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Andover Real Estate Partners Hires Griffin Hoffmann to Lead Acquisitions

by Lynn Peisner

BOCA RATON, FLA. — Andover Real Estate Partners has hired Griffin Hoffmann as principal, head of acquisitions. Hoffmann joins Andover from HPP Real Estate, where he served as partner and head of acquisitions, overseeing new investments and asset management for a portfolio of approximately 1,500 multifamily units nationwide. Earlier in his career, he led acquisitions and development for Somerset Partners/SAM (Sandhurst Apartment Management), where he was responsible for about $1.5 billion in transactions. At Andover, Hoffmann will lead the firm’s national growth, with a focus on value-add multifamily investments in …

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DevelopmentFloridaNewsSoutheast

ANF Tops Out Skye Apartments in Delray Beach, Florida

by Lynn Peisner

DELRAY BEACH, FLA. — Davie, Florida-based construction firm ANF has topped out Skye Apartments, the second phase of the 50-acre Parks at Delray mixed-use development. Project developers are 13th Floor Investments and Key International, in partnership with CDS International Holdings and Wexford Capital. Skye will include studio, one-, two- and three-bedroom units, ranging from approximately 560 to 1,427 square feet, along with townhomes ranging from 1,670 to 1,770 square feet. Amenities will feature a resort-style pool with cabanas and a bar, parks with jogging trails, barbecue areas, a playground, coworking …

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parc@5-Downey
CaliforniaInvestment SalesNewsWestern

Colliers Arranges Sale of Parc @ 5 in Downey, California

by Lynn Peisner

DOWNEY, CALIF. — Colliers has arranged the sale of Parc @ 5, a 104-unit property in Downey, approximately 12 miles south of Los Angeles. B.A.G. Investments acquired the asset from an entity doing business as Parc @ 5 Downey LLC. The sales price was not disclosed. Representing the seller, Colliers’ Shane Shafer brokered the transaction. The community is made up of one-, two- and three-bedroom units.

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Alta-Longmont-Colorado
ColoradoDevelopmentNewsWestern

Wood Partners, EIG EuroInvestor Break Ground on 252-Unit Alta Longmont Northeast of Boulder

by Lynn Peisner

LONGMONT, COLO. — Wood Partners and Hamburg, Germany-based capital partner EIG EuroInvestor have broken ground on Alta Longmont, a 252-unit development 15 miles northeast of Boulder, Colorado. The seven-building, three-story community features a mix of one-, two- and three-bedroom layouts. Amenities include a resort-style pool and courtyard with mountain views, an outdoor kitchen and grill area, a fitness center, a resident clubhouse, a business center with private conference rooms and a dedicated dog-walking area. Project partners include Design Balance as the lead architect, Civil Resources as the civil engineer and …

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Park-at-Whispering-Pines-Daphne
AlabamaInvestment SalesNewsSoutheast

Cushman & Wakefield Represents Seller in Daphne, Alabama, Transaction

by Lynn Peisner

DAPHNE, ALA. — Cushman & Wakefield has represented a private seller in its disposition of Park at Whispering Pines in Daphne, located along the Gulf Coast of Alabama, about 15 miles east of Mobile. Northcutt Investments purchased the asset for an undisclosed sum. The transaction included the property’s 143 units as well as approximately 10 extra acres of developable land. The community was built in 2008.

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Park-Encino-LA
CaliforniaInvestment SalesNewsWestern

IPA Arranges $28M Sale of Park Encino in Los Angeles

by Lynn Peisner

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the $28 million sale of Park Encino, a 52-unit property in the Encino neighborhood of Los Angeles. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the undisclosed seller and procured the buyer, locally based Universe Holdings Development. Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio and grill. The unit mix is comprised of two- and three-bedroom floor plans. Units feature washers and dryers and walk-in closets.

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Affordable HousingCaliforniaDevelopmentNewsWestern

Mid-Pen Housing Breaks Ground on Lazuli Landing in Union City, California

by Lynn Peisner

UNION CITY, CALIF. — MidPen Housing has begun construction of Lazuli Landing, an 81-unit affordable housing property in Union City’s Decoto neighborhood. The one-, two- and three-bedroom units will be reserved for residents earning between 20 to 60 percent of area median income, which ranges from yearly salaries of $31,690 to $95,880 for a family of four. Prospective residents who live and work in Union City or Alameda County will be given preference over non-local renters. Alameda County voters approved $13.2 million for the project. In addition to the City …

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Alexan-Evans-Station-Denver
ColoradoFinanceNewsWestern

PCCP Provides Trammell Crow $78M ReFi Loan for Alexan Evans Station in Denver

by Lynn Peisner

DENVER — PCCP has provided a $78 million loan to Trammell Crow Residential for the refinancing of Alexan Evans Station in Denver. The 367-unit property, located at 2121 S. Broadway, was built in 2023 and is LEED Gold-certified. It offers a mix of studio, one-, two- and three-bedroom units and 7,334 square feet of ground-floor retail space leased to F45, SweatHouz and Pacific Dental Services. Amenities include a pool and hot tub with cabanas, a fitness center, coworking spaces and a conference center, EV charging and an on-site convenience market.

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Bains-Pointe-Portmouth
Affordable HousingDevelopmentNewsSoutheastVirginia

Woda Cooper Opens Bains Pointe, An Affordable Community in Portsmouth, Virginia

by Lynn Peisner

PORTSMOUTH, VA. — Woda Cooper Cos. has opened Bains Pointe, a 50-unit affordable housing community in Portsmouth, about three miles west of Norfolk, Virginia. The property includes 39 two-bedroom apartments and 11 three-bedroom units reserved for renters earning between 30 and 80 percent of area median income. Some units are specifically for residents who are developmentally disabled and served by partner STOP Inc., a Hampton Roads, Virginia-based nonprofit that offers supportive services to lower-income individuals and veterans. Some units at Bains Pointe were also designed to serve people with mobility …

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The-Jewel-at-Santa-Rosa
FinanceFloridaNewsSoutheast

Walker & Dunlop Arranges $79M ReFi for Bristol Development’s Jewel at Santa Rosa Beach in Florida

by Lynn Peisner

SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million refinancing loan for The Jewel at Santa Rosa Beach, a 408-unit property in Santa Rosa Beach. The borrower was Bristol Development Group. The Walker & Dunlop Capital Markets Real Estate Finance team led by Jeremy Pino, Livingston Hessam, Carl Passmore and Kyle Miller coordinated the transaction alongside Walker & Dunlop FHA Finance’s Keith Melton and David Strange to arrange the interest-only, non-recourse bridge loan with an institutional debt fund. The Jewel at Santa Rosa Beach includes one-, …

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