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One Riverwalk in Knoxville, Tennessee
Investment SalesNewsSoutheastTennessee

Passco, Greystone Acquire One Riverwalk in Knoxville, Tennessee, for $120.7 Million

by Channing Hamilton

KNOXVILLE, TENN. — A joint venture between Passco Cos. and Greystone has purchased One Riverwalk, a 303-unit community located at 151 E. Blount Ave. in Knoxville. The joint venture acquired the property from the developer, Southeastern, for $120.7 million. The buyers assumed a 10-year Fannie Mae loan totaling $64.3 million that was underwritten with a 3.12 percent fixed interest rate and three years of interest-only payments remaining. Built in 2019, One Riverwalk is situated on a 3.4-acre site along the Tennessee River and just over the Henley Street Bridge from …

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Canvas at Savannah in Savannah, Georgia
FinanceGeorgiaInvestment SalesNewsSoutheast

CBRE Provides $27.7 Million Loan to Acquire Affordable Housing Community in Savannah, Georgia

by Channing Hamilton

SAVANNAH, GA. — CBRE has provided a $27.7 million acquisition loan for Canvas at Savannah, a 300-unit affordable housing community located at 5110 Garrard Ave. in Savannah. Blake Cohen of CBRE’s Atlanta office originated the Freddie Mac loan on behalf of the borrower, Miami-based One Real Estate Investment. The seller was not disclosed. Canvas at Savannah was built in 2003 and recently renovated. The garden-style community features one-, two- and three-bedroom units, as well as amenities such as a fitness center, coffee bar, package lockers and a pool.

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Parcel H in North Bethesda, Maryland
DevelopmentMarylandNewsNortheast

JLL Capital Markets Arranges $92.3 Million to Construct Parcel H in North Bethesda, Maryland

by Channing Hamilton

NORTH BETHESDA, MD. — JLL Capital Markets has arranged a $92.3 million loan to construct a 354-unit, 12-story project in the Washington, D.C. suburb of North Bethesda. The development is dubbed Parcel H and is located at at 5400 McGrath Blvd. Jon Mikula, Jim Cadranell, Jamie Leachman and Ryan Carroll of JLL Capital Markets arranged the four-year, floating-rate loan through SMBC on behalf of the borrower, LCOR. Upon completion, the community will offer one-, two- and three-bedroom units, as well as nine penthouse units. Units average 881 square feet in …

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Post District in Salt Lake City
FinanceNewsUtahWestern

Walker & Dunlop, Affinius Capital, Clarion Partners Broker $157.5 Million to Refinance Mixed-Use Development in Salt Lake City

by Channing Hamilton

SALT LAKE CITY — Walker & Dunlop, Affinius Capital and Clarion Partners have arranged $157.5 million in loan proceeds to refinance Post District, a mixed-use complex in downtown Salt Lake City. Post District consists of 580 residential units across four buildings, as well as approximately 26,000 square feet of retail space. The complex is part of a three-phase project. The Walker & Dunlop New York Capital Markets team — led by Sean Reimer, Mo Beler, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland and William Herring — co-originated the loan with Affinius Capital and Clarion Partners. …

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The Boulders Apartments in Walnut Creek, California
CaliforniaInvestment SalesNewsWestern

Granite Capital Purchases The Boulders Apartments in Walnut Creek, California, for $58 Million

by Channing Hamilton

WALNUT CREEK, CALIF. — Granite Capital Group (GCG) has acquired The Boulders Apartments in Walnut Creek, a city located within the San Francisco Bay Area. Institutional Property Advisors’ Northern California team brokered the deal. GCG purchased the property from an undisclosed seller for $58 million. The company used proceeds from the sale of its Enclave Belle Creek apartments in Denver to fund the acquisition using a 1031 tax-deferred exchange. The Boulders Apartments was built in 1972. The community offers 164 apartments in one- and two-bedroom layouts. Units feature washers and dryers, vinyl …

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Discovery Park in Lee’s Summit, Missouri
DevelopmentMidwestMissouriNews

Intrinsic Development Breaks Ground on $900 Million Discovery Park in Lee’s Summit, Missouri

by Channing Hamilton

LEE’S SUMMIT, MO. — Intrinsic Development has broken ground on Discovery Park, a $900 million mixed-use project in the southeast Kansas City suburb of Lee’s Summit. Plans for Discovery Park include 2,791 apartments within a development named Alura, as well as two hotels, office space, medical office buildings and retail space. The 3.9 million-square-foot development will span 268 acres near I-470 and Saint Luke’s East Hospital. Discovery Park will be constructed in four phases from now until 2031. The first phase is The Village, which will include 585 apartment units, …

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St. Regis Residences in Boston
FinanceMassachusettsNewsNortheast

Cottonwood Group Provides $240 Million in Financing for St. Regis Residences in Boston

by Channing Hamilton

BOSTON — Cottonwood Group, a Los Angeles-based private equity real estate firm, has provided $240 million in senior mortgage financing for the St. Regis Residences in Boston’s Seaport District. The borrower was Cronin Development. The high-rise development features 114 apartments across 22 stories. Amenities include a pool, spa, fitness center, lounge, concierge services and an onsite restaurant.

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NOVO Broadway Apartments in Tempe, Arizona
ArizonaInvestment SalesNewsWestern

MG Properties Acquires NOVO Broadway Apartments in Tempe, Arizona, for $100.2 Million

by Channing Hamilton

TEMPE, ARIZ. — MG Properties has purchased NOVO Broadway Apartments, a recently built apartment community in the eastern Phoenix suburb of Tempe, from Evergreen Devco Inc. for $100.2 million. The seller originally delivered the property as Parc Broadway in 2022. According to Apartments.com, NOVO Broadway Apartments totals 324 units in studio, one-, two- and three-bedroom floor plans. Units range in size from 632 to 1,262 square feet and feature stainless steel appliances, wood-style flooring, individual washers and dryers, and private balconies or patios. Amenities include a pool, fitness center, outdoor …

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Kahului Civic Center Mixed-Use Complex in Kahului, Hawaii
Affordable HousingDevelopmentHawaiiNewsWestern

EAH Housing Selected to Develop $193 Million Kahului Civic Center Mixed-Use Complex in Kahului, Hawaii

by Channing Hamilton

KAHULUI, HAWAII — The Hawaii Housing Finance and Development Corp. (HHFDC) has selected EAH Housing to develop the Kahului Civic Center Mixed-Use Complex in Kahului, on the island of Maui. The property will include a transit hub, civic center and 303 units of affordable housing. The Kahului Civic Center Mixed-Use Complex will be constructed in phases as part of a public-private partnership. EAH Housing will coordinate the development of the civic center with the State of Hawaii Department of Accounting and General Services, the transit hub with the County of …

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The Fitzgerald in Denver
ColoradoFinanceNewsWestern

JLL Capital Markets Arranges $99 Million Refinancing for The Fitzgerald in Denver

by Channing Hamilton

DENVER — JLL Capital Markets has arranged a $99 million refinancing for The Fitzgerald, a 282-unit property in Denver’s LoDo neighborhood. Charles Halladay, Jordan Angel, Andy Scott, Rob Bova and Ethan Habecker of JLL Capital Markets Debt Advisory secured the floating-rate, three-year loan through Otera Capital. The borrower was Greystar.  Built at 1840 Market St. in 2022, The Fitzgerald rises 11 stories and offers studio, one- and two-bedroom units. Units feature stainless steel appliances, quartz countertops, wood-style furniture and an average size of 963 square feet. Amenities include an indoor/outdoor …

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