Wednesday, January 22, 2025
Read the Digital Magazines Subscribe to the Newsletter

News

Mission Gorge in San Diego, California
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Impact Housing, Verbena Road Holdings Secure $112.2 Million Construction Financing for Affordable Housing Project in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Impact Housing and Verbena Road Holdings have secured $112.225 million in financing for the construction of Mission Gorge, a 483-unit affordable housing development located at 6171 Mission Gorge Road, roughly 8 miles north of downtown San Diego.  Charles Halladay, Joseph Choi and Will Bond of JLL Capital Markets worked on behalf of the borrower to secure an $85.225 million, three-year, floating rate senior construction loan through ACORE CAPITAL. JLL also arranged $27 million in preferred equity with Ascendant Capital Partners. Mission Gorge will feature a mix …

Continue Reading
0 FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Taylor Morrison Acquires Build-to-Rent Development Site in Apollo Beach, Florida

by Channing Hamilton

APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California. Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Place at Castle Hills in San Antonio
Investment SalesNewsTexas

Harvest Equities Acquires 680-Unit The Place at Castle Hills in San Antonio

by Channing Hamilton

SAN ANTONIO — Philadelphia-based Harvest Equities has purchased The Place at Castle Hills, a 680-unit community in San Antonio. MC Cos. sold the asset for an undisclosed price. Built on 23 acres in 1984, The Place at Castle Hills offers one- and two-bedroom units with an average size of 687 square feet. Amenities include three pools, a business center and a resident clubhouse. Drew Garza, Will Balthrope and Ben Kalter of Institutional Property Advisors, a division of Marcus & Millichap, negotiated the deal.

Continue Reading
0 FacebookTwitterLinkedinEmail
900 Morrissey Blvd. in Boston
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

The Community Builders Secures Financing for Affordable Housing Redevelopment in Boston

by Channing Hamilton

BOSTON — The Community Builders has received an undisclosed amount of financing for an affordable housing redevelopment project in Boston. The project will convert the former Comfort Inn at 900 Morrissey Blvd. in the Dorchester area into a 99-unit complex that is designed to support individuals previously experiencing homelessness. Units will be reserved for households earning 30 percent or less of the area median income. The property will include office and community spaces on the ground floor. The development is slated for completion in mid-summer 2025. MassHousing provided the financing. …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsOperationsTexas

Department of Justice Ends Investigation Into Rental Housing Pricing Practices, Says RealPage

by Channing Hamilton

RICHARDSON, TEXAS — The Department of Justice (DOJ) has closed its criminal investigation into the pricing practices of the rental housing industry, according to RealPage, citing a DOJ notice. In a statement released Dec. 6, the company also reaffirmed its stance that its software platform did not violate antitrust laws. RealPage stated that it cooperated extensively with the DOJ throughout the now-closed investigation, adding that the DOJ did not identify RealPage as a target of the investigation at any point. While the criminal investigation has ended, it remains unclear whether …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingInvestment SalesNew YorkNewsNortheast

Genesis Cos., Lemor Development Receive $71 Million Acquisition Financing for 664-Unit Affordable Housing Community in Harlem

by Channing Hamilton

NEW YORK CITY — Genesis Cos. and Lemor Development have secured $71 million in acquisition financing for Frederick Samuel Apartments, a 664-unit affordable housing asset in New York City’s Harlem neighborhood. The property consists of 40 residential buildings. Income restrictions for the apartments were not disclosed. The new ownership will renovate the community with a combination of passive park spaces, programmed urban farms, a new playground and community gardens provided by Harlem Grown. Heather Olson and Matthew Baptiste of Berkadia facilitated the 30-year permanent financing through Freddie Mac’s Bond Credit …

Continue Reading
0 FacebookTwitterLinkedinEmail
Monterra Village in Fort Worth, Texas
Investment SalesNewsTexas

Weidner Apartment Homes Acquires 550-Unit Property in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Weidner Apartment Homes has acquired Monterra Village, a 550-unit community in Fort Worth, from Hillwood Multifamily for an undisclosed price. Built in two phases on 35 acres in 2008 and 2013, the garden-style property features a lagoon, lap pools with water features and pocket parks. The average apartment size is 985 square feet. Monterra Village is located within the 900-acre Alliance Town Center development, which features 1 million square feet of retail, restaurant and office space. Alliance Town Center is surrounded by the 27,000-acre AllianceTexas master-planned …

Continue Reading
0 FacebookTwitterLinkedinEmail
Copper Ridge Apartments in Renton, Washington
Investment SalesNewsWashingtonWestern

SCS Development Co. Completes $70.7 Million Sale of Copper Ridge Apartments in Renton, Washington

by Channing Hamilton

RENTON, WASH. — SCS Development Co. has sold Copper Ridge Apartments, a 325-unit community in Renton, roughly 11 miles south of Bellevue, Washington. Timberlane Partners purchased the asset for $70.7 million. Built in 1983 and 1985, Copper Ridge offers one-, two- and three-bedroom apartment units housed in two- and three-story residential buildings. The average unit size is 788 square feet. All residences have private decks or balconies, and select units also feature wood-burning fireplaces. Amenities include a pool, three laundry facilities and a children’s playground. Giovanni Napoli, Philip Assouad, Ryan Harmon, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Belt and Main in Richardson, Texas
FinanceNewsTexas

Affinius Capital Originates $81.3 Million Refinancing for Belt and Main in Richardson, Texas

by Channing Hamilton

RICHARDSON, TEXAS — Affinius Capital LLC has originated an $81.3 million loan to refinance Belt and Main, a 350-unit community with 17,000 square feet of retail space in Richardson, about 15 miles north of Dallas. Catalyst Urban Development was the borrower. Jeremy Sain of JLL led the team that arranged the financing. Belt and Main offers a mix of 269 one-bedroom residences and 81 two-bedroom apartments. Units feature quartz countertops, wood-style flooring, stainless steel appliances, custom cabinetry, floor-to-ceiling windows and full-size washer and dryers. Select units also include patios and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Hampton Meridian in Apache Junction, Arizona
ArizonaBuild-to-RentInvestment SalesNewsWestern

Institutional Property Advisors Arranges $56 Million Sale of Build-to-Rent Asset Near Phoenix

by Channing Hamilton

APACHE JUNCTION, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hampton Meridian, a build-to-rent community in Apache Junction, 35 miles east of Phoenix. The asset traded hands for $56.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Neither party’s identity was disclosed. Built in 2023, Hampton Meridian consists of 195 residences across 16 acres. The average unit size is 1,009 square feet. Residents have access to amenities such as a pool, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.