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Orchard Park in Port Orchard, Washington
Investment SalesNewsWashingtonWestern

Marcus & Millichap Arranges $16 Million Sale of Orchard Park in Port Orchard, Washington

by Channing Hamilton

PORT ORCHARD, WASH. — Marcus & Millichap has arranged the sale of Orchard Park, a 66-unit property in Port Orchard, about 17 miles west of Seattle. The asset traded hands for $16 million. Orchard Park was built in 1981. The community offers units in one-, two- and three-bedroom layouts. The property was 96 occupied at the time of sale. Kellan Moll and Scott Morasch of Marcus & Millichap’s Seattle office marketed the property on behalf of the seller. Moll and Morasch, along with Mitchell Loofburrow, also secured the buyer. Both the buyer and …

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Investment SalesNewsTexas

Cortland Acquires 288-Unit Villas River Oaks in Houston

by Channing Hamilton

HOUSTON — Atlanta-based investment and development firm Cortland has acquired Villas River Oaks, a 288-unit complex in Houston’s River Oaks neighborhood. Cortland purchased the asset from international investment firm Heitman for an undisclosed price. Villas River Oaks offers one- and two-bedroom floor plans, which range from 625 to 1,200 square feet. Amenities include a pool, clubhouse, fitness center, lounge, community garden and outdoor grilling and dining stations. The new ownership plans to implement a value-add program and rebrand the property as Cortland River Oaks.

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Highline Apartments in Omaha, Nebraska
FinanceMidwestNebraskaNews

Colliers Mortgage Provides $29.9 Million Refinancing for Highline Apartments in Omaha

by Channing Hamilton

OMAHA, NEB. — Colliers Mortgage has provided a $29.9 million Fannie Mae loan for the refinancing of Highline Apartments, a 306-unit complex in Omaha. Brett Olson and Jeff Witt of Colliers Mortgage originated the 10-year loan, which features interest-only payments for the full term. Highline Apartments consists of two buildings connected by a covered parking garage. Community amenities include rooftop decks, basketball courts, a business center, fitness center, outdoor pool and clubhouse.

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DevelopmentGeorgiaNewsSoutheast

Thompson Thrift to Develop 212-Unit The Levi in Atlanta Suburb

by Channing Hamilton

STOCKBRIDGE, GA. — Thompson Thrift has unveiled plans to develop The Levi, a 212-unit community located at 2245 Jodeco Road in the southeast Atlanta suburb of Stockbridge. The Levi will offer one-, two- and three-bedroom apartments averaging 1,100 square feet in size. Amenities will include a fitness center, pool, outdoor grills, work suites, a pickleball court, dog park, pet spa and a Starbucks coffee bar. The Levi will be situated within the 158-acre master-planned Bridges at Jodeco development. A construction timeline was not disclosed.

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3043 S.E. Port St. Lucie Blvd. in Port St. Lucie, Florida
BerkadiaDevelopmentFloridaInvestment SalesNewsSoutheast

Berkadia Brokers $8.5 Million Sale of 22-Acre Development Site in Port St. Lucie, Florida

by Channing Hamilton

PORT ST. LUCIE, FLA. — Berkadia has negotiated the sale of a 22-acre site located at 3043 S.E. Port St. Lucie Blvd. in Port St. Lucie. Development firm Ciprés acquired the parcel from Sympatico Real Estate for $8.5 million. Ciprés plans to develop a 324-unit community on the site. A construction timeline for the project was not disclosed. Omar Morales, Jaret Turkell, Roberto Pesant and Yoav Yuhjtman of Berkadia Florida arranged the deal. Javier Herrera of Franklin Street acted as the land lender broker, and Vertix provided acquisition financing.

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DevelopmentIndianaMidwestNews

Flaherty & Collins Properties Opens Phase II of The Arbuckle Apartments Near Indianapolis

by Channing Hamilton

BROWNSBURG, IND. — Flaherty & Collins Properties has opened Phase II of The Arbuckle Apartments in the western Indianapolis suburb of Brownsburg. The community is located at 7240 Arbuckle Commons. The first phase of the property was constructed in 2018 and offers 310 units ranging in size from studios to two-bedroom townhomes. According to the property website, the second phase brings approximately 100 more apartments to the community.

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Landing at Lemay in Fort Collins, Colorado
ColoradoDevelopmentNewsWestern

Thompson Thrift Plans 344-Unit Landing at Lemay in Fort Collins, Colorado

by Channing Hamilton

FORT COLLINS, COLO. — Thompson Thrift has released plans for The Landing at Lemay in Fort Collins. The Landing at Lemay will comprise 344 units on a 17-acre site. The community will offer carriage homes with apartments built over attached private garages and electric vehicle charging capabilities. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a fitness center, pool, fire pits, a billiards and shuffleboard area, dog park, pet spa, community-wide Wi-Fi and outdoor entertainment kitchen. Construction is slated to begin in July and move-ins …

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Lyle in Dallas
DevelopmentLeasing & MarketingNewsTexas

Toll Brothers Apartment Living, Equity Residential Open 334-Unit Lyle in Dallas

by Channing Hamilton

DALLAS — A partnership between Equity Residential and Toll Brothers Apartment Living, the rental division of Toll Brothers, has opened Lyle in Dallas. Construction began on the project in 2022 and was financed by a $55.6 million construction loan from Santander Bank, N.A. Located at 17727 Addison Road, Lyle offers 334 apartments in studio, one-, two- and three-bedroom layouts. Units include smart home technology features such as keyless entry and smart thermostats. Select units also include private balconies, terraces or fenced-in yards. Residents have access to outdoor amenities such as …

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Investment SalesNewsTexas

Hamilton Point Investments Acquires 1,174-Unit Portfolio in Metro Houston for $195 Million

by Channing Hamilton

HOUSTON — Hamilton Point Investments has acquired a portfolio of four properties totaling 1,174 apartments in the Houston metropolitan area. Hamilton Point Investments purchased the portfolio from a Texas-based multifamily developer for $195 million, which represents a cost per unit of $166,100. All four properties were built in 2022. The portfolio includes:

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Avalon Hackensack at Riverside in Hackensack, New Jersey
Investment SalesNew JerseyNewsNortheast

JLL Capital Markets Brokers Sale of 226-Unit Avalon Hackensack at Riverside in Hackensack, New Jersey

by Channing Hamilton

HACKENSACK, N.J. — JLL Capital Markets has arranged the sale of Avalon Hackensack at Riverside, a 226-unit community located at 414 Hackensack Ave. in the New York City suburb of Hackensack. JLL worked on behalf of the undisclosed seller. The buyer and sale price were also not disclosed. Jose Cruz, Michael Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce led the JLL Capital Markets team. Avalon Hackensack at Riverside was built in 2013. The community offers studio, one-, two- and three- bedroom apartments. Select units feature balconies, patios, dens and …

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