FLORHAM PARK, N.J. — Garden Communities has begun leasing 147 Columbia, a 126-unit complex in the Northern New Jersey borough of Florham Park. The site is located at 147 Columbia Turnpike and formerly housed an office building. The redevelopment began last year. The community now offers one- and two-bedroom floor plans that range from 861 to 1,535 square feet in size. Units feature with stainless steel appliances, custom cabinetry and individual washers and dryers.
PHOENIX — JLL Capital Markets has added Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke to the firm’s multifamily investment sales advisory team in Phoenix. The team will focus on multifamily investment sales, including private capital and institutional deals. They will report to Ben Geelan and Brad Miner, who serve as co-leads of the Phoenix office. Prior to joining JLL, the team was a part of CBRE’s Phoenix Multifamily Investment Properties team. Most recently, Smuckler and Seaman held positions as executive vice presidents and co-leads of the team, and …
PHOENIX — IDEAL Capital Group has acquired Sentio, a 325-unit property in Phoenix, from Hines. The asset traded hands for $108 million. Sentio was built in 2023. Units feature open-concept floor plans, smart-home technology, energy-efficient appliances and window treatments. Residents have access to interconnected amenity spaces and walking paths. Asher Gunter, Matt Pesch, Austin Greon and Sean Cunningham of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.
HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a transit-oriented community in the Miami suburb of Hialeah. Upon completion, the property will comprise 559 units across two towers. Units will come in two-bedroom floor plans and range in size from 500 to 800 square feet. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of Metro Center, a mixed-use development that will comprise roughly 2.3 million square feet of multifamily and retail space. Metro Center …
SANDY, UTAH — Institutional Property Advisors (IPA) has brokered the sale of Meridian Heights, a 96-unit community in the Salt Lake City suburb of Sandy. Meridian Heights was built in 1998 on five acres. The property offers one- and two-bedroom units, as well as amenities such as covered parking, a clubhouse and laundry room. Tablerock Capital sold the the asset to Orion Real Estate Partners for an undisclosed price. Danny Shin and Brock Zylstra of IPA represented the seller and procured the buyer.
WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has filed a petition to appeal the Federal Communications Commission’s (FCC) Digital Discrimination Rule. The new rule includes property owners as a “covered entity,” which would hold housing providers liable under the FCC’s enforcement scheme if adequate broadband internet connectivity is not available to its renters. The rule is slated to go into effect on March 22, 2024. NMHC stated in a press release that while it supports the goal of ending digital discrimination, it feels the new rule is overly …
ALBANY, N.Y. — KeyBank Real Estate Capital (KBREC) has provided a $14.2 million fixed rate loan through Fannie Mae to refinance existing debt for 930 on Broadway, a workforce housing community in the Warehouse District of Albany. Dirk Falardeau and Mark Flanders of KBREC Commercial Mortgage Group structured the financing. Redburn Development Partners was the borrower. 930 on Broadway comprises a four-story building housing 81 apartments, as well as 12,155 square feet of commercial space. The property is situated on a 1.5-acre site and offers 47 parking spaces. Redburn Development Partners …
PORTLAND, ORE. — Northwest Housing Alternatives has opened Emmons Place, a 146-unit affordable housing community in the historic Alphabet District of Portland. Emmons Place is available to households earning at or below 60 and 30 percent of the area median income. Priority populations include communities of color, individuals with disabilities and seniors exiting homelessness who will receive Permanent Supportive Housing services through the Northwest Pilot Project, which connects low-income seniors to affordable housing. The Portland Housing Bureau allocated $19.7 million from the Portland Housing Bond to the project’s development.
HARTFORD, CONN. — Chozick Realty Inc. has negotiated the sale of The Mill at Still River Apartments, a 39-unit community in the northwest Connecticut of Winsted. The Mill at Still River Apartments was originally constructed as a mill in 1887. The property was converted into apartments in 1986. Units feature exposed brick walls and beams. The asset traded hands for $4 million. Steve Pappas of Chozick Realty represented the buyer and seller in the transaction. Both parties were undisclosed.
ATLANTA — Woda Coooper Cos. Inc. and Parallel Housing Inc. have delivered Stanton Park Apartments, a 56-unit affordable housing community in the Peoplestown neighborhood of Atlanta. Stanton Park offers 36 one-bedroom and 20 two-bedroom units, which are set aside for households earning 30 to 80 percent of the area median income. Ten units are reserved with project-based vouchers for tenants who experienced homelessness. The Fulton County Department of Behavioral Health and Developmental Disabilities has agreed to provide support service for the 10 voucher households for 10 years. Hooker DeJong designed the …