DARDENNE PRAIRIE, MO. — Mia Rose Holdings has broken ground on The Prairie Encore, a $90 million mixed-use development in the northwest St. Louis suburb of Dardenne Prairie. The four-story building will feature 190 apartment units. Amenities will include two interior courtyards, a 3,000-square-foot lobby with a leasing office, coffee bar, fitness center, coworking spaces, dog park, pool and community gathering spaces. The property will also feature commercial space, such as a Sugarfire Smokehouse with sand volleyball and pickleball courts, Macadoodles, Smalls Sliders, Beer & Spirits, Starbucks, a Circle K …
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BELMONT, CALIF. — Värde Partners has provided $105 million in construction takeout refinancing for Artisan Crossing, a 250-unit asset in Belmont, 23 miles south of San Francisco. Chris Gandy and Tom Gilliland of JLL arranged the loan, which features a three-year initial term with two one-year extension options. The borrower was Windy Hill Property Ventures. Artisan Crossing was recently completed in 2023, according to Apartments.com. The property offers amenities such as a fitness center, pool, dog spa, clubroom with rooftop deck, conference room, work pods and underground parking.
TAMPA, FLA. — BWE has negotiated a $76.8 million loan for the refinancing of The Mav Channelside, a 324-unit property located at 601 N. 12th St. in Tampa’s Channelside District. Alan Tapie, Thomas Wiedeman, Brad Walker and Hanley Long of BWE secured the five-year, fixed-rate loan using Fannie Mae’s Near-Stabilization Execution. The borrower was a joint venture led by Birmingham, Ala.-based Daniel Corp. The Mav Channelside was built in 2022. The mid-rise community offers a mix of 108 studio, 163 one-bedroom and 53 two-bedroom apartments. Community amenities include a fitness …
SAN ANTONIO — JLL Capital Markets has arranged the sale and financing of Cottages at Leon Creek, a 284-unit build-to-rent community in San Antonio. Located at 12839 Berthoud Ln., Cottages at Leon Creek was originally built as a student housing asset. The property has since been repositioned as a single-family rental community. Cottages at Leon Creek now offers two-, three- and four-bedroom units. Select units feature fenced-in private yards. Amenities include a pool, fitness center, pickleball court, private workstations and a cinema. The asset also offers direct access to the …
NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged the $148 million refinancing of The Victoria, a mixed-use property in the Harlem neighborhood of Upper Manhattan. The project was constructed around the neighborhood’s historic Victoria Theater. According to Walker & Dunlop, The Victoria is the tallest building in Harlem. The Victoria comprises 191 apartments, as well as 23,000 square feet of retail space, a 211-room Marriott-branded hotel and 52 below-grade parking spaces. The 30-story building was completed in the third quarter of 2023. Aaron Appel, Keith Kurland, Jonathan …
CHICAGO — Locally based developer and property manager Habitat has opened OC Living, the first residential community at Ogden Commons, a $200 million mixed-use development in Chicago’s North Lawndale neighborhood. Located at 1325 S. Washtenaw Ave., OC Living consists of one four-story building housing 92 units across four stories. Ninety percent of apartments are set aside as affordable housing. Income restrictions for these units were not disclosed. The unit mix includes 23 studios, 60 one-bedroom units and nine two-bedroom apartments. Community amenities include a rubber-surfaced children’s lot with play structures, …
GLENDALE, ARIZ. — Institutional Property Advisors has arranged the sale of Glen 91, a 296-unit community in the Phoenix suburb of Glendale. HCW sold the property to Bridge Investment Group for $76.5 million. Steve Gebing and Cliff David represented the seller and procured the buyer in the transaction. Glen 91 was built in 2023. Units average 871 square feet in size and feature full-size washers and dryers, nine-foot ceilings and walk-in closets with built-in shelving. Community amenities include a pool, hammock garden, covered parking and attached garages.
DENTON, TEXAS — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 apartment units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land holdings …
WEST VALLEY, ARIZ. — Tower Capital has negotiated $51.5 million in non-recourse construction financing for the development of Skyview by Zen, a 190-unit build-to-rent (BTR) community in West Valley, 50 miles west of downtown Phoenix. Kyle McDonough and George Maravilla of Tower Capital arranged the financing on behalf of Zen and 10Y. The sponsor acquired the development site at 2627 N. 83rd Ave. in 2023. Once completed, Skyview by Zen will offer townhomes in two- and three-bedroom layouts. Construction is underway, with the first units slated to deliver in October …
JERSEY CITY, N.J. — CBRE has arranged the sale of Lenox and Quinn, two adjacent properties totaling 408 units located in the Paulus Hook neighborhood of Jersey City. Houston-based investment manager Hines Interests purchased both assets from institutional investors advised by J.P. Morgan Asset Management for $221.5 million. Lenox was built in 2017 and comprises 255 units. The property also includes a 257-space automated parking garage. Built in 2018, Quinn totals 153 units. Both communities feature amenities such as a rooftop with BBQ gas grills and a pool, resident lounge, …