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Golden Triangle Station in Eden Prairie, Minnesota

JLL Arranges $69 Million in Construction Financing for Golden Triangle Station Near Minneapolis

by Channing Hamilton August 29, 2023

EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged $69 million in joint venture equity and construction financing for Golden Triangle Station, a 237-unit development in the Minneapolis suburb of Eden Prairie. A regional bank provided a $47 million construction loan, and Amstar Group provided $22 million in joint venture equity. Josh Talberg, Scott Loving, Matthew Schoenfeldt, Colin Ryan, Dan Linnell and Mox Gunderson of JLL represented the sponsor, Greco and Eagle Ridge Partners. The project is set to break ground this fall. Of the total unit count, 25 percent will …

August 29, 2023

Investment Sales Midwest Minnesota News

JLL Brokers $74.7 Million Sale of Millennium Edina in Minneapolis Suburb

by Channing Hamilton August 28, 2023

EDINA, MINN. — JLL Capital Markets has arranged the sale of Millennium Edina, a 227-unit mid-rise community in the Minneapolis suburb of Edina. A private investor acquired the asset from a joint venture between Dakota Pacific Real Estate and Landmark Cos. for $74.7 million. JLL worked on behalf of the new owner to secure the financing. The loan will be serviced by JLL Real Estate Capital, a Fannie Mae DUS lender. Millennium Edina was built in 2021. The property offers features studio, one-, two- and three-bedroom units. Amenities include a game room, …

August 28, 2023

Investment Sales News Southeast Virginia

JLL Brokers $85.6 Million Sale of Arbors at Fair Lakes in Fairfax, Virginia

by Channing Hamilton August 24, 2023

FAIRFAX, VA. — JLL Capital Markets has arranged the sale of Arbors at Fair Lakes, a 282-unit, value-add community in Fairfax. Stockbridge sold the property to GID for $85.6 million. Bret Thompson and Robert Jenkins led the Capital Markets Investment Sales Advisory team that brokered the deal. Arbors at Fair Lakes was built in 1987. The property features one-, two- and three-bedroom units with in-unit washers and dryers, patios and balconies, fireplaces and walk-in closets. Amenities include a fitness center, pool, business center, tennis court with a perimeter running track, …

August 24, 2023

Development Finance New Jersey News Northeast

JLL Arranges $193 Million Loan to Construct High-Rise Building in Jersey City, New Jersey

by Channing Hamilton August 23, 2023

JERSEY CITY, N.J. — JLL has arranged a $193 million loan for the construction of Pathside, a 605-unit high-rise community in the New York City suburb of Jersey City. The property will be built in Jersey City’s Journal Square neighborhood. Pathside will feature studio, one-, two- and three-bedroom apartments, as well as 3,200 square feet of ground-floor commercial space. The borrower, Panepinto Properties Inc., plans to deliver Pathside in the second quarter of 2026. Thomas Didio, Thomas Didio Jr., Gerard Quinn and Salvatore Buzzerio of the debt advisory team at JLL …

August 23, 2023

CityHouse Ashburn Station in Ashburn, Virginia

Development Investment Sales News Southeast Virginia

AREP, GreenBarn Acquire Build-to-Rent Development Site in Ashburn, Virginia, for $120 Million

by Channing Hamilton August 22, 2023

ASHBURN, VA. — A partnership between American Real Estate Partners (AREP) and GreenBarn Investment Group has acquired a development site in the Northern Virginia city of Ashburn, approximately 30 miles west of Washington, D.C. Dream Finders Homes sold the property to the partnership for $120 million. The site is approved for the construction of 200 build-to-rent homes. The community will be called CityHouse Ashburn Station. According to the property website, CityHouse Ashburn Station will offer three-bedroom units with an average size of 2,000 square feet. Amenities will include sports courts, …

August 22, 2023

Affordable Housing Development Finance Illinois Iowa Michigan Midwest News North Carolina Southeast Virginia

Woda Cooper Cos. Secures $67 Million for Five Affordable Housing Communities Across U.S.

by Channing Hamilton August 21, 2023

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …

August 21, 2023

Investment Sales News Washington Western

JLL Brokers $125 Million Sale of Radiate Apartments in Redmond, Washington

by Channing Hamilton August 18, 2023

REDMOND, WASH. — JLL Capital Markets has arranged the sale of Radiate Apartments, a 360-unit luxury community in the eastern Seattle suburb of Redmond. Jackson Square Properties acquired the asset from Fairfield Residential for $125 million. David Young, Corey Marx, Ira Virden, Chris Ross, Jordan Louie, Michael Lyford and Reed Curtis led the JLL investment sales and advisory team that represented the seller and procured the buyer. Radiate Apartments was built in 2021. The community offers 360 apartments in studio, one- and two-bedroom floor plans. Units feature full-size washers and dryers, …

August 18, 2023

Averly Lake Worth in Lake Worth, Florida

Development Finance Florida News Southeast

Meyers Accesso Secures $46.2 Million to Construct Avery Lake Worth in Lake Worth, Florida

by Channing Hamilton August 17, 2023

LAKE WORTH, FLA. — Meyers Accesso has secured $46.2 million in construction financing for the development of Avery Lake Worth, a 200-unit community in Lake Worth. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach debt and equity team arranged the financing through a life insurance company. The lender provided financing with an additional mezzanine loan structure. Avery Lake Worth will comprise two buildings on a 5-acre site. Units will come in studio, one- and two-bedroom layouts. Amenities will include gated access, a clubhouse, fitness center, pool with …

August 17, 2023

Development Georgia Leasing & Marketing News Southeast

CA Ventures Opens 33-Story 903 Peachtree Apartment Tower in Atlanta

by Channing Hamilton August 16, 2023

ATLANTA — CA Ventures has opened 903 Peachtree, a 33-story high-rise building in Atlanta’s Midtown neighborhood. The development team also includes Diamond Realty Investments and Cartel Properties. Cartel Properties is both a development partner and is leading the retail leasing assignment on behalf of the ownership group. Lincoln Property Co. is the property manager. 903 Peachtree offers 427 units in studio, one-, two- and three-bedroom floor plans, as well as 9,000 square feet of retail space. Units feature stainless steel appliances, in-unit washers and dryers, floor-to-ceiling windows and private balconies …

August 16, 2023

Development Florida Investment Sales News Southeast

Avison Young Brokers $38 Million Sale of Dolphin Square Development Site in Miami

by Channing Hamilton August 15, 2023

MIAMI — Avison Young has arranged the sale of a 7.9-acre development site at 1556 110th Ave. in Miami. Boca Raton, Fla.-based Procacci Development Corp. sold the asset for $38 million. The buyer was not disclosed. David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts of Avison Young arranged the transaction on behalf of the seller. The site is approved for a 690-unit, 10-story project called Dolphin Square. Leo A Daly designed the current site plan for the project, which is located near Dolphin Mall.

August 15, 2023

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