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Stadia Med Main Apartments in Houston
Affordable HousingFinanceNewsTexas

NewPoint Provides Loan to Refinance 338-Unit Stadia Med Main Apartments in Houston

by Channing Hamilton

HOUSTON — NewPoint Real Estate Capital provided a Targeted Affordable Housing loan to Aspen Oak Capital Partners (Aspen Oak) through Freddie Mac. The loan refinanced a NewPoint Bridge Loan that facilitated Aspen Oak’s acquisition of Stadia Med Main Apartments in April 2022. The fixed-rate refinance features a seven-year term and a 35-year amortization schedule. Stadia Med Main Apartments is a four-story, 338-unit property in Houston’s Medical Center/West University submarket. The community offers affordable and market rate units in one- and two-bedroom layouts. Income restrictions for the affordable units were not …

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Natura Gardens in Miami, Florida
DevelopmentFloridaLeasing & MarketingNewsSoutheast

Terra Completes 460-Unit Natura Gardens Apartments in Miami

by Channing Hamilton

MIAMI — South Florida-Based developer Terra has completed Natura Gardens, a garden-style community in Miami’s West Hialeah neighborhood. Leasing is now underway for the asset, with rents ranging from approximately $2,000 per month to $3,350 per month. Natura Gardens offers one-, two- and three-bedroom units. Amenities include a two-story clubhouse with a pool and spa, outdoor kitchen and grilling area, children’s playroom, lounge, fitness center, business center and a dog park. Natura Gardens was designed by Pascual, Perez, Kiliddjian Architecture. Interior design for the clubhouse and model units was conducted …

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8 Marcy Ave. in Williamsburg, Brooklyn
Investment SalesNew YorkNewsNortheast

Carlyle Group, Z+G Property Group Acquire 8 Marcy Ave. in Williamsburg, Brooklyn for $97.5 Million

by Channing Hamilton

BROOKLYN, N.Y. — A joint venture between The Carlyle and Z+G Property Group has acquired 8 Marcy Ave., an eight-story building in the Brooklyn neighborhood of Williamsburg, from Prospect Development for $97.5 million. JLL Capital Markets brokered the deal. The building was delivered in January. The community offers studio, one- and two-bedroom floor plans. Of the total 123 units, 37 are affordable. Income restrictions for these units were not disclosed. The JLL Capital Markets Investment Sales and Advisory team representing the seller included Ethan Stanton, Jeffrey Julien, Brendan Maddigan, Stephen Palmese, …

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1072 West Peachtree in Atlanta
DevelopmentFinanceGeorgiaNewsSoutheast

Rockefeller Group Begins Development of 1072 West Peachtree Mixed-Use Tower in Atlanta

by Channing Hamilton

ATLANTA — Rockefeller Group has broken ground on 1072 West Peachtree, a mixed-use high-rise development in Midtown Atlanta. Sumitomo Mitsui Trust Bank Ltd. is providing a senior loan to Rockefeller Group to construct the project. A joint venture between Rockefeller, Japan-based Taisei USA LLC and Mitsubishi Estate New York is providing equity. TVS is the lead architect. The tower will offer more than 350 apartments, as well as 224,000 square feet of office space and 6,300 square feet of street-level retail space. According to Rockefeller Group, the tower is slated …

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A property in Miami Lakes, Florida
FinanceFloridaNewsSoutheast

Northmarq Arranges $70 Million in Financing for Two Properties in Miami Lakes, Florida

by Channing Hamilton

MIAMI LAKES, FLA. — Northmarq has arranged $70 million in financing for two properties in the Miami, Florida suburb of Miami Lakes. The borrower was The Graham Cos. Jeff Robertson of Northmarq’s Fort Lauderdale debt and equity office brokered the 10-year permanent loan through Empower Annuity Life Insurance Co. The properties were built in 1997 and 2000, respectively, and offer a combined total of 500 units. The names and addresses of the communities were not disclosed.

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Azalea Apartments in Tampa, Florida
DevelopmentFloridaInvestment SalesNewsSoutheast

Trilogy Real Estate Group Acquires Azalea Apartments in Tampa, Florida for $85.8 Million

by Channing Hamilton

TAMPA, FLA. — Trilogy Real Estate Group has purchased Azalea Apartments, a 289-unit community currently under construction in the Tampa neighborhood of Brandon, for $85.8 million. ZOM Living sold the asset to Trilogy Real Estate Group and will continue to manage its construction through completion. The property is in a qualified opportunity zone and benefits from the provisions of the 2017 Tax Cuts and Jobs Act. Azalea Apartments will offer one-, two- and three-bedroom apartments, with the first move-ins expected to begin this quarter. Each unit includes energy-efficient, stainless steel …

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The Paseos at Montclair in Montclair, California
CaliforniaFinanceInvestment SalesNewsWestern

Archway Equities Acquires Inland Empire Community for $150 Million

by Channing Hamilton

MONTCLAIR, CALIF. — Archway Equities has acquired The Paseos at Montclair, a 385-unit community in the Inland Empire city of Montclair, for $150 million. Pacific Urban Investors’ Structured Finance Group provided preferred equity to facilitate the transaction. The Paseos at Montclair was built in 2014. The garden-style community offers studio, one-, two- and three-bedroom units. Amenities include two pools with spas and cabanas, a fitness center, yoga room, children’s entertainment suite, conference center and entertainment lounge.

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Soltra at SanTan Village in Gilbert, Arizona
ArizonaInvestment SalesNewsWestern

CBRE Brokers $140 Million Sale of Soltra at SanTan Village in Phoenix Suburb

by Channing Hamilton

GILBERT, ARIZ. — The Premiere Residential has acquired Soltra at SanTan Village, a 380-unit community in the southeast Phoenix suburb of Gilbert, from Leon Multifamily for $140 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller. Soltra at SanTan Village was built in 2021 at 1690 South San Tan Village Pkwy. Units come in studio, one- and two-bedroom layouts. Amenities include a clubhouse with an entertainment table, fitness center and pool with a swim-up hospitality bar and cabanas.

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Venetian Apartments in Fort Myers, Florida
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $217 Million Recapitalization for Three-Property Portfolio in Central Florida

by Channing Hamilton

ORLANDO AND FORT MYERS, FLA. — Berkadia has arranged $217 million in debt and equity financing for the recapitalization of a portfolio in Orlando and Fort Myers. Mitch Sinberg, Brad Williamson, Scott Wadler and Matthew Robbins of Berkadia South Florida arranged the financing on behalf of the borrower, a joint venture between JSB Capital Group and BLD Group. Freddie Mac provided a $185.4 million, fixed-rate loan with a 10-year term at a 60 percent loan-to-value. Related Fund Management provided $31.8 million in preferred equity.  The portfolio comprises 1,139 units across …

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Dobson Station in Mesa, Arizona
ArizonaDevelopmentFinanceNewsWestern

StarPoint Properties Secures $52 Million to Develop Dobson Station in Mesa, Arizona

by Channing Hamilton

MESA, ARIZ. — StarPoint Properties has procured $52 million for the construction of Dobson Station, a 245-unit community in Mesa. Jeff Sause, Wyatt Strahan and Elle Miraglia of JLL Capital Markets arranged the construction financing for the project through a debt fund. Dobston Station will rise four stories and offer studio, one- and two-bedroom units. Amenities will include a fitness center, clubhouse, coworking facility and community kitchen. On-site parking will include a mix of tuck-under and grade-level parking. Development is slated for completion in 2024.

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