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Parks at Delray
DevelopmentFloridaNewsSoutheast

ANF Delivers First Phase of 43-Acre Mixed-Use Project in Delray Beach, Florida

by Channing Hamilton

DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach, about 5.5 miles south of Fort Lauderdale, Florida. The first phase of Parks at Delray consists of 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. At full build-out, Parks at Delray will offer 747 apartments, approximately 10 percent of which will be designated as …

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The A.J.
CaliforniaDevelopmentNewsWestern

Partnership Opens $130 Million Development at The Railyards in Sacramento, California

by Channing Hamilton

SACRAMENTO, CALIF. — A partnership between USA Properties Fund and LDK Ventures has delivered The A.J., a $130 million mixed-income project within The Railyards in Sacramento. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income. Additionally, The A.J. offers more than 5,000 square feet of ground-level retail space. Residents have access to amenities including a fitness center; pool and spa with cabanas; bike storage area with repair station; pet spa and wash area; …

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The Gilmore
ArizonaDevelopmentNewsWestern

Thompson Thrift Breaks Ground on $225 Million Mixed-Use Project in Gilbert, Arizona

by Channing Hamilton

GILBERT, ARIZ. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use project located roughly 23 miles east of downtown Phoenix in Gilbert. The Gilmore will consist of 300 apartment homes, a hotel and approximately 200,000 square feet of grocery, restaurant and retail space. The 35-acre development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. Retailers are expected to begin opening in late 2026, while the first resident move-ins are planned for early 2027.

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Ruby Square
DevelopmentLeasing & MarketingNew YorkNewsNortheast

BRP Cos. Begins Leasing 614-Unit Mixed-Income Development in Queens

by Channing Hamilton

NEW YORK CITY — Locally based owner-operator BRP Cos. has begun leasing Ruby Square, a 614-unit mixed-income development located in the Jamaica area of Queens. The property features a mix of seven studios, 454 one-bedroom units and 153 two-bedroom apartments. Of the total unit count, 185 have been set aside as affordable for residents earning between 80 and 130 percent of the area median income. The property also offers 50,000 square feet of amenity space, including a two-level private park, multiple rooftop lounges, a fitness center, coworking spaces, resident lounges, …

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Soma Towers
Investment SalesNewsWashingtonWestern

Su Development Divests of Soma Towers Near Seattle for $192.8 Million

by Channing Hamilton

BELLEVUE, WASH. — Su Development has completed the sale of Soma Towers, a 273-unit property located at 288 106th Ave. NE in Bellevue. The Sobrato Organization purchased the two-tower community for $192.8 million. Eli Hanacek, Kyle Yamamoto and Mark Washington of CBRE represented the seller in the deal. Soma Tower consists of two towers, which house a mix of studio, one- and two-bedroom apartments and two- and four-bedroom penthouse suites. The property also features 29,964 square feet of commercial space across two floors that is 90 percent leased to restaurants, retail …

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La Central
FinanceNew YorkNewsNortheast

Partnership Receives $343 Million in Financing for Affordable Housing Project in South Bronx

by Channing Hamilton

NEW YORK CITY — A partnership between The Hudson Cos. and BRP Cos. has received $343 million in financing for Phase II of La Central, a 420-unit affordable housing development in the South Bronx. The second phase of La Central will encompass Building C, which will consist of 166 units across 13 stories, and Building E, a 26-story building that will feature 254 units. Development on Phase II is slated to complete in 2028. Apartments will come in one-, two, three- and four-bedroom floor plans. The buildings will be reserved …

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Altus Odessa Portfolio
Investment SalesNewsTexas

Altus Equity Group Acquires 1225-Unit Portfolio in Odessa, Texas

by Channing Hamilton

ODESSA, TEXAS — Altus Equity Group Inc. has acquired a portfolio of six garden-style assets totaling 1,225 apartments in the western Texas city of Odessa. The portfolio was 92 percent occupied at the time of sale. Altus Equity Group acquired the portfolio through a partnership with Wellings Capital. Drew Garza of the Dallas office of Institutional Property Advisors, a division of Marcus & Millichap, arranged the deal. Rocco Mandala of CBRE arranged the debt. Phillips Murrah and Beyers Costin Simon provided legal counsel.

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One Twenty Brickell Residences
DevelopmentFinanceFloridaNewsSoutheast

PMG Secures $413 Million Construction Loan for High-Rise Development in Miami

by Channing Hamilton

MIAMI — PMG has received a $413 million construction loan for One Twenty Brickell Residences, a two-tower development in Miami’s Brickell Financial District. Located at 120 S.W. 8th St., the project will consist of an apartment tower and a condominium tower.  The multifamily high-rise will rise 41 stories and offer a mix of studio, one-, two- and three-bedroom apartments. The building will also feature a 48,000-square-foot amenity package, including a pool with a hot tub, fitness center, coworking hub, lounges and a lobby with concierge services. Sentral will operate the …

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Park at Valenza
FloridaInvestment SalesNewsSoutheast

BMC Investments Buys 776-Unit Community Near Tampa, Florida

by Channing Hamilton

TEMPLE TERRAE, FLA. — Denver-based BMC Investments has purchased Park at Valenza, a 776-unit complex located at 6900 Aruba Ave. in Temple Terrace, about 10 miles northeast of Tampa. The seller and sales price were not disclosed, as well as BMC’s joint venture partner. A Prime Finance-sponsored fund provided acquisition financing for the deal. Park at Valenza was built in three phases from 1987 to 1996, and features a mix of one-, two- and three-bedroom apartments. Residents have access to amenities such as a lounge, gym, pool, basketball court and …

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The Links on PGA Parkway
DevelopmentFinanceNewsTexas

Carbon Cos., Greenway Receive $125 Million in Construction Financing for Project in Frisco, Texas 

by Channing Hamilton

FRISCO, TEXAS — Carbon Cos. and Greenway Investment Co. have received roughly $125 million in construction financing for The Links on PGA Parkway, an apartment community located about 30 miles north of Dallas in Frisco. The debt, which was arranged by the Carbon Cos. internal team, will be used to complete the construction of the final two phases of the four-phase, 38-acre development. The financing includes a syndicated bank loan facility and mezzanine loan. Origin Bank arranged the syndicated bank loan, with participant banks including Simmons Bank, North Dallas Bank …

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