PLANO, TEXAS — A partnership consisting of TruAmerica Multifamily and Spoke Real Estate Capital has purchased Sheridan Park at Spring Creek Apartments, a 300-unit community in the Dallas suburb of Plano. The asset traded hands for $50.3 million. Sheridan Park at Spring Creek Apartments offers one-, two- and three-bedroom apartments. Units feature wood burning fireplaces, private patios, washer and dryer connections and private backyards. Amenities include a fitness center, two pool areas and a resident lounge. Greg Toro and Rob Key of JLL represented the buyers and the undisclosed seller …
NEW YORK CITY — Greystone has provided a total of $21.5 million in Fannie Mae Delegated Underwriting & Servicing loans to refinancing two communities in New York City’s Harlem neighborhood. Greystone provided $11.4 million for The Duke, a 28-unit building located at 521 W. 134th St., and $10.1 million for The Count, a 27-unit asset located at 168 W. 136th St. Each of the non-recourse, fixed-rate loans in the portfolio carries a five-year term and 30-year amortization schedule, with interest-only payments for the first two years of the term. Avi Kozlowski …
MONTCLAIR, N.J. — A partnership between The Hampshire Cos. and The Pinnacle Cos. has opened The Clair, a 40-unit community located at 37 Orange Road in the New York City suburb of Montclair, which is 20 miles northwest of lower Manhattan. The asset is located adjacent to the 159-room MC Hotel, which The Hampshire Cos. and The Pinnacle Cos. completed in 2019. The Clair offers studio, one- and two-bedroom apartments. Amenities include valet parking, package service, community Wi-Fi, EV charging stations, a clubhouse and business center, courtyard with grills, roof …
NEW YORK CITY — J.P. Morgan has provided a $210 million Freddie Mac loan for the refinancing of a portfolio of 12 transitional and affordable housing properties in New York City. The loan carries a seven-year term and a fixed interest rate. The borrower is a partnership between two locally based firms, developer Slate Property Group and alternative asset management firm Fundamental Advisors. The portfolio totals 1,115 apartment units across approximately 304,000 square feet. The properties are located in Manhattan, Brooklyn, Queens and The Bronx. Each property is leased to …
FORT WORTH, TEXAS — Palladium USA, in a public-private partnership with the Fort Worth Housing Finance Corp. (FWHFC), plans to develop Palladium City Skyline, a 243-unit project in Fort Worth. The eight-acre community will feature amenities such as indoor and outdoor children’s play areas, fitness center, pool and dog run. The community will offer affordable housing options for individuals earning 30, 60, 70 and 80 percent of the area median income. The first units are expected to be available for leasing by early 2026. Palladium City Skyline will be built …
JACKSONVILLE, FLA. — Presidium has completed Presidium Regal, a 334-unit development located at 14501 Beach Blvd. in Jacksonville. Designed by Atlanta-based Dwell Design Studio, the property offers one-, two- and three-bedroom apartments that range in size from 550 to 1,600 square feet. Amenities include a 11,000-square-foot leasing office and clubhouse featuring a clubroom, game lounge, golf simulator, theater room, showroom kitchen, coworking lounge with micro-offices, podcast rooms, a rooftop lounge and a 2,000-square-foot fitness center. Other amenities include a pool with grilling stations, cabanas, indoor and outdoor fireplaces, car wash, juice …
NORTH CHARLESTON, S.C. — American Landmark Apartments has purchased Ingleside Apartments, a 304-unit community located at 9345 Blue House Rd. in North Charleston. The community was built in 2008. Amenities include a fitness center, pool, barbecue and picnic area, multipurpose clubhouse and dog park. The new owner plans to rebrand the property as Sage at Ingleside. The seller and sales price were not disclosed.
ROCHELLE PARK, N.J. — JLL Capital Markets has arranged $44 million in financing for The Delford, a 160-unit community in the New York City suburb of Rochelle Park. JLL represented the borrower, Tulfra Real Estate, to secure the five-year, fixed-rate loan through Nuveen Real Estate. Michael Klein, Jon Mikula and Ryan Carroll led the JLL Capital Markets Debt Advisory team. Situated at 120 W. Passaic St., The Delford offers one-, two- and three-bedroom floor plans. The unit mix includes 136 market-rate units and 24 affordable units. Income restrictions for the …
CHICAGO — The Federal Home Loan Bank of Chicago (FHLBank Chicago) has launched the Low-Income Housing Tax Credit (LIHTC) Collateral Pilot Program. Through member banks, credit unions, insurance companies, community development financial institutions (CDFIs) and eligible housing associates, the program aims to amplify and incentivize lending in support of affordable housing for low-income individuals and families. The LIHTC Collateral Pilot Program provides members with increased lendable value on their pledged collateral for up to $300 million of qualifying mortgage loans on LIHTC multifamily projects. While all FHLBank Chicago members are …
NEW YORK CITY — Property Resources Corp. has begun leasing The Hartby, a 205-unit asset located in the Bedford-Stuyvesant neighborhood of Brooklyn. The Hartby is a redevelopment of the former St. John’s College building, which was originally built in 1870. Woods Bagot served as the project architect. Alchemy Studio provided interior design services. The Hartby features units in studio, one- and two-bedroom floor plans. Thirty percent of units will be rent-stabilized and are now being leased via a lottery system. Leasing of market-rate units is slated to begin later this …