NEW YORK CITY — Stav Equities and Invictus Property Advisors have brokered the $2.5 million sale of a property located at 1362 Pacific St. in New York City. The property rises four-stories in the Crown Heights neighborhood of Brooklyn. Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors and Jacob Stavsky of Stav Equities LLC executed the off-market transaction. The buyer and seller were not disclosed.
HUNTERSVILLE, N.C. — The Connor Group has acquired The Alcove at Birkdale Village, a 314-unit community in Huntersville, 20 miles north of Charlotte. This marks the third property in the Charlotte submarket for the Ohio-based buyer. The seller and sales price were not disclosed. Units at The Alcove at Birkdale Village come in one-, two- and three-bedroom floor plans. According to the property website, monthly rents begin at $1,299 per month.
CORPUS CHRISTI, TEXAS — Northmarq has brokered the sale of Coral Cay Apartments, a 109-unit community in Corpus Christi off the Gulf of Mexico. Sparkle Asset Management sold the property to an affiliate of SPV Property Management for an undisclosed price. Coral Cay Apartments was built in 1970 and features an average unit size of 955 square feet. The property was 97 percent occupied at the time of sale. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented both parties in the deal. Cheryl Higley arranged acquisition …
CHATHAM, N.J. — Walters has broken ground on Cornerstone at Chatham, a 63-unit affordable community in Chatham. The project is being developed through a partnership between Walters and Chatham Township. Walters was awarded a 9 percent Low Income Housing Tax Credit. Cornerstone at Chatham will comprise three buildings and offer one-, two- and three-bedroom units. Units will be available to tenants earning at or below 60 percent of the area median income. Rental rates will be based on the renter’s gross annual income, according to the rent/income requirements chart. The …
ROGERS, ARK. — Cushman & Wakefield has brokered the sale of The Fitzroy Grove, a 250-unit community in the northwest Arkansas city of Rogers. Martin Bynum and Craig Hey represented the seller, Huffman & Co. Lurin Capital acquired the property. The Fitzroy Grove was built in 2021. According to the property website, units come in studio, one-, two- and three-bedroom floor plans. Amenities include a pool with cabanas, bocce and pickleball courts, a business center, dog park, package center, fitness center, a lounge and a business center.
LOS ANGELES — JLL Capital Markets arranged the $16.7 million construction take-out financing for The Hobart, a 39-unit community in the Los Angeles neighborhood of Koreatown. Chris Collins and Brad Vansant represented the borrower, Jannone Development, to secure the two-year, floating-rate loan. The Hobart was built in 2023. The building rises six stories at 3050 W. 11th St. Units come in one-, two- and three-bedroom floor plans.
SAN JOAQUIN COUNTY, CALIF. — PACT Capital has arranged a $362 million acquisition land loan for a 1,600-acre property in San Joaquin County, about 60 miles from San Francisco. Originally planned in the 1990s, the site is entitled for 5,500 residential units, as well as 263 acres of entitled multifamily, mixed-use, industrial and commercial space. The buyer was a private family office in Northern California. The acquisition financing was provided through a real estate investment banking syndicate. PACT Capital’s advisory team was led by Adam Mortanian, Tyler Shegerian, Connor Haubursin …
WESTBROOK, MAINE — Preston Hollow Community Capital has purchased $85.7 million in tax-exempt revenue bonds issued by the Finance Authority of Maine. Proceeds from the bond will be used to fund the development of a mixed-use development in Westbrook known as Rock Row. Piper Sandler & Co. served as sole underwriter for the bonds. Kutak Rock LLP served as bond counsel and authority counsel. Jensen Baird Gardner & Henry LLP acted as counsel to the city of Westbrook. Bernstein, Shur, Sawyer & Nelson P.A. served as the underwriter’s counsel. Situated …
PORTLAND, ORE. — Mill Creek Residential has begun the construction of Modera Woodstock, a mixed-use property in Portland. Located at 4804 SE Woodstock Blvd., the community will feature 194 apartments and 6,500 square feet of ground-floor retail space. Units will come in studio, one-, two- and four-bedroom floor plans. Five units will be affordable, but income restrictions for these units were not disclosed. Amenities include a clubhouse, courtyard, rooftop deck with grilling area and fire pit, game room, theater, coffee bar, pet spa and a fitness studio. Tenants will also have …
PORT RICHEY, FLA. — Southeast Property Group has acquired an 80-unit property at 9920 Grace Dr. in Port Richey, a city in Pasco County, Florida. The new owner plans to renovate the community with updates to unit interiors, expansions of on-site amenities and common areas and overall beautification of the exterior curb appeal. The asset will be rebranded as Coral Key Apartments. According to Apartments.com, units come in two-bedroom floor plans.