Top Story

Woodlands of Crest Hill in Crest Hill, Illinois

JLL Capital Markets Brokers $95 Million Sale of Woodlands of Crest Hill in Chicago Suburb

by Channing Hamilton November 2, 2023

CREST HILL, ILL. — JLL Capital Markets has negotiated the $95 million sale of Woodlands of Crest Hill, a 730-unit community in the southwest Chicago suburb of Crest Hill. Kevin Girard, Mark Stern and Zach Kaufman led the JLL Investment Sales Advisory team that represented the sellers, a fund managed by DRA Advisors and Marquette Cos. The buyer was not disclosed. Woodlands of Crest Hill was built in 1972 and has undergone various renovations since 2018. The property offers studio, one- and two-bedroom units, with an average size of 649 square feet. Amenities …

November 2, 2023

California Investment Sales News Western

IPA Arranges $106.6 Million Sale of 280-Unit Summerset Village in Los Angeles

by Channing Hamilton November 1, 2023

LOS ANGELES — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summerset Village in the Chatsworth neighborhood of Los Angeles. An institutional buyer purchased the asset from an undisclosed seller for $106.6 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer. Summerset Village was built in 1986. The community comprises 280 apartments across 39 two-story buildings. Select units feature fireplaces, patios and direct access garages. Amenities include two pools, two hot tubs, a beach volleyball …

November 1, 2023

20 and 30 Halletts Point in New York City

Development New York News Northeast

The Durst Organization Tops Out 647-Unit 20 and 30 Halletts Point in Queens

by Channing Hamilton October 31, 2023

NEW YORK CITY — The Durst Organization has topped out 20 and 30 Halletts Point, a 647-unit complex in the Queens borough of New York City. 20 and 30 Halletts Point consists of a 27-story building and a 32-story building in the Astoria neighborhood. Apartments will come in studio, one- and two-bedroom layouts. Planned amenities include a fitness center, rooftop terraces, resident lounges and a children’s play area, as well as ground-floor retail space and onsite parking. The buildings are slated for delivery in 2025. Urban Atelier Group is the …

October 31, 2023

Marine Drive Apartments in Buffalo, New York

Affordable Housing Development New York News Northeast

Habitat Secures Approval for $400 Million Affordable Housing Redevelopment in Buffalo, New York

by Channing Hamilton October 30, 2023

BUFFALO, N.Y. — Habitat, a developer and property manager based in Chicago, has received planned unit development approval from the Buffalo Common Council to redevelop Marine Drive Apartments. The $400 million project is a joint venture between Habitat, Duvernay + Brooks and the Buffalo Municipal Housing Authority. The property currently comprises 616 units across seven 12-story towers, which were built more than 70 years ago and have since fallen into disrepair. Phase one of the redevelopment will include constructing a mix of new towers on the lot adjacent to the complex’s current buildings. …

October 30, 2023

California Finance News Western

Barings Real Estate Secures $115 Million Loan for The Ventana Luxury Apartments in Los Angeles

by Channing Hamilton October 27, 2023

LOS ANGELES — Barings Real Estate has secured $115 million in financing for The Ventana Luxury Apartments, a 405-unit complex within the master-planned community of Playa Vista in Los Angeles. Chris Drew, Annie Rose, Brandon Smith and Gyasi Edmondson of JLL Capital Markets Debt Advisory secured the cash-neutral, five-year loan on behalf of the borrower. The financing features full-term interest-only payments. The use of the funds was not disclosed. The Ventana Luxury Apartments was built in two phases in 2007. The community offers studio, one-, two- and three-bedroom units with an …

October 27, 2023

Development Leasing & Marketing News Utah Western

Crescent Communities Opens NOVEL Daybreak in Salt Lake City Suburb

by Channing Hamilton October 26, 2023

SOUTH JORDAN, UTAH — Crescent Communities has opened NOVEL Daybreak, a 400-unit community in the Salt Lake City suburb of South Jordan. MAA provided construction financing for the project’s development, while Kier Construction acted as the general contractor. Craine Architecture and CID Design Group designed the complex. NOVEL Daybreak is located 10678 S. Lake Run Road in South Jordan’s Daybreak community. The property features a mix of studio, one- and two-bedroom apartments with quartz countertops, stainless steel sinks and kitchen islands with pendant lighting. Amenities include a coffee lounge, fitness …

October 26, 2023

Sangre De Cristo Apartments in Santa Fe, New Mexico

Affordable Housing Development Investment Sales New Mexico News Western

CPP Acquires Two Affordable Communities in Santa Fe, New Mexico, for $41.8 Million

by Channing Hamilton October 25, 2023

SANTA FE, N.M. — Community Preservation Partners (CPP) has acquired two affordable housing developments in Santa Fe, Sangre De Cristo Apartments and Santa Fe Apartments, for $41.8 million. The developer also plans to invest a further $51.9 million to renovate both properties. Once renovated, the two communities will be restricted to households earning below 60 percent of the area median income and will continue to benefit from project-based rental assistance. Santa Fe Apartments is located at 255 Camino Alire. The property features 64 units and was built in 1968. Sangre …

October 25, 2023

Investment Sales News Texas

Greysteel Arranges Sale of 274-Unit Park at Rialto in San Antonio, Texas

by Channing Hamilton October 24, 2023

SAN ANTONIO, TEXAS — Greysteel has brokered the sale of Park at Rialto, a 274-unit community located in the northwest side of San Antonio. J.R. Ellis and Matthew Romanchuk of Greysteel’s national multifamily team negotiated the sale on behalf of the buyer and seller. Both the buyer and the seller were undisclosed. Park at Rialto was built in 2017. The garden-style community offers amenities such as a pool, media lounge and exercise center.

October 24, 2023

NOVEL Harpeth Heights in Nashville, Tennessee

Investment Sales News South Carolina Southeast Tennessee

Crescent Communities Sells Two Southeast Communities Totaling 642 Units

by Channing Hamilton October 23, 2023

NASHVILLE, TENN. AND CARY, N.C. — Crescent Communities has sold two communities totaling 642 units in the Southeast. TA Realty acquired both assets from the Charlotte-based developer for an undisclosed price. The first property, NOVEL Harpeth Heights, comprises 322 apartments in Nashville. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, spa and fitness center. Crescent Communities developed the property in partnership with Pearl Street Partners. The second property, NOVEL Cary, features 320 units in studio, one-, two- and three-bedroom floor plans within the Raleigh suburb …

October 23, 2023

Development New York News Northeast

Soloviev Group Plans 1,325 Apartments as Part of New York City Mixed-Use Project

by Channing Hamilton October 20, 2023

NEW YORK CITY — Soloviev Group plans to build two residential towers in Manhattan as a part of the Freedom Plaza mixed-use development, a six-acre, three-block project proposed along the East River in Manhattan. The two high-rise buildings will offer 1,325 residential units, including 513 affordable units. Current plans for Freedom Plaza feature 4.8 acres of publicly accessible green space; a hotel; retail and restaurant space; a museum; the residential towers; and a casino. Local news outlets report that adding affordable housing to the development plans is a move to …

October 20, 2023

Newer Posts

Older Posts