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Jalen Lofts in Trotwood, Ohio
DevelopmentFinanceMidwestNewsOhio

KeyBank Provides $23 Million in Construction Financing for Affordable Housing Community in Trotwood, Ohio

by Channing Hamilton

TROTWOOD, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided $23 million in financing for the construction of Jalen Lofts in Trotwood, roughly 8 miles northwest of Dayton, Ohio. Derek Reed and David Lacki of KeyBank CDLI structured the financing, which includes a $9.8 million construction loan, a $3.7 million permanent loan and $9.4 million in low-income housing tax credit financing.  Jalen Lofts will feature 66 workforce and affordable housing units, which will be available to families who earn between 30 and 80 percent of the area median …

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CityLine East in Jersey City, New Jersey
FinanceNew JerseyNewsNortheast

The PRC Group Receives $68.5 Million for Refinancing of Two Communities in Jersey City

by Channing Hamilton

JERSEY CITY, N.J. — The PRC Group has received four loans totaling $68.5 million for the refinancing of CityLine East and West, two communities totaling 342 units in Jersey City. John Banas and Kris Wood of Northmarq arranged the debt on behalf of the borrower. All loans carried fixed interest rates. The direct lenders were not disclosed. Northmarq arranged a $34 million senior loan and an $8 million mezzanine loan for CityLine East, which was completed in 2021 and comprises 198 apartments. Additionally, Northmarq placed a $21.5 million senior loan …

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Harvard Avenue Apartments in Brookline, Massachusetts
Investment SalesMassachusettsNewsNortheast

Pine Realty Associates Sells Suburban Boston Complex for $10 Million

by Channing Hamilton

BROOKLINE, MASS. — Pine Realty Associates has sold Harvard Avenue Apartments, a 24-unit property located at 48-50 Harvard Ave. in Brookline, roughly 6 miles west of downtown Boston. Built in 1950, Harvard Avenue Apartments features studio and one-bedroom units. Residents have access to off-street parking and an on-site laundry facility. Matthew Pierce of Marcus & Millichap’s Boston office marketed the property on behalf of the seller and procured the buyer, a private investor. Additionally, Robert Damigella of Marcus & Millichap Capital Corp. arranged $3.3 million in acquisition financing through a …

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Lindsey Manor Apartments in Kernersville, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

Gindi Equities Sells Community in Kernersville, North Carolina, for $34 Million

by Channing Hamilton

KERNERSVILLE, N.C. — Gindi Equities has sold Lindsey Manor Apartments in Kernersville, 10 miles east of Winston-Salem, North Carolina, to an undisclosed buyer for $34 million. Located at 472 Lindsey St. near downtown Kernersville, Lindsey Manor Apartments consists of 222 units in one- two- and three-bedroom configurations.  Gindi Equities originally acquired the asset in October 2021 for $24.5 million. The company completed a series of renovations at the property, including updates to apartment interiors, complete reroofing, new dog park and grilling area and upgrades to the pool and playground. This transaction …

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DevelopmentFloridaNewsPeople NewsSoutheast

Hillpointe Appoints Jamie Telchin as Vice President of Development

by Channing Hamilton

WINTER PARK, FLA. — Winter Park-based development and investment management firm Hillpointe has appointed Jamie Telchin to the position of vice president of development. In this role, Telchin will lead the development team for Hillpointe’s Pointe Grande for-rent and for-sale communities. Prior to joining Hillpointe, Telchin was senior managing director at Waypoint Residential, a developer and investment manager headquartered in Boca Raton, Florida. Additionally, he served as an executive vice president of development at LXR, an affiliate of The Blackstone Group. He received an MBA from the University of Colorado at …

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Blankenbaker Crossings in Louisville, Kentucky
Investment SalesKentuckyNewsSoutheast

Morgan Properties Purchases Blankenbaker Crossings in Louisville, Kentucky, for $39 Million

by Channing Hamilton

LOUISVILLE, KY. — Conshohocken, Pennsylvania-based Morgan Properties has purchased Blankenbaker Crossings, a 236-unit property in Louisville, for $39 million. Built between 2005 and 2006, the garden-style community was 96 percent occupied at the time of sale. The new ownership plans to invest $2.1 million to add new amenities to the community, including a pickleball court, dog parks and Amazon package hubs. Additionally, units will be updated with kitchen and bath renovations, new washers and dryers and smart technology features. Craig Collins and Mike Kemether of Cushman and Wakefield brokered the …

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Equinox Apartments in St. Anthony, Minnesota
Investment SalesMidwestMinnesotaNews

ARTISAN Capital Group, Eastham Capital Acquire 266-Unit Equinox Apartments in Suburban Minneapolis

by Channing Hamilton

ST. ANTHONY, MINN. ­— A partnership between ARTISAN Capital Group and Eastham Capital has purchased Equinox Apartments, a 266-unit property in St. Anthony, about 5 miles north of Minneapolis. Fannie Mae provided an undisclosed amount of financing for the acquisition. Built in 1974 on 17.5 acres, Equinox Apartments features a mix of 151 one-bedroom and 115 two-bedroom apartments. Each unit includes a walk-in closet and patio or deck. Amenities include a clubhouse with entertainment space, indoor and outdoor pools, a fitness center, grilling area, dog park, playground and detached parking …

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Northbend apartments in Tempe
ArizonaDevelopmentNewsWestern

Construction Wraps on Northbend in Tempe

by Lynn Peisner

TEMPE, ARIZ. — McShane Construction and developers Banyan Residential and Milhaus have completed development of Northbend, a 310-unit property in Tempe. The garden-style community was designed by Todd & Associates, a Phoenix-based architecture firm. Northbend features a 4,300-square-foot clubhouse, a resort-style pool, a fitness center with a yoga studio, a courtyard with firepits and a dog park.

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One Seven at Belleview Station in Denver
ColoradoFinanceNewsWestern

Trammell Crow, Cigna Secure $75 Million Refinance Loan for Denver Asset

by Lynn Peisner

DENVER — JLL Capital Markets has arranged a $75 million loan through a national life insurance company for Trammel Crow and Cigna. The joint-venture partnership will use the funds to pay off the original construction loan for One Seven at Belleview Station in Denver. The 250-unit, mixed-use property includes 7,062 square feet of retail. It opened in 2023 and is currently 69 percent leased. One Seven Belleview Station has a roof-top pool, remote work center, clubroom, wellness center, bike storage, pet spa and a theater room. Units are offered as …

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District by Windsor in Denver
ColoradoInvestment SalesNewsWestern

JLL Arranges District by Windsor Sale in Denver

by Lynn Peisner

DENVER — GID has sold The District by Windsor in Denver to Chicago-based Mesirow Financial. Atlanta-based GID owns and operates approximately 55,000 units throughout the United States. The District by Windsor is a 276-unit property built in 2007. The sales price was not disclosed, but some media outlets are reporting the asset traded for $91 million. JLL represented GID and procured Mesirow Financial as the buyer. The District by Windsor, which consists of three buildings, features a resort-style pool, a fitness center and electric vehicle charging stations.

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