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Amavida Marana in Marana, Arizona
ArizonaInvestment SalesNewsWestern

Ascent Cos., Vanderbuild Open 200-Unit Amavida Marana Near Tucson, Arizona

by Channing Hamilton

MARANA, ARIZ. — Ascent Cos. and Vanderbuild have opened Amavida Marana, a 200-unit community in Marana, 20 miles northwest of Tucson, Arizona. Located at 5555 W. Ina Road, Amavida Marana offers one-, two- and three-bedroom floor plans. Amenities include a four-acre community park, four pickleball courts, a playground, a walking and jogging loop, dog park, EV chargers, an indoor/outdoor fitness center, pool, hot tub, pet washing stations and a clubhouse. Bryten Real Estate Partners is the property manager.

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DevelopmentNewsWashingtonWestern

Vista Residential Partners Breaks Ground on 238-Unit One26 Vista in Vancouver, Washington

by Channing Hamilton

VANCOUVER, WASH. — Vista Residential Partners, along with PCCP and Principal Asset Management, has broken ground on One26 Vista, a 238-unit project in Vancouver. LSW Architects designed the asset. Atlanta-based Krevolin & Horst represented Vista Residential Partners in the closing. Situated on nine acres on NE 72nd Avenue, the garden-style community offers one-, two- and three-bedroom floor plans. The average unit size is 920 square feet. Planned amenities include a clubhouse, fitness center, pool, hot tub, enclosed dog park and package concierge.

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AlabamaFinanceNewsSoutheast

Greystone Provides $14.5 Million Refinancing for 700 Riverchase Near Birmingham, Alabama

by Channing Hamilton

HOOVER, ALA. — Greystone has provided a $14.5 million Fannie Mae Delegated Underwriting & Servicing loan for the refinancing of 700 Riverchase, a 216-unit property in the southern Birmingham, Alabama suburb of Hoover. The non-recourse, fixed-rate financing features a five-year term and 30-year amortization, with interest-only payments for the full term of the loan. Rob Meehan of Greystone originated the financing, with HKS Capital Partners acting as correspondent. The borrower was not disclosed. Built in 1983, 700 Riverchase comprises 12 buildings. Units come in one-, two- and three-bedroom floor plans. …

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The Parker Aiken Apartments in Aiken, South Carolina
DevelopmentFinanceNewsSouth CarolinaSoutheast

IPA Capital Markets Brokers $37.3 Million Construction Loan for The Parker Aiken Apartments in Aiken, South Carolina

by Channing Hamilton

AIKEN, S.C. — IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), has arranged $37.3 million in construction financing for The Parker Aiken Apartments, a 336-unit development in Aiken, 20 miles northeast of Augusta, Georgia. The borrower was New York City-based developer JEM Holdings. Max Herzog, Marko Kazanjian and Andrew Cohen of IPA Capital Markets secured the seven-year, fixed-rate loan through Protective Life Insurance Co. The Parker Aiken Apartments will comprise 14 buildings on a 30-acre site. Planned amenities include a clubhouse with fitness center, co-working spaces, an outdoor grilling …

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Corona Del Sol in Phoenix
ArizonaInvestment SalesNewsWestern

JLL Arranges $12.6 Million Sale of 64-Unit Corona Del Sol in Phoenix

by Channing Hamilton

PHOENIX — JLL has brokered the sale of Corona Del Sol, a garden-style community located at 27 E. Corona Ave. in Phoenix. Corona Del Sol was built in 1985. The property features 64 apartments with an average size of 880 square feet. The community was 97 percent leased at the time of sale. KDF Communities purchased the asset from a private high-net-worth seller for $12.6 million. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of JLL Capital Markets represented the seller and procured the buyer in the deal.

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Aspire Apartments in Denton, Texas
Investment SalesNewsTexas

SPI Advisory Acquires Two-Property Portfolio in Denton, Texas

by Channing Hamilton

DENTON, TEXAS — Dallas-based private equity firm SPI Advisory has acquired a portfolio of two multifamily properties totaling 248 units in the northern Dallas suburb of Denton. The two properties are Lana Apartments and Aspire Apartments. Mark Allen of GREA represented the seller, Legacy REI, in the transaction. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal. Lana Apartments was originally constructed in 1981. The garden-style community features 116 apartments. Aspire Apartments comprises 132 units. The property was built in 1970 and …

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Affordable HousingDevelopmentFinanceMidwestMinnesotaNews

Wells Fargo Provides $65.5 Million in Construction Financing for Affordable Housing Project in Minneapolis

by Channing Hamilton

MINNEAPOLIS — Wells Fargo has provided $65.5 million in construction financing for Opportunity Crossing, a mixed-use affordable housing project located at 3030 Nicollet Ave. in Minneapolis. The six-story property will offer 110 apartment units, as well as commercial space and a Wells Fargo branch on the first floor. Income restrictions were not disclosed. Wells Fargo’s Community Lending and Investment Group provided $29.5 million in total construction financing, a $6.5 million permanent loan commitment and a $24.5 million Low-Income Housing Tax Credits equity investment. The developer is Project for Pride in …

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Investment SalesNewsTexas

Marcus & Millichap Arranges Sale of 120-Unit Serena Vista in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Serena Vista, a 120-unit complex in Arlington, 21 miles west of Dallas. Green Mountain Properties LLC purchased the asset from an undisclosed private investment group. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer. Serena Vista was built in 1980. The property offers studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and a dog park. 

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DevelopmentMaineNewsNortheast

Jones Street Investment Partners Breaks Ground on 64-Unit Project in Brunswick, Maine

by Channing Hamilton

BRUNSWICK, MAINE — Jones Street Investment Partners, a private equity real estate firm headquartered in Boston, has broken ground on a 64-unit project in Brunswick, 26 miles north of Portland, Maine. The project represents the second phase of Atlantic Pointe. Phase I comprised 181 units. Phase II will include four buildings that will house one- and two-bedroom units. Planned amenities at Atlantic Pointe include a fitness center, business center, dog park and package lockers. Phase II is slated to complete in summer 2025.

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105 Grove St. in Elizabeth, New Jersey
Investment SalesNew JerseyNewsNortheast

SAGE Brokers $4.2 Million Sale of 31-Unit Property in Elizabeth, New Jersey

by Channing Hamilton

ELIZABETH, N.J. — SAGE Investment Real Estate Advisors (SAGE) has arranged the sale of a 31-unit property located at 105 Grove St. in the Elmora neighborhood of Elizabeth. Built in 1927, 105 Grove St. offers exclusively one-bedroom units. The asset traded for $4.2 million. Steve Tragash of SAGE represented the seller, a private individual, and procured the buyer, a private investor.

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