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Lakeside Residences in Pompton Lakes, New Jersey
Investment SalesNew JerseyNewsNortheast

Hudson Atlantic Realty Sells Lakeside Residences in Pompton Lakes, New Jersey, for $20 Million

by Channing Hamilton

POMPTON LAKES, N.J. — Hudson Atlantic Realty has sold Lakeside Residences, a 52-unit building in Pompton Lakes, approximately 20 miles northwest of Midtown Manhattan. The property was built in 2022 and sold for $20 million. Lakeside Residences offers amenities such as a fitness center, resident lounge, game room and storage space. According to the community’s website, units come in one- and two-bedroom floor plans. Units feature stainless steel appliances, quartz countertops, subway tile backsplashes and vinyl flooring.

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Avalon Apartments and Townhomes in Inver Grove Heights, Minnesota
DevelopmentFinanceMidwestMinnesotaNews

JLL Brokers $60.1 Million to Develop Avalon Apartments and Townhomes Near Minneapolis

by Channing Hamilton

INVER GROVE HEIGHTS, MINN. — JLL Capital Markets has arranged $60.1 million in mezzanine and construction financing for Avalon Apartments and Townhomes, a 244-unit complex in the southeast Minneapolis suburb of Inver Grove Heights. JLL worked on behalf of the borrower, Trident Development, to secure the $45 million construction loan from Alerus. Additionally, JLL sourced $15.1 million in mezzanine financing through Centerspace. Dan Linnell, Scott Loving, Josh Talberg and Mox Gunderson led the JLL Capital Markets Advisory Team. Avalon Apartments and Townhomes will offer 190 apartments and 54 townhomes. The unit …

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A 466-Unit Project from Saxum Real Estate in Philadelphia
DevelopmentFinanceNewsNortheastPennsylvania

JLL Arranges $55.7 Million in Construction Financing for Second Phase of 466-Unit Project in Philadelphia

by Channing Hamilton

PHILADELPHIA — JLL Capital Markets has arranged $55.7 million in construction financing for a seven-story development located in the Northern Liberties neighborhood of Philadelphia. The project is the second phase of a two-phased development that will total 466 units. The first phase is currently under construction, with completion slated for September 2024. The second phase of the project will comprise 187 studio, one-, two- and three-bedroom units, as well as 7,803 square feet of ground floor retail and a 45,000-square-foot amenity package. Amenities will include a pool, courtyard deck overlooking …

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Metro Edgewater in Miami
FinanceFloridaNewsSoutheast

JLL Capital Markets Negotiates $115 Million in Financing for Metro Edgewater in Miami

by Channing Hamilton

MIAMI — JLL Capital Markets has arranged $115 million in financing for Metro Edgewater, a 279-unit high-rise development in the Edgewater neighborhood of Miami. The building rises 32 stories and offers one-, two- and three-bedroom units averaging 955 square feet in size. Units feature walk-in closets, stainless steel appliances, hardwood and plank vinyl flooring, quartz countertops, and balconies. Amenities include a pool with cabanas and dry beds, fitness center, clubroom, a sky lounge, dining room and coffee bar. The borrower was a consortium consisting of Lujeni Corp., Camino Capital Management …

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Timber Creek in Charlotte, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

S2 Capital Acquires 352-Unit Timber Creek in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — S2 Capital has acquired Timber Creek, a 352-unit property in the Collingwood neighborhood of Charlotte. Financial terms of the transaction were not disclosed. Located at 1100 Falls Creek Lane, Timber Creek offers studio, one- and two-bedroom apartments. Amenities include a pool, grilling station, clubhouse, fitness center, dog park and nature trail. S2 Capital plans to make exterior renovations to buildings and outdoor amenities, as well as upgrade unit interiors. The asset will be rebranded as “The Marley.”

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39 High Street in Jersey City, New Jersey
FinanceNewsNortheast

JLL Arranges $18.6 Million Loan to Refinance 83-Unit Property in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — JLL has negotiated an $18.6 million loan to refinance an 83-unit complex in the Journal Square neighborhood of Jersey City. JLL’s Matthew Pizzolato, Max Custer and John Cumming arranged the fixed-rate loan through a life insurance company. The borrower was a partnership between Spitzer Enterprises and Titanium Realty Group. The six-story complex was built earlier this year at 39 High Street. Units come in studio, one-, two- and three-bedroom units. Amenities include a fitness center, tenant lounge, children’s playroom and a rooftop terrace.

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West Side Square in Jersey City, New Jersey
DevelopmentNew JerseyNewsNortheast

West Side Square Development Fund Breaks Ground on 447-Unit Mixed-Use Development in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — West Side Square Development Fund has begun constructing West Side Square, a mixed-use development located at 66 Broadway in Jersey City. West Side Square will offer 477 apartments, as well as 9,814 square feet of ground-floor retail space. Units will come in studio, one, two and three-bedroom floor plans. Planned amenities include a deck with a swimming pool, grilling stations, outdoor lounge areas, a dog run, fitness center, co-working spaces and a community room for private events. West Side Square Development Fund will oversee the construction …

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Sullivan Parke in Forks Township, Pennsylvania
Investment SalesNewsNortheastPennsylvania

Ashley Development Corp., Black Bear Asset Management Sell Sullivan Parke in Forks Township, Pennsylvania for $35.5 Million

by Channing Hamilton

FORKS TOWNSHIP, PA. — A joint venture between Ashley Development Corp. and Black Bear Asset Management (BBAM) has sold Sullivan Parke, a 102-unit property in the Lehigh Valley community of Forks Township, for $35.5 million. Emil DePasquale and Brandon Harris of Black Bear Capital Partners, a subsidiary of BBAM, arranged $19.2 million in acquisition financing on behalf of the undisclosed buyer. Sullivan Parke consists of four buildings on a seven-acre site. Amenities include multiple fitness centers, lounges and outdoor recreation areas.

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Los Robles Apartments in Thousand Oaks, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $171.3 Million Sale of Two Properties in Thousand Oaks, California

by Channing Hamilton

THOUSAND OAKS, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a two-property, 399-unit portfolio in Thousand Oaks. FPA Multifamily purchased the assets from Decron Properties for $171.3 million. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the seller and procured the buyer. The properties included in the portfolio are Los Robles Apartments and The Retreat at Thousand Oaks. Los Robles Apartments is a 32-building property that offers studio, one- and two-bedroom apartments. Units average 882 square feet in size. Amenities …

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224 W. 124th St. in New York City
FinanceNew YorkNewsNortheast

Dwight Mortgage Trust Provides $100 Million in Bridge Financing for 168-Unit Building in New York City

by Channing Hamilton

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided $100 million in bridge financing for a property located at 224 W. 124th St. in New York City’s West Harlem neighborhood. The borrower and developer, Carthage Real Estate Advisors, will use the proceeds to refinance existing construction debt and fund lease-up of the property and other capital expenditures. The 19-story building was completed earlier this year and comprises 168 units. The community offers one-, two- and three-bedroom apartments, as well as townhomes and penthouse suites. …

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