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13931-13951 Illinois St. in Westminster, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $6 Million Sale of Community in Westminster, California

by Channing Hamilton

WESTMINSTER, CALIF. — CBRE brokered the sale of a 17-unit garden-style community in Westminster for $6 million. Dan Blackwell and Andrew Boukather represented the seller and the Orange County, California-based buyers in the transaction. The property is located at 13931-13951 Illinois St. and was constructed in 1963. All units feature two-bedroom layouts. Amenities include private patios, open space parking and an on-site laundry facility. Eighty percent of units were recently renovated with new windows, sliding doors, smoothed ceilings, laundry hookups in select units, new lights, fresh interior paint, ceramic tile flooring and refinished …

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One Plantation in Plantation, Florida
FloridaInvestment SalesNewsSoutheast

Waterton Acquires 321-Unit One Plantation Apartments in Plantation, Florida

by Channing Hamilton

PLANTATION, FLA. — Waterton has acquired One Plantation, a 321-unit apartment community in the western Fort Lauderdale, Florida suburb of Plantation. Newmark’s South Florida team brokered the transaction. One Plantation was built in 2013 as part of the 860-acre Plantation Midtown master plan. The community rises 12 stories and offers one-, two- and three-bedroom floor plans. Amenities include a business center with private work rooms, a movie theater, resident lounges, a dog park, catering kitchen and a fitness center with a cycle studio. Waterton plans to renovate the clubhouse to …

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Shelby Commons in Minneapolis
DevelopmentMidwestMinnesotaNews

Woda Cooper Breaks Ground on Shelby Commons Affordable Housing Community in Minneapolis

by Channing Hamilton

MINNEAPOLIS — Woda Cooper Cos. has broken ground on Shelby Commons, a 46-unit affordable community in the North Loop neighborhood of downtown Minneapolis. Amenities will include a community room, underground parking, a second-floor rooftop terrace, playground and community gardens. The property will also offer 2,000 square feet of public art across two large-scale exterior murals commissioned by Juxtaposition Arts. A timeline for the project’s completion was not provided. Financing for the project from Low-Income Housing Tax Credits allocated by the Minnesota Housing Finance Agency and the City of Minneapolis. Merchants …

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GeorgiaNewsPeople NewsSoutheast

BWE Adds Three Vice Presidents to Atlanta Office

by Channing Hamilton

ATLANTA — BWE, a national commercial and multifamily banking company, has expanded its Atlanta office with the addition of Alan Tapie, Thomas Wiedeman and Brad Walker. Tapie will serve as Executive Vice President. Prior to joining BWE, he served as Office Manager and Senior Vice President in Grandbridge Real Estate Capital’s Atlanta office. He earned his bachelor’s degree in business administration from the University of Georgia and is a CCIM Designee. Wiedeman will serve as a Senior Vice President. Before joining BWE, Wiedeman was a Vice President at Grandbridge Real …

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The Marlowe in Phoenix, Arizona
ArizonaInvestment SalesNewsWestern

Topp Corp. Acquires The Marlowe in Phoenix for $8.4 Million

by Channing Hamilton

PHOENIX — Living Well Homes sold The Marlowe, a 53-unit community in Phoenix, to Topp Corp. for $8.4 million. Paul Bay, Darrell Moffitt, Cliff David and Steve Gebing of Institutional Property Advisors represented the seller and procured the buyer. The Marlowe was built in 1968 and includes amenities such as a central courtyard, pool, laundry facility and assigned parking. The average unit size at the property is 552 square feet.

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Canvas at Castle Rock in Castle Rock, Colorado
ColoradoNewsOperationsWestern

Asset Living Takes Over Management of Canvas at Castle Rock in Castle Rock, Colorado

by Channing Hamilton

CASTLE ROCK, COLO. — Asset Living has taken over management of Canvas at Castle Rock, a 102-unit townhome-style community in Castle Rock, as of June 21, 2023. Canvas at Castle Rock offers one, two and three-bedroom floor plans, as well as amenities such as a pool, fitness center, outdoor exercise space and a clubhouse. According to Apartments.com, the community was built in 2023.

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Woodward Way Apartments in Meridian Township, Michigan
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens $13.9 Million Woodward Way Apartments Near Lansing, Michigan

by Channing Hamilton

MERIDIAN TOWNSHIP, MICH. — Woda Cooper Cos. has opened Woodward Way Apartments, a 49-unit affordable community in Meridian Township, which is 10 miles east of Lansing, Michigan. Financing for the $13.9 million property was supported with federal Low-Income Housing Tax Credits allocated by MSHDA through its competitive Qualified Allocation Plan. Units at Woodward Way Apartments are available to households earning between 30 and 80 percent of the area’s median income. In addition, eight units have attached rental assistance through Project Based Vouchers awarded by the Lansing Housing Commission. There are five …

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Stoneybrook Heights Apartments in Johnson City, Tennessee
Affordable HousingInvestment SalesNewsSoutheastTennessee

Blue Vista Capital Partners Acquires Stoneybrook Heights Apartments in Johnson City, Tennessee

by Channing Hamilton

JOHNSON CITY, TENN. — Blue Vista Capital Partners has acquired Stoneybrook Heights Apartments, an apartment complex in the eastern Tennessee city of Johnson City. Stoneybrook Heights was built in 1998 through the LIHTC program and will become a fully market-rate property in the second half of 2024. Currently, 45 percent of units are market rate. Rent restrictions for the property were not disclosed. The community comprises 88 units across 11 two-story buildings, as well as a single-story leasing office. Units come in two-, three- and four-bedroom layouts.

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129 S. Olive St. in Anaheim, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $5.9 Million Sale of Townhome Community in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — CBRE arranged the sale of a 14-unit community located at 129 S. Olive St. in Anaheim. The property sold to a private investor for $5.9 million. The community was built in 1986 on approximately 15,500 square feet and offers two-bedroom townhome-style floor plans. The property was recently renovated with new paint and replacement of the exterior wood. Dan Blackwell represented the buyer and seller, which was also not disclosed, in this transaction.

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Laurent in Charlotte, N.C.
DevelopmentNewsNorth CarolinaSoutheast

Greystar Breaks Ground on Laurent in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Greystar has broken ground on Laurent, a community located within the Rea Farms suburban center in Charlotte. Rea Farms features over 250,000 square feet of retail space. Laurent will bring 305 rental units to the center, including studio, one-, two- and three-bedroom apartments, as well as townhome-style units. The parcel was initially zoned for office space. Greystar, in cooperation with Lincoln Harris, rezoned the site to include apartments. Laurent is slated for completion in early 2025, with pre-leasing to begin in the second half of 2024.

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