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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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Lakeshore at Preston Apartments in Plano, Texas
Affordable HousingInvestment SalesNewsTexas

Comunidad Partners Purchases 302-Unit Affordable Housing Asset in Plano, Texas

by Channing Hamilton

PLANO, TEXAS — Comunidad Partners, an Austin, Texas-based investment firm that specializes in affordable and workforce housing, has acquired Lakeshore at Preston Apartments in Plano, 20 miles north of Dallas. CBRE represented Comunidad Partners and the seller, Chicago-based Waterton, in the transaction. Lakeshore at Preston Apartments consists of 302 apartments in one- and two-bedroom floor plans. The community is reserved for households earning 80 to 100 percent of the area median income. Amenities include a pool, lounging areas, pickleball court and beach volleyball courts.

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Altis Grand Lake Willis in Orlando, Florida
DevelopmentFloridaNewsSoutheast

Altman Living Completes 230-Unit Altis Grand Lake Willis in Orlando, Florida

by Channing Hamilton

ORLANDO, FLA. — Altman Living has opened Phase II of Altis Grand Lake Willis, a 230-unit community located at 6260 Juniper Pine Way in Orlando’s O-Town West neighborhood. The second phase is situated adjacent to Phase I of the community, which opened in 2023. The garden-style property offers one-, two- and three-bedroom apartments ranging from 707 to 1,248 square feet. Community amenities include a resident and business lounge, pool, pet park, cyber café, steam rooms, movie theater, virtual gaming space, private sports simulator and outdoor entertainment zone with a fireplace, …

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Investment SalesNewsTexas

Blue Ocean Real Estate Buys 184-Unit Villa Ladera Apartments in Dallas

by Channing Hamilton

DALLAS — Blue Ocean Real Estate has acquired Villa Ladera, a 184-unit complex in Dallas. Built in 1972, Villa Ladera features one- and two-bedroom apartments, as well as on-site laundry facilities. Chris Deuillet and Matthew Pastrano of CBRE represented the undisclosed seller and procured the buyer in the deal. Josh Berde, Andrew Woertendyke and Peyton Chur, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal through an unnamed lender.

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Summit Crossing in Kansas City, Missouri
DevelopmentMidwestMissouriNews

MLG Capital Purchases 336-Unit Community in Kansas City, Missouri

by Channing Hamilton

KANSAS CITY, MO. — MLG Capital has acquired Summit Crossing, a garden-style property in Kansas City. Built in phases and completed in 2019, the community features 336 apartments and townhomes. Approximately 60 percent of units are townhomes with attached garages. Residents have access to shared amenities such as two pools, a clubhouse, fitness center, business center and pickleball courts.

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Park 12 Apartments in San Diego
CaliforniaInvestment SalesNewsWestern

MG Properties Acquires Park 12 in San Diego for $309 Million

by Channing Hamilton

SAN DIEGO — MG Properties has acquired Park 12 Apartments, a 35-story high-rise property located in downtown San Diego, for $309 million. The property is situated adjacent to Petco Park, home of the San Diego Padres Major League Baseball team, within the Ballpark Village master planned community. Built in 2018, Park 12 offers a mix of studio, one-, two- and three-bedroom units, including penthouse units with exclusive access to a lounge on the 32nd floor. Shared amenities include pools with poolside event space, a fitness center, golf simulator and putting …

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2868 Webster Ave. in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

Douglaston Development Breaks Ground on Affordable Housing Project in the Bronx

by Channing Hamilton

NEW YORK CITY — Douglaston Development has broken ground on an affordable housing development located at 2868 Webster Ave. in the Bedford Park neighborhood of the Bronx. The 12 story building will consist of 277 units in studio, one-, two- and three-bedroom floor plans. The community will be available to households earning up to 70 percent of the area median income. Sixty units will be set aside as supportive housing. The project represents the second phase of a two-phase development, which also includes a 188-unit seniors housing complex that opened …

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The Willows in Houston
Investment SalesNewsTexas

Greysteel Arranges Sale of 346-Unit Property in Houston

by Channing Hamilton

HOUSTON — Greysteel has arranged the sale of The Willows, a 346-unit property in Houston. According to the community website, The Willows offers one-, two- and three-bedroom units. Amenities include a pool, playground, coffee bar and four laundry facilities. The seller, a private REIT, owned the community for approximately two decades prior to the acquisition. The buyer, whose identity was not disclosed, plans to enhance operational efficiencies and conduct a renovation program at the community. Jack Stone and Chris Castillo of Greysteel brokered the deal.

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ColoradoInvestment SalesNewsWestern

Bell Partners Acquires Two Communities in Metro Denver for $185.8 Million

by Channing Hamilton

PARKER AND LAFAYETTE, COLO. — Bell Partners has acquired Bell Parker and Bell Lafayette, two assets located in the Denver metropolitan area. The company purchased the assets in separate transactions on behalf of its Bell Value-Add Fund VIII for a total of $185.8 million. Completed in 2002, Bell Parker is a 360-unit garden-style property located at 16950 Carlson Drive in Parker, roughly 25 miles southeast of downtown Denver. Bell Partners purchased the asset from Starwood Real Estate Income Trust for $103.3 million. JLL acted as the broker. Built in 2016, …

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