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Palladium Park Row Katy Living in Houston
DevelopmentNewsTexas

Palladium USA Breaks Ground on $33 Million Development in Houston

by Channing Hamilton

HOUSTON — Palladium USA has begun the construction of Palladium Park Row Katy Living, a $33 million project in Houston. Once completed, the property will feature 93 units in one-, two- and three-bedroom layouts. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium USA expects to deliver the first units, as well as the clubhouse, in December 2025. Pre-leasing is slated to begin in the fall of 2025. The development is the result of a public-private partnership …

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Laguna Terrace in Laguna Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $5.1 Million Sale of 12-Unit Property in Laguna Beach, California

by Channing Hamilton

LAGUNA BEACH, CALIF. — CBRE has arranged the sale of Laguna Terrace, a 12-unit property located at 2200 S. Coast Highway in Laguna Beach, roughly 25 miles south of Anaheim, California. The asset traded hands for $5.1 million. Built in 1939, Laguna Terrace consists of four separate buildings across three adjacent lots totaling 0.5 acres. The unit mix includes 10 studios and two one-bedroom apartments. The total rentable space is 4,664 square feet. The community features laundry facilities, three separate storage rooms and a community shower and bathroom. The property …

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Affordable HousingInvestment SalesNewsNortheast

Ariel Property Advisors Brokers $31.5 Million Sale of Affordable Housing Asset in Harlem

by Channing Hamilton

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $31.5 million sale of an affordable housing building located at 34 W. 139th St. in the Harlem neighborhood of Upper Manhattan. Built in 2007, the property consists of 127 apartments. Victor Sozio, Shimon Shkury, Remi Mandell and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the deal. Income restrictions for the property, as well as the identity of the buyer, were also not disclosed.

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Novel River District in Charlotte, North Carolina
DevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Breaks Ground on 318-Unit Novel River District in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Locally based developer Crescent Communities has broken ground on Novel River District, a 318-unit community in Charlotte. UMB Bank provided an undisclosed amount of construction financing for the project. The community will feature a mix of studio, one- and two-bedroom apartments. Move-ins are slated to begin in early 2026. Novel River District will be the first apartment community within The River District, a 1,400-acre master-planned development that will offer 2,350 apartments and 2,300 single-family homes at full build-out. Crescent Communities is also the developer for The River District. …

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FinanceFloridaInvestment SalesNewsPeople NewsSoutheast

Hillpointe Appoints Chip Wooten as Senior Vice President

by Channing Hamilton

WINTER PARK, FLA. — Hillpointe, a developer headquartered in Winter Park, has appointed Chip Wooten to the role of senior vice president of debt capital markets and asset sales. In this position, Wooten will manage Hillpointe’s portfolio of multifamily developments. He will also be responsible for overseeing debt origination and asset sales at the company. Prior to joining Hillpointe, Wooten served as a first vice president with CBRE’s Institutional Multifamily Group. He began his career as a research analyst and transitioned to business development while working for two institutional investment …

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The Gardens in Fort Lauderdale, Florida
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $6.1 Million Sale of The Gardens in Fort Lauderdale, Florida

by Channing Hamilton

FORT LAUDERDALE, FLA. — Marcus & Millichap has arranged the sale of The Gardens, a 24-unit property in Fort Lauderdale. Built in 1966, The Gardens is a 28,587-square-foot asset located at 2190 NE 51st Court. Units come in one- and two-bedroom layouts. The property traded hands for $6.1 million. Austin Michels, Brandon Rex and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office procured the undisclosed local buyer. The identity of the seller was also not disclosed.

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Ventura Ridge in San Antonio
FinanceNewsTexas

Rosewood Property Co. Receives Refinancing for 482-Unit Ventura Ridge in San Antonio

by Channing Hamilton

SAN ANTONIO — Rosewood Property Co. has secured a loan for the refinancing of Ventura Ridge, a 482-unit property located at 5602 Presido Parkway in San Antonio. John Brownlee, John Bauman and Scott Cole of JLL Capital Markets arranged the financing through New York Life. Built in 2015, Ventura Ridge spans 406,759 square feet across four stories. The community offers a mix of one-, two- and three-bedroom apartments with an average size of 844 square feet. Units feature 10-foot ceilings, walk-in closets, patios and balconies, Wi-Fi-connected thermostats, kitchen islands, granite countertops and Bluetooth …

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Arden Townhomes in Warrenville, Illinois
FinanceIllinoisMidwestNews

Cantera Townhomes Secures $25 Million Financing for Arden Townhomes Near Chicago

by Channing Hamilton

WARRENVILLE, ILL. — Cantera Townhomes LLC has received $25 million for the refinancing of Arden Townhomes, a 60-unit townhome community located in the Cantera neighborhood of Warrenville, about 30 miles west of Chicago. Situated at 28291-28417 Torch Parkway, Arden Townhomes offers three-bedroom units averaging 1,898 square feet. The asset was recently built in 2024. JLL represented the borrower in securing the $20 million, two-year, floating-rate senior loan through an entity managed by Argentic Investment Management LLC. Pearlmark provided an additional $5 million in mezzanine financing. Trent Niederberger and Philip Galligan …

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Avalon Townhomes at Bee Cave in Bee Cave, Texas
Investment SalesNewsTexas

AvalonBay Communities Acquires 126-Unit Townhome Community Near Austin, Texas

by Channing Hamilton

BEE CAVE, TEXAS — AvalonBay Communities has acquired Brisa Townhomes, a townhome community located at 4810 Brisa Way in Bee Cave, approximately 15 miles west of Austin. Patton Jones and Andrew Dickson of Newmark Multifamily Capital Markets represented the undisclosed seller in the deal. The sales price was also not disclosed. Brisa Townhomes was built on 17 acres in 2022. The two-story community offers three- and four-bedroom units. Each townhome includes a direct access, two-car garage. Residents have access to amenities such as a pool, outdoor kitchen with grills, private conference room, fitness …

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Affordable HousingDevelopmentNewsTexas

LEDG Capital Completes $12 Million Renovation of Affordable Housing Community in Lubbock, Texas

by Channing Hamilton

LUBBOCK, TEXAS — Seattle-based LEDG Capital has completed the $12 million renovation of Southstead, a 244-unit mixed-income property in Lubbock. Southstead was constructed in phases in the 1970s. The community consists of 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the total unit count, 100 are available at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital renovated the community with new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months. According …

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