PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of The Gardens Apartments, a 52-unit community in Paris, roughly 115 miles northeast of Dallas. The asset was built in 1970 and expanded in 2017, and unit interiors were recently upgraded. According to Apartments.com, units come in one-, two- and three-bedroom floor plans. Yonnic Land of TMG represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
WOOD-RIDGE, N.J. — JCMLiving has begun leasing Rosera Wesmont, a 295-unit community in Wood-Ridge, 15 miles northwest of New York City. Rosera Wesmont offers studio, one-, two- and three-bedroom units. Residents have access to amenities such as a pool with a sundeck and landscaped courtyard; multi-level gym with a yoga studio, sauna and bar; coworking spaces, private offices and meeting rooms; and a sports simulator. The property also features 17,000 square feet of retail space, including 3,000 square feet within the building itself. Minno & Wasko Architects and Planners designed the …
MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two communities totaling 112 units, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is located in Mauston, 70 miles northwest of Madison, Wisconsin. The property is situated just under two miles from Decorah Lake. Built in 1994, Riverwood Apartments consists of 32 units, which come in one-, two- …
BERKELEY, CALIF. — RealPage has filed a lawsuit against the city of Berkeley, California, over an impending ban on the use of rent pricing algorithms. The firm is seeking a judgment and injunction against the ordinance, which RealPage argues violates the First Amendment right to lawful speech. The company also asserts that the ordinance was adopted based on false claims regarding its revenue management software. The Berkeley City Council voted to ban rent pricing software on March 25. The ordinance will go into effect on April 24, unless it is …
BOLTON, MASS. — Atlanta-based developer Wood Partners has broken ground on Alta Nashoba Valley, a 229-unit project in Bolton, roughly 45 miles west of Boston. Alta Nashoba Valley will feature a mix of one-, two- and three-bedroom units spread across four three-story buildings. Shared amenities will include a clubroom, workspaces, fitness center, private bar and dining area, dog park, playground, electrical vehicle chargers, a pet spa, pool and firepits and grilling areas. Twenty-five percent of units will be set aside as affordable housing, but income restrictions were not disclosed. The …
HOLLYWOOD, FLA. — Marcus & Millichap has arranged the sale of Executive Rental Apartments, a 44-unit property in Hollywood, 20 miles north of Miami. The three-story building was built at 1715 North 16th Ave. in 1969. The community features an elevator, three laundry rooms and a pool. The unit mix includes one- and two-bedroom floor plans. Joseph Thomas, Alec Demetriou and Adam Marcuvitz of Marcus & Millichap’s Fort Lauderdale office marketed the property on behalf of the seller and procured the buyer.
OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on the project, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the deal. The Colonial was built in 1967 and is currently 95 percent occupied. The average unit size is 902 square feet. Amenities include an outdoor pool, community …
VALDOSTA, GA. — Marcus & Millichap has arranged the $18.3 million sale of 805 Harmon Heights Apartments & Condos, a 100-unit asset in the southern Georgia city of Valdosta. John Brigel of Marcus & Millichap’s Tampa office marketed the asset on behalf of the seller, Bobby Diaz, builder and operator of Diaz Construction LLC, and procured the undisclosed buyer from Tennessee. John Leonard is Marcus & Millichap’s broker of record in Georgia. Located at 805 Harmon Drive, the property consists of 113,600 square feet across nine buildings. Units come in …
WEST DES MOINES, IOWA — Greysteel has negotiated the $38 million sale of Polo Club Apartments in West Des Moines. Built in 1998, the community consists of 277 two-bedroom units. BJ Connolly, Zach Schneider and Ryan Carter of Greysteel represented the seller, Polo Club LLC/Premier Cos, in the deal. The undisclosed buyer represented itself and plans to conduct a full renovation of the property.
NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has begun leasing Baisley Pond Park Residences, a 318-unit affordable housing redevelopment project in Queens. The property is a conversion of the 350-room JFK Hilton Hotel, which was originally built in 1987. Situated in the Jamaica neighborhood of Queens, the complex offers studio, one- and two-bedroom units. Amenities include a fitness center, computer lounge and multiple common rooms. Monthly rents range from $784 for a studio to $1,493 for a two-bedroom apartment. As …