NEW YORK CITY — A&E Real Estate has acquired Rivers Bend, a 22-story apartment building located on Manhattan’s Upper East Side, for $116.5 million. Jack Brick of S. Charatan Realty represented the seller, locally based investment firm Soloviev Group, in the transaction. The building, which was originally built in 1963, rises 22 stories at 501 E. 87th St. The property is doorman- and elevator-served. Select units feature private balconies or patios, and tenants have access to amenities such as a rooftop terrace with an enclosed pool and a fitness center.
JERSEY CITY, N.J. — The Hekemian Group has secured financing for the construction of Coles Street Apartments, a 465-unit high-rise community in downtown Jersey City. Located at 305 Coles St., Cole Street Apartments will offer studio, one- and two-bedroom apartments. The average unit size will be 875 square feet. Residents will have access to amenities such as a rooftop pool and lounge, golf simulator, clubrooms, work lounges, a fitness center, concierge service and on-site garage parking. The development will also include 8,142 square feet of ground-level retail space. Thomas Didio, Thomas Didio Jr., Gerard …
LYNNWOOD, WASH. — Kōz Development and MSquared have opened Kōz on Alderwood Mall Blvd, a mixed-income community located at 301 Alderwood Mall Blvd. in Lynnwood, 17 miles south of Seattle. The property offers 199 studio, one-bedroom and two-bedroom floor plans. Half of the units are reserved for households earning up to 80 percent of the area median income, while the other half are leased at market rate. The $54 million project is situated adjacent to the Lynnwood Transit Center, the northern terminus of the Sound Transit Link rail extension connecting …
CHICAGO — Newmark has arranged a $110 million loan for the refinancing of Cityfront Place, a 39-story apartment tower situated in the Streeterville neighborhood of downtown Chicago. The borrowers, Strategic Properties of North America and Mirae Asset Securities, acquired the 480-unit property in 2020. Cityfront Place features a mix of studio, one- and two-bedroom apartments. Residents have access to amenities such as a fitness center, indoor pool, rooftop terrace, resident lounge and indoor parking, as well as direct access to the Riverwalk. Strategic Properties of North America and Mirae Asset …
AUSTIN — Trammell Crow Company (TCC) has hired Sean Wolff as a senior vice president. Wolff will be responsible for sourcing and overseeing new development opportunities for High Street Residential (HSR), the multifamily development subsidiary of TCC. He will report to Brad Maples, managing director and market leader of TCC Austin. Wolff joins HSR from Slate Real Estate Partners in Austin, where he most recently served as a managing director. Wolff has also held positions at Holliday Fenoglio Fowler and Oden Hughes. He received a Bachelor of Arts from The …
CHARLOTTE, N.C. — Rosewood Property Co., a Dallas-based investment and development company, has opened a new office in Charlotte. Additionally, the company hired Caci Jaeger to lead the new office as senior vice president of Carolinas. In her new role, Jaegar will manage and direct multifamily development activities throughout the region. She will also oversee the office’s operations and staff. Jaeger previously served as a partner with Charlotte-based Cedar Square. She has also held positions with LCOR Inc. and Corebridge. She earned her undergraduate degree in urban studies from Brown …
SAN DIEGO — Locally-based Naturally Affordable Housing has received $10.1 million in construction takeout financing for North Park Nest, a 39-unit property located at 4233 Kansas St. in San Diego’s North Park neighborhood. The community features a mix of studio and one-bedroom apartments. The average unit size is 486 square feet. Amenities include a rooftop deck with a barbeque and lounge area. Brad Vansant and Ben Choromanski of JLL Capital Markets represented the borrower in arranging the short-term, floating rate bridge loan.
KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed Reserve at Kingwood East, a 181-unit development in Kingwood, about 27 miles north of Houston. The project, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents Phase II of a larger development. The first phase comprised 240 apartments and 49 townhomes and was recently completed in April 2024. Units come in one-, two- and three-bedroom floor plans. The average apartment size is 1,046 square feet, …
CHICAGO — Habitat, a developer and property manager based in Chicago, has promoted Wendy Deetjen to vice president of the firm’s national market-rate portfolio. In this role, she will oversee Habitat’s portfolio of communities across the Chicago, Detroit and Minneapolis metropolitan areas. The portfolio totals roughly 4,500 market-rate units. Deetjen joined Habitat as a regional manager in 2017. Most recently, she served as senior regional manager. Prior to joining Habitat, Deetjen was area vice president with The Laramar Group and a regional manager with Lincoln Property Co. She received a …
CAMDEN, N.J. — Camden-based owner, operator and developer The Michaels Organization has hired Mark Biancucci to the newly created position of deputy chief financial officer. Most recently, Biancucci was the chief financial officer at Lendlease, where he oversaw financial strategies for the company’s investment management, development, construction and military housing portfolio. Prior to joining Lendlease, he held senior finance roles at a private real estate firm.