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Sola Westchase in Houston
Investment SalesNewsTexas

Eastham Capital, Mosaic Residential Acquire 318-Unit Sola Westchase in Houston

by Channing Hamilton

HOUSTON — Eastham Capital and Mosaic Residential have partnered to acquire Sola Westchase, a 318-unit community in Houston’s Westchase neighborhood. Eastham Capital has invested in the deal through its current fund, Eastham Capital Fund VI. Mosaic will oversee management services for the property. The acquisition price was not disclosed.  Sola Westchase was built in 1999 and is situated at 3354 Rogerdale Road. The property offers one-, two- and three-bedroom units that range from 626 square feet to 1,436 square feet in size. The average rent at the community is $1,400/month. …

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The Pointe at Hills Farm in Shrewsbury, Massachusetts
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

MassHousing Provides $21 Million for Mixed-Income Community in Shrewsbury, Massachusetts

by Channing Hamilton

SHREWSBURY, MASS. — MassHousing has provided $21 million in financing for The Pointe at Hills Farm, a 93-unit mixed-income community in Shrewsbury. The financing consists of a $10.3 million permanent loan, $7.9 million in tax credit equity and $2.8 million from the agency’s workforce housing initiative. WinnCos. is the borrower and developer. The Pointe at Hills Farm will comprise two three-story buildings. Of the total unit count, 56 will be reserved for households earning 30 to 60 percent of the area median income, and 21 units will be designated as …

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Haven on Long Grove in Naperville Township, Illinois
IllinoisInvestment SalesMidwestNews

Standard Real Estate Investments, The Vistria Group Acquire Haven on Long Grove in Chicago Suburb for $94 Million

by Channing Hamilton

NAPERVILLE TOWNSHIP, ILL. — Standard Real Estate Investments and The Vistria Group have purchased Haven on Long Grove, a 416-unit naturally occurring affordable housing community in the Chicago suburb of Naperville Township. The buyers acquired the property from Pensam Capital for $94 million. The acquisition includes the assumption of an existing, fixed-rate Fannie Mae mortgage serviced by M&T Bank. John Jaeger of CBRE brokered the off-market transaction. Situated on 34 acres, Haven on Long Grove comprises 248 apartment-units and 168 townhomes. Apartment units come in one- and two-bedroom floor plans. Units …

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365 Bond Street in New York City
FinanceNew YorkNewsNortheast

Lightstone Secures $165.5 Million Agency Loan to Refinance 430-Unit Community in Brooklyn

by Channing Hamilton

NEW YORK CITY — Lightstone has received a $165.5 million Freddie Mac loan for the refinancing of a property at 365 Bond Street in Brooklyn’s Gowanus neighborhood. Peter Rotchford, Michael Shmuely, Nicco Lupo, Jeffrey Julien, Rob Hinckley, Steven Rutman, Jonathan Hageman and Hall Oster of JLL originated the five-year, fixed-rate loan. The community was built in 2016 and offers 430 apartment units, as well as 40,000 square feet of amenity space and 30,000 square feet of open green space. Units come in studio, one- and two-bedroom floor plans.

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626 Newark Avenue in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

SCALE Lending Provides $243 Million for Two Buildings in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — SCALE Lending, the debt financing subsidiary of Slate Property Group, has provided two cross-collateralized loans totaling $243 million for two buildings in Jersey City’s Journal Square neighborhood. The borrower was Namdar Group. Drew Fletcher and Bryan Grover of Greystone Capital Advisors arranged the loans. Firstly, SCALE Lending issued a $160 million construction loan for a 27-story tower located at 626 Newark Avenue. The mixed-use development will offer 576 apartments, as well as 9,915 square feet of street-level retail and 17,747 square feet of office space. The project …

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Via Sol in St. Louis Park, Minnesota
Investment SalesMidwestMinnesotaNews

Marcus & Millichap Brokers Sale of 217-Unit Via Sol in St. Louis Park, Minnesota

by Channing Hamilton

ST. LOUIS PARK, MINN. — Marcus & Millichap has brokered the sale of Via Sol, a 217-unit property in St. Louis Park. Via Sol was built in 2022 and offers amenities such as an urban art forest, rooftop terrace, fitness center, and underground parking. Bigos-Via Sol LLC acquired the asset from Place E-Generation One LLC. Abe Roberts, head of the Roberts Group of Marcus & Millichap in Minneapolis, along with IPA’s Will Balthrope and Drew Garza, represented the seller in the deal. Will Tansey of the Felhaber Larson law firm …

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Grove Central in Miami
DevelopmentFloridaNewsSoutheast

Terra, Grass River Property Finish Constructing Grove Central Mixed-Use Development in Miami

by Channing Hamilton

MIAMI — Terra and Grass River Property have completed the construction of Grove Central, a mixed-use development in Miami’s Coconut Grove neighborhood. The project is a public-private partnership between the two Miami-based developers and Miami-Dade County, which owns the land. The project’s design team includes Miami-based Touzet Studio, RSP Architects and Walter Meyer of New York’s Local Office Landscape Architecture. Grove Central comprises a 23-story residential tower, as well as a 1,250-space public parking garage and 170,000 square feet of retail space. The residential tower offers 402 units in layouts …

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Alta Cooley Station in Gilbert, Arizona
ArizonaInvestment SalesNewsWestern

Wood Partners Sells Alta Cooley Station Apartments in Gilbert, Arizona for $80 Million

by Channing Hamilton

GILBERT, ARIZ. — Wood Partners has sold Alta Cooley Station, a 248-unit complex in the Phoenix suburb of Gilbert, to a private individual based in California for $80 million. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction. Alta Cooley Station offers amenities such as a pool, spa, outdoor entertainment space, open-concept leasing office and clubhouse, micro-offices, a private conference room and workspaces. Units feature nine- and 10-foot ceilings, extra-wide entryways, laundry closets with …

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Marisol in Port Charlotte, Florida
DevelopmentFinanceFloridaNewsSoutheast

JLL Capital Markets Arranges $65 Million to Construct 292-Unit Marisol in Port Charlotte, Florida

by Channing Hamilton

PORT CHARLOTTE, FLA. — JLL Capital Markets has arranged $65 million in construction financing and preferred equity for Marisol, a garden-style development in Port Charlotte. The property is located at 1200 Loveland Blvd. and offers 292 units. JLL represented the borrower, Roers Cos., to secure the non-recourse construction loan through Knighthead Funding and the preferred equity through Amzak Capital Management. Christopher Drew, Lee Weaver, Scott Loving, Brian Gaswirth and Shane Ciacci led the JLL Capital Markets Debt Advisory team.

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501 Estates in Durham, North Carolina
Investment SalesNewsNorth CarolinaSoutheast

Cushman & Wakefield Brokers $70 Million Sale of 501 Estates in Durham, North Carolina

by Channing Hamilton

DURHAM, N.C. — Cushman & Wakefield has arranged the $70 million sale of 501 Estates, a 270-unit community in Durham. Jefferson Apartment Group and Stars REI purchased the property from Spyglass Capital Partners LLC. Alex McDermott and Hunter Bowling of Cushman & Wakefield represented the seller in the transaction. 501 Estates was built in 2001 near Durham-Chapel Hill Boulevard. The community offers a mix of garden units, townhomes and cottages. Amenities include a 3,000-square-foot fitness center, pool, dog park, detached garages and billiards room. 

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