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160 Vroom Street in Jersey City, New Jersey
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $8.2 Million Sale of 41-Unit Property in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — CBRE has negotiated the $8.2 million sale of a property located at 160 Vroom Street in the Journal Square neighborhood of Jersey City. A private investment group acquired the 41-unit asset from a New York City-based family office. Fahri Ozturk, Richard Gatto and Zach McHale of CBRE Tri-State Capital Markets marketed the property and represented the seller in the negotiations. CBRE also procured the buyer. The property offers 22 one-bedroom units and 19 two-bedroom units, as well as on-site laundry facilities for residents.

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FinanceKentuckyNewsSoutheast

Lument Provides $78.8 Million Refinance for The Hub in Bowling Green, Kentucky

by Channing Hamilton

BOWLING GREEN, KY. — Lument has provided a $78.8 million loan through HUD’s 223(f) program for The Hub, a 590-unit community in the southern Kentucky city of Bowling Green. Ryan Duling of the company’s Columbus, Ohio office originated the financing, which was underwritten with a low fixed interest rate and a 25-basis-point mortgage insurance premium. The borrower was not disclosed. The Hub was built in 2020. The property offers 42 buildings surrounding a central park. Amenities include pickleball courts, a splash pad, pet park and resort-style pools with multiple pavilions and …

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Waterstone Place in Stafford, Texas
Investment SalesNewsTexas

Newmark Negotiates Sale of Three-Property Portfolio in Houston and Austin Metro Areas

by Channing Hamilton

AUSTIN, KATY AND STAFFORD, TEXAS — Newmark has brokered the sale of the Long Star 3-pack, a three-property portfolio that totals 673 units across the Houston and Austin metropolitan areas. Nitya Capital sold the portfolio to Disrupt Equity for an undisclosed price. Zach Springer, Jim Young and Carter Mizell represented the seller in the transaction. The portfolio comprises Treehouse, Stonecreek and Waterstone Place. Treehouse, located at 2501 Wickersham Lane in Austin, encompasses 297 units on a 12.5-acre site. Stonecreek is located at 20000 Saums Road in Katy and offers 208 units with …

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The Brainard Apartments in Detroit
Leasing & MarketingMichiganMidwestNews

Friedman Communities Awarded Management of 1,500-Unit Portfolio in Detroit

by Channing Hamilton

DETROIT — Friedman Communities, a Friedman Real Estate company, has taken over managing services for a portfolio of more than 1,500 units within the city of Detroit, including several historic buildings. The portfolio is focused on neighborhoods such as Midtown, Southwest Detroit and the East Jefferson corridor. Friedman Communities plans to renovate units within the historic buildings with stainless steel appliances, quartz countertops, new cabinetry and tiled showers.

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The Audrey in Mansfield, Texas
Investment SalesNewsTexas

Institutional Property Advisors Brokers Sale of 211-Unit The Audrey Near Dallas

by Channing Hamilton

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey in the Dallas suburb of Mansfield. Carleton Cos. and M.R. Development sold the property to RPM and a fund managed by Roseview Investment Advisors for an undisclosed price. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope represented the sellers and procured the buyers. The Audrey is a garden-style community that was built in 2021. The property offers 211 units across three stories. Units feature nine-foot …

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Edge Lofts in Hoboken, New Jersey
FinanceInvestment SalesNew JerseyNewsNortheast

JLL Capital Markets Arranges $27 Million in Financing for Edge Lofts in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — JLL Capital Markets has brokered the sale of and negotiated $27 million in financing for Edge Lofts in the New York City suburb of Hoboken. Edge Lofts comprises 69 units across two buildings located at 1405 Clinton and 1405 Adams St. The buildings each rise five stories, and were constructed in 2013 and 2019, respectively. Units come in one-, two- and three-bedroom floor plans. Amenities include a package room, resident lounge with a bar and TV, fitness center and a common terrace with grilling stations. JLL Capital Markets …

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Farm Haus in San Antonio
Build-to-RentFinanceNewsTexas

JLL Capital Markets Arranges Refinance for 142-Unit Build-to-Rent Community in San Antonio

by Channing Hamilton

SAN ANTONIO — JLL Capital Markets has arranged the refinancing for Farm Haus, a 142-unit built-to-rent community in San Antonio. AHV Communities was the borrower. Matthew Putterman and John David Johnson led the JLL Capital Markets Debt Advisory team, which worked on behalf of the borrower to secure the four-year, fixed-rate loan through a life insurance company. Completed in 2022, Farm Haus offers units in two-, three and four-bedroom layouts. Units feature private yards, attached garages, smart home technology, stainless steel appliances and quartz countertops. Amenities include a lounge, community …

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Residences at Durango in Durango, Colorado
Affordable HousingColoradoDevelopmentNewsWestern

TWG to Convert Hotel in Durango, Colorado, Into $35 Million Affordable Housing Community

by Channing Hamilton

DURANGO, COLO. — TWG will construct Residences at Durango, a $35 million affordable housing complex in the southwestern Colorado city of Durango. The project is an adaptive reuse of a former hotel, which is now set to be converted into 120 apartments. Units will come in studio, one- and two-bedroom floor plans, and will be affordable to tenants earning at or below 30 to 60 percent of the area median income. Amenities will include a business center, exercise facility, laundry facility, playground, picnic area and Wi-Fi connectivity in common areas. …

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Investment SalesNewsTexas

Cooper Street Capital Purchases 174-Unit South Hill Apartments in San Antonio

by Channing Hamilton

SAN ANTONIO — Cooper Street Capital has acquired South Hill Apartments, a 174-unit complex in southeast San Antonio. Zar Haro, Moses Siller, Bryan VanCura, Brian Booth and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. South Hill Apartments was built in 1965 and offers one-, two- and three-bedroom units. Amenities include three pools, tennis courts, a playground and a business center.

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DevelopmentLeasing & MarketingNewsTexas

Urban Moment Begins Pre-Leasing YardHomes Juniper Pointe in San Antonio

by Channing Hamilton

SAN ANTONIO — Urban Moment, an Austin-based developer, has begun pre-leasing YardHomes Juniper Pointe, a 248-unit community in San Antonio. Units will come in one-, two- and three-bedroom floor plans, with each unit having 250 square feet of private outdoor space. Amenities include a pool, fitness center, outdoor grilling and dining stations, an outdoor event lawn and green spaces. The first move-ins at the property are scheduled to begin after a grand opening ceremony in November.

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