Saturday, January 11, 2025
Read the Digital Magazines Subscribe to the Newsletter

Top Story

Ascent MKE in Milwaukee
FinanceMidwestNewsWisconsin

JLL Capital Markets Arranges $98 Million Refinancing for Ascent MKE in Milwaukee

by Channing Hamilton

MILWAUKEE — JLL Capital Markets has arranged $98 million for the refinancing of Ascent MKE, a 25-story high-rise community in Milwaukee. JLL worked on behalf of the borrower, an affiliate of New Land Enterprises, to secure the three-year, floating-rate loan through Barings Real Estate. Tim Joyce, Trent Niederberger, Mike Brady, Ryan Sullivan and Michael Gurwin led the JLL Capital Markets Debt Advisory team. Ascent MKE was built in 2022. The property offers 259 units in one-, two- and three-bedroom layouts. Units average 1,055 square feet in size and include smart …

Continue Reading
0 FacebookTwitterLinkedinEmail
St. Andrews Villa in Madison, Alabama
AlabamaInvestment SalesNewsSoutheast

Marcus & Millichap Broker $21.7 Million Sale of St. Andrews Villa in Madison, Alabama

by Channing Hamilton

MADISON, ALA. — Marcus & Millichap has brokered the sale of St. Andrews Villas, a 96-unit townhome-style community in Madison. The project’s developer, Keelon Development Inc., sold the asset to an undisclosed buyer for $21.7 million. Josh Jacobs and Royce Emerson of Marcus & Millichap represented Keelon Development in the deal. Built in 2023, St. Andrews Villas offers one-level rental townhomes with 9-foot ceilings, walk-in showers and garages with EV chargers. Amenities include a swimming pool, coworking space and a fitness center. The community is situated at 29789 Hardiman Road, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Lenox Timbergrove in Houston
DevelopmentNewsTexas

OHT Partners Breaks Ground on 293-Unit Lenox Timbergrove in Houston

by Channing Hamilton

HOUSTON — OHT Partners LLC has broken ground on Lenox Timbergrove, a 293-unit complex located in the Lazybrook/Timbergrove neighborhood of Houston. The project will rise five stories at 2825 W. 11th Street. Lenox Timbergrove will offer studio, one- and two-bedroom units ranging in size from 500 to 1,150 square feet. Planned amenities include a pool, outdoor pavilion with gas grills and kitchen, pet spa, co-working space and a turf game lawn. The project is slated to open for residency near the end of 2025.  

Continue Reading
0 FacebookTwitterLinkedinEmail
Pulse Millenia in Chula Vista, California
CaliforniaInvestment SalesNewsWestern

JLL Capital Markets Arranges $116 Million Sale of Pulse Millenia in San Diego Suburb

by Channing Hamilton

CHULA VISTA, CALIF. — JLL Capital Markets has arranged the $116 million sale of — and $71.8 million in acquisition financing for — Pulse Millenia, a 273-unit community in the San Diego suburb of Chula Vista. JLL represented the seller, Northwestern Mutual, in the deal. JLL also worked on behalf of the new owner to secure a seven-year, fixed-rate loan through Freddie Mac Multifamily. Built in 2016, Pulse Millenia was the first community to be constructed as part of the $4 billion Millenia, a master planned development in Chula Vista’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Cosmopolitan Apartments in St. Paul, Minnesota
Investment SalesMidwestMinnesotaNews

JLL Brokers Sale of 258-Unit The Cosmopolitan Apartments in St. Paul, Minnesota

by Channing Hamilton

ST. PAUL, MINN. — JLL has negotiated the sale of and acquisition financing for The Cosmopolitan Apartments, a 258-unit community located in St. Paul’s historic Lowertown neighborhood. Bigos Management acquired the property from AEW Capital Management for an undisclosed price. JLL represented the seller in the deal. Will Tansey of Felhaber Larson law firm represented the buyer. The Cosmopolitan Apartments was originally constructed as the Finch, Van Slyck and McConville Dry Goods Company building in 1911. The building was converted into apartments in 1989, and has since undergone $8 million …

Continue Reading
0 FacebookTwitterLinkedinEmail
Front Row in Huntsville, Alabama
AlabamaDevelopmentFinanceNewsSoutheast

Essex Capital, Ascend Property Group Break Ground on $220 Million Mixed-Use Project in Huntsville, Alabama

by Channing Hamilton

HUNTSVILLE, ALA. — A joint venture between Essex Capital and Ascend Property Group has broken ground on Front Row, an 11-acre, mixed-use project in downtown Huntsville. The $220 million first phase of Front Row is currently underway, following recent news that Banco Inbursa and a group led by Keel Point and Opportunity Alabama provided $115 million in construction financing. The first retail space is slated to deliver in late 2025, followed by apartments and office space in early 2026. At full build-out, the first phase of Front Row will comprise …

Continue Reading
0 FacebookTwitterLinkedinEmail
Natura Gardens in Miami
FinanceFloridaNewsSoutheast

Terra, New Valley Secure $127 Million to Refinance Natura Gardens in Miami

by Channing Hamilton

MIAMI — Development partners Terra and New Valley have secured $127 million in permanent financing for Natura Gardens, a 460-unit complex in the West Hialeah neighborhood of Miami. Keith Kurland, Aaron Appel, Jon Schwartz, Adam Schwartz and Michael Diaz of Walker & Dunlop’s New York Capital Markets team arranged the financing. The funds will be used to pay off and refinance an existing $65 million construction loan, which Bank OZK provided in 2021. Natura Gardens was completed in the summer of 2023. Situated on a 23-acre site, the garden-style community …

Continue Reading
0 FacebookTwitterLinkedinEmail
Miroza Tower in Yonkers, New York
DevelopmentFinanceNew YorkNewsNortheast

Azorim Construction Co. to Develop $133.5 Million Miroza Tower in Yonkers, New York

by Channing Hamilton

YONKERS, N.Y. — A subsidiary of Azorim Construction Co. Ltd. will develop Miroza Tower, a $133.5 million high-rise asset in the New York City suburb of Yonkers. The Yonkers Industrial Development Agency recently granted final approval of financial incentives for the project. Azorim Construction Co. is receiving a sales tax exemption of $5.8 million, a mortgage recording tax exemption of $1.3 million and a 20-year payment in lieu of taxes agreement valued at $12.4 million. Situated at 44 Hudson St., Miroza Tower will offer 250 apartment units across 27 stories. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Grove Central in Miami
FinanceFloridaNewsSoutheast

Terra and Grass River Secure $245 Million for Grove Central Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Locally-based developers Terra and Grass River have secured $245 million in permanent financing for Grove Central, a recently completed mixed use project in Miami’s Coconut Grove neighborhood. The loan was issued by JP Morgan Chase & Co. Walker & Dunlop represented Terra and Grass River in arranging the financing, with Keith Kurland as the mortgage broker. The funds will be used to pay off the development’s existing construction loan, which was provided by Apollo Global Management in 2021, and to fund remaining public infrastructure improvements. Grove Central includes …

Continue Reading
0 FacebookTwitterLinkedinEmail
Legado at the Met in Santa Ana, California
CaliforniaDevelopmentFinanceNewsWestern

Gantry Arranges $128 Million Construction-to-Permanent Financing for Legado at the Met in Santa Ana, California

by Channing Hamilton

SANTA ANA, CALIF. — Gantry Inc. has negotiated $128 million in construction-to-permanent financing through three separate lenders for the development of Legado at the Met in Santa Ana, less than 10 miles southeast of Anaheim. The borrower was Legado Cos. Legado at the Met will comprise 258 market-rate apartments. The development will be situated at 200 E. First American Way. According to the City of Santa Ana’s government website, the community will rise six stories. Units will come in studio, one, two and three-bedroom layouts ranging from approximately 612 to …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.