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Union at Purple Heart Trail in Wichita, Kansas
Affordable HousingDevelopmentFinanceKansasMidwestNews

Annex Group Underway on $61 Million Affordable Housing Development in Wichita, Kansas

by Channing Hamilton

WICHITA, KAN. — The Annex Group is underway on the construction of Union at Purple Heart Trail, a $61 million affordable housing project in Wichita. Purple Heart Trail will consist of 240 apartments across two four-story buildings. Units will be available to households earning at or below 60 percent of the area median income. Planned amenities include a community center with a fitness center, media center, business center, outdoor gazebo, playground, dog park, walking path and picnic areas. Construction is slated to complete in early 2026. The development team for …

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2-20 and 2-21 Malt Drive in New York City
Affordable HousingDevelopmentNew YorkNewsNortheast

TF Cornerstone Nears Completion on 1.4 Million-Square-Foot Development in Queens

by Channing Hamilton

NEW YORK CITY — New York City-based developer TF Cornerstone is nearing completion on 2-20 and 2-21 Malt Drive, a 1.4 million-square-foot high-rise community in the Long Island City neighborhood of Queens. At full build-out, the project will deliver 1,386 apartments across two buildings, as well as retail space and a public park. 2-20 and 2-21 Malt Drive are situated on Malt Drive, a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The …

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The Meadows at Berkeley Ridge in Martinsburg, West Virginia
BerkadiaBuild-to-RentInvestment SalesNewsSoutheastWest Virginia

Berkadia Brokers Sale of 148-Unit Build-to-Rent Community in Martinsburg, West Virginia

by Channing Hamilton

MARTINSBURG, W.VA. — Berkadia has arranged the sale of The Meadows at Berkeley Ridge, a 148-unit build-to-rent (BTR) complex located at 368 Pineda Lane in Martinsburg. The buyer was a joint venture between DSP Real Estate Capital and Rockbridge Investment Group. The sales price and seller were not disclosed. Brett Moss, Tyler Swidler, Drew White, Carter Wood and Cole Carns of Berkadia brokered the deal. Additionally, Phil Branigan, Miles Drinkwalter and Natalie Revers of Berkadia originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer. The Meadows …

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Burnside Farms Apartments in Columbia, South Carolina
DevelopmentFinanceNewsSouth CarolinaSoutheast

Walker & Dunlop Arranges $62 Million Construction Financing for Burnside Farms Apartments in Columbia, South Carolina

by Channing Hamilton

COLUMBIA, S.C. — Walker & Dunlop has arranged $62 million in debt and equity financing for the construction of Burnside Farms Apartments in Columbia. Jamie Butler, Cliff Ayers, Michael Bowles and Jason McFadden of Walker & Dunlop arranged the non-recourse financing on behalf of the borrowers, South Coast Property Investments and Abacus Capital. Burnside Farms Apartments will comprise 308 apartments. A portion of the community will be set aside as affordable housing, but the number of units and income restrictions for the affordable units were not disclosed. The property will …

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MetWest Residential in Tampa, Florida
DevelopmentFinanceFloridaNewsSoutheast

ZOM Living, MetLife Investment Management Secure $63 Million in Construction Financing for MetWest Residential in Tampa, Florida

by Channing Hamilton

TAMPA, FLA. — ZOM Living and MetLife Investment Management have secured $63 million in construction financing for MetWest Residential, a 375-unit project located within the Westshore District of Tampa. Looney Ricks Kiss designed the community. MetWest Residential will rise eight stories. The community will offer studio, one-, two- and three-bedroom apartments ranging from 576 to 1,601 square feet. Amenities will include a pool with an outdoor deck, courtyard, fitness center, co-working and conference spaces, a dog park and a lounge on the eighth floor. MetWest Residential will also feature 3,000 …

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194 East 2nd Street in New York City
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $43 Million Sale of 62-Unit Property in Manhattan

by Channing Hamilton

NEW YORK CITY — Marcus & Millichap has brokered the sale of 194 East 2nd Street, a 62-unit community in the East Village neighborhood of Manhattan. Skyline Developers sold the asset to Benchmark Real Estate Group for $43 million. Skyline Developers originally bought the community in 2000. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller and procured the buyer in the deal. 194 East 2nd Street comprises 77,000 square feet, including 10,000 square feet of ground floor retail space. The unit mix includes four …

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ShoreLINE in San Diego, California
Affordable HousingCaliforniaDevelopmentNewsWestern

Affirmed Housing, MTS Complete $62.6 Million Affordable Housing Project in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Affirmed Housing and the Metropolitan Transit System (MTS) have completed ShoreLINE, a $62.6 million affordable, transit-oriented housing development in San Diego. The property is located at the Grantville Transit Center on Alvarado Canyon Road. ShoreLINE comprises 126 apartments in studio, one-, two- and three-bedroom floor plans. The property is affordable to households earning between 30 and 60 percent of the area median income. Amenities include laundry facilities, bike storage, parking, a computer lab, courtyard, outdoor gardens, a playground, barbeque station and a community room with gathering …

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Villas at 28th Street in Vancouver, Washington
Investment SalesNewsWashingtonWestern

Kennedy Wilson, Haseko Acquire Two Properties in Vancouver, Washington, for $90 Million

by Channing Hamilton

VANCOUVER, WASH. — A real estate fund managed by Kennedy Wilson has partnered with Haseko Corp. to purchase two communities in Vancouver for $90 million. The two properties — The Farmstead and Villas at 28th Street — total 350 units altogether. Both communities feature amenities such as gated access, fitness centers, dog parks, a pickleball court, pet wash stations, green spaces and walking trails. According to Apartments.com, The Farmstead offers one-, two- and three-bedroom layouts. Villas at 28th Street offers studio, one- and two-bedroom floor plans.

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2000 Lake Washington in Renton, Washington
Investment SalesNewsWashingtonWestern

NYLREI Sells 186-Unit 2000 Lake Washington Near Seattle for $53.2 Million

by Channing Hamilton

RENTON, WASH. — New York Life Real Estate Investors (NYLREI) has divested of 2000 Lake Washington, a 186-unit community located at 1300 N. 20th Street in the southeast Seattle suburb of Renton. The asset traded hands for $53.2 million. 2000 Lake Washington was built in 1986 and renovated in 2016. The property offers one- and two-bedroom apartments that average 706 square feet. Units feature in-unit washers/dryers and a balcony or patio. Community amenities include a fitness center, dog park, business center, clubhouse, outdoor pool, sauna and electric vehicle chargers. Eli Hanacek, …

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Park on Voss in Houston
FinanceInvestment SalesNewsTexas

BridgeInvest Provides $55.5 Million Loan for Park on Voss in Houston

by Channing Hamilton

HOUSTON — BridgeInvest has provided a $55.5 million in financing to Tara Capital for the acquisition and renovation of Park on Voss, an 810-unit community in Houston. Park on Voss is located at 2424 S. Voss Road in the city’s Westchase neighborhood. The asset comprises 610,950 square feet and offers studio, one- and two-bedroom units. CBRE arranged the loan. The new owner plans to renovate 610 apartments, as well as upgrade the remaining 200 units, which have already undergone a recent renovation. The loan will also be used to install …

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