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ECO MESA in Mesa, Arizona
ArizonaDevelopmentNewsWestern

Habitat Metro Opens 102-Unit ECO MESA in Phoenix Suburb

by Channing Hamilton

MESA, ARIZ. — Habitat Metro has opened ECO MESA, a 102-unit community in the southeastern Phoenix suburb of Mesa. Located at 127 W. Pepper Place in Mesa’s downtown area, ECO MESA comprises 179,227 square feet across seven stories. Units come in studio, one- and two-bedroom layouts. Amenities include a 14,000-gallon heated pool, lounge with a kitchen, game room and a water-vapor fireplace. Willmeng Construction served as general contractor for the project, which was developed on a former parking lot. CCBG Architects designed the community.

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BerkadiaCaliforniaFinanceNewsWestern

Berkadia Arranges $67.2 Million to Refinance Northpoint Apartments in San Francisco

by Channing Hamilton

SAN FRANCISCO — Berkadia has negotiated a $67.2 million loan to refinance debt on Northpoint Apartments, a 514-unit complex in San Francisco. Andy Ahlers of Berkardia’s San Francisco office secured the permanent five-year loan through Fannie Mae. The borrower was NP Apartments LLC. Located at 2211 Stockton St., Northpoint Apartments offers units in studio, one- and two-bedroom floor plans. Amenities include two pools, a fitness center and laundry facilities.

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FloridaInvestment SalesNewsPeople NewsSoutheast

JLL Capital Markets Adds Nick Lavin to South Florida Multifamily Investment Sales Team in Miami

by Channing Hamilton

MIAMI — JLL Capital Markets has added Nick Lavin to its South Florida multifamily investment sales team as a Director in the Miami office. In his new role, Lavin will focus on growing the firm’s multi-housing investment sales platform throughout the South Florida region. He will work alongside the current South Florida multi-housing and land investment sales team, which includes Matthew Lawton, Maurice Habif and Simon Banke. Prior to his time in the Los Angeles office, Lavin also spent almost three years in Chicago with HFF. He earned his degree as a double major …

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New JerseyNewsNortheastOperationsPeople News

Woodmont Properties Selects Lewis Zlotnick as Executive Vice President, Daniel Miller as Chief Operating Officer

by Channing Hamilton

FAIRFIELD, N.J. — Lewis Zlotnick of Woodmont Properties will transition into the position of Executive Vice President of the company’s Florida division. Zlotnick will oversee Woodmont’s strategic expansion throughout Florida, where Woodmont has invested in about 4 million square feet of industrial development. He will continue to serve on the company’s Executive Leadership Committee, the Investment Committee and the independent Board of Advisors. Additionally, Woodmont Properties has promoted Daniel Miller to the role of Chief Operating Officer, where he will assume the responsibilities of Zlotnick. Miller will oversee Woodmont’s strategy, …

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Affordable HousingDevelopmentIllinoisMidwestNews

NHP Foundation Opens 30-Unit Affordable Housing Redevelopment Project in Chicago

by Channing Hamilton

CHICAGO — The NHP Foundation (NHPF) has opened Covent Apartments, the redevelopment of the former Covent Hotel in Chicago’s Lincoln Park neighborhood. The 30-unit affordable housing property is now a single-room occupancy (SRO) property. SRO housing is defined as a residential property that includes multiple single-room units, according to HUD. The total cost of development for the project was $21.6 million, including $7.9 million in federal Low-Income Housing Tax Credits and historic tax credits, $5 million of City Home and Affordable Housing Opportunity Funds, $3.1 million in Illinois Housing Development …

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Tropicana Apartments in Huntington Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $7.1 Million Sale of Tropicana Apartments in Huntington Beach, California

by Channing Hamilton

HUNTINGTON BEACH, CALIF. — CBRE has arranged the sale of Tropicana Apartments, a 21-unit community in Huntington Beach. CBRE’s Dan Blackwell and Mike O’Neill represented the seller, a locally-based private investor, exchanging into a Delaware Statutory Trust (DST). The buyer was also based in Huntington Beach. The asset traded hands for $7.1 million. Tropicana Apartments is located on a corner block one block from the beach at 201 10th Street. The property comprises 10,096 rentable square feet across four buildings, each of which rise two stories. The gated community was built …

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DevelopmentNewsTexas

Trademark Property Co. Acquires 37 Acres Near Houston for Mixed-Use Development

by Channing Hamilton

CYPRESS, TEXAS — Trademark Property Co. has purchased 37 acres in the northwestern Houston suburb of Cypress to develop a mixed-use project. The site is located within the 1,300-acre Dunham Pointe master-planned development. Preliminary plans for the development call for 500 apartments, as well as 225,000 square feet of retail, restaurant and entertainment space. Trademark Property Co. plans to start construction in the second quarter of 2025 and open the development in late 2026 or early 2027.

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Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $7.5 Million Sale of The Commons in Inver Grove Heights, Minnesota

by Channing Hamilton

INVER GROVE HEIGHTS, MINN. — Marcus & Millichap has negotiated the $7.5 million sale of The Commons, a four-building property in the St.Paul, Minnesota suburb of Inver Grove Heights. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed buyer and seller. The Commons was built in 1987 at 8213 College Trail. The community comprises 60 units. The property has undergone renovations for new countertops, appliances and cabinetry..

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Westchase Apartments in Houston
Investment SalesNewsTexas

ECI Group Sells The Columns at Westchase Apartments in Houston to Mosaic Residential

by Channing Hamilton

HOUSTON — ECI group (ECI) has sold The Columns at Westchase, a 318-unit community in Houston, to Mosaic Residential for an undisclosed price. The Columns at Westchase was built in 1999 and acquired by ECI in 2018. Since 2018, ECI has renovated the community with updates to unit interiors, the clubhouse, leasing office, pool, fitness center, and BBQ pavilion as well as unit exteriors, roofs and landscaping. David Mitchell at Newmark represented the seller in the deal.

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University Village in Fort Worth, Texas
Investment SalesNewsTexas

Greysteel Arranges Sale of 16-Unit University Village in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Greysteel has arranged the sale of University Village, a 16-unit property in Fort Worth. The community is located less than a block from Texas Christian University, and is in proximity to Kroger Fresh Fare, two national banks, multiple coffee shops, a dozen fast casual restaurants and a 7-Eleven. Andrew Mueller of Greysteel’s national multifamily team negotiated the sale on behalf of the undisclosed buyer and seller.

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