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Cambridge Court Apartments in West Des Moines, Iowa
Investment SalesIowaMidwestNews

ARTISAN Capital Group, Eastham Capital Acquire 192-Unit Cambridge Court Apartments in West Des Moines, Iowa

by Channing Hamilton

WEST DES MOINES, IOWA — A partnership consisting of ARTISAN Capital Group (ACG) and Eastham Capital have acquired Cambridge Court Apartments, a 192-unit property in West Des Moines. Cambridge Court Apartments was built in 1992 and offers one, two and three-bedroom units. Amenities include a clubhouse, fitness center, dog park, garages and indoor/outdoor pools. The buyers plan to renovate the complex. Exact plans for the renovation, however, were not disclosed. ARTISAN Management Group, ACG’s management vertical, will oversee operations at the property.

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DevelopmentGeorgiaNewsSoutheast

ECI Group, Griffin Fund Begin Constructing $76 Million The Averly Collins Hill Near Atlanta

by Channing Hamilton

LAWRENCEVILLE, GA. — A joint venture consisting of ECI Group and The Griffin Fund have broken ground on The Averly Collins Hill, a $76 million development in the northeast Atlanta suburb of Lawrenceville. The project comprises 300 units across eight buildings on a 22-acre site. Units will come in one-, two- and three-bedroom layouts. Amenities include a clubhouse, fitness center, lounge areas, coworking space, pool, dog play area and coffee bar. ECI Construction is the general contractor for the project. Synovus Bank provided $46 million in construction financing.

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CaliforniaDevelopmentNewsWestern

JPI Breaks Ground on Jefferson Inglewood in Los Angeles Suburb

by Channing Hamilton

INGLEWOOD, CALIF. — JPI has broken ground on Jefferson Inglewood, a 222-unit development in the Los Angeles suburb of Inglewood. The community will rise eight stories and offer studio, one- and two-bedroom floor plans. The project utilizes the City of Inglewood’s Transit Oriented Development plan and design guidelines. TCA Architects was the architect. Englekirk Engineering provided structural engineering services. Kimley Horn Associates Engineering provided civil engineering. First occupancies at the property are slated for early 2026.

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FinanceInvestment SalesNewsTexas

BridgeCore Provides Acquisition Loan for 60-Unit Property in Brownsville, Texas

by Channing Hamilton

BROWNSVILLE, TEXAS — BridgeCore has provided an acquisition loan for an unnamed, 60-unit property in the South Texas city of Brownsville. The amount of the financing was not disclosed. However, the loan carries a two-year term with a six-month extension option and a 67 percent loan-to-value ratio. The undisclosed borrower, which acquired the property via a 1031 exchange, will use a portion of the proceeds to fund capital improvements.

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Metro Parc South in Hialeah, Florida
DevelopmentFloridaInvestment SalesNewsSoutheast

MG Developer Secures $16 Million to Acquire Metro Parc South Near Miami

by Channing Hamilton

HIALEAH, FLA. — MG Developer has secured a $16 million acquisition loan for a land parcel in the Miami suburb of Hialeah. The land will be used to build a 347-unit community called “Metro Parc South” on the site. Metro Parc South will offer studios, one- and two-bedroom units. MG Developer expects to break ground on the development in the third quarter of 2024, with delivery slated for the third quarter of 2026. The project will complement Metro Parc, a 559-unit mixed-use community located at 955 East 25th Street and …

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ArkansasDevelopmentNewsSoutheast

ERC, Tradewind to Develop 272-Unit The Ramsay in Springdale, Arkansas

by Channing Hamilton

SPRINGDALE, ARK. — ERC Holdings and Houston-based Tradewind Properties will develop The Ramsay, a 272-unit project located at Elm Springs Road and N. 48th Street in Springdale. The property will comprise 18 three-story buildings. The unit mix includes 143 one-bedroom and 129 two-bedroom apartments. Planned amenities include a café and lounge, 1,900-square-foot wellness center, pocket park, meditation room, dog park and a clubhouse. Pick-It Construction is the general contractor, and the architect is Rob Sharp. The first units are slated to deliver in the fall of this year.

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FinanceNewsTexas

Lument Provides $11.3 Million Loan to Refinance Easton Parc Apartments in Sherman, Texas

by Channing Hamilton

SHERMAN, TEXAS — Lument has provided an $11.3 million Freddie Mac loan for the refinancing of Easton Parc Apartments, a 232-unit community in Sherman, 64 miles north of Dallas. Sloan Stevens of Lument originated the 10-year loan. The financing is structured with five years of interest-only payments and a 30-year amortization schedule. The borrower was not disclosed. Easton Parc Apartments was built in 1986 and renovated in 2013. The property comprises 22 buildings on an approximately nine-acre site. Amenities include a pool, clubhouse, dog park and laundry facilities. 

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Longfellow Terrace in Washington, D.C.
Investment SalesNewsNortheastWashington, D.C.

Greysteel Arranges Sale of 41-Unit Longfellow Terrace in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Greysteel has arranged the sale of Longfellow Terrace, a 41-unit property in the Washington, D.C. neighborhood of North Petworth. Michael Murray, Kyle Tangney, Herb Schwat and Nigel Crayton of Greysteel’s Washington office represented the seller, Longfellow Terrace LLC, in the deal. The buyer was not disclosed. Longfellow Terrace is encircled by The Parks at Walter Reed, a mixed-use development that will feature 130,000 square feet of retail space, 325,000 square feet of office space and a new hotel and conference center. 

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DevelopmentNew YorkNewsNortheast

The Moinian Group Begins Vertical Construction of 7 Platt Street in Manhattan’s Financial District

by Channing Hamilton

NEW YORK CITY — The Moinian Group has commenced vertical construction at 7 Platt Street, a 250-unit residential tower in Manhattan’s Financial District. The community will comprise 170,000 square feet across 35 stories. Apartments will come in studio, one- and two-bedroom floor plans. Planned amenities include a fitness center, library, co-working pods, lounge spaces, private dining spaces with outdoor terrace access, a gaming area, rooftop deck, golf putting area, laundry facilities and a communal entertainment kitchen. Rockwell Group designed the project. Hill West Architects is leading architecture efforts for the …

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ConnecticutDevelopmentInvestment SalesNewsNortheast

Cushman & Wakefield Brokers $12 Million Sale of Development Site in Norwalk, Connecticut

by Channing Hamilton

NORWALK, CONN. — Cushman & Wakefield has brokered the $12 million sale of a 2.3-acre development site located at 370 West Ave. in downtown Norwalk, a southern coastal city of Connecticut. RMS Cos. purchased the site from Norwalk Hospital. The property formerly housed a YMCA. Al Mirin, Kate Schwartz, Matthew Torrance, Jim Fagan, Gerry Lees and Maureen O’Boyle of Cushman & Wakefield represented the seller in the deal. The buyer plans to develop a six-story, 204-unit building on the site.

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