NEW YORK CITY — First Citizens Bank has provided a $74 million loan for the refinancing of 160-unit property located at 310 Livingston Street in downtown Brooklyn. The borrower was Lonicera Partners, a locally based developer. The building rises 23 stories and offers one- and two-bedroom floor plans. Amenities include a fitness center, outdoor grilling and dining stations, a recreation room, speakeasy, library, private dining room and a sky lounge. The property also includes ground-level retail and restaurant space.
OCEANSIDE, CALIF. — JLL Capital Markets has arranged a $5.1 million refinancing for 330 S. Home Street, a 21-unit community in Oceanside, approximately 40 miles north of San Diego. The borrower was a joint venture between Westview Real Estate and Pace Properties. JLL worked on behalf of the borrower to secure the three-year, fixed-rate loan through a regional bank. Chris Collins and Emily Pohlman led the JLL Capital Markets Debt Advisory team. The property consists of 17 apartments that were built in 1970 and renovated in 2023, as well as four newly constructed accessory …
CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale and financing of The Plaza Taos, a 164-unit community in the Phoenix suburb of Chandler. The buyer and seller were not disclosed. The Plaza Taos was built in 2023 on nine acres. Apartments come in one-, two- and three-bedroom floor plans. Amenities include a pool and spa, pet park, indoor dog spa and outdoor kitchen with gas grills.
TRAVERSE CITY, MICH. — Woda Cooper Cos. has opened Annika Place, a $14.7 million affordable housing project located at 947 S. Garfield in Traverse City. Annika Place offers 53 units, including 29 one-bedroom and 24 two-bedroom residences. The property is available to households earning between 30 and 80 percent of the area median income. Monthly rates range from $377 to $1,125 depending on the income restriction and size of the unit. The Traverse City Housing Commission will provide rental assistance for eight units, which will be occupied by formerly homeless …
OCEANSIDE, CALIF. — CBRE has arranged the sale of a 25-unit community located at 2326 Greenbrier Drive in Oceanside, approximately 40 miles north of San Diego. The asset traded hands for $8.6 million in a 1031 exchange. Dan Blackwell, Mike O’Neill and Amanda Fielder of CBRE represented the buyer, a repeat client based in San Diego County, in the transaction. The seller was based in South Orange County. The five-building complex totals 19,278 square feet on a 1.2-acre lot. The property was built in 1980 and remodeled in 2019. The …
DOUGLASVILLE, GA. — Resia has opened Resia Tributary, a 433-unit community located in Douglasville, approximately 20 miles west of Atlanta. Located at 1851 Market Street, Resia Tributary spans seven five-story buildings. Units come in studio, one- and two-bedroom floor plans. Apartments feature stainless steel appliances, in-unit washers and dryers, granite countertops and vinyl plank flooring. Community amenities include a fitness center and a pool. The property also includes a two-story building with 9,000-square-foot retail space on the first floor and 13 one-bedroom lofts available for lease on the second floor.
WESTFIELD, N.J. — Adoni Property Group has opened The Franklin Westfield, a 40-unit community in Westfield, 16 miles southwest of Manhattan. The community offers one-, two- and three-bedroom units ranging from 750 to over 2,650 square feet. Amenities include a rooftop deck, pool, putting green, lounge and dining/wine tasting room, fitness center, multi-sport simulator, business center, quiet room, pet wash and dog park.
NEW YORK CITY — Ariel Property Advisors (Ariel) has brokered the sale of a development site located at 60-14 Beach Channel Drive in the Far Rockaway neighborhood of Queens. According to Ariel, the site can support 74,000 square feet of buildable space and is subject to a 421a tax incentive for adding affordable housing. Jason Gold and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the deal. The buyer was also not disclosed.
MELISSA, TEXAS — Greysteel has arranged construction financing for Wolf Creek Farms, a 32-acre build-to-rent development in Melissa, approximately 40 miles north of Dallas. Wolf Creek Farms will offer 343 units in one-, two- and three-bedroom layouts. Planned amenities include a pool, fitness center, dog park, courtyards and lounges. The developer, Dallas-based Welker Properties, will break ground on the project in the fall. Construction is slated to complete by the end of 2025. The total development cost is expected to be $95 million.
BWE Provides $8.3 Million Fannie Mae Loan for Affordable Brookstone Apartments in Waukegan, Illinois
WAUKEGAN, ILL. — BWE has provided a $8.3 million fixed-rate Fannie Mae MAH loan for Brookstone Apartments, a 168-unit affordable housing complex in Waukegan, 36 miles north of Chicago. Adam Gould of BWE’s Detroit office originated the loan, which features a 10-year term with 36 months of interest-only payments and a 30-year amortization. Brookstone Apartments was built in 1986. The unit mix includes 92 one-bedroom and 76 two-bedroom units. Fifty units are reserved for residents earning up to 50 percent of the area median income (AMI) and 110 are available …