News

DALLAS — IPA Capital Markets, a division of Marcus & Millichap, has hired Harry Krieger to the position of managing director. In this new role, Krieger will be responsible for placing debt for institutional clients. He will be based in Dallas but part of the firm’s Los Angeles-based IPA Capital Markets team, which is led by Brian Eisendrath and Cameron Chalfant. He will collaborate with the firm’s Texas-based IPA multifamily investment sales team — led by Drew Kile and Will Balthrope — to provide clients with capital markets services. Krieger …

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AUSTIN, TEXAS — LV Collective has hired Alex Perkins as president of multifamily. In this role, he will define and execute the Austin, Texas-based firm’s multifamily platform, overseeing strategy, development, capital markets, operations and asset management. Prior to joining LV Collective, Perkins served as a director for Greystar Development and Construction Services. He is a member of the advisory council for the University of Texas Real Estate Center, where he advises on program strategy and curriculum design.

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The Pines at Q Plaza Apartments in Omaha, Nebraska

OMAHA, NEB. — CBRE has secured a loan for the refinancing of The Pines at Q Plaza Apartments, a 505-unit community in Omaha. John Larsen of CBRE Capital Markets’ Debt and Structured Finance team in Omaha secured the 10-year, full-term interest-only loan through Freddie Mac. The total loan amount was not disclosed. The company purchased the property in 1985 and will use a portion of the loan to renovate the common areas of all units. The Pines at Q Plaza is located at 8633 Q Plaza. Built in 1974, the …

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329 East 9th Street in New York City

NEW YORK CITY — Marcus & Millichap has arranged the $38 million sale of a six-building portfolio in Manhattan’s East Village neighborhood. The portfolio consists of 56 apartments and five commercial units across 49,513 square feet. Apartments come in one- through six-bedroom floor plans. The properties included in the portfolio are 329-335 East 9th Street and 516-518 East 13th Street. Edifice Partners/Holliswood and JSB Capital Group purchased the assets from The Kushner Cos. for $38 million. Joe Koicim, Logan Markley, Matt Berger and Zan Colin of the NYM Group of …

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Hamilton Cove in Costa Mesa, California

COSTA MESA, CALIF. — CBRE has arranged the sale of Hamilton Cove, a 15-unit community located at 560 Hamilton Street in Costa Mesa, roughly 17 miles south of Anaheim. The asset traded hands for $5.6 million. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE Multifamily SoCal Team represented the buyer and the seller in the deal. Both parties were based in Newport Beach and repeat clients of CBRE. The sale marks the team’s eighth transaction in Costa Mesa in the past year. Built in 1964, Hamilton Cove comprises 9,372 …

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Authentix South Elgin in South Elgin, Illinois

SOUTH ELGIN, ILL. — Continental Properties has broken ground on Authentix South Elgin, a 336-unit development in South Elgin, approximately 45 miles west of Chicago.  Authentix South Elgin will offer studio, one-, two-, and three-bedroom floor plans. Amenities include a pool, clubhouse, outdoor grill area, fitness center and a leash-free dog park with a pet spa. Pre-leasing is slated to commence in the spring of 2025. Move-ins will begin once the community clubhouse and first residential building are completed in late summer 2025. The property is located at the corner …

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WOODLAND PARK, N.J. — Locally based development and investment firm Prism Capital Partners will undertake a redevelopment project in Woodland Park, roughly 14 miles north of Newark, New jersey. Jose Cruz, Jeremy Neuer and Ryan Robertson of JLL represented the undisclosed seller in the disposition of the site. The developer plans to convert a 33-acre former office campus at 385 Rifle Camp Road into a 400-unit apartment community. Twenty percent (80 residences) of units will be set aside as affordable housing. Demolition work is currently underway, but a target completion …

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Wheelock Parkway Apartments in St. Paul, Minnesota

ST. PAUL, MINN. — Marcus & Millichap has brokered the sale of Wheelock Parkway Apartments, a 103-unit community located at 1609 N. Woodbridge St. in St. Paul, for an undisclosed price. Wheelock Parkway Apartments was built between 1965 and 1967. The property comprises 44 one-bedroom and 59 two-bedroom units across 85,580 square feet of rentable space. Amenities include a pool, laundry facilities, picnic areas, a walking path and playground. Chris Collins, Evan Miller, Eric Wagner, Matthew Shide and Zack Olson of Marcus & Millichap represented the seller, a Minnesota-based limited …

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PEARLAND, TEXAS — Eastham Capital has partnered with Mosaic Residential to acquire Amber Oaks and Park Place, two adjacent communities totaling 164 units in Pearland, about 20 miles south of downtown Houston. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI LP. The acquisition price was not disclosed.  Amber Oaks was built in 2015 and is located at 3340 E Walnut Street. The property consists of 63 units spread across two three-story buildings. The unit mix includes 16 one-bedroom and 47 two-bedroom apartments. The …

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LAKE CHARLES, LA. — Clearwater, Florida-based Churchill Stateside Group LLC has closed $47.7 million in construction financing for Deerwood Apartments, a 144-unit affordable housing project in Lake Charles, 75 miles west of Lafayette, Louisiana. Once complete, Deerwood Apartments will offer a mix of 18 one-bedroom, 84 two-bedroom and 42 three-bedroom apartments. A construction timeline and developer were not disclosed. The financing package included $21.5 million of short-term, tax-exempt bonds through Churchill Stateside Securities LLC; a $20.8 million construction loan through Churchill Mortgage Construction LLC; a $4.8 million forward tax-exempt permanent …

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