ANN ARBOR, MICH. — Marquette Cos. and a fund managed by DRA Advisors have sold The Haven at Ann Arbor, a 520-unit community in Ann Arbor. Abacus Capital Group, a New York-based real estate investment firm, purchased the asset for an undisclosed price. At the time of sale, the community was 95 percent occupied. The Haven at Ann Arbor offers a mix of studio, one- and two-bedroom units ranging from 650 to 1,075 square feet. Community amenities include a clubhouse with resident lounge, three fitness centers, an outdoor pool with …
EL PASO, TEXAS — JRK Property Holdings has sold Retreat at Mesa Hills, a 752-unit asset in El Paso’s Upper West Side neighborhood, to an undisclosed buyer. Retreat at Mesa Hills was developed in phases beginning in 1995. The community offers a mix of one-, two- and three-bedroom floor plans. Units range from 538 to 2,127 square feet. Residents have access to shared amenities such as three pools with a tanning deck and cabanas, a fitness center, two tennis courts, two sand volleyball courts, clubroom, game room, theater and an …
NAPERVILLE, ILL. — Marquette Cos., a developer and property manager based in Naperville, has appointed Trevor Ryan as partner and president. In this role, Ryan will focus on overall organizational strategy and identify new investment opportunities. Additionally, the company selected Jim Cunningham as partner and president of Marquette Management, the property management subsidiary of Marquette Cos. Cunningham will lead the operations side of the business. He will focus on improving customer experience and operational efficiencies, as well as direct the company’s adoption of artificial intelligence. Finally, Jason Tennenbaum joined the …
GREENVILLE, S.C. — Hathaway Cos. has purchased Water Tower Apartments, a 233-unit community located at 1000 Water Tower Circle in Greenville, for $45.4 million. The seller was Urban Realty Partners. JLL Capital Markets represented the seller in the deal and originated an acquisition loan on behalf of the buyer. John Gavigan, John Mikels and Chase Monroe led the JLL Capital Markets investment and sales advisory team. Brad Woolard and Taylor Allison spearheaded the debt advisory team. Built in 2024, Water Tower Apartments offers a mix of studios, one-, two- and …
CAMBRIDGE, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.4 million loan for the refinancing of an apartment building located at 891 Massachusetts Ave. in Cambridge. Robert Damigella of MMCC arranged the nonrecourse loan, which carries a fixed interest rate of 7.12 percent and a 65 percent loan-to-value ratio, through a local credit union. The sponsor was not disclosed. Situated across the Charles River from Boston, the property comprises 16 units. According to Apartments.com, the building was completed in 1880 and rises four stories.
DENVER — Sentral, a Denver-based owner and operator, has hired Bobbie Norris to the role of vice president of client services. Norris will work with clients and Sentral’s operations team to streamline performance and ensure client satisfaction. Prior to joining Sentral, she held positions at Greystar and Camden Property Trust. Additionally, Sentral hired Heather Hadden as vice president of East Coast operations. She previously held vice president roles at South Oxford Management and Birchstone Residential.
NORTHLAKE, TEXAS — Harbor Group International (HGI) has acquired Livano Canyon Falls, a 300-unit community located roughly 28 miles north of Fort Worth, Texas, in Northlake. The three-story, garden-style asset offers one-, two- and three-bedroom floor plans. The average unit size is 1,015 square feet. Amenities include a pool, private workspaces and fishing ponds. Drew Kile, Michael Ware, Joey Tumminello, Taylor Hill and Shelby Clark of IPA represented the undisclosed seller in the transaction and procured the buyer. Brian Eisendrath, Cameron Chalfant, Harry Krieger and Tyler Johnson of IPA Capital …
CHICAGO — Daniel Levin, founder and chairman of Chicago-based developer and property manager Habitat Co., has passed away at the age of 94. Levin founded the company in 1971 to manage a series of housing projects totaling 25,000 units across several states, including South Commons, a 28-acre urban renewal project on Chicago’s South Side. Habitat now has $3 billion in assets and 10,000 units under management. Levin began his career as a lawyer at a small firm in Detroit, where he represented the Chicago-based developer of Lafayette Park, a 78-acre mixed-use …
ATLANTA — Enterprise Community Partners, an Atlanta-based affordable housing nonprofit organization, has appointed Dr. Christie Cade as Vice President of the Southeast Market. In this position, Cade will lead Enterprise’s affordable housing and community development efforts in Georgia, Florida, North Carolina, South Carolina, Alabama and Tennessee. Cade will coordinate investment to support affordable housing production, provide training and technical assistance to support preservation and faith-based development and advocate for housing policies at the state and local levels. Previously, Cade served as regional vice president for the southern region at NeighborWorks …
NEW YORK CITY — NCV Capital Partners and Unique People Services have broken ground on Ogden Theater Apartments, an 85-unit affordable housing development in the Highbridge neighborhood of the Bronx. Total capitalization for the project is $66 million. Located at 1415 Ogden Ave., Ogden Theater Apartments will feature 51 units of supportive housing for formerly homeless individuals, as well as 34 units for households who receive assistance paying rent through the Housing Choice Voucher program or who are earning at or below 60 percent of the area median income. Amenities …