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Company NewsNewsOperationsTexas

Aerwave Named 2025 Multifamily Partner of the Year

by Lynn Peisner

HOUSTON —Broadband Communities has awarded Aerwave the distinction of multifamily partner of the year. The publishing and conference company recognized Aerwave at the Broadband Communities Summit held June 23 to June 27 in Houston. Entrants were evaluated by an expert panel of judges. Aerwave stood out for its fiber-based mesh networking, proprietary software and gigabit-plus internet that spans entire properties. According to the company, Aerwave’s platform supports smart home technology, simplifies self-guided tours, enhances Wi-Fi calling coverage and enhances resident experience and simplifies operations for property managers and owners.

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Azola-Avery-Centre-Round-Rock
DevelopmentNewsTexas

ZOM Living, CP Capital Deliver Azola Avery Center in Austin MSA

by Lynn Peisner

ROUND ROCK, TEXAS — ZOM Living and CP Capital have completed and opened Azola Avery Center, a 359-unit, garden-style community located within the 1,200-acre Avery Centre master-planned development in Round Rock. JHP was the architect, Rampart was the general contractor, and Meshberg Group was the interior designer. Azola Avery Centre consists of studios and one-, two- and three-bedroom units. Monthly asking rents range from $1,200 to $2,600. Amenities include a resort-style pool, outdoor pavilion with grills and TVs, pocket parks and a fenced dog park. Indoors, residents have access to …

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The-Indigo-Apartments-Clearwater
Affordable HousingBerkadiaDevelopmentFloridaNewsSoutheast

Sunrise Affordable Housing Locks in Financing to Convert Clearwater Market-Rate Property

by Lynn Peisner

CLEARWATER, FLA. — Sunrise Affordable Housing Group has arranged financing to convert The Indigo Apartments in Clearwater from a market-rate to an affordable community. Part of the financing includes a $20.3 million HUD loan arranged by Berkadia. Other sources of financing include federal Low-Income Housing Tax Credit (LIHTC) equity from R4 Capital, two loans from the City of Clearwater and land trust equity from Pinellas County. Following a renovation, the 208-unit tower will be converted from market-rate housing into affordable housing for families earning between 30 and 80 percent of …

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Calabash
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

EYC and Capstone Building Corp. Complete North Carolina BTR Project

by Lynn Peisner

CALABASH, N.C. — General contractor Capstone Building Corp. has completed building Heartsease at Calabash, a $40 million build-to-rent (BTR) project developed by EYC Cos. The development includes 158 cottages on 40 acres. The floor plans are offered as duplexes with one or two bedrooms or standalone homes with one, two or three bedrooms. Calabash is about 25 miles north of Myrtle Beach. Units feature 10‑foot ceilings, private porches and yards, garages or carports, laundry rooms with washers and dryers and valet trash service. Amenities include a clubhouse with full kitchen, …

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Belmond
Investment SalesNewsTexas

Knightvest Capital Sells Belmond in Haltom City, Texas

by Lynn Peisner

HALTOM CITY, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Belmond, a 312-unit community in Haltom City five miles northeast of Fort Woth, Texas. Joey Tumminello, IPA senior managing director, along with IPA’s Taylor Hill, Drew Kile, Michael Ware and William Hubbard represented the seller, Knightvest Capital, and procured the buyer, TwinkleStar Asset LLC. Built in 2001 on 17 acres, Belmond is a three-story, garden-style asset with controlled-access gates, a resort-style pool, community grilling stations, covered parking and detached garages. Upgraded units have built-in desks, oversized oval …

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Addison-Landing-Jacksonville
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $44.8 Million Jacksonville Sale

by Lynn Peisner

JACKSONVILLE, FLA. — Berkadia has arranged the sale of Addison Landing in Jacksonville. WRH Realty out of St. Petersburg, Florida, sold the 289-unit community to Tampa-based Argyle Real Estate Capital. According to public records, the asset traded for approximately $44.8 million. Senior Director Greg Rainey and his team at Berkadia Central & North Florida represented the seller. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers, which included a $31.3 million, Freddie Mac-backed loan with a …

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Shea-Ravines
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper, Cherry Health Break Ground on Affordable Housing Near Grand Rapids

by Lynn Peisner

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. have broken ground on Shea Ravines, a 56-unit affordable housing community in Wyoming, about six miles south of Grand Rapids. Shea Ravines will be a LEED-certified, four-story building with an elevator. It will offer 40 one-bedroom and 16 two-bedroom apartments for singles, families and seniors who earn up to 80 percent of area median income. The property will have 20 Permanent Supportive Housing (PSH) units. These units are specifically reserved for people experiencing homelessness or people with disabilities. The PSH units …

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Company NewsNewsPeople News

UDR Appoints Dave Bragg Chief Financial Officer

by Lynn Peisner

HIGHLANDS RANCH, COLO. — Publicly traded REIT UDR Inc. (NYSE: UDR) has appointed Dave Bragg as chief financial officer, effective July 24. Bragg succeeds Joe Fisher, who in January 2025 was appointed to the role of chief investment officer in addition to his responsibilities as the company’s president. Bragg joins UDR from Roots Management Group, an owner and operator of manufactured housing and recreational vehicle resort communities. Bragg joined Roots in 2022, most recently serving as chief financial officer and previously as chief strategy officer and head of investment management. …

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Green-Arbor-Apartments-2
Investment SalesNewsTexas

Colliers Arranges Sale of Green Arbor in Houston

by Lynn Peisner

HOUSTON — Colliers has arranged the sale of Green Arbor Apartments, a 252-unit community located at 10601 Sabo Road in Houston’s Southbelt‑Ellington area. The property’s units are offered as one-, two- and three-bedroom floor plans. Chip Nash, Bob Heard and Jaleel Adatia of Colliers led the transaction. Neither the buyer, seller nor asset price was disclosed. According to Apartments.com, monthly asking rents range from $842 to $1,727.

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Putnam-Green
ConnecticutInvestment SalesNewsNortheast

CBRE Arranges $20.7 Million Sale on Connecticut-New York Border

by Lynn Peisner

GREENWICH, CONN. — PIC Associates has sold Putnam Green in Greenwich to Beford Realty Executives for $20.7 million. CBRE’s Jeffrey Dunne, Eric Apfel and Travis Langer represented the seller and procured the buyer. Part of the sale included the buy-out of a ground lease. A neighboring property had owned Putnam Green land through a lease agreement set to expire in September. Putnam Green was built in 1976. The unit mix contains 28 studios and 38 one-bedroom apartments, 34 of which are two-story, duplex-style units. The property has 62 surface parking …

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