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Rye-SoBo-Denver
ColoradoFinanceNewsWestern

JLL Arranges Refinancing for Price Brothers’ Rye SoBo in Denver

by Lynn Peisner

DENVER — JLL has arranged a floating-rate loan for Price Brothers to refinance Rye SoBo, a 353-unit property in Denver. The amount of the loan was not disclosed. RyeSoBo, located at 290 W. Alameda Ave. in the South Broadway area of Denver, was developed in 2021 and includes studios, one- and two-bedroom units and amenities such as a rooftop lounge with mountain and downtown views, a two-story fitness center, a two-story coworking lounge with conference rooms, a pool with a hot tub, a beer garden with outdoor games, a pet …

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Inscription-West-Palm
Company NewsFinanceInvestment SalesNews

ECI Group, ApexOne Launch $500M Value-Add Fund

by Lynn Peisner

ATLANTA — Atlanta-based ECI Group and Houston-based ApexOne Investment Partners have formed a joint venture and a fund to acquire, redevelop and manage multifamily assets throughout the Sun Belt. ApexOne-ECI Multifamily Fund VI will seek total equity capitalization of $500 million. ECI and ApexOne have agreed to co-invest a combined total of approximately $100 million. New York City-based Almanac Realty Investors has committed $350 million. Fund acquisition criteria include existing assets rather than ground-up developments with an emphasis on newer-vintage communities and traditional assets, including workforce housing, all with investment …

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Westermark-Sugar-Land
DevelopmentFinanceNewsTexas

Elm Real Estate Group Secures Construction Financing for The Westermark in Sugar Land, Texas

by Lynn Peisner

SUGAR LAND, TEXAS — Patterson Real Estate Advisory Group has arranged a construction loan for The Westermark, a 165-unit project in the southwestern Houston suburb of Sugar Land. The Westermark will consist of two five-story buildings containing studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, resident lounge and coworking space. Wintrust Commercial Real Estate provided the loan to the developer, Elm Real Estate Group, which is an affiliate of Indianapolis-based KCG Cos. Neither a construction timeline nor the loan amount was disclosed.

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El-Dorado-Apartments-Belmont
CaliforniaInvestment SalesNewsWestern

El Dorado Apartments in Bay Area Trades for $20.2M

by Lynn Peisner

BELMONT, CALIF. — Marcus & Millichap has arranged the sale of El Dorado Apartments in Belmont, approximately 22 miles south of San Francisco. The 39-unit community traded between two undisclosed parties for the sum of $20.2 million, or $518,910 per unit. Marcus & Millichap’s Robert Johnston, Adam Levin and Arman Sadigh led the transaction. Constructed in 1962, El Dorado Apartments is comprised of a mix of one- and two-bedroom units. Amenities include a fitness center and private, covered parking.

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Corsica-Euclid-Phoenix
ArizonaBuild-to-RentDevelopmentNewsWestern

Rockefeller Group Opens First of Two Phoenix BTR Projects

by Lynn Peisner

PHOENIX — Rockefeller Group’s Corsica Villas at 20th Street in South Phoenix is now complete, and residents have begun moving in. A sister community, Corsica Villas at Euclid & 7 Street, is expected to open later this summer. The two gated communities include 152 two-story townhomes. Corsica Villas at Euclid & 7th Street will offer 84 residences, including three-bedroom townhomes with covered reserved parking spaces, and two-bedroom carriage-style units with attached one-car garages. Residents at both communities will have access to amenities such as a heated pool and a hot …

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FinanceFloridaNewsSoutheast

Trevato Development Group Lands $78 Million Refinancing for Jacksonville Development

by Lynn Peisner

JACKSONVILLE, FLA. — Trevato Development Group has refinanced The Station at San Marco, a 345-unit project in the San Marco neighborhood of Jacksonville. An undisclosed insurance company funded the $78 million loan to take out construction debt. The property was completed in 2024 and is located at 1230 Hendricks Ave. Trevato is a sister company to Jacksonville-based multifamily developer Block One Ventures.

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76-E-Park St-East-Orange
Investment SalesNew JerseyNewsNortheast

ICON Real Estate Advisors Arranges Sale in East Orange, New Jersey

by Lynn Peisner

EAST ORANGE, N.J. — Locally based ICON Real Estate Advisors has arranged the sale of a 26-unit property at 76 E. Park St. in East Orange, N.J. The asset traded between two LLCs for approximately $2.6 million. The deal was completed by David Oropeza, who advised the seller on the purchase more than 20 years prior. The seller was also advised by attorney Khoren Bandazian of Giordano, Halleran & Ciesla. The property comprises a two-story, 26-unit garden style building.

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River-Oaks-Tucson
ArizonaInvestment SalesNewsWestern

IPA Arranges Sale of River Oaks in Tucson, Arizona

by Lynn Peisner

TUCSON, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of River Oaks, a 300-unit property in Tucson. Neither the sales price, buyer nor seller were disclosed. IPA’s Clint Wadlund and Hamid Panahi represented the seller and procured the buyer. River Oaks is located in East Tucson on Broadway Boulevard. The property was developed on 10 acres in 1982. Units are offered as studio, one- and two-bedroom units. Amenities include a stand-alone clubhouse, two pools, a playground and three laundry facilities.

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Modera-Paramus
DevelopmentNew JerseyNewsNortheast

Mill Creek Residential Breaks Ground on Westfield Mall Redevelopment in Paramus, New Jersey

by Lynn Peisner

PARAMUS, N.J. — Mill Creek Residential has broken ground on Modera Garden State Plaza, a mixed-use community in Paramus. Two separately branded residential buildings will contain a total of 575 units as well as 48,000 square feet of ground-floor retail space. The community will serve as a residential component of the redevelopment of Unibail-Rodamco-Westfield’s Garden State Plaza mall. Amenities will include a rooftop deck, resort-style pool, sauna, outdoor kitchen and dining space, grilling areas, fire pits, landscaped courtyards, resident clubhouse, coffee bar, game room, pool table and a fitness center …

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Affordable HousingCompany NewsNew YorkNewsNortheastPeople News

Enterprise Community Partners Hires Kim Darga to Lead New York Business

by Lynn Peisner

COLUMBIA, MD. — Enterprise Community Partners, a national nonprofit affordable housing developer, has hired Kim Darga as vice president and New York market leader. In this role, Darga will lead Enterprise’s work across New York State, including New York City. Prior to joining Enterprise, Darga most recently served as deputy commissioner for the Office of Development at the New York City Department of Housing and Preservation (HPD), the municipal housing agency serving the five boroughs of the New York City metro area. Darga worked for HPD for 18 years in …

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