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Cushman & Wakefield Brokers $78.8 Million Sale of Landmark Apartments in Little Rock, Arkansas

by Channing Hamilton March 22, 2024

LITTLE ROCK, ARK. — Cushman & Wakefield has negotiated the $78.8 million sale of Landmark Apartments, a 372-unit community in Little Rock. Canyon View Capital purchased the asset from Landmark Apartments II LLC in two phases, paying $40.3 million in February 2023 and $38.5 million in February 2024. Martin Bynum and Cole Herget of Cushman & Wakefield represented the seller in the transaction. Landmark Apartments was constructed in two phases by VCC Construction. The first phase consisted of 196 units and was built in 2017. The second phase, which added an additional 176 units, …

March 22, 2024

Finance Florida News Southeast

Aztec Group Arranges $95 Million Refinancing for Tamarac Village Apartments Near Miami

by Channing Hamilton March 21, 2024

TAMARAC, FLA. — Aztec Group has arranged a $95 million loan to refinance Tamarac Village, a 401-unit community in the Miami suburb of Tamarac. The borrower, Lotis Group, developed the property in two phases in 2020 and 2023. Situated on 12.7 acres, Tamarac Village offers one-, two- and three-bedroom floor plans. Units range in size from 800 to 1,485 square feet, according to Apartments.com. The property also includes a nearly 9,000-square-foot clubhouse. MF1 Capital provided the bridge financing.

March 21, 2024

Investment Sales New York News Northeast

Walker & Dunlop Arranges $109 Million Construction Loan for 247-Unit Community in Brooklyn

by Channing Hamilton March 20, 2024

NEW YORK CITY — Walker & Dunlop has arranged a $109 million construction loan for a 247-unit project located at 1034-1042 Atlantic Ave. in Brooklyn’s Prospect Heights neighborhood. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the five-year, interest-only loan through QuadReal Property Group. The borrower was EMP Capital Group. The development will consist of two adjourning buildings that will create a cross-block lot between Atlantic Avenue and Pacific Street. The unit mix will include 56 studios, 139 one-bedroom apartments …

March 20, 2024

California Finance Investment Sales News Western

Institutional Property Advisors Brokers $125 Million Sale of Prado in Santa Clara, California

by Channing Hamilton March 19, 2024

SANTA CLARA, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of Prado, a 251-unit asset in Santa Clara. Alliance Residential acquired the property from Summerhill Apartment Communities for $125 million. Prado was built in 2021. The community offers one- and two-bedroom units with an average size of 843 square feet. Amenities include a pool and spa, fitness center, indoor and outdoor resident lounges, a business center, game room and barbeque area. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alex Tartaglia of IPA represented the seller and procured the buyer. …

March 19, 2024

Development Finance New York News Northeast

Dwight Mortgage Trust Provides $108.2 Million Bridge Loan for The Shoreline in Brooklyn

by Channing Hamilton March 18, 2024

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided $108.2 million in bridge financing for The Shoreline, a mixed-use community in Brooklyn. The borrowers, Solomon Rubin and Chesky Rosen, will use the funds to refinance existing debt and complete the construction and lease-up of the project. The 31-story building includes 248 apartments, as well as 28,600 square feet of commercial space. Units come in studio, one- and two-bedroom floor plans. The Shoreline also features 25,000 square feet of amenities, including a pool, fitness center, game …

March 18, 2024

Alta Chandler at The Park in Chandler, Arizona

Arizona Investment Sales News Western

Institutional Property Advisors Arranges $94.5 Million Sale of Alta Chandler at The Park in Phoenix Suburb

by Channing Hamilton March 15, 2024

CHANDLER, ARIZ. — Institutional Property Advisors (IPA) has negotiated the sale of Alta Chandler at The Park, a 291-unit complex in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition. IPA Capital Markets arranged $52 million in acquisition financing on behalf of the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only …

March 15, 2024

The Preserve at Poinciana in Poinciana, Florida

Build-to-Rent Development Florida Investment Sales News Southeast

Shoreham Capital Sells 175-Unit Build-to-Rent Community Near Orlando

by Channing Hamilton March 14, 2024

POINCIANA, FLA. — Shoreham Capital has sold The Preserve at Poinciana, a 175-unit build-to-rent community currently under construction in the Orlando suburb of Poinciana. An unnamed state pension fund purchased the asset through a separate account managed by Heitman. The sales price was not disclosed. Tyler Swidler, Brett Moss and Matt Mitchell of Berkadia represented Shoreham Capital in the deal. The Preserve at Poinciana will feature three- and four-bedroom homes ranging 2,000 to 2,300 square feet in size. Amenities will include attached garages, a pool, green space, children’s playground, dog …

March 14, 2024

Colorado Investment Sales News Western

Partnership Acquires Hearthstone at City Center in Aurora, Colorado for $74 Million

by Channing Hamilton March 13, 2024

AURORA, COLO. — A partnership consisting of Bascom Group and an affiliate of Oberndorf Real Estate Management, formerly known as The Axton Group, has acquired Hearthstone at City Center in Aurora. The 360-unit asset traded hands for $74 million. The seller was not disclosed. Aurora is an eastern suburb of Denver. Hearthstone at City Center is located at 932 South Helena Way. The property features one-, two- and three-bedroom units across 41 buildings on an 18.2-acre site. Amenities include a pool, outdoor grilling and picnic areas, a fitness center and …

March 13, 2024

Finance News Oregon Western

JLL Capital Markets Brokers $80.5 Million in Financing for Chase Village in Eugene, Oregon

by Channing Hamilton March 12, 2024

EUGENE, ORE. — JLL Capital Markets has arranged the $80.5 million refinancing of Chase Village, a 536-unit community in Eugene. Chase Village was built in 1990. The complex offers one-, two- and three-bedroom apartments. Units feature full kitchens, in-unit laundry, wood plank flooring and walk-in closets. Amenities include a pool, basketball court, fitness center, outdoor lounge spaces, a basketball court, grilling area and car wash area. JLL secured the five-year loan through Freddie Mac Multifamily. Horizon Realty Advisors was the borrower. The loan will be serviced by JLL Real Estate Capital LLC. …

March 12, 2024

Development Finance News Southeast Virginia

Kennedy Wilson Provides $96 Million to Construct Office-to-Residential Conversion Project in Alexandria, Virginia

by Channing Hamilton March 11, 2024

ALEXANDRIA, VA. — Kennedy Wilson has provided a $96 million senior construction loan for the development of TideLock, an office-to-multifamily redevelopment project in Alexandria. The project will redevelop three existing office buildings into a mixed-use complex. Marshall Scallan, Michael Zelin, Bindi Shah and Nick Rangel of Cushman & Wakefield negotiated the financing on behalf of the borrowers, Community Three and Whitaker Investment Corp. Plans for TideLock include 169 residential units, as well as 65 condominiums and 7,000 square feet of commercial space. Construction is slated to begin immediately and complete …

March 11, 2024

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