HOUSTON — JLL Capital Markets has hired Jim Humphries as a director to the firm’s single-family rental (SFR) team. In this role, Humphries will focus on SFR and build-to-rent (BTR) investment sales nationally. He will work out of JLL’s Houston office alongside the current SFR team lead, Managing Director Matthew Putterman. Humphries previously served as a senior vice president with Colliers and worked with HFF as part of the Houston multi-housing investment sales team.
RICHMOND, VA. — Greysteel has brokered the sale of Fieldcrest, a 29-unit affordable community in Richmond. Fletcher Hultman and Henry Mathies of Greysteel’s National Affordable Housing team represented the seller, a joint venture between a local development group and April Housing, an affiliate of Blackstone. The buyer is Wincor Holdings, a recently formed private equity company. Fieldcrest was built in 2006 on a site adjacent to the Richmond Raceway. The property is subject to a Land Use Restrictive Agreement that restricts income and rent levels to 50 percent of the area …
NEW ROCHELLE, N.Y. — JLL Capital Markets brokered the $22.7 million sale of The Printhouse, a 71-unit property in the northern New York City suburb of New Rochelle. Invel Capital acquired the asset from an undisclosed seller. JLL’s Jose Cruz, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Marion Jones brokered the deal. The Printhouse was built in 2019. The property offers studio, one- and two-bedroom units as well as 2,700 square feet of commercial space. Amenities include a fitness center, business center, dog park and a rooftop terrace with a …
GREAT FALLS, MT. — Community Preservation Partners (CPP), an affordable housing rehabilitation company, has acquired two developments in Great Falls: Sunshine Village and Broadview Manor East & West. CPP, in partnership with The Hampstead Cos., acquired the communities for $10.6 million. The development team plans to conduct $12.8 million in renovations for the two projects. The properties will remain affordable to households earning 50 percent and 60 percent of the area median income until 2074. Sunshine Village is a 72-unit senior’s community. The three-story building was built in 1979. Sunshine …
DALLAS — Ashland Greene Capital, a multifamily real estate investment firm headquartered in Dallas-Fort Worth, has appointed two new executives to its management team. Peter Hales has joined the board as chief financial officer. Hales will be responsible for overseeing all financial operations at Ashland Greene, including asset management, accounting, finance and acquisitions. Jesse Rosenstock has secured the position of vice president of finance and accounting. In this role, Rosenstock will lead Ashland Greene’s accounting department and contribute to the development of the firm’s finance department.
CHICAGO — Evergreen Real Estate Group has added Jewell Walton to the newly created position of vice president of public partnerships. In this role, Walton will focus on diversifying the firm’s affordable housing portfolio by partnering with public housing agencies to convert assistance for existing public housing communities to long-term, project-based Section 8 contracts under the Rental Assistance Demonstration (RAD) program. Prior to joining Evergreen Real Estate Group, Walton served as deputy chief of RAD programming with the Chicago Housing Authority and as a project manager for S.B. Friedman & …
COSTA MESA, CALIF. — CBRE brokered the sale of a mixed-use property at 2027-29 Harbor Blvd. in Costa Mesa. A local private investor acquired the asset for $3.2 million. Dan Blackwell and Mike O’Neill represented the seller, a private Orange County, California-based partnership. The asset offers 12 rental units across three buildings, as well as a 1,942-square-foot commercial building occupied by an auto trim business. Units come in studio, one- and two-bedroom floor plans. The first building was built in 1949, with subsequent building additions made in 1952, 1954 and 1962.
LOS ANGELES — KeyBank Community Development Lending and Investment (CDLI) has provided $46.4 million in financing for the construction of 2111 Firestone, an affordable community in the Watts neighborhood of Los Angeles. KeyBank CDLI provided $19.7 million in federal and state Low Income Housing Tax Credit equity, a $21.4 million construction loan and a $5.3 million permanent loan to finance the project. Kortney Brown and Ted Witt structured the financing. Sam Adams of KeyBanc Capital Markets Public Finance Group provided the bond underwriting. 2111 Firestone comprises 85 apartments across six …
PLAINSBORO, N.J. — Colony Hills Capital has acquired Addison at Princeton Meadows, a 440-unit community in the Central New Jersey community of Plainsboro. The Massachusetts-based investment firm purchased the asset from Kushner Real Estate Group for $115 million. Allan Szlafrok, Eli Maryl, Ohad Babo, and Michael Weiser of GFI Realty Services represented Colony Hills Capital in the transaction. Addison at Princeton Meadows is a garden-style community that offers studio, one- and two-bedroom units. Amenities include a pool, fitness center, tennis court, basketball court, dog park and outdoor grilling and dining …
WASHINGTON, D.C. — The National Multifamily Housing Council (NMHC) has selected Bernard Fulton as vice president for housing policy and regulation, Latoya Lovick as vice president of membership and Ryan Hecker as a Research Assistant. Fulton comes to NMHC from the Housing Policy Council, where he served as Vice President for Government Relations. Prior to joining the Housing Policy Council, he served as legislative director for Congresswoman Jan Schakowsky, legislative representative for the City of New York and head of Congressional relations for HUD Secretaries Shaun Donovan and Julián Castro. As vice …