VIRGINIA BEACH, VA. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has arranged the sale of Live Oaks Village, a 32-unit asset in Virginia Beach. Live Oaks Village offers three-bedroom, townhome-style apartments. Lasgo Inc. purchased the property from BBD Holdings LLC for $12.2 million. Doug Aronson and Nathan Shor of SLN Capital Markets negotiated the deal. The seller was finishing up renovations to the property at the time of the sale, according to SLN Capital Markets.
OPELIKA, ALA. — Arey Group has begun pre-leasing at The Taylor, a 198-unit community in the historic downtown area of Opelika. Located at 411 South 10th Street, The Taylor will offer one-, two- and three-bedroom layouts. Apartments feature stainless steel appliances and quartz countertops. Monthly rents begin at $1,250. Amenities include an entertainment area and fitness center. The community is slated to open in Q3 2024. The Taylor was designed by Geheber Lewis Associates. Focus Design Interiors provided interior design services.
MADISON AND MILWAUKEE, WIS. — A court-appointed receiver has retained Affordable Housing Investment Brokerage (AHIB) to secure new ownership for portions of Heartland Housing’s Wisconsin portfolio. Heartland Housing was an affordable housing developer and a subsidiary of Heartland Alliance. The non-profit developer went out of business in 2023. The portfolio comprises 166 affordable housing units across five properties in Madison and Milwaukee. Cinnaire Solutions acquired the two properties in Madison, Rethke Terrace and Tree Lane Apartments. Rethke Terrace was built in 2016 and comprises 60 units. Tree Lane Apartments is …
HAVERHILL, MASS. — KeyBank has provided a $24 million Freddie Mac agency loan for the refinancing of Pine Brook Place, a 240-unit complex located in the northern Boston suburb of Haverhill. Dirk Falardeau and Matt Purtell of KeyBank originated the financing on behalf of the borrower, locally based developer The Dolben Co. Pine Brook Place was built on nine acres in 1974. The property offers studio, one- and two-bedroom apartments across 10 buildings. Community amenities include a pool, courtyard and onsite laundry facilities.
SOUTH OGDEN, UTAH — TruAmerica Multifamily has acquired The Falls at Canyon Rim, a 288-unit community in South Ogden, 25 miles north of Salt Lake City. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the deal. The Falls at Canyon Rim is situated on a 14.5-acre site. The community offers one-, two- and three-bedroom floor plans. Units average about 1,200 square feet. Amenities include a pool and hot tub, fitness center, BBQ grills, two playgrounds, basketball and tennis courts, a recreation room and dog …
KATY, TEXAS — JLL Capital Markets has completed the sale of Banyan Kingsland Heights, a 97-unit build-to-rent development in the Houston suburb of Katy. Matthew Putterman, Jim Humphries, Daniele Colbertaldo and Rhett Robins led the JLL Capital Markets Investment Sales and Advisory team representing the seller, Banyan Residential, in the deal. The buyer was not disclosed. Banyan Kingsland Heights was completed in 2021. The project offers single family homes in three- or four-bedroom layouts across 27 acres. Homes average 1,876 square feet in size and feature two-car garages, privacy fencing, …
BROOKFIELD, WIS. — McShane Construction Co. will serve as the general contractor for Bishops Woods, a 203-unit affordable housing community in the western Milwaukee suburb of Brookfield. The development is situated on nearly four acres at 350 Bishops Way. Plans call for a four-story, podium-style building atop a two-story, underground parking garage. Knothe & Bruce Architects is the project architect. Bishops Woods will offer one-, two- and three-bedroom floor plans. Amenities will include a clubroom, fitness center, outdoor grill area and playground. The community will be available to households earning …
AURORA, ILL. — MLG Capital has acquired Orchard Village, a 272-unit community situated in the western Chicago suburb of Aurora. MLG acquired an interest in the property using 1031 exchange proceeds from its Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. The sale price was not disclosed. Orchard Village was built in 2000 and is located at 1240 W. Indian Trail. The community offers amenities such as a pool, dog park, clubhouse and fitness center.
BOSTON — MassDevelopment has provided $21.8 million in tax-exempt bond financing for a 63-unit affordable housing project current underway in Boston’s Hyde Park neighborhood. The borrower and developer is an affiliate of B’nai B’rith Housing. Eastern Bank purchased the bond. The Massachusetts Executive Office of Housing & Livable Communities provided $16.1 million in tax credit equity for the project. The development will offer one-bedroom apartments for households earning 30, 50 or 60 percent or less of the area median income.
NORTH KINGSTOWN, R.I. — CBRE has negotiated the sale of Mill Creek Townhomes, a 140-unit complex located in North Kingstown, 24 miles south of Providence. The property was built in 1968 a 47-acre site then expanded in 2006. The community offers two-, three- and four-bedroom units with an average size of 1,126 square feet. Landings Real Estate Group, a private investment group based in Newport, Rhode Island, acquired Mill Creek Townhomes from an affiliate of Massachusetts-based investment firm The Grossman Cos. CBRE’s Simon Butler, Biria St. John, John McLaughlin and …
