ROSWELL, GA. — Sagard Real Estate, a Denver-based investment firm, has acquired Grande Oaks, a 270-unit property in Roswell, 22 miles north of downtown Atlanta. Grande Oaks was constructed in 1996 on a 19-acre site. The garden-style community spans roughly 311,000 rentable square feet across 11 residential buildings. Community amenities include a clubhouse, fitness center, pool, outdoor fireplace, grill and picnic area, children’s playground and car wash. Residents also have access to pet-friendly amenities such as a dog park and pet wash station. Sagard Real Estate will execute a value-add renovation …
AUBREY, TEXAS — Texas-based investment firm SPI Advisory has purchased Encore 380, a 416-unit community in Aubrey, roughly 50 miles north of Fort Worth, Texas. Eastdil Secured represented the undisclosed seller in the transaction. The property was originally built in 2017 as Century 380. Encore 380 offers a mix of one-, two-, three- and four-bedroom units featuring stainless steel appliances, granite countertops, kitchen islands and washer/dryer connections. Select residences also include private yards. Amenities include a pool, fitness center, clubhouse, playground, computer lounge, dog park, package lockers and outdoor grilling …
WASHINGTON, D.C. — William Pulte, director of the United States Federal Housing Finance Agency (FHFA), has replaced several members of the governing boards of government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. The removals were announced through regulatory filings with the Securities and Exchange Commission (SEC) on March 17. According to The Wall Street Journal, Pulte removed eight members of the board of Fannie Mae. The removed board members were Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig. Additionally, Pulte appointed Clinton Jones, …
CHICAGO — Kiser Group has arranged the $8 million sale of a portfolio of two apartment buildings located near the University of Chicago. The portfolio consists of 5111 S. University Ave. (41 units) and 5135 S. Blackstone Ave. (36 units). The properties feature a mix of studio and one-bedroom units. The portfolio was 98 percent leased at the time of sale. Lee Kiser, Kyle Sissell and Will Cornish of Kiser represented the seller, TLC Management, while Katie LeGrand and Jacob Price of Kiser represented the buyer, Harbor Property Management LLC.
ATLANTA — Vida is raising an equity fund to build two multifamily properties and one build-to-rent community in suburban Atlanta. The Atlanta-based developer has completed its seed funding round on the $47 million fund, which is entitled Vida Opportunities Fund I LLC. Vida is developing GuildHouse at 2085 Marietta Blvd. in the Upper Westside neighborhood of Atlanta. The unit mix at GuildHouse will include 354 apartment units, as well as 39 build-to-rent townhomes. Apartments will range from 550 to 1350 square feet. Townhomes will rise three stories and come in three-bedroom …
LEHI, UTAH — Wood Partners has begun construction on Alta Vista, a 304-unit development in Lehi, about 30 miles south of downtown Salt Lake City. The property will offer a mix of one-, two- and three-bedroom apartments. Alta Vista will also feature roughly 8,000 square feet of amenity space, including a clubhouse, entertainment kitchen, coworking space, fitness center, speakeasy and an outdoor pool, spa and kitchen. The development will also add a trail system through the adjacent park, which will feature a playground, pickleball courts and a basketball court. The …
LEWES, DEL. — Lument has arranged a $14 million commercial mortgage-backed security (CMBS) loan for the refinancing of Mi-Place at Vineyards, a 41-unit mixed-use asset situated along the Delaware Bay in Lewes. The developer and borrower is Fernmoor. The CMBS loan has a fixed interest rate and five-year term. It replaces existing debt from a local bank. Ben Retter of Lument negotiated the financing. Mi-Place at Vineyards is part of a master-planned community that includes apartments, condominiums, for-sale carriage homes and townhouses. The property also includes 65,000 square feet of …
WEST BEND, WIS. — Hendricks Commercial Properties has sold Cast Iron Luxury Living, a 129-unit community in West Bend, about 39 miles northwest of Milwaukee. The community offers a range of studio through three-bedroom units. Amenities include a business center, club and media room, garage parking, car spa and a self-service canteen convenience shop. The property was formerly home to The West Bend Co., a cookware and appliance manufacturer that had occupied the site since 1911. The asset was renovated in 2015 and converted into a mixed-use community in 2017. …
DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story asset located at 1740 Fasana Road in Duarte, 20 miles northeast of Los Angeles. The community offers 292 units in studio, one-, two-, three- and four-bedroom floor plans. Apartments range from 534 square feet to 2,802 square feet. Select units feature private patios or balconies and walk-in closets. Tenants have access to shared amenities such as a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, cabana club and dog lounge, spa and park. …
VIRGINIA BEACH, VA. — Bonaventure has acquired Solace Apartments, a 250-unit property located at 400 S. Military Highway in Virginia Beach, 18 miles east of Norfolk, Virginia. Built in 2014, Solace offers one- and two-bedroom apartments. Amenities include a pool, fitness center, grilling stations and a community clubhouse. The acquisition was made as an UPREIT transaction, an investment strategy where property owners contribute real estate to a REIT’s operating partnership in exchange for ownership interest in that partnership. Robert Prodan served as a contributor with Bonaventure’s REIT, Bonaventure Multifamily Income …