News

Solamar Apartment Homes in Kissimmee, Florida

KISSIMMEE, FLA. — JLL Capital Markets has negotiated $43 million in construction takeout bridge financing for Solamar Apartment Homes, a 210-unit build-to-rent community in the Orlando suburb of Kissimmee. Solamar Apartment Homes was developed in phases and completed in 2023. The community offers townhome-style units. JLL worked on behalf of the borrower, TRUSOT Developments, to secure the financing. Max La Cava, Melissa Quinn, Kenny Cutler, Josh Odessky and Pier Barinci led the JLL Capital Markets Debt Advisory team.

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NASHVILLE, TENN. — Naftali Credit Partners and J.P. Morgan have provided $120 million in financing for 1111 Church Street, a recently developed mixed-use project in the North Gulch neighborhood Nashville. The borrower was Tidal Real Estate Partners. The five-year financing comprises a senior loan from J.P. Morgan and a mezzanine loan from Naftali Credit. The funds will be used to refinance an existing construction loan and provide bridge financing to a sale or permanent financing. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Diaz and Michael Ianno of Walker …

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NEW BRUNSWICK, N.J. — The Community Builders has broken ground on Stirlingside Residences, a 53-unit affordable housing project in New Brunswick. The property will offer 13 three-bedroom, 30 two-bedroom and 10 one-bedroom apartments. Of the total unit count, 47 will be reserved for households earning 60 percent or less of the area median income. Six units will be set aside for families and individuals who previously experienced homelessness. Amenities will include a community room, fitness room and onsite laundry facilities. The project is slated to deliver in mid-2025.

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Provenza at Old Peachtree in Suwanee, Georgia

SUWANEE, GA. — RangeWater Real Estate and Nippon Steel Kowa Real Estate have acquired Provenza at Old Peachtree, a garden-style community located at 1460 Distribution Drive in the Atlanta suburb of Suwanee. The asset will be rebranded as Echo Ridge Suwanee. The property offers amenities such as a pool, outdoor patio with a fireplace, fitness center, clubroom, catering kitchen, car care center, business center with a private meeting space and a community pond with walking trails. The new owners are planning to add a dog park and a pet spa …

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NEW YORK CITY — Marcus & Millichap has negotiated the sale of a 76-unit property at 34-50 28th Street in the Astoria neighborhood of Queens. The asset traded hands for $13.2 million. Louis Zarif, Shaun Riney and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer in the deal. Both parties were private investors that requested anonymity. The property was originally built in 1930 and rises six stories, according to StreetEasy.com. Units come in studio, one- and two-bedroom floor plans.

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LONGVIEW, TEXAS — The Multifamily Group has arranged the sale of Courtyard Apartments, a 63-unit community in Longview, 120 miles east of Dallas. Yonnic Land of The Multifamily Group represented the seller and procured the buyer in the deal. Both parties requested anonymity. Courtyard Apartments was built in 1966. The community offers one- and two-bedroom floor plans with an average size of 778 square feet.

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GILBERT, ARIZ. — Berkadia has negotiated the sale of and financing for Cambria, a garden-style community located in the Phoenix suburb of Gilbert. Cambria comprises 174 units that average 1,022 square feet in size. The property offers direct-access attached garages, nine-foot ceilings and side-by-side washers and dryers. Bridge Investment Group Holdings sold the asset to a California-based private investor for an undisclosed price. Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the deal. Vincent Punzi and Lowell Takahashi of Berkadia’s Irvine, California …

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POUGHKEEPSIE, N.Y. — A developer doing business as Built Parcel Six LLC is approaching completion of 44 Springside, a 28-unit property in Poughkeepsie, about 80 miles north of Manhattan. The building rises five stories in the Arlington neighborhood of the city. Amenities include an indoor pool, community room, fitness center, rooftop terrace and flexible space for social events or work functions. The property will also feature approximately 7,000 square feet of commercial space. Tinkelman Architecture designed the community, which is slated to deliver this summer.

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The Vineyard in Ceres, California

CERES, CALIF. — Marcus & Millichap has negotiated the sale of The Vineyard, a 212-unit community in the Modesto, California suburb of Ceres. The property traded hands for $32.6 million. Jon Mimms of Marcus & Millichap’s Fresno office represented both the undisclosed seller and undisclosed buyer in the deal. The Vineyard was built in 1979. Apartments at the community average 671 square feet in size and feature open floor plans, large kitchen pantries and central heating and air conditioning. Community amenities include two pools, five laundry rooms, covered parking, pathways and …

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OAK PARK, MICH. — Friedman Communities, the management division of Friedman Real Estate, has been selected to manage The Loop on Greenfield in Oak Park, about 14 miles north of Detroit. The property was built in 1965 and features 717 units. Apartments come in studio, one- and two-bedroom layouts. Amenities include a fitness center, playground, pool and courtyard.

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