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BLVD at Medical Center in San Antonio
Investment SalesNewsTexas

Hamilton Zanze Sells 248-Unit BLVD at Medical Center in San Antonio

by Channing Hamilton

SAN ANTONIO — Hamilton Zanze has sold BLVD at Medical Center, a 248-unit community in San Antonio. BLVD at Medical Center was built in 2016 and features one-, two- and three-bedroom units that average 776 square feet in size. Amenities include a pool, yoga studio, fitness center, outdoor kitchen, playground, business center and valet trash service. Hamilton Zanze originally acquired the asset in 2016. The firm sold the community after completing a comprehensive capital improvement program, which included upgrades to the apartments, building exteriors, common-area amenities and landscaping.

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V2 Apartments in Chelsea, Massachusetts
DevelopmentMassachusettsNewsNortheast

Fairfield Completes 256-Unit V2 Apartments in Boston Suburb

by Channing Hamilton

CHELSEA, MASS. — Fairfield has finished the construction of V2 Apartments, a 256-unit asset in the Boston suburb of Chelsea. The property is located near the MBTA commuter rail and Chelsea’s downtown area. V2 Apartments features studio, one- and two-bedroom floor plans. Amenities include a fitness center with personal e-trainer, pool, co-working lounge with complimentary Wi-Fi, dog park, three courtyards and electric vehicle charging stations.

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DevelopmentFinanceIndianaMidwestNews

Red Oak Capital Holdings Provides $9 Million Bridge Loan to Renovate Bon Air Apartments in Indianapolis

by Channing Hamilton

INDIANAPOLIS — Red Oak Capital Holdings LLC has provided a $4 million bridge loan for Bon Air Apartments, a 42-unit asset in Indianapolis. Bon Air Apartments consists of a trio of three-story buildings, which were originally constructed in 1960. The borrower, a group of professionals doing business as 21 West QOZ LLC, will use the financing to pay off an existing loan and complete a gut renovation of the three buildings. The new owners also plan to build a new building on an adjacent vacant parcel. Common area and amenity …

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Crossroads at Town Center in Jacksonville, Florida
FinanceFloridaInvestment SalesNewsSoutheast

JLL Capital Markets Arranges $32.8 Million in Acquisition Financing for Crossroads at Town Center in Jacksonville, Florida

by Channing Hamilton

JACKSONVILLE, FLA. — JLL Capital Markets has closed $32.8 million in acquisition financing for Crossroads at Town Center, a build-to-rent community in Jacksonville. JLL represented the borrowers, 360 Communities (Freehold Capital Management) and PCCP, to secure the loan through Greystar. Chris Drew, Matthew Putterman, Kenny Cutler and Shane Ciacci led the JLL Capital Markets Debt Advisory team. Crossroads at Town Center comprises 141 three-bedroom townhome units averaging 1,728 square feet in size. Units feature garages, covered porches, fenced-in backyards, stainless-steel appliances, built-in washers and dryers, quartz countertops, plank flooring and …

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DevelopmentNew YorkNewsNortheast

SCALE Lending Provides $140 Million to Construct 354-Unit Project in Brooklyn

by Channing Hamilton

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $140 million construction loan for a development located at 2366 Bedford Ave. in Brooklyn’s Flatbush neighborhood. Leah Paskus of Landstone Capital Group negotiated the loan on behalf of the borrower and developer, Clipper Equity. The community will comprise 354 units across seven stories. The property will also include ground-floor retail space and on-site parking. Planned include a café/business lounge, wet and dry saunas, golf simulator and a cycling studio. S. Wieder Architect PC …

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Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers Sale of First Avenue Apartments in Minneapolis

by Channing Hamilton

MINNEAPOLIS — Marcus & Millichap has arranged the sale of First Avenue Apartments, a 52-unit property in Minneapolis. The sales price was not disclosed. First Avenue Apartments was constructed in 1917 and 1919. The asset comprises two neighboring buildings located on First Avenue within the city’s Stevens Square neighborhood. Michael Jacobs and Abe Roberts of Marcus & Millichap represented the buyer and seller in the deal, both of which requested anonymity. 

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BerkadiaInvestment SalesNewsTexas

Berkadia Brokers Sale of 260-Unit Woodland Hills Village Near Houston

by Channing Hamilton

KINGWOOD, TEXAS — Berkadia has arranged the sale of Woodland Hills Village, a 260-unit property located 30 minutes north of Houston in Kingwood. Kyle Whitney, Chris Young, Joey Rippel, Jeffrey Skipworth and Chris Curry of Berkadia Houston completed the sale on behalf of the seller, Colorado-based Interurban Cos. The buyer was a Dallas-based value-add firm. Woodland Hills Village is located at 2139 Lake Hills Drive. The community offers one-, two- and three-bedroom units with walk-in closets and patios or balconies. Amenities include a pool, fitness center, laundry facilities, covered parking and …

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Investment SalesNewsTexas

EBSC Lending Provides $59 Million Construction Loan for Mixed-Use Project in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — EBSC Lending has provided a $59 million construction loan for a mixed-use development underway in Austin. Martin Alex of EBSC Lending originated the financing. Aaron Donovan and Brian Stark led the underwriting and closing efforts. The borrower, a local builder, will use the funds to complete construction of the project and to refinance existing debt. Once constructed, the project will comprise three buildings and 201,821 square feet. The developer acquired the site in December 2020. The project is slated to complete in 2025.

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Investment SalesKentuckyNewsSoutheast

Newmark Arranges $19.7 Million Sale of Triple Crown at Tates Creek in Lexington, Kentucky

by Channing Hamilton

LEXINGTON, KY. — Newmark has negotiated the sale of Triple Crown at Tates Creek, a 228-unit property in Lexington. RFM Property Group purchased the garden-style community from Monument Capital Management for $19.7 million. The property was 94 percent occupied at the time of sale. Matt Newcomer of Newmark represented the seller in the deal. Additionally, Henry Stimler and Ricky Warner of Newmark arranged a $15 million Fannie Mae acquisition loan on behalf of the borrower.

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Allure Apartments in Denver
ColoradoFinanceInvestment SalesNewsWestern

JLL Capital Markets Arranges $68.3 Million Sale of Allure Apartments in Denver

by Channing Hamilton

DENVER — JLL Capital Markets has arranged the $68.3 million sale of Allure Apartments, 252-unit garden-style property located in the Cherry Creek South neighborhood of Denver. Allure Apartments was built in 2002. The community offers one- and two-bedroom units that average 1,010 square feet in size. Amenities include a fitness center, detached garages, a business center, a coffee bar and a resident clubhouse. JLL represented the undisclosed seller and procured the buyer, Gelt Inc. JLL also worked on behalf of Gelt to secure $43.2 million in acquisition financing through Freddie Mac. …

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