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Rancho Vista Apartments in Ontario, California
CaliforniaInvestment SalesNewsWestern

Convenient Holdings Buys Property in Ontario, California, for $46.3 Million

by Channing Hamilton

ONTARIO, CALIF. — Convenient Holdings has acquired Rancho Vista Apartments, a 125-unit community in Ontario, roughly 40 miles east of Los Angeles. Clear Capital sold the asset for $46.3 million. Built in 1984, Rancho Vista Apartments features two- and three-bedroom floor plans. The average unit size is 1,022 square feet. Amenities include a pool, cardio and weight training center, picnic area with barbeque grills, gated access and on-site maintenance. Alexander Garcia, Kyle Pinkalla, Chris Zorbas, Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus …

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House Apartments in Eagle, Colorado
ColoradoFinanceNewsWestern

Brikwell Secures $7.5 Million Loan for Refinancing of House Apartments in Eagle, Colorado

by Channing Hamilton

EAGLE, COLO. — Brikwell has received a $7.5 million loan for the refinancing of House Apartments, a 54-unit property located at 85 Pond Road in Eagle, about 30 miles west of Vail, Colorado. Tony Nargi of JLL Capital Markets negotiated the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender, will service the loan. Completed in 1998 on 4.8 acres, House Apartments totals 27,838 rentable square feet. The elevator-served building rises three stories. Residents have access to amenities such as a laundry facility, community kitchen and work-from-home …

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Colony Lofts in Toledo, Ohio
DevelopmentMidwestNewsOhio

Continental, Hallmark Deliver Colony Lofts in Toledo, Ohio

by Channing Hamilton

TOLEDO, OHIO — Continental Real Estate Cos. and Hallmark Communities have completed development of Colony Lofts, a 262-unit community in Toledo. Colony Lofts offers amenities such as a pool, grilling stations, fitness center, business center, clubhouse and coffee bar. The property also includes retail spaces, electric vehicle charging stations and an outpost of Central Ohio restaurant chain The Old Bag of Nails Pub. Monthly rents start at $964 for a studio unit, according to the property’s website. Coastal Ridge is the property manager.

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Affordable HousingFinanceInvestment SalesNewsNortheastPennsylvania

Lument Provides $24.8 Million Acquisition Loan for Affordable Housing Asset in Levittown, Pennsylvania

by Channing Hamilton

LEVITTOWN, PA. — Lument has provided a $24.8 million Freddie Mac acquisition loan for an affordable housing complex in Levittown, approximately 27 miles northeast of Philadelphia. The property was completed in 1972 and offers amenities such as clubhouse, fitness center, playground and outdoor grilling stations. The name of the asset was not disclosed. The buyer was an affiliate of New Jersey-based owner-operator Silverstein Properties. John Hurley of Lument originated the financing, which carried a five-year term and a 35-year amortization schedule, on behalf of the buyer. Zach Schwartz of Brook …

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Company NewsInvestment SalesNewsPeople NewsTexas

Franklin Street Launches Multifamily Investment Sales Division in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Franklin Street, a commercial real estate services firm based in Tampa, has launched a multifamily investment sales division for Texas markets. Patrick Strake will lead the new business unit, which will operate as a seven-person team from Franklin Street’s existing office in Austin. The Austin office opened approximately a year ago and now consists of roughly 20 professionals who also offer services for land, office and industrial verticals.

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Company NewsNewsPeople NewsTexas

Dominium Appoints Mark Moorhouse, Kyle Hansen as Co-CEOs

by Channing Hamilton

DALLAS — Dominium, an affordable housing developer and owner-operator based in Dallas, has selected Mark Moorhouse and Kyle Hansen to share leadership responsibilities for the company as co-CEOs. The move comes as senior managing partner Paul Sween becomes chairman of Dominium’s board of directors. In his new position, Sween will oversee the board of directors and set its agenda. He will continue to serve as a partner in the firm. Moorhouse and Hansen will work in partnership to lead the overall strategy and direction of the company. Moorhouse will continue …

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DevelopmentMassachusettsNewsNortheast

NEI General Contracting Completes Renovation of Boston Community

by Channing Hamilton

BOSTON — Randolph, Massachusetts-based NEI General Contracting has completed the renovation of Carol Avenue Apartments, a 33-unit community located in the Allston-Brighton neighborhood of Boston. According to the City of Boston, 29 of the units are affordable rental units. Income restrictions for these residences were not disclosed. The project involved the top-to-bottom renovation of three buildings totaling 16,196 square feet. The community received new windows, roofs, wall insulation and solar energy panels. Additionally, the project team restored and reused the building’s historic brick façade. Financing sources for the project included …

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Haven Hoffman Estates in Hoffman Estates, Illinois
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Purchase Asset Near Chicago for $75.8 Million

by Channing Hamilton

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property.  Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …

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Town Deer Valley in Phoenix
ArizonaInvestment SalesNewsWestern

Goodman Real Estate Purchases Community in Phoenix for $131 Million

by Channing Hamilton

PHOENIX — Goodman Real Estate has acquired Town Deer Valley, a 388-unit community in Phoenix, for $131.1 million. Built in 2024 on 18 acres, Town Deer Valley offers amenities such as a 5,900-square-foot clubhouse with arts and crafts room, poker room and sundry shop. Residents also have access to a 3,800-square-foot fitness center and a pool. The average unit size is 1,004 square feet. The seller was a joint venture between The Related Group and Rockpoint. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & …

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Red Table Apartments in Gypsum, Colorado
ColoradoFinanceNewsWestern

Brikwell Secures $18.7 Million Loan for Refinancing of Property in Gypsum, Colorado

by Channing Hamilton

GYPSUM, COLO. — Brikwell has received an $18.7 million loan through Freddie Mac for the refinancing of Red Table Apartments, a 77-unit community located at 765 Red Table Drive in Gypsum. The property comprises 64,692 rentable square feet on a 3.6-acre site. Tony Nargi of JLL Capital Markets arranged the 10-year, fixed-rate loan, which will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo Lender. Built in 2009 and expanded in 2018, Red Table Apartments offers a mix of studio, one- and two-bedroom units. The three-story community …

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