News

Tapestry at the Realm in Lewisville, Texas

Bright Realty Nears Completion of 362-Unit Tapestry at The Realm in Dallas Suburb

by Channing Hamilton October 16, 2023

LEWISVILLE, TEXAS — Bright Realty is approaching completion of Tapestry at The Realm in the northern Dallas suburb of Lewisville. Tapestry at The Realm will comprise 362 units across four stories. Units will come in studio, one- and two-bedroom floor plans. Amenities will include a fitness center with a sauna, game lounge, business center and conference room. ANDRES Construction is overseeing the project’s development. B2 Architecture + Design designed the property. Pre-leasing is slated to begin in November 2023. The first units will open for occupancy in December 2023.

October 16, 2023

Finance Massachusetts News Northeast

Marcus & Millichap Arranges $5 Million Agency Acquisition Loan for The Grant Street Complex in Framingham, Massachusetts

by Channing Hamilton October 13, 2023

FRAMINGHAM, MASS. — Marcus & Millichap Capital Corp. has arranged a $5 million Freddie Mac acquisition loan for The Grant Street Complex, a 26-unit community in the Boston suburb of Framingham. Robert Bhat of Marcus & Millichap originated the financing. The borrower and direct lender were not disclosed. The Grant Street Complex offers one-, two- and three-bedroom apartments.

October 13, 2023

Investment Sales Nevada News Western

Avison Young Brokers $15.4 Million Sale of Madison at Green Valley in Henderson, Nevada

by Channing Hamilton October 13, 2023

HENDERSON, NEV. — Avison Young has arranged the sale of Madison at Green Valley, a community in the Las Vegas suburb of Henderson. Brisas GD LLC acquired the asset from Pacifica Henderson LLC for $15.4 million. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young’s Sauter Multifamily Group negotiated the transaction for both the buyer and seller. Constructed in 1992 on four acres, Madison at Green Valley features 88 one- and two-bedroom apartments, with an average unit size of 942 square feet.

October 13, 2023

Berkadia Georgia Investment Sales News Southeast

Berkadia Brokers $70.5 Million Sale of Grace Apartment Homes Roswell in Atlanta Suburb

by Channing Hamilton October 13, 2023

ROSWELL, GA. — Berkadia has brokered the $70.5 million sale of Grace Apartment Homes Roswell, a 396-unit multifamily property in the northern Atlanta suburb of Roswell. Andrew Mays, Paul Vetter, Matt White, Judy MacManus and Ian Shaw of Berkadia represented the seller, MSC Investment, in the deal. RH Investment Management purchased the property. Grace Apartment Homes Roswell offers one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and a business center.

October 13, 2023

Development News North Carolina Southeast

AvalonBay to Develop 930-Unit Community in Durham, North Carolina

by Channing Hamilton October 13, 2023

DURHAM, N.C. — AvalonBay Communities has purchased 6.8 acres at 4802 Durham-Chapel Hill Blvd. in Durham to develop a 930-unit community. The first phase of development will comprise 459 units across three buildings. Units will come in studio, one-, two- and three-bedroom layouts. Amenities at the property will include a pool, grilling areas, an indoor-outdoor fitness center and several courtyards. Construction is scheduled to begin in 2024, with the opening expected for 2026. CBRE represented the seller, Beacon Properties Group, in the transaction.

October 13, 2023

Investment Sales News South Carolina Southeast

Marcus & Millichap Brokers $5.4 Million Sale of Clement Arms Apartments in North Charleston, South Carolina

by Channing Hamilton October 12, 2023

NORTH CHARLESTON, S.C. — Marcus & Millichap has brokered the $5.4 million sale of Clement Arms Apartments, a 49-unit community located at 1815 Clements Ave. in North Charleston. Ryan Lipomi, Will Graves and Nate McDaniel of Marcus & Millichap’s Charleston office represented the seller and procured the buyer in the transaction. Both parties requested anonymity. Clement Arms Apartments was built in 1980 on 1.2 acres.

October 12, 2023

Development New Jersey News Northeast

Diversified Properties Begins Construction of Jefferson Place in Jefferson, New Jersey

by Channing Hamilton October 12, 2023

JEFFERSON, N.J. — Diversified Properties has broken ground on the first phase of construction at Jefferson Place, a development located on Hellers Lane in Jefferson. The first phase of the project will include an elevator-served building with 32 one and two-bedroom apartments. Units will range from 855 to 1,216 square feet in size. Planned amenities include private garages, a fitness center, outdoor lounge, grilling areas and individual storage units. Phase one is scheduled for completion in the fall of 2024.

October 12, 2023

Development New York News Northeast

Slate Property Group Tops Out 19-Story Project at 159 Boerum Street in Brooklyn

by Channing Hamilton October 11, 2023

BROOKLYN, N.Y. — Slate Property Group has topped out a 19-story building at 159 Boerum Street in Brooklyn’s East Williamsburg neighborhood. Once completed, the property will offer 162 units, 49 of which are affordable. Income restrictions for the affordable units were not disclosed. Planned amenities include a fitness center, roof deck, parking garage and bike storage. The development team also includes Avenue Realty Capital and SD Builders and Construction LLC. Construction is expected to complete in the summer of 2025.

October 11, 2023

Georgia Investment Sales News Southeast

Cushman & Wakefield Arranges Sale of 257-Unit SODO Duluth in Atlanta Suburb

by Channing Hamilton October 11, 2023

DULUTH, GA. — Cushman & Wakefield has arranged the sale of SODO Duluth, a 257-unit community in the Atlanta suburb of Duluth. The Residential Group and PointOne Holdings sold the property to Weinstein Properties for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren and Michael Kay of Cushman & Wakefield represented the sellers in the deal. SODO Duluth was recently built earlier this year. According to the property website, units come in studio, one- and two-bedroom floor plans. Amenities include a clubhouse, fitness center, pool, dog park, barbeque and picnic area, …

October 11, 2023

240 West State Street in Trenton, New Jersey

Development Investment Sales New Jersey News Northeast

Fennelly Associates Brokers Sale of 16-Story Conversion Project in Trenton, New Jersey

by Channing Hamilton October 11, 2023

TRENTON, N.J. — Fennelly Associates has negotiated the sale of 240 West State Street, a 240,000-square-foot office building in Trenton. The undisclosed buyer plans to redevelop the 16-story property into an apartment building. Plans for the new community include a mix of studio, one and two-bedroom units, as well as amenities such as a fitness center, pool and cafe. The company will also renovate the building’s parking garage. Jerry Fennelly of Fennelly Associates represented the seller, Garden State Commercial Properties, in the deal.

October 11, 2023

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