LITHIA SPRINGS, GA. — Northland has acquired 670 Thornton, a 344-unit community in the Atlanta suburb of Lithia Springs. 670 Thornton is situated on a 46-acre site approximately 15 miles west of Atlanta. Units come in studio, one-, two- and three-bedroom floor plans. The property features secure gated entry, a fitness center, business center, grilling areas, a pet park, two pools, a theater room, a playground, tennis courts and a walking trail. Northland plans to renovate the complex by adding a valet trash program, SmartRent technology and in-unit washers and …
HOUSTON — Triten Real Estate Partners has topped out the first phase of The Mill, the redevelopment of an 1890s lumber mill in Houston’s East End district. The Mill will comprise 341 units across seven stories, as well as 6,000 square feet of retail space and a seven-story parking garage. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, clubroom and outdoor grilling stations. Michael Hsu Office of Architecture designed the project, and Arch-Con Corp. is serving as the general contractor. Preleasing …
SURPRISE, ARIZ. — Mark-Taylor Residential and Sunstone Two Tree have completed Sierra Verde, a townhome-style build-to-rent community in the Phoenix suburb of Surprise. Sierra Verde offers two- and three-bedroom homes with attached garages, gated patio entry and smart home technology. The average unit size is 1,331 square feet. Amenities include a pool and spa, a playground and a fitness center.
LOGANVILLE, GA. — JLL Capital Markets has arranged $26.8 million in construction financing for Rosebud Place, a 139-unit build-to-rent community in the Atlanta suburb of Loganville. The borrower was a joint venture between Landeavor and LAMB Properties. JLL’s Matthew Putterman, Danny Kaufman, Chris Knight and Ware Shipman represented the joint venture to secure the five-year, floating-rate loan through a regional bank. Rosebud Place will offer three- and four-bedroom homes ranging in size from 1,833 to 1,854 square feet. Amenities will include pool, dog park, children’s play area and walking trails.
WESTFIELD, IND. — CenterSquare has acquired Casey Corner, an 80-unit build-to-rent community currently under construction in the Indianapolis suburb of Westfield. The final deliveries of the townhome-style units are slated for February 2024. Units average 1,750 square feet with three bedrooms and attached two-car garages. The acquisition of completed homes will occur in stages as the project is built. The seller and purchase price were undisclosed.
NEW YORK CITY — Walker & Dunlop has provided a $35.6 million Fannie Mae loan for the refinancing of an affordable housing portfolio in New York City. The portfolio comprises 251 units across eight buildings Brooklyn’s Williamsburg neighborhood. Frank Cassidy and John Gilmore of Walker & Dunlop worked alongside New York City Housing Preservation & Development and the New York City Housing Authority to secure the financing. The financing is structured with a fixed interest rate, 35-year amortization schedule and five years of interest-only payments. The borrower, Grower Housing Development …
AURORA, COLO. — JLL Capital Markets has arranged a construction loan and advised on the joint-venture equity placement for the development of Kairoi Metro Center, a 419-unit community in the Denver suburb of Aurora. Leon McBroom, Travis Anderson and Kevin Barron represented the borrower, Kairoi Residential, in securing the six-year, floating-rate loan through a two-bank syndication. Kairoi Metro Center will feature one-, two- and three-bedroom units with an average size of 831 square feet. The property will also include two small urban parks. The project is slated to deliver in …
JERSEY CITY, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has topped out Journal Square Urby in Jersey City. The development rises 265 feet and will offer 317 units across 25 stories at full build-out. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center with a yoga studio, rooftop garden, outdoor grilling and dining areas, a lobby café and a dog park. Dutch architecture firm Concrete and New York City-based HLW designed the project. Journal Square Urby is slated …
SAN ANGELO, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of two multifamily properties — Capri Apartments and Bryant Place — in the West Texas city of San Angelo. William Stover Jr. of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Additional terms of sale were not disclosed. Capri Apartments is located at 608 W Ave M, while Bryant Place is located at 1521 S Bryant Blvd.
HOLLYWOOD, FLA. — Pinnacle has secured $47.8 million in financing to build the second phase of Pinnacle 441, an affordable housing community in Hollywood. The first phase of the project comprises 113 affordable units and 8,000 square feet of commercial space. Phase two of Pinnacle 441 will rise eight stories on a 1.7-acre site just west of the first phase. The development will offer 100 one-, two- and three-bedroom units that will be affordable to tenants earning up to 60 percent of the area median income. Construction will begin in September and is …