WASHINGTON, D.C. — Akridge and National Real Estate Development have opened Colette and Everly, two apartment communities situated within The Stacks, a mixed-use project in the Buzzard Point neighborhood of Washington, D.C. The openings of Colette and Everly mark the completion of the mixed-use project’s first phase. Phase I of The Stacks totals nearly 1 million square feet, including three apartment buildings with 1,116 units and more than 90,000 square feet of amenity spaces. Phase I also includes approximately 22,000 square feet of public parks, 40,000 square feet of retail …
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SAN MATEO, CALIF. — Stockbridge and Wilson Meany have received a $170 million first mortgage for Bay Meadows Apartment Collection, a portfolio of four properties totaling 390 units in San Mateo, roughly 20 miles south of San Francisco. The portfolio offers a mix of studios, one-, two- and three-bedroom floor plans. The average unit size is 1,035-square feet. The portfolio also features a total 9,961-square feet of ground floor retail space. The four properties included in the portfolio are: The communities are located within the 83-acre Bay Meadows master-planned community, …
JERSEY CITY, N.J. — Tishman Speyer has received a $331 million loan from global investment group CDPQ for the construction of a 40-story apartment tower in Jersey City. Located at 50 Hudson St. in the Paulus Hook neighborhood, the community will consist of 924 apartments and 10,000 square feet of street-level retail space. Units will come in studio, one- and two-bedroom floor plans. The New York City-based developer plans to break ground on the tower in the coming weeks, with completion slated for 2028. The development is the sister building of 55 …
CHARLOTTE, N.C. — Portman and National Real Estate Advisors have delivered Linea, a 24-story apartment tower located at 2161 Hawkins St. in Charlotte’s South End neighborhood. The property features 370 units, as well as 18,000 square feet of ground-floor retail space. Apartments at Linea range from 522 to 1,723 square feet in size. Units come in studio, one-, two- and three-bedroom floor plans. The property also offers 13 penthouses. Shared amenities at Linea include concierge services such as package delivery, in-home grocery and dry-cleaning delivery and plant and cat care. …
NEW JERSEY — Tag Investment Properties has sold a portfolio totaling 519 units throughout Bergen and Hudson counties in New Jersey for $94 million. The properties were constructed between 1920 and 1980. The unit mix includes 61 percent one-bedroom, 35 percent two-bedroom and the remaining units as studios and three-bedroom apartments. Tuli Realty acquired the properties located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield and Jersey City, while Sher Management purchased an asset in Kearny. The portfolio was 97 percent occupied at the time of sale. Cushman & …
PORT WENTWORTH, GA. — A joint venture consisting of PCCP and Advenir Azora has purchased 28 acres in Port Wentworth for the development of a 250-unit build-to-rent (BTR) community. The site is located at 1100 Meinhard Road, approximately 10 miles from the Port of Savannah, a major seaport located in Savannah, Georgia. The community will offer one- and two-bedroom duplexes, two-bedroom cottages and two- and three-bedroom townhomes. The average unit size will be 1,081 square feet. Amenities will include a 3,000-square-foot clubhouse and leasing center with a conference room, coffee …
FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has begun leasing Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas. Rylan at Gateway consists of five three-story buildings on a 14-acre site. Apartments come in studio, one- and two-bedroom floor plans and range in size from 540 to 1,360 square feet. Amenities include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. Monthly rates start at under $1,000 …
SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac. Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a …
ROYAL PALM BEACH, FLA. — The Lynd Group has secured a $132.5 million bridge loan from MF1 Capital to refinance the construction loan for The Villas at Tuttle Royale, a 401-unit asset in Royal Palm Beach, roughly 12 miles west of West Palm Beach. New York-based S3 Capital provided the original $126 million construction loan to Lynd Group in March 2023. The Villas at Tuttle is located within Tuttle Royale, a 200-acre mixed-use project. Situated at 11200 Nicole Drive, The Villas at Tuttle comprises 26 buildings. The garden-style community offers one-, …
CONSHOHOCKEN, PA. — Morgan Properties has acquired a portfolio of 3,054 apartments across 11 communities in eight states. Chicago-based Trilogy Real Estate Group was the seller in the deal, which was valued at $501 million. The assets — which are located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma and Tennessee — were built between 1989 and 2018. Newmark brokered the sale of 10 of the communities in the portfolio, while Walker & Dunlop brokered the sale of one property. Morgan Properties states that the firm plans to implement a …