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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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Union West in Chicago
IllinoisInvestment SalesMidwestNews

Tishman Speyer Acquires 15-Story Union West in Chicago’s West Loop for $128 Million

by Channing Hamilton

CHICAGO — Tishman Speyer has acquired Union West, a 15-story high-rise building in Chicago’s West Loop neighborhood. John Jaeger of CBRE represented the seller, a joint venture led by ZOM Living. According to Crain’s Chicago Business, the asset traded hands for roughly $128 million. Union West was built in 2019 at 939 W. Washington Blvd. The property features 357 units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, lounge, entertainment space, a pool, private work and meeting rooms, yoga room, pet spa, dog run and onsite boutique …

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3Eleven in Chicago
IllinoisInvestment SalesMidwestNews

JLL Capital Markets Arranges $76 Million Sale of 245-Unit 3Eleven in Chicago

by Channing Hamilton

CHICAGO — JLL Capital Markets has arranged the sale of 3Eleven, a 245-unit high-rise community in the River North neighborhood of Chicago. Vista Property acquired the property from The John Buck Co. for $76 million. In addition to the sale, JLL worked on behalf of the borrower to secure $47.8 million in acquisition financing through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender. Built in 2018, 3Eleven offers studio, one-, two- and three-bedroom apartments. Units feature quartz countertops, plank flooring, …

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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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