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The District at SoCo in Austin, Texas
FinanceInvestment SalesNewsTexas

Northmarq Arranges $23 Million Acquisition Loan for The District at SoCo in Austin, Texas

by Channing Hamilton

AUSTIN, TEXAS — Northmarq has negotiated $23.6 million in acquisition financing for The District at SoCo, a 215-unit property located near Austin’s downtown area. Located at 501 E. Oltorf Street, The District at SoCo offers amenities such as a pool, fitness center, dog park, outdoor kitchen and Amazon package lockers. Jesse Lemos of Northmarq’s Nashville Debt and Equity team brokered the loan through the company’s in-house Fannie Mae team. The loan was structured on a 5-year term. The borrower was not disclosed.

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Affordable HousingDevelopmentGeorgiaNewsSoutheast

MicroLife Institute, Hope Springs Housing Break Ground on Affordable Housing Project in Atlanta

by Channing Hamilton

ATLANTA — A partnership between MicroLife Institute and Hope Springs Housing has broken ground on Hope Springs Townhomes, an affordable housing development in the Hammond Park neighborhood of Atlanta. Hope Springs Townhomes will comprise 10 townhome-style units, which will be built by Middle Housing Co. This is MicroLife’s first project as a full-time developer. Hope Springs Townhomes will provide housing to women coming out of incarceration for nonviolent offenses, as well as their children. The community will be available at 30 percent of the area median income. Hope Springs Housing …

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Investment SalesNew JerseyNewsNortheast

Marcus & Millichap Arranges $6.1 Million Sale of 13-Unit Property in Hoboken, New Jersey

by Channing Hamilton

HOBOKEN, N.J. — Marcus & Millichap has brokered the $6.1 million sale of a building located at 202-204 Hudson Street in Hoboken’s downtown area. Devin Perez, Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller and procured the buyer, a private investor, in the deal. Both parties requested anonymity. The property offers 13 apartments, as well as two ground-floor retail spaces. The retail spaces are currently leased to Jersey Mike’s Subs and J & J Body Works.

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Affordable HousingFinanceMassachusettsNewsNortheast

MassHousing Provides $9.6 Million in Financing for Affordable Housing Community in Worcester, Massachusetts

by Channing Hamilton

WORCESTER, MASS. — MassHousing has provided $9.6 million in financing for The Aurora, an affordable housing complex in the central Massachusetts city of Worcester. The borrower, The Community Builders, plans to use the proceeds to fund renovations and preserve the property’s affordability status for the next 20 years. The Aurora comprises 85 units across five stories. The building originally opened in 1898 as a hotel and was converted to residential use in the 1980s. The community is affordable to households earning up to 30, 50 and 60 percent of the …

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The Marquis of Tampa in Tampa, Florida
FloridaInvestment SalesNewsSoutheast

JPM Brokers Sale of 357-Unit The Marquis of Tampa in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — JPM Institutional Multifamily has brokered the sale of The Marquis of Tampa, a 357-unit community in Tampa. The Marquis of Tampa was built in 1998. The community features town-home style units in one-, two-, three- and four-bedroom layouts. The average unit size is 1,199 square feet. Amenities include two pools with sundecks, fitness center, business center, theater room and package lockers. Axonic Properties was the seller. The property will be rebranded as Windsor Highwoods Preserve.

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Citra in Phoenix
ArizonaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Brokers Sale of 72-Unit Citra in Phoenix

by Channing Hamilton

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Citra, a 72-unit property in Phoenix. Apartment Ventures acquired the community from Investors Capital Group. Citra was built in 2005 and offers two-bedroom apartments. The average unit size is 1,068 square feet. Amenities include covered parking, a fitness center and a pool with a spa. IPA’s Steve Gebing and Cliff David, in conjunction with Paul Bay, Darrell Moffitt and Adam Saylor of Marcus & Millichap, represented the seller and procured the …

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200 Quannapowitt in Wakefield, Massachusetts
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

JLL Capital Markets Arranges Development Capitalization of 200 Quannapowitt Near Boston

by Channing Hamilton

WAKEFIELD, MASS. — JLL Capital Markets has arranged a capitalization for the development of 200 Quannapowitt, a 440-unit project in the Boston suburb of Wakefield. The borrower and developer was Cabot, Cabot & Forbes. JLL worked on behalf of the developer to secure the joint venture equity with Equity Residential (NYSE: EQR). Brett Paulsrud, Andrew Gray and Mike Shepard led the JLL Capital Markets Advisory team. Situated on Lake Quannapowitt, the community will include one-, two- and three-bedroom apartments. Eighteen percent of units will be designated as affordable. Income restrictions …

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Investment SalesNew JerseyNewsNortheast

SAGE Brokers Sale of 24-Unit Property in Oradell, New Jersey

by Channing Hamilton

ORADELL, N.J. — SAGE Investment Real Estate Advisors has arranged the sale of a 24-unit property in the New York City suburb of Oradell. The building was constructed in the 1960s and features units in one- and two-bedroom layouts. Greg Pine and Steve Tragash of SAGE represented the seller, an entity doing business as Oradell Associates LLC, in the deal. Pine and Tragash also procured the buyer, an undisclosed private investor.

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FinanceInvestment SalesMidwestNewsOhio

BWE Provides $14.5 Million Acquisition Loan for Affordable Page Tower in Cincinnati

by Channing Hamilton

CINCINNATI — BWE has provided a $14.5 million Fannie Mae loan for the acquisition of Page Tower, a 169-unit affordable housing complex in Cincinnati. BWE’s Victor Agusta originated the loan, which features a seven-year term, 24 months of interest-only payments and a 35-year amortization. The property includes a 100 percent Section 8 HAP contract for four years. Page Tower was constructed in 1971. The building rises 14 stories and offers amenities such as a community room, mail room and central laundry area. The property also includes 7,500 square feet of …

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Crossroads Apartments in West Valley City, Utah
Investment SalesNewsUtahWestern

Institutional Property Advisors Brokers Sale of Crossroads Apartments Near Salt Lake City

by Channing Hamilton

WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Crossroads Apartments, a 240-unit asset in the Salt Lake City suburb of West Valley City. Crossroads Apartments was constructed in 1986 on more than 10 acres. The property offers one- and two-bedroom apartments with walk-in closets, storage rooms and a patio or balcony. Community amenities include a pool, children’s playground, basketball and tennis courts, picnic area and clubhouse. IPA’s Brock Zylstra and Danny Shin represented the seller, The …

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