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Mailman Post in Raleigh, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

Turnbridge Equities Receives $51.2 Million Construction Loan for Build-to-Rent Project Near Raleigh, North Carolina

by Channing Hamilton

KNIGHTDALE, N.C. — Turnbridge Equities has received a $51.2 million construction loan for Mailman Post, a 302-unit build-to-rent (BTR) development in Knightdale, about 12 miles east of Raleigh, North Carolina. Paul Spellman, Chris Peck and Ward Smith of JLL Capital Markets arranged the non-recourse loan through a regional bank. Mailman Post is located on 74 acres at 409 and 438 Mailman Rd. The community will feature a mix of two- through five-bedroom units with an average size of approximately 1,650 square feet. Each unit will include a backyard, garage and …

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Los Arcos at Vida in San Antonio
Affordable HousingDevelopmentNewsTexas

NRP Group Delivers $81 Million Affordable Housing Project in San Antonio

by Channing Hamilton

SAN ANTONIO — Cleveland-based developer The NRP Group has completed Los Arcos at Vida, an $81 million affordable housing project in San Antonio. Located within the 600-acre Vida master-planned development, Los Arcos at Vida consists of 324 apartments, which are reserved for households earning between 30 and 70 percent of the area median income.  Units come in one-, two, three- and four-bedroom floor plans. Community amenities include a pool with a sundeck, barbecue grills and picnic areas, a conference center and cybercafé, activities room, community garden, playground and laundry facilities.  …

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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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MidwestNewsPeople NewsWisconsin

MLG Names Billy Fox as President, Dan Price as Chief Investment Officer

by Channing Hamilton

BROOKFIELD, WIS. — Brookfield-based investment firm MLG Capital has appointed Billy Fox to the position of president and principal. Additionally, the company promoted Dan Price to the role of Chief Investment Officer (CIO) and principal. Fox has been with MLG for 10 years and currently leads the firm’s Legacy Fund. As president, he will lead team building efforts, investment strategy and overall client experience. He will continue to serve on the company’s investment committee. Price has worked with MLG for four years. He currently leads the firm’s Midwest acquisition team …

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ArizonaInvestment SalesNewsWestern

Goodegg Investments Purchases 71-Unit Asset in Phoenix

by Channing Hamilton

PHOENIX, ARIZ. — Goodegg Investments has purchased North Edge Apartments, a 71-unit community in Phoenix, for an undisclosed price. According to Apartments.com, the property was completed in 1979 and consists entirely of one-bedroom units. Most of the apartments, as well as common areas, were renovated within the last 2 years. North Edge Apartments is the 38th multifamily community that Goodegg Investments has acquired since the company’s inception in 2018. The San Francisco, California-based firm now owns approximately 9,000 apartments, with roughly 4,500 currently under management.

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Stonehenge in Lebanon, Tennessee
Investment SalesNewsSoutheastTennessee

IPA Arranges $52 Million Sale of Stonehenge Near Nashville, Tennessee

by Channing Hamilton

LEBANON, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Stonehenge, a 228-unit community in Lebanon, about 20 miles east of Nashville. The asset traded hands for $52 million. The buyer and seller were not disclosed. Built on a 13-acre site in 2023, Stonehenge offers units ranging from one- to three-bedrooms. Amenities include a saltwater pool, clubhouse, fitness center and entertainment lounge. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Additionally, …

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Infinity on Yorktown in Dallas, Texas
Investment SalesNewsTexas

ShainRealty Capital Buys 226-Unit Complex in Dallas for $39.5 Million

by Channing Hamilton

DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased Yorktown Luxury Apartments, a 226-unit property located in the Kessler Park neighborhood of Dallas. Nuveen Real Estate sold the asset for $39.5 million. Eric Calub, Caleb Jones and Paul Harris of Berkadia arranged the transaction. Built in 2016, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, lounge and outdoor grilling and dining stations. The new ownership will make capital improvements and has rebranded the property as Infinity on Yorktown. Arbor Realty Trust provided …

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Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers $7.3 Million Sale of Property in Coon Rapids, Minnesota

by Channing Hamilton

COON RAPIDS, MINN. — Marcus & Millichap has arranged the $7.3 million sale of Crest Oak Apartments, a 60-unit property in Coon Rapids, roughly 15 miles north of Minneapolis. Built in 1972, Crest Oak Apartments offers a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the seller, which was disposing of a four-building portfolio. The asset sold to a 1031 exchange buyer.

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The Welz in New York City
DevelopmentNew YorkNewsNortheast

Slate, Avenue Realty Capital Deliver 19-Story Brooklyn Community

by Channing Hamilton

NEW YORK CITY — A joint venture between Slate Property Group and Avenue Realty Capital has completed The Welz, a 19-story, 162-unit community in the Williamsburg neighborhood of Brooklyn. Located at 159 Boerum St., the property offers a mix of studio, one- and two-bedroom units. Monthly rates start at $3,175 for a studio. Additionally, 49 residences have been set aside as affordable housing for residents earning between 60 to 130 percent of the area median income. Each unit features washers and dryers, a dishwasher, microwave, quartz countertops and stainless steel …

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4117 E Concours St. in Ontario, California
CaliforniaDevelopmentFinanceNewsWestern

Adept Urban Development Receives $107 Million Construction Financing for Mixed-Use Development in Ontario, California

by Channing Hamilton

ONTARIO, CALIF. — Adept Urban Development has received $107 million in financing for the construction of a 384-unit community in Ontario, about 40 miles east of Los Angeles. The project is located at 4117 E Concours St., adjacent to the Toyota Arena, and will also feature 26,000 square feet of retail space. A development timeline was not disclosed. Stefen Chraghchian of Marcus & Millichap Capital Corp. arranged the financing through Affinius Capital and Bank OZK.

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