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Artesia in Everett, Washington
Investment SalesNewsWashingtonWestern

RISE Properties Trust Sells Artesia in Suburban Seattle for $61.6 Million

by Channing Hamilton

EVERETT, WASH. — MG Properties has purchased Artesia, a 192-unit apartment property in the Seattle suburb of Everett, from RISE Properties for $61.6 million. Giovanni Napoli Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA) represented the seller and procured the buyer. IPA Capital Markets team Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson arranged the acquisition financing. Built in 1990 and updated between 2018 and 2022, Artesia’s units feature quartz countertops, stainless steel appliances, tile fireplace surrounds and reclaimed wood mantles.

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Abberly Royal Creek in Fuquay-Varina, North Carolina
DevelopmentNewsNorth CarolinaSoutheast

HHHunt Breaks Ground On $62.7 Million Abberly Royal Creek Near Raleigh, North Carolina

by Channing Hamilton

FUQUAY-VARINA, N.C. — HHHunt Corp. has broken ground on Abberly Royal Creek, a 250-unit community in the Raleigh, North Carolina suburb of Fuquay-Varina. Abberly Royal Creek will offer one-, two- and three-bedroom floor plans, as well as amenities such as a fitness center, a business lounge, a pool with a tanning shelf, dog park, pet spa and smart home technology from ADT Security in every unit. Each building will rise four stories. HHHunt’s investment in the project is expected to total $62.7 million.

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he Enclave at Deer Moss Creek in Niceville, Florida
DevelopmentFloridaNewsSoutheast

FaverGray Breaks Ground on The Enclave at Deer Moss Creek in Niceville, Florida

by Channing Hamilton

NICEVILLE, FLA. — FaverGray has begun development of The Enclave at Deer Moss Creek, a 303-unit community in Niceville, 10 miles north of Destin, Florida. The Enclave at Deer Moss Creek comprises eleven buildings across 18 acres. Amenities include a clubhouse, a pool, gas fire pits, an outdoor kitchen, two dog parks, two playgrounds and a mail kiosk. The complex is set to be available to residents in 2024. HEDK is serving as the architect for the project. Jenkins Engineering is providing civil engineering services. Jordan & Skala Engineers is …

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Tuscany Bay in Lawrenceberg, Indiana.
FinanceIndianaInvestment SalesMidwestNews

Revitate Cherry Tree Acquires Tuscany Bay Near Cincinnati, Closes Fund Activity With $110 Million Portfolio

by Channing Hamilton

LAWRENCEBERG, IND. — Revitate Cherry Tree has acquired Tuscany Bay, a 96-unit property in Lawrenceburg, approximately 26 miles west of Cincinnati. Built in 1999, Tuscany Bay offers two- and three-bedroom floor plans, as well as amenities such as a clubhouse, pool, playground, TV room and fitness center. The property is located 17 miles from the Amazon Air Hub, a $1.5 billion air cargo facility at the Cincinnati/Northern Kentucky International Airport. With the acquisition of Tuscany Bay, Revitate Cherry Tree has completed investment in its multifamily fund with a $110 million portfolio comprising 841 …

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NewsPeople NewsSoutheastTennessee

JLL Capital Markets Adds Lee Harris to Nashville, Tennessee Team

by Channing Hamilton

NASHVILLE, TENN. — JLL Capital Markets has selected Senior Director Lee Harris to join its multifamily team in Nashville. In this role, Harris will work alongside Senior Managing Director Brian Dawson on agency debt, as well as providing capital stack solutions to multifamily, mixed-use and MHC clients. Prior to joining JLL, Harris served as a Director at Greystone. He also held positions at RED Capital Group and Lument. Harris earned his degree from the University of Southern California.

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Sam Zell
IllinoisMidwestNewsPeople News

Sam Zell, Equity Residential Founder, Champion of REIT Model, Dies at 81

by Channing Hamilton

CHICAGO — Tributes highlighting the life and legacy of billionaire real estate investor Sam Zell, the charismatic founder and chairman of Chicago-based Equity Residential (NYSE: EQR) who died May 18 at the age of 81, have continued to pour in following his passing.  “Sam Zell was one of the most influential individuals, not just in commercial real estate, but in American business writ large. He was a great friend and an advocate on behalf of the multifamily industry,” said former National Multifamily Housing Council Chair David Schwartz in a statement from …

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FloridaNewsPeople NewsSoutheast

Greystone Housing Impact Investors Hires Jason Kaye as Managing Director

by Channing Hamilton

FORT LAUDERDALE, FLA. — Greystone Housing Impact, an affiliate of Greystone and general partner of Greystone Housing Impact Investors (NYSE: GHI), has selected Jason Kaye as a managing director. In this role, Kaye will focus on originating and structuring tax-exempt loan and bond financing transactions for affordable multifamily and Low-Income Housing Tax Credit properties. Kaye will be based out of Fort Lauderdale and will report to Kenneth Rogozinski, CEO of Greystone Housing Impact Investors. Prior to joining Greystone Housing Impact, Kaye served as a senior vice president at Regions Bank …

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IllinoisInvestment SalesMidwestNews

KCB Real Estate Purchases Property at 914 W. Hubbard St. Near Chicago’s Fulton Market District 

by Channing Hamilton

CHICAGO — KCB Real Estate has acquired a 26-unit community in Chicago for an undisclosed price. Built at 914 W. Hubbard St. in 2006, the asset offers a mix of one- to five-bedroom floorplans. Units feature washers and dryers, dishwashers, walk in closets, and patios or balconies. The property is located two blocks from Chicago’s Fulton Market District and approximately two minutes from Google’s Chicago headquarters. The Pasadena, California-based KCB Real Estate plans to renovate the building façades and units, beginning with improvements to the sidewalls and the lobby.

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CaliforniaNewsPeople NewsWestern

CBRE Hires Multifamily Investment Sales Team to Woodland Hills Office in Los Angeles

by Channing Hamilton

LOS ANGELES — CBRE has selected John Boyett as first vice president and Adam Feldman as a senior associate in the firm’s Woodland Hills office in Los Angeles. Boyett and Feldman will focus on multifamily investment sales in the Los Angeles metropolitan area. Boyett previously served as associate vice president at Matthews Real Estate Investment Services (Matthews). Prior to joining Matthews, he played several seasons with the Indianapolis Colts and Denver Broncos in the National Football League as well as the Ottawa Redblacks in the Canada Football League. Boyett graduated from the University …

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An aerial shot of Avenida Watermarq in Germantown, Tennessee.
FinanceNewsSoutheastTennessee

Joint Venture Secures $24.1 Million to Refinance Avenida Watermarq Near Memphis, Tennessee

by Channing Hamilton

GERMANTOWN, TENN. — A joint venture between Passco Companies and Avenida Partners has secured $24.1 million to refinance Avenida Watermarq, a lakefront 161-unit building in Germantown, which is an eastern suburb of Memphis, Tennessee. Knighthead Funding provided the loan. Avenida Watermarq offers one- and two-bedroom floor plans across four stories. The community includes amenities such as a fitness center, library, courtyard, swimming pool, grill area, game room, pet park, theater, art studio and detached garages.

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