MILFORD, CONN. — Wynnewood, Pennsylvania-based investment firm Merion Realty Partners has purchased Halstead Milford, a 246-unit apartment community located in southern coastal Connecticut. The total sales price was undisclosed. Virginia-based REIT AvalonBay Communities originally developed the three-story, garden-style property in 2004. Property amenities include a pool, fitness center, coworking space, game room and outdoor grilling and dining areas. Simon Butler, Biria St. John, Jeff Dunne, John McLaughlin, Eric Apfel, Stuart MacKenzie and Brian Bowler of CBRE represented the seller, an affiliate of The DSF Group, in the transaction. The team …
BLOOMINGTON, IND. — Gray Capital, a private equity firm based in Indianapolis, has acquired Echo Park Apartments, a 154-unit luxury community located in Bloomington for an undisclosed price. The property will be managed by Gray Capital’s property management company, Gray Residential. Echo Park is the fourth property acquired through the company’s $100 million multifamily investment fund, The Gray Fund. Other properties acquired with the fund include Sycamore Terrace in Terre Haute, Indiana, Club Meridian in Lansing, Michigan, and Stonybrook Commons in Indianapolis.
FAYETTEVILLE, ARK. — The ITEX Group and Time Warp Enterprises have released plans for The Aronson, a build-to-rent (BTR) project in Fayetteville that will be anchored by a new moviegoing concept from Austin, Texas-based Alamo Drafthouse Cinema. The 214 units will be available as single-family, duplex or triplex configurations. Amenities will include a clubhouse, fitness center, pool, playgrounds, dog parks and bike parking. The project is anticipated to deliver by 2024. The Aronson will be home to Alamo Drafthouse Cinema + Drive-In, developed via a partnership among Catchlight Entertainment, the …
HOUSTON — Fairstead has secured $25 million in financing from Berkadia, R4 Capital and the Houston Housing Finance Corp. to renovate Coppertree Village Apartments in the Acres Homes neighborhood of Houston. Coppertree Village Apartments is comprised of 324 units set aside for households earning at or below 50 to 60 percent of the area median income (AMI). Fairstead is a developer based out of New York City. The company acquired Coppertree Village Apartments in September 2021. Houston Housing Finance Corp. is a Texas nonprofit focused on providing financing to affordable housing projects …
JERSEY CITY, N.J. — Veris Residential, the development and investment firm formerly known as Mack-Cali Corp., has completed the lease-up of Haus25, a 750-unit, 56-story tower in the downtown area of Jersey City. Haus25 offers studio, one-, two- and three-bedroom floor plans. Amenities include a pool, indoor and outdoor fitness areas, amphitheater, bowling alley, karaoke lounge, game room, golf simulator, pet spa and dog run. When leasing began in spring 2022, monthly rents for a studio apartment started in the low $3000s. The 56-story building is now approximately 93 percent …
CHICAGO — Lendlease has begun pre-leasing at The Reed at Southbank, located at 234 W. Polk St. in Chicago’s South Loop. A 41-story residential tower including rental and for-sale units, The Reed is the second building Lendlease is developing as part of Southbank, its 7-acre master-planned community situated along the Chicago River. The Reed at Southbank features 224 apartments on floors nine through 22, including studio to three-bedroom floor plans ranging from 544 to 1,417 square feet. Prices begin at $2,160 for studios, $2,230 for convertibles, $2,500 for one-bedrooms, $3,710 …
ATLANTA — Fairfield has completed Verge, a 319-unit, partially affordable project along the southside corridor of the BeltLine, a 22-mile loop in Atlanta’s urban core. The project is located between the Peoplestown and Chosewood Park neighborhoods. Atlanta BeltLine Inc. (ABI), an economic development group, pairs developers with public and private partners to ensure multifamily projects constructed in the BeltLine Tax Allocation District (TAD) include affordable units. San Diego-based Fairfield acquired the land for the site in 2019, according to Curbed Atlanta. The developer did not release rent restrictions on the …
FORT WORTH, TEXAS — Avanta Residential has broken ground on Avendale at Chisholm Trail Ranch, a build-to-rent (BTR) community in Fort Worth. Avendale at Chisholm Trail will comprise 247 one-, two-, three- and four-bedroom units. The community will also feature an amenity center with a clubroom, fitness center, green spaces and a pool. Other amenities include courtyards, lounge areas, dog parks, walking trails and playgrounds. The first units at Avendale at Chisholm Trail Ranch will be delivered in Spring 2024. Brownstone Construction will serve as the general contractor for the project. Avanta …
GILBERT, ARIZ. — Wood Partners has opened Alta Cooley Station, a 248-unit community in Gilbert, approximately 22 miles southeast of Phoenix. Alta Cooley Station offers studio, one-, two- and three-bedroom floor plans, as well as townhomes with attached garages. Units feature stainless steel kitchen appliances, walk-in closets and in-unit washers and dryers. Community amenities include a pool with a grilling area, a fitness center and yoga studio, club room, co-working spaces, a coffee bar and a game room.
GOODYEAR, ARIZ. — Blue Vista Capital Management and Family Development have obtained $33.8 million in construction financing for Villas Goodyear, a build-to-rent development in Goodyear about 19 miles west of Phoenix. The development is expected to be complete in 2024. JLL Capital Markets represented the joint venture in securing the three-year, fixed-rate loan through Choice Bank. JLL’s team was led by Brian Walsh, Brad Miner and Dave Hunter. Villas Goodyear will comprise 151 one- and two-bedroom single-story units. Amenities will include a pool, fitness center, an outdoor lounge area and …