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Lantower-Sunrise-Kissimmee
Company NewsNewsOperationsSouth CarolinaSoutheast

Greystar Takes Over 7,895-Unit Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Lantower Residential, a Dallas-based operator and subsidiary of H&R REIT, is exiting the property management business. Greystar will take over management of Lantower’s approximately 7,895 units. The phased transition began Feb. 17. Greystar will assume management responsibilities for 23 multifamily communities, including two properties under development. As part of the transition, many of Lantower’s onsite and property leadership teams will join Greystar. H&R REIT is based in Toronto with a U.S. and Canadian portfolio comprised of residential, industrial and office properties totaling approximately 21.2 million square feet.

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259-East-Broadway-New-York
Investment SalesNew YorkNewsNortheast

Lower East Side Mixed-Use Building Trades for $7.8M

by Lynn Peisner

NEW YORK CITY — R.A. Cohen has sold a 16-unit mixed-use building at 259 East Broadway in Manhattan’s Lower East Side for approximately $7.8 million. Marcus & Millichap’s Joe Koicim, Logan Markley and Matt Berger represented the seller and procured the buyer, an unnamed private out-of-state investor. The 12,076-square-foot building includes ground-floor retail leased to Ernesto’s, a Basque restaurant, through April 2028. The two-bedroom apartments are a mix of free-market and rent-stabilized units. The building was developed in 1900.

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Lineage-Dacula
DevelopmentGeorgiaNewsSoutheast

Thompson Thrift to Develop 300-Unit Lineage in Atlanta Suburb

by Lynn Peisner

DACULA, GA. — Thompson Thrift has unveiled plans for Lineage, a 300-unit community situated on 15 acres about 30 miles northeast of Atlanta. Lineage marks the Terre Haute, Indiana-based developer’s 100th multifamily project. Completion is slated for April 2028. PNC Bank is the construction lender. Amenities complementing the one-, two- and three-bedroom units include a dedicated event space available for private rental, a golf simulator, fitness center, resort-style heated pool, a pickleball court, coworking and conference spaces, a pet spa and dog park.

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Sutton-Flats-Sherman
Affordable HousingDevelopmentLeasing & MarketingNewsOperationsTexas

The NRP Group Opens 300-Unit Mixed-Income Property North of Dallas

by Lynn Peisner

SHERMAN, TEXAS — The NRP Group and Texahoma Housing Partners have opened and begun leasing Sutton Flats, a 300-unit mixed-income community in Sherman, 65 miles northeast of Dallas. Half of the units are reserved for households earning no more than 80 percent of area median income. Monthly asking rents across the community range from $1,132 to 1,540. Amenities include a fitness center, coworking spaces with conference rooms, a game room, clubhouse and lounge, resort-style pool and a dog park. Sutton Flats residents also may rent garage parking spaces. The NRP …

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Adam-Smolyar-American-Landmark-Apartments
Company NewsFloridaNewsPeople NewsSoutheast

American Landmark Apartments Hires Adam Smolyar as CTO

by Lynn Peisner

TAMPA, FLA. — Tampa-based owner-operator American Landmark Apartments has hired Adam Smolyar as chief technology officer. In his role, Smolyar will oversee core systems, data architecture, cybersecurity, data analytics and resident-facing platforms. He is responsible for ensuring the firm’s platforms are scalable and reliable and will partner with American Landmark’s executive leadership team to streamline technology solutions and financial systems. In Smolyar’s recent experience, he served as director of innovation initiatives and tech investments at UDR. Prior to that, he was chief marketing and technology officer at the Urban Land …

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DevelopmentNewsTexas

Trammell Crow, Haseko Plan Allora Fallbrook in Houston

by Lynn Peisner

HOUSTON — A joint venture comprised of Trammell Crow Residential and Haseko North America will develop Allora Fallbrook in Northwest Houston. Completion of the 366-unit community is slated for 2027. The four-story property will feature a mix of one- and two-bedroom floor plans highlighted by such amenities as a resort-style pool, a fitness center, clubhouse and outdoor gathering spaces. Haseko North America, based in Irvine, California, is the subsidiary of Haseko Corp., a Japanese residential construction firm.

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West-Virginia-Park
Affordable HousingDevelopmentNewsTexas

FTK Completes $13.6M Rehab of Dallas Affordable Housing Property

by Lynn Peisner

DALLAS — FTK Construction Services has completed the $13.6 million renovation of West Virginia Park, a 204-unit LIHTC property in Dallas. The property owner is April Housing, a subsidiary of Blackstone Real Estate. Renovations at the 204-unit community included new paint, cabinetry, countertops, plumbing, appliances, flooring, lighting, HVAC and water heaters. Common areas were freshly painted, and landscaping and amenity updates also were provided.

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443-East-88th-Street-New-York
Investment SalesNew YorkNewsNortheast

Jade Century Properties Buys 25-Unit Building for $16.5M

by Lynn Peisner

NEW YORK CITY — Marcus & Millichap has arranged the sale of a 25-unit property at 443 East 88th St. in the Yorkville neighborhood of Manhattan, located on the Upper East Side. The property sold to Jade Century Properties for $16.5 million. Joe Koicim and Logan Markley of the NYM Group of Marcus & Millichap’s New York City office represented the undisclosed seller and procured the buyer.

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The-Winthrop-Place-Chicago
IllinoisInvestment SalesMidwestNews

Becovic Residential Buys The Winthorp Place in Chicago for $5.5M

by Lynn Peisner

CHICAGO — Becovic Residential, a Chicago-based owner and operator, has purchased The Winthorp Place in Chicago’s lakefront neighborhood of Edgewater for $5.5 million. Green Bay, Wisconsin-based Associated Bank provided a $4.7 million loan to Becovic for the acquisition. Located at 5710 North Winthorp Ave., the community was built in 1929 and features 42 units offered as studio and one-bedroom floor plans. Elizabeth Hozian with Associated Bank’s commercial real estate division arranged the loan, and Essex Realty Group arranged the sale. The building will be managed by Becovic Management Group.

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jessica-heckman-Larken
Company NewsNew JerseyNewsNortheastPeople News

Larken Associates Promotes Jessica Heckman to Executive Vice President of Multifamily Operations

by Lynn Peisner

BRANCHBURG, N.J. — Larken Associates has appointed Jessica Heckman to the role of executive vice president of multifamily operations. In her new role, Heckman will oversee asset management, property management and leasing strategy and execution across the firm’s residential portfolio. Heckman first joined the company in 2008 and most recently served as director of residential asset management. Other titles held during her tenure include construction assistant, property manager and senior property manager. Branchburg-based Larken Associates owns a commercial portfolio that consists of office, industrial, retail, mixed-use and approximately 3,000 apartment …

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