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Lake Taylor Pointe Apartments
DevelopmentNewsSoutheastVirginia

Breeden Completes $43 Million Project in Norfolk, Virginia

by Channing Hamilton

NORFOLK, VA. — The Breeden Co. has completed Lake Taylor Pointe Apartments, a 198-unit community located at 1060 Kempsville Road in Norfolk. The property offers carriage house and garden-style buildings. Units come in one-, two- and three-bedroom floor plans ranging from 723 square feet to 1,425, according to Apartments.com. Amenities include a pool, poolside fitness center, outdoor gathering areas, arcade room, electric vehicle charging stations and a bark park. Rental rates for the property begin at $1,750. Breedon Construction served as the general contractor for the $43 million development.

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The 104
FinanceNewsWashingtonWestern

MainStreet Property Group Receives $19 Million in Refinancing for 115-Unit Community in Bothell, Washington

by Channing Hamilton

BOTHELL, WASH. — MainStreet Property Group has secured a $19 million loan for the refinancing of The 104 in Bothell, roughly 20 miles northeast of Seattle. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will service the loan. The 104 features 115 apartments in one- and two-bedroom floor plans, averaging 773 square feet. Units feature stainless steel appliances, walk-in closets and exposed concrete details. Amenities include a lounge with kitchen, a community courtyard, …

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Andrew Leahy, IPA
CaliforniaInvestment SalesNewsPeople NewsWestern

IPA Appoints National Director of Multifamily

by Channing Hamilton

CALABASAS, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has hired Andrew Leahy as senior vice president and national director of IPA’s multifamily division. In this role, Leahy will lead IPA advisory teams across North America. Previously, he led investments for Elme Communities. He has also served with the Rockefeller Group, where he led acquisitions throughout the United States on behalf of domestic and global private equity investors. Leahy began his career as an analyst at The Blackstone Group.

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Todd Sears, The Annex Group
IndianaMidwestNews

The Annex Group Hires Todd Sears as Chief Operating Officer

by Channing Hamilton

INDIANAPOLIS — The Annex Group has hired Todd Sears as Chief Operating Officer (COO). In this role, Sears will lead the development, construction and property management teams within the Indianapolis-based company. Sears has more than three decades of experience in real estate and finance leadership. He also serves as an adjunct faculty member of Butler University’s Lacy School of Business. CJ Lukaart, who previously served as COO, will also transition to become Chief Legal and Administrative Officer. He will lead the company’s legal, HR, IT and marketing teams.

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Investment SalesNew JerseyNewsNortheast

Tower Management Secures $24.2 Million Acquisition Financing for Asset in North Bergen, New Jersey

by Channing Hamilton

NORTH BERGEN, N.J. — Tower Management has received $24.2 million in financing for the acquisition of Hudson Ridge Apartments, a 215-unit asset in North Bergen. The property is situated at 7112-7312 Blvd. E, about eight miles north of New York City.  Built in 1949, Hudson Ridge Apartments offers a mix of studio, one- and two-bedroom units. Apartments include hardwood flooring, stainless steel appliances and oversized closets. Residents have access to outdoor amenities such as picnic areas and garage parking. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Michael Mataras of …

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DevelopmentNewsTexas

Partnership Buys 226-Unit Complex in DeSoto, Texas

by Channing Hamilton

DESOTO, TEXAS — A partnership between RSN Property Group and Monday Properties has acquired Ventura Landings, a 226-unit asset located DeSoto, about 16 miles south of Dallas. Ventura Landings offers one- and two-bedroom units. Amenities include a pool, clubhouse, basketball court and on-site laundry facilities. The property was recently renovated. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed. 

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21 West
DevelopmentFinanceNewsNortheastPennsylvania

Joint Venture Secures $67 Million Construction Financing for 21 West in Pittsburgh

by Channing Hamilton

PITTSBURGH — A joint venture between Oxford Development Co. and RDC has received a $67 million construction loan for 21 West, a 291-unit project in Pittsburgh. Nick Unkovic and Zach Barone of JLL Capital Markets arranged the four-year floating rate construction loan through Dollar Bank. A construction timeline was not disclosed. Located at 430 W General Robinson St., the project will comprise 313,000 square feet across 11 stories. Units will come in studio, one- and two-bedroom floor plans. Residents will have access to amenities such as a sky bar on …

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The Liberty
Investment SalesMidwestMinnesotaNews

The Goodman Group Buys $59 Million Asset in Suburban Minneapolis

by Channing Hamilton

GOLDEN VALLEY, MINN. — Chaska, Minnesota-based The Goodman Group has bought The Liberty, a 242-unit asset in Golden Valley, roughly seven miles west of Minneapolis. An entity related to the Schachtman family sold the property for $59.5 million. Abe Roberts of Marcus and Marcus & Millichap’s Minneapolis office represented the seller and procured the buyer. Completed in 2017, The Liberty offers 55 townhomes and 187 apartments. Units range from 568 square feet to 1,536 square feet and include full size washers and dryers, stainless-steel appliances and balconies. The community also …

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Silver Cove Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Negotiates $8.1 Million Sale of Miami Asset

by Channing Hamilton

MIAMI — Marcus & Millichap has arranged the $8.1 million sale of Silver Cove Apartments, an 18-unit community located at 2010 Southwest 25th Terrace in Miami. Built in 2021, the property consists of 33,424 square feet across four stories. Apartments come in two- and three-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office represented the undisclosed seller in the transaction. The identity of the buyer was also not disclosed.

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Affordable HousingDevelopmentNewsTexas

Partnership Delivers 100-Unit Supportive Housing Project in Austin

by Channing Hamilton

AUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Affordable Housing Corp. has completed Cady Lofts, a 100-unit supportive housing project in Austin’s Hancock neighborhood. Cady Lofts offers studio apartments for renters that are earning between 40 to 60 percent of the area median income, or who are overcoming homelessness, dealing with physical and developmental disabilities or recovering from addiction. Each studio will be fully-furnished and feature appliances and eco-friendly utility systems. Residents have access to a communal computer lab, health and wellness center, case management offices and …

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