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Shalimar Estates in Burnsville, Minnesota
Investment SalesMidwestMinnesotaNews

JLL Capital Markets Brokers Sale of 48-Unit Shalimar Estates in Burnsville, Minnesota

by Channing Hamilton

BURNSVILLE, MINN. — JLL Capital Markets has negotiated the sale of Shalimar Estates, a townhome community comprising 48 units in Burnsville, 15 miles south of Minneapolis. JLL represented the seller, Gaughan Cos., in the deal. The buyer was not disclosed. Josh Talberg and Bill Mork led the JLL Capital Markets Investment Sales Advisory team. Shalimar Estates is part of Gaughan’s 800-unit Minnesota Legacy Apartment Portfolio, which JLL has been marketing for sale. The community is situated on 5.6 acres at 13340 Parkwood Dr. Townhomes come in three-bedroom layouts and feature washers …

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Beachwood Apartments in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $8.7 Million Sale of Beachwood Apartments in Huntington Beach, California

by Channing Hamilton

NEWPORT BEACH, CALIF. — CBRE has arranged the sale of Beachwood Apartments, an 18-unit community in Huntington Beach. The asset traded hands for $8.7 million. Dan Blackwell and Mike O’Neill of CBRE represented both the buyer and seller in the deal. The seller was a repeat client based in Huntington Beach, California. The buyer was an undisclosed private investor headquartered in Fountain Valley, California. Beachwood Apartments was built in 1971 at 125 16th Street. The community totals 0.4 acres across six lots. Units come in one-, two- and three-bedroom floor …

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The Rise Walnut Creek in Walnut Creek, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Negotiates Sale of 97-Unit The Rise Walnut Creek in Walnut Creek, California

by Channing Hamilton

WALNUT CREEK, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Rise Walnut Creek, a 97-unit community in Walnut Creek, about 16 miles east of Oakland, California. Hines purchased the asset from Rescore for an undisclosed price. Alex Tartaglia, Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA represented the seller and procured the buyer in the deal. The Rise Walnut Creek was completed in 2023. Units come in studio, one-, two- and three-bedroom layouts. Apartments feature washers and dryers, wide plank flooring …

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V by Alta in Orlando, Florida
DevelopmentFloridaNewsSoutheast

Wood Partners Breaks Ground on 219-Unit V by Alta in Orlando, Florida

by Channing Hamilton

ORLANDO, FLA. — Wood Partners has broken ground on V by Alta, a 219-unit development located at 10149 Arise Loop in Orlando. The community will offer a mix of studio, one-, two- and three-bedroom units. Planned amenities include a lobby lounge, clubroom, business lounge, fitness center, game room, pool, pet park with pet wash station, grilling stations, bike racks and EV charging stations. The fifth floor will also feature a Fireworks Lounge, where tenants can watch nightly fireworks from the nearby theme parks.

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DevelopmentLeasing & MarketingMidwestMissouriNews

Thompson Thrift Opens 300-Unit The Depot Near Kansas City

by Channing Hamilton

RAYMORE, MO. — Thompson Thrift has opened The Depot, a 300-unit property in the Kansas City suburb of Raymore. The Depot is located at 101 S. Dean Ave., adjacent to the Raymore Galleria, a 400,000-square-foot shopping center. Apartments come in one-, two- and three-bedroom floor plans. Amenities include a fitness center, pool, dog park and speakeasy-inspired clubhouse. Rents begin at $1,295 per month. The nine-story building is currently nearly 30 percent leased.

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Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassHousing Provides $41.6 Million in Financing for Affordable Housing Development in Cambridge, Massachusetts

by Channing Hamilton

CAMBRIDGE, MASS. — MassHousing has provided $41.6 million in financing for a 106-unit affordable housing development at 52 New Street in Cambridge. The majority of the funds consists of a $15.4 million permanent loan, as well as $24.7 million in tax credit equity bridge financing. The borrower was locally based social services provider Just A Start. Once completed, the community will feature one-, two- and three-bedroom apartments for households earning 30, 60 and 80 percent of the area median income. The property will also include 3,500 square feet of commercial …

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Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $9.3 Million Sale of 22-Unit The West in Brooklyn

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has arranged the sale of The West, a 22-unit building located at 144 West Street in Brooklyn. The building was completed in 2021 and offers one- and two-unit floor plans. Amenities include a package room, urban garden, lounge with a bar and rooftop deck. Private investor Chesky Landau purchased the asset from an undisclosed seller for $9.3 million. Shaun Riney, Michael Salvatico and Samuel Leppo of Marcus & Millichap represented the seller and procured the buyer.

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Kingsley Apartments in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

Colliers Mortgage Negotiates $24.4 Million Construction Financing for Affordable Housing Property in Los Angeles

by Channing Hamilton

LOS ANGELES — The Los Angeles Colliers Mortgage Structured Finance Group has arranged a $24.4 million construction loan for Kingsley Apartments, a 136-unit affordable housing development in the Koreatown neighborhood of Los Angeles. Once completed, Kingsley Apartments will comprise 72,800 square feet. The community will offer studio and one-bedroom floor plans. Units will be available to residents earning up to 80 percent of the area median income. The undisclosed borrower plans to break ground on the project in June 2024. Jonathan Lee, Shahin Yazdi, William Hyatt and Tommy Adelson of …

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DevelopmentLeasing & MarketingMichiganMidwestNews

Thompson Thrift Opens 344-Unit The BLVD at Wilson Crossings in Grand Rapids, Michigan

by Channing Hamilton

WYOMING, MICH. — Thompson Thrift has opened The BLVD at Wilson Crossings, a 344-unit asset in the Grand Rapids suburb of Wyoming. The property offers townhome-style units that come in one- to four-bedroom floor plans. Select units feature attached garages and private yards. Amenities include a clubhouse, fitness center, pickleball courts, game lawn with fire pit, pool and dog park. The first residents began moving in during the winter of 2023. The community is 45 percent leased. Thompson Thrift expects construction to conclude this fall.

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CaliforniaFinanceNewsWestern

JLL Capital Markets Arranges $2.5 Million Refinancing for The Madison Apartments in San Diego

by Channing Hamilton

SAN DIEGO — JLL Capital Markets has arranged a $2.5 million refinancing for The Madison Apartments, a 12-unit community in the East County neighborhood of San Diego. JLL placed the three-year, fixed-rate loan with a regional bank. The borrower was Pace Properties. Chris Collins and Emily Pohlman led the JLL Capital Markets Debt Advisory team. The Madison Apartments is situated at 5074-5084 Madison Ave. The community consists of eight two-bedroom apartments and four accessory dwelling units that are studios with loft space. All units feature recently renovated kitchens, bathrooms and …

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