BOSTON — Randolph, Massachusetts-based NEI General Contracting has completed the renovation of Carol Avenue Apartments, a 33-unit community located in the Allston-Brighton neighborhood of Boston. According to the City of Boston, 29 of the units are affordable rental units. Income restrictions for these residences were not disclosed. The project involved the top-to-bottom renovation of three buildings totaling 16,196 square feet. The community received new windows, roofs, wall insulation and solar energy panels. Additionally, the project team restored and reused the building’s historic brick façade. Financing sources for the project included …
HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property. Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …
PHOENIX — Goodman Real Estate has acquired Town Deer Valley, a 388-unit community in Phoenix, for $131.1 million. Built in 2024 on 18 acres, Town Deer Valley offers amenities such as a 5,900-square-foot clubhouse with arts and crafts room, poker room and sundry shop. Residents also have access to a 3,800-square-foot fitness center and a pool. The average unit size is 1,004 square feet. The seller was a joint venture between The Related Group and Rockpoint. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & …
GYPSUM, COLO. — Brikwell has received an $18.7 million loan through Freddie Mac for the refinancing of Red Table Apartments, a 77-unit community located at 765 Red Table Drive in Gypsum. The property comprises 64,692 rentable square feet on a 3.6-acre site. Tony Nargi of JLL Capital Markets arranged the 10-year, fixed-rate loan, which will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2009 and expanded in 2018, Red Table Apartments offers a mix of studio, one- and two-bedroom units. The three-story community …
KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank. Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and …
SAN ANTONIO — Cleveland-based developer The NRP Group has completed Los Arcos at Vida, an $81 million affordable housing project in San Antonio. Located within the 600-acre Vida master-planned development, Los Arcos at Vida consists of 324 apartments, which are reserved for households earning between 30 and 70 percent of the area median income. Units come in one-, two, three- and four-bedroom floor plans. Community amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and laundry facilities. …
CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …
BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …
PHOENIX, ARIZ. — Goodegg Investments has purchased North Edge Apartments, a 71-unit community in Phoenix, for an undisclosed price. According to Apartments.com, the property was completed in 1979 and consists entirely of one-bedroom units. Most of the apartments, as well as common areas, were renovated within the last 2 years. North Edge Apartments is the 38th multifamily community that Goodegg Investments has acquired since the company’s inception in 2018. The San Francisco, California-based firm now owns approximately 9,000 apartments, with roughly 4,500 currently under management.
LEBANON, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Stonehenge, a 228-unit community in Lebanon, about 20 miles east of Nashville. The asset traded hands for $52 million. The buyer and seller were not disclosed. Built on a 13-acre site in 2023, Stonehenge offers units ranging from one- to three-bedrooms. Amenities include a saltwater pool, clubhouse, fitness center and entertainment lounge. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Additionally, …