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The Grove at La Frontera in Arlington, Texas
DevelopmentFinanceNewsTexas

JLL Capital Markets Arranges Construction Financing for The Grove at La Frontera Near Dallas

by Channing Hamilton

ARLINGTON, TEXAS — JLL Capital Markets has arranged a loan to facilitate the construction of The Grove at La Frontera, a 396-unit project in the Dallas suburb of Arlington. John Brownlee, Bo Beidleman and Chad Lisbeth of JLL worked on behalf of the borrower, Zale Properties, to secure the four-year, fixed-rate loan through Principal Asset Management. The Grove at La Frontera will include 336 apartment units, 60 single-family rental units and 10,000 square feet of ground-floor retail. Amenities include two pools, a fitness center, pickleball courts, a dog park and pet …

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FinanceNewsNorth CarolinaSoutheast

NewPoint Provides $45 Million to Refinance 300-Unit Community in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — NewPoint Real Estate Capital has provided a $45 million lease-up bridge loan to refinance a recently completed 300-unit community in Charlotte. Mike Ortlip of NewPoint originated the floating-rate, interest-only bridge loan, which features a two-year initial term. The borrower is an undisclosed North Carolina-based development firm. The property offers a mix of one-, two- and three-bedroom apartments. Amenities include a pool, grilling pavilion, fitness center with a yoga and spinning room, a billiards room and a dog park.

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Lorenzo Apartments in San Antonio
Investment SalesNewsTexas

The Multifamily Group Arranges Sale of 72-Unit Lorenzo Apartments in San Antonio

by Channing Hamilton

SAN ANTONIO — The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has arranged the sale of Lorenzo Apartments in San Antonio. TMG’s Jon Krebbs represented the seller, while Christopher Siemasko procured the buyer. Neither party was disclosed. Lorenzo Apartments was built in 1960. The property comprises 72 units in one- and two-bedroom layouts. Amenities include a laundry facility, bark park and 24-hour courtesy patrol.

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90 Avenue E in Bayonne, New Jersey
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $6.1 Million Sale of 70-Unit Community in Bayonne, New Jersey

by Channing Hamilton

BAYONNE, N.J. — CBRE has arranged the $6.1 million sale of a 70-unit property at 90 Avenue E in Bayonne, a city that is located on a peninsula between Newark Bay and New York Bay. The project is currently under development and is fully approved with a 20-year PILOT. EOM sold the site to a private developer based in Hudson County. CBRE’s Fahri Ozturk, Richard Gatto and Zach McHale marketed the site and represented EOM in the deal. Hudson Realty represented the buyer. 

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Arris Grand in New York City
FinanceNew YorkNewsNortheast

SCALE Lending Provides $46 Million Bridge Loan for 113-Unit Arris Grand in Brooklyn

by Channing Hamilton

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has arranged a $46 million bridge loan for Arris Grand, a nine-story apartment building in Brooklyn’s Clinton Hill neighborhood. The borrower will use the financing to pay off the existing construction loan and support the lease-up of the community. Arris Grand comprises 113 units in studio, one- and two-bedroom layouts. The property offers 10,000 square feet of amenities — including a fitness center, roof deck, terrace, and lounges — as well as 7,154 square feet of street-level …

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Lakewood Apartments in Modesto, California
CaliforniaInvestment SalesNewsWestern

The Mogharebi Group Negotiates $42.7 Million Sale of Edge at Lakewood Apartments in Modesto, California

by Channing Hamilton

MODESTO, CALIF. — The Mogharebi Group has negotiated the sale of The Edge at Lakewood Apartments, a 196-unit community in Modesto, 68 miles south of Sacramento. Osso Capital and Graceada Partners purchased the asset for $42.7 million. The Edge at Lakewood Apartments was built in 1985 on 7.6 acres. The property offers one- and two-bedroom units ranging from 598 to 880 square feet in size. Amenites include a fitness center, clubhouse, pool, and covered parking.

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IllinoisInvestment SalesMidwestNews

Breneman Capital Acquires 52-Unit Adams Laflin Place in Chicago

by Channing Hamilton

CHICAGO — Breneman Capital has acquired Adams Laflin Place, a 52-unit property located at 128 S. Laflin Street in Chicago’s West Loop neighborhood. Steve Horvath and Marc Bombicinio of CREW Advising brokered the sale. Brett Hill of Greystone originated acquisition financing. Adams Laflin Place was built in 2020. The property offers seven one-bedroom units and 45 two-bedroom units. Dwelle Properties will manage the community.

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Azul Luxury Residences in Stuart, Florida
FinanceFloridaNewsSoutheast

JLL Brokers $10.6 Million to Refinance Azul Luxury Residences in Stuart, Florida

by Channing Hamilton

STUART, FLA. — JLL Capital Markets has negotiated the $10.6 million refinancing of Azul Luxury Residences, a 49-unit community in Stuart, on Florida’s Atlantic Coast. JLL worked on behalf of the borrower, Diversyfund, to secure a $9 million senior mortgage loan and a $1.6 million mezzanine loan through SteepRock Capital. Bryan Clark, Kenny Cutler, Brad Vansant and Emily Pohlman led the JLL Capital Markets Debt Advisory team. Built in 2019, Azul Luxury Residences features one-, two- and three- bedroom units across three stories. Amenities include a pool, spa, clubhouse and fitness center.

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J Highlands at Hudson in Hudson, Massachusetts
Investment SalesMassachusettsNewsNortheast

TruAmerica Multifamily Acquires J Highlands at Hudson in Boston’s MetroWest Region

by Channing Hamilton

HUDSON, MASS. — TruAmerica Multifamily has acquired J Highlands at Hudson, a 158-unit community located at 307 Central Street in Hudson, a city in Boston’s MetroWest region. Walker & Dunlop’s Mike Coyne, Travis D’Amato, Maggie McFarland and Brendan Shields represented the seller in the deal. Russell Dey and Trevor Fase negotiated acquisition financing. The transaction price and seller were not disclosed. J Highlands at Hudson was originally built in 2005. Amenities include a pool, dog park, package lockers, fitness center, clubhouse and community kitchen. TruAmerica Multifamily plans to rebrand the …

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Investment SalesNew JerseyNewsNortheast

The Kislak Co. Brokers $6.8 Million Sale of Ridgedale Commons 

by Channing Hamilton

MORRISTOWN, N.J. ­— The Kislak Co. Inc. has arranged the sale of Ridgedale Commons, a 29-unit development in Morristown. The asset traded hands for $6.8 million. Kislak’s Joseph Keenan represented the seller and procured the buyer in the deal. Both parties requested anonymity. The property is currently under construction, and will ultimately offer a single one-bedroom unit, 27 two-bedroom units and one three-bedroom unit. Four units will be subject to income restrictions.

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