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Kenyon at Cross Creek in Central, South Carolina
Affordable HousingDevelopmentNewsSouth CarolinaSoutheast

Gateway Opens $40 Million Affordable Housing Project in Central, South Carolina

by Channing Hamilton

CENTRAL, S.C. — Gateway Development Corp. has opened Kenyon at Cross Creek, a $40 million affordable housing development in Central. Gateway partnered with Synovus Bank (construction lender and federal tax credit equity investor), Monarch Private Capital (state credit investor) and Bellwether Enterprises (permanent lender), to complete the project. The Kenyon at Cross Creek was one of the first non-metro communities developed with the South Carolina state housing credit, according to Gateway. The project consists of 168 units across seven three-story residential buildings. Units come in one-, two- and three-bedroom layouts …

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Fielder’s Glen in Arlington, Texas
Investment SalesNewsTexas

Marcus & Millichap Brokers Sale of 220-Unit Fielder’s Glen in Arlington, Texas

by Channing Hamilton

ARLINGTON, TEXAS — Marcus & Millichap has negotiated the sale and financing of Fielder’s Glen, a 220-unit asset in Arlington. Rise48 Equity purchased the asset from Western Wealth Capital for an undisclosed price. Fielder’s Glen offers studio, one- and two-bedroom units. Amenities include a pool, barbeque and picnic area, laundry facilities and a fitness center.  Al Silva and Ford Braly of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller and procured the buyer. Brandon Brown with Marcus & Millichap Capital Corp. arranged acquisition financing.

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GeorgiaInvestment SalesNewsSoutheast

Cushman & Wakefield Arrange Sale of 362-Unit The Flats at Westshore in Cumming, Georgia

by Channing Hamilton

CUMMING, GA. — Cushman & Wakefield have brokered the sale of The Flats at Westshore, a 362-unit community in the Atlanta suburb of Cumming. The Flats at Westshore was built in 2022 and is situated within the Westshore Town Center, a 20,000-square-foot retail center. Weinstein Properties acquired the asset from Atlantic Residential for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the seller in the transaction.

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Gateway at Rossville in Rossville, Georgia
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Gateway Opens 156-Unit Workforce Housing Community in Rossville, Georgia

by Channing Hamilton

ROSSVILLE, GA. — Gateway Development Corp., an affiliate of Gateway Management Co., have opened Gateway at Rossville, a 156-unit workforce housing community located in the Chattanooga, Tennessee suburb of Rossville. Arlington Construction served as the general contractor. Valdosta, Georgia-based Studio 8 Design was the architect. Situated on 18 acres, Gateway at Rossville is available to households earning at or below 60 percent of the area median income. Amenities include a clubhouse with gathering spaces, pool, fitness center, computer room, playground and covered pavilion with a picnic area. The construction of …

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DevelopmentFinanceNewsTexas

Colliers Mortgage Provides $32.9 Million Construction Financing for Deer Park Apartments in Decatur, Texas

by Channing Hamilton

DECATUR, TEXAS — Colliers Mortgage has closed a $32.9 million HUD loan to facilitate the construction of Deer Park Apartments in Decatur, about 40 miles north of Fort Worth. Fritz Waldvogel arranged the financing through a partnership with Old Capital Lending. The loan carries a 40-year term and amortization. The borrower was Deer Park Apts QOZB LLC. Deer Park Apartments features 204 apartments in one-, two- and three-bedroom floor plans. Amenities include a fitness center, business center, community room, pool, mail center, billiards room, outdoor lounge area, outdoor grills and …

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Jones & Rio in San Antonio
Investment SalesNewsTexas

JLL Capital Markets Brokers Sale of 191-Unit Jones & Rio in San Antonio

by Channing Hamilton

SAN ANTONIO — JLL Capital Markets has arranged the sale of Jones & Rio, a 191-unit asset located in River North mixed-use district in San Antonio. Robert Arzola, Ryan McBride and Robert Wooten led the Investment Sales and Advisory team representing the seller, Benefit Street Partners. Jones & Rio was built in 2017. According to the property website, amenities include a pool, lounge, fitness center, coffee bar and package system. 

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FinanceInvestment SalesNew JerseyNewsNortheast

BridgeInvest Provides $34.5 Million Acquisition Financing for The Pennington in Passaic, New Jersey

by Channing Hamilton

PASSAIC, N.J. — BridgeInvest has provided a $34.5 million loan to The Birch Group to finance the acquisition of The Pennington, a 147-unit property in the New York City suburb of Passaic. The Pennington is situated on 3.6 acres at 119-231 Pennington Ave. Amenities include a community room, children’s playroom and male and female gyms. According to the property website, units come in studio, one-, two- and three-bedroom layouts.

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Rock Ridge Commons in Moline, Illinois
IllinoisInvestment SalesMidwestNews

Partnership Acquires 216-Unit Rock Ridge Commons in Moline, Illinois

by Channing Hamilton

MOLINE, ILL. — A partnership consisting of ARTISAN Capital Group, Ballast Real Estate Partners and Boulder Venture has acquired Pheasant Ridge, a 216-unit community in the western Illinois city of Moline. The unit mix includes 72 one-bedroom and 144 two-bedroom apartments. The community has been rebranded as Rock Ridge Commons. The buyers plan to invest $8 million into renovating the property. Capital improvements will begin by addressing deferred maintenance, followed by renovations to all units, as well as the clubhouse and common areas. The new owners will also install a …

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ConnecticutInvestment SalesNewsNortheast

NEPCG Brokers $5.2 Million Sale of Willow Park Apartments in Danbury, Connecticut

by Channing Hamilton

DANBURY, CONN. — Northeast Private Client Group (NEPCG) has negotiated the sale of Willow Park Apartments, a 21-unit property in Danbury, 50 miles northeast of New York City. The asset traded hands for $5.2 million. Jeff Wright and Rich Edwards of NEPCG represented the seller and procured the buyer in the deal. Both parties requested anonymity. According to Apartments.com, Willow Park Apartments offers one-bedroom units that span 575 square feet.

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3Waller in Austin, Texas
Investment SalesNewsTexas

JLL Capital Markets Brokers Sale of 259-Unit 3Waller in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — JLL Capital Markets has brokered the sale of 3Waller, a 259-unit property in downtown Austin. Placemakr purchased the asset from Transwestern for an undisclosed price. Ryan McBride, Robert Arzola, Robert Wooten, Alex Fernandes and Nick Beardslee of JLL represented the seller in the deal. 3Waller was built in 2022. The complex offers studio, one- and two-bedroom micro-units that have an average size of 467 square feet.

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