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 …
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.
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.
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 …
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.
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.
TAMPA, FLA. — American Landmark Apartments has acquired The Pointe on Westshore, a 444-unit community in the Westshore Marina District of Tampa. The seller and sales price were not disclosed. Situated at 4950 W. Prescott Street, The Pointe on Westshore was built in 2021. The property includes 13 five-story buildings and two-story townhomes. Units come in one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, pet spa, business center and barbecue and picnic area.
COLUMBUS, GA. — Alliance Residential Co. has delivered Prose Columbus, a 340-unit property in Columbus, approximately 80 miles southwest of Atlanta. Situated at 6700 River Road, Prose Columbus offers one- and two-bedroom apartments averaging 960 square feet. Amenities include a fitness center, mailroom, business center with co-working space, dog park, a pool with tanning shelves and in-pool loungers, two grilling stations and a resident clubroom with an entertainment kitchen. Architect Dynamik Design designed the property.
DES MOINES, IOWA — A partnership between ARTISAN Capital Group and Eastham Capital has acquired Cityville on 9th, a 312-unit community located in downtown Des Moines. The property was built in three phases between 2015 and 2018. ACG secured Fannie Mae loan assumptions for two of the phases. West Bank, a local bank, provided financing for the third phase. The sale price and seller were not disclosed. Cityville on 9th offers 42 studios, 162 one-bedroom, 99 two-bedroom and 9 three-bedroom units. Amenities include a pool, dog park, courtyard, fitness center, …
COSTA MESA, CALIF. — CBRE has brokered the sale of a 12-unit multifamily property at 1993 Church Street in the Eastside neighborhood of Costa Mesa. The property also features two approved Accessory Dwelling Units. The community traded hands for $5.8 million. The buyer and seller were not disclosed.