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AVARA-Miami
DevelopmentFloridaNewsOperationsSoutheast

Mast Capital, Rockpoint Complete AVARA Miami Beach

by Lynn Peisner

MIAMI BEACH — Mast Capital and Rockpoint have opened AVARA, a 178-unit community at 3900 Alton Road in Miami Beach. Monthly asking rents at the eight-story development begin at $3,200 for a junior one-bedroom unit. Floor plans also are offered as two- and three-bedroom configurations as well as penthouses. Arquitectonica was the architect, interior design was provided by CID Design Group, and Within Hults + Partners was the landscape architect. Amenities include a second-floor pool deck overlooking Biscayne Bay that also features an outdoor kitchen with grilling stations. Inside, residents …

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DECO-Apartments-Minneapolis
Investment SalesMidwestMinnesotaNews

DECO Apartments Changes Hands in Minneapolis Metro City of Shakopee

by Lynn Peisner

SHAKOPEE MINN. — Enclave, a development firm based in West Fargo, North Dakota, has sold DECO Apartments, an 89-unit community at 129 Holmes St. S. in Shakopee, 25 miles southwest of Minneapolis. LouMin Holdings, a locally based multifamily investment firm, was the buyer. A JLL team led by Joseph Peris and Josh Talberg arranged the sale. Built in 2021, DECO features a rooftop deck with grilling stations, a fitness center, a clubroom, underground parking and ground-floor retail occupied by Mana Brewing. The sales price was not disclosed

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Paseo-Austin
DevelopmentNewsOperationsTexas

LV Collective Opens Paseo in Austin

by Lynn Peisner

AUSTIN, TEXAS — Austin-based developer LV Collective, formerly known as Lincoln Ventures, has completed and opened Paseo, a 48-story tower at 80 Rainey St. in downtown Austin. Paseo offers 498 units in studio, one-, two- and three-bedroom floor plans, as well as four penthouses and a pool, deck and bar on the 12th floor with views of Lady Bird Lake. ROOST Rainey, a 59-room hotel, is located on floors 14 through 17. Residents also have access to Daydreamer, a ground-level café and bar, Amaya, a Mediterranean-inspired restaurant, a fitness center …

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1860-1900-N.-Parkside-Drive-Chicago
IllinoisInvestment SalesMidwestNews

Interra Arranges Two Chicago Trades Totaling $4.7 Million

by Lynn Peisner

CHICAGO — Interra Realty has arranged the sale of two properties in northwest Chicago totaling $4.7 million. The two-building, 16-unit 1860-1900 N. Parkside Drive in Park Ridge sold for $2.75 million, and the 12-unit 8544-48 W. Gregory St. in Chicago’s O’Hare submarket transacted for $1.9 million. Interra’s Patrick Kennelly, Paul Waterloo and Nathan Zito represented both the undisclosed buyer and seller of 1860-1900 N. Parkside. Kennelly, Waterloo and Zito also represented the undisclosed partnership seller of 8544-48 W. Gregory, with Oleg Komarnytskyy of KOMAR Real Estate representing the private buyer. Both …

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Brian-Killinger-Gilbane
Company NewsMassachusettsNewsNortheastPeople NewsRhode Island

Gilbane Appoints Brian Killinger Head of Asset Management

by Lynn Peisner

PROVIDENCE, R.I. — Gilbane Development has hired Brian Killinger as head of asset management, a role that requires oversight and growth of a national portfolio of more than 8,000 multifamily units, 3,550 purpose-built student housing beds as well as other retail and office assets. Prior to joining Providence-based Gilbane, Killinger directed a regional portfolio of 200 multifamily properties consisting of approximately 70,000 apartments in the Eastern United States in his capacity as senior vice president, asset management, at LivCor, a Chicago-based subsidiary of The Blackstone Group. Killinger works out of …

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Lakeside-Houston
Investment SalesNewsTexas

Knightvest Capital Sells Lakeside in Houston

by Lynn Peisner

HOUSTON — Newmark has arranged the sale of Lakeside, a 296-unit community located at 9550 Meyer Forest Drive in Houston. Newmark’s David Mitchell represented the seller, Knightvest Capital, while Colin Cross secured financing on behalf of the buyer, Pegasus Real Estate. The sales price was not disclosed. Built in 2001, Lakeside is a mid-rise community featuring a mix of one-, two- and three-bedroom units averaging approximately 1,000 square feet. The property was 92 percent occupied at the time of sale. Recent upgrades at Lakeside include enhancements to the clubhouse, pool …

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Exchange-at-Indian-Trail-NC
FinanceFloridaLouisianaNewsNorth CarolinaSoutheast

Hathaway Secures $153.3 Million ReFi for Three Sun Belt Properties

by Lynn Peisner

ATLANTA — Walker & Dunlop has arranged $153.3 million in loans for Hathaway Development. The Atlanta-based owner/developer will use the proceeds to refinance three garden-style properties: Exchange at Juban in Denham Springs, Louisiana, Exchange at Blair Stone in Tallahassee, Florida, and Exchange at Indian Trail, in Indian Trail, North Carolina. Walker & Dunlop’s Stephen Farnsworth, Hanes Dunn and Robert Henry arranged the floating-rate loans through lender ACRES Capital. The three communities were developed by Hathaway and combined include 876 units. Exchange at Juban, a 264-unit property in Denham Springs was …

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CRG-Wildcreek-Apartments-Austin
Investment SalesNewsTexas

Continental Realty Group Acquires 232-Unit Community in Austin

by Lynn Peisner

AUSTIN, TEXAS — Continental Realty Group, a Denver-based owner and operator, has acquired the 232-unit Wildcreek Apartments in Austin. This marks Continental Realty Group’s first acquisition in the Austin market. Built in 1984, Wildcreek features one- and two-bedroom units and such amenities as a clubhouse and leasing center, two pools, a dog park and a basketball court. The new owner is planning to lightly upgrade unit interiors as well as the property’s exterior and common areas. JLL represented the seller, Bob Reeve. The sales price was not disclosed.

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The-West-West-Orange
Investment SalesNew JerseyNewsNortheast

JLL Arranges $41 Million Sale in West Orange, New Jersey

by Lynn Peisner

WEST ORANGE, N.J. — JLL has arranged the sale of and acquisition financing for The West, a 70-unit community in West Orange. JLL worked on behalf of the seller, a joint venture between Varma Real Estate and Garas Development, and also represented the buyer, a joint venture between Invel Capital and Pearlmark Real Estate. JLL secured a $27.5 million loan for the buyer through a life insurance company. The asset traded for a total of $40.8 million. Built in 2023, The West features one- to three-bedroom floor plans and amenities …

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CanopyFlats-Overland-Park
DevelopmentKansasMidwestMissouri

Thompson Thrift Breaks Ground on Canopy Flats in Overland Park

by Lynn Peisner

OVERLAND PARK, KAN. — Thompson Thrift has begun construction of Canopy Flats, a 303-unit property in Overland Park, located in the Kansas City metro area. Completion is slated for 2027. Canopy Flats is situated on a 13-acre site. Units will be comprised of one-, two- and three-bedroom floor plans. Amenities feature a fitness center with a sauna and cold plunge, a golf simulator, billiards, shuffleboard, a putting green, a heated pool, an outdoor movie wall, grilling stations, a dog park and spa and a conference room with screenshare and video …

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