KILLEEN, TEXAS — The NRP Group has finished constructing Station42, a 368-unit mixed-income community in the central Texas city of Killeen. Station42 offers units in one-, two- and three-bedroom layouts. More than half of the total unit count is reserved for households earning 80 percent or less of the area median income. Amenities include a pool, clubroom, fitness center, gaming area, communal kitchen, coworking lounge, dog park, outdoor dining and entertainment areas and package handling services. Partners on the project included The City of Killeen Public Facility Corp., J.P. Morgan …
DENVER AND CASTLE ROCK, COLO. — Affiliates of Harbor Group International has acquired a portfolio in Colorado for $132.5 million. The portfolio consists of two recently-constructed properties, Ladora Modern and Prospector Modern. Both communities were completed in December 2023 and offer amenities such as pools, fitness centers, and dog parks. Ladora Modern is a 196-unit community in Denver. Units come in two- and three-bedroom floor plans and average 1,000 square feet in size. The property was 85 percent occupied at the time of sale. Prospector Modern is a 238-unit property …
DALLAS — JLL Capital Markets has arranged the $175 million facility refinancing for a three-property, 882-unit portfolio. The borrower was an investment vehicle sponsored by Willow Bridge Property Co., a full service residential property company headquartered in Dallas. Andy Scott, Michael Cosby, Bo Beidleman and Ryan Pollack of JLL arranged the loan through Fannie Mae and closed on the five-year, fixed-rate initial tranche. The financing will be used to seed a larger programmatic financing vehicle, allowing for flexibility in future transactions.
TOMBALL, TEXAS — Colliers has arranged the sale of Oak Bend Place, a 152-unit complex in the northern Houston suburb of Tomball. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the deal. The buyer was not disclosed. Oak Bend Place was originally built in 1984. According to Apartments.com, the property offers two-bedroom apartments, as well as amenities such as a pool, pet play area and outdoor grilling and dining stations.
ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale, a 70-unit community located at 220 W. Crescent Avenue in the northern New Jersey borough of Allendale. The Vale was designed by DMR Architects. The community offers one- and two-bedroom apartments with features such as quartz countertops, mosaic tile backsplashes, custom cabinetry, stainless steel appliances and plank flooring. Amenities include a clubroom, lounge, fitness center and a 9,460-square-foot outdoor courtyard.
ELMWOOD PARK, N.J. — JLL Capital Markets has negotiated the $49 million capitalization for the second phase of Riverwalk, a four-phase master-planned development in Elmwood Park. Phase two of Riverwalk will comprise 150 units across two buildings, and is slated to deliver in the fourth quarter of 2024. At full build-out, the community will offer amenities such as a fitness center, outdoor pool deck, lounge and a business center. The property will also feature 15,000 square feet of retail space. JLL represented the borrower, Riverwalk, to secure the $32 million …
HOUSTON — Asset Living has been awarded management of two properties, HiLine Heights and District at Washington, in Houston. Situated within the city’s The Heights neighborhood, HiLine Heights offers studio, one-, two- and three-bedroom apartments. Amenities include a pool, fitness center, business center, clubhouse, coffee bar and lounge. According to Apartments.com, HiLine Heights comprises 256 units across four stories. District at Washington offers one- and two-bedroom units. Amenities include a pool, fitness center, business center, yoga/spin studio, clubhouse, cybercafe and a dog park. District at Washington is located near Houston’s …
HOUSTON — Sunstone Two Tree has acquired Villas Del Paseo, a 384-unit asset in Houston’s Westchase neighborhood, for $28.9 million. Villas Del Paseo was built in 1978. The property offers one-, two- and three-bedroom apartments. Amenities include a pool, fitness center, playground, business center, package services and outdoor grilling and dining stations. Mark Saunders of Newmark represented the seller, Comunidad Partners, in the deal. The new owner plans to invest about $10.5 million in capital improvements. Exterior renovations will include new paint, roof replacements, lighting, landscaping and signage. Unit interiors will …
NEW YORK CITY — The New York City Housing Partnership Development Corp. has elected Ron Moelis as chairman of the board of directors. Moelis is the chairman and co-founder of L+M Development Partners LLC, which is headquartered in Larchmont, New York. He is also a co-founder and vice chairman of the New York State Association for Affordable Housing, a nonprofit organization that advances a policy agenda for affordable housing. Moelis also serves on the Board of Trustees of the Tenement Museum on Manhattan’s Lower East Side and the Board of …
NEWTON, MASS. — Newton-based 2Life Communities has promoted Zoe Weinrobe to the role of chief of real estate. In this role, she will oversee the company’s development projects. 2Life Communities’ current developments include Opus Newton, the redevelopment of the J.J. Carroll Apartments in Brighton with the Boston Housing Authority, and Brooke House at Olmsted Village in Mattapan, Massachusetts. Weinrobe originally joined 2Life Communities in 2016. Prior to this, she served as vice president at Recap Real Estate Advisors. Weinrobe also worked at Urban Edge CDC, the Cambridge Housing Authority, and the …