Wednesday, January 8, 2025
Read the Digital Magazines Subscribe to the Newsletter

Top Story

Vela on Camelback in Phoenix
ArizonaInvestment SalesNewsWestern

Pacific Development Partners Divests of Vela on Camelback in Phoenix for $72 Million

by Channing Hamilton

PHOENIX — Pacific Development Partners has completed the disposition of Vela on Camelback, a 237-unit community located in Phoenix’s Camelback Corridor neighborhood. Sherman Residential purchased the asset for $72 million. Vela on Camelback was built in 2017. The property offers 237 units. Amenities include a sky deck that overlooks the nearby Piestewa Peak and Camelback Mountain, pool and spa area with barbecue pavilion, fitness center, resident lounge with community kitchen, dog wash and fenced dog run, outdoor courtyards and package lockers. The transaction is Sherman Residential’s first acquisition in the Phoenix …

Continue Reading
0 FacebookTwitterLinkedinEmail
261 Grand Concourse and 315 Grand Concourse in New York City
DevelopmentFinanceNew YorkNewsNortheast

SCALE Lending Provides $135 Million Construction Loan for Two Projects in The Bronx

by Channing Hamilton

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $135 million construction loan for 261 Grand Concourse and 315 Grand Concourse, two adjacent buildings currently underway in the Mott Haven neighborhood of The Bronx. Both sites have been vested into New York’s 421a tax abatment program. Once completed in late 2025, the two buildings will rise 14 stories and comprise 405 units altogether. Apartments will come in studio, one- and two-bedroom layouts. The property will also feature 136 parking spaces and a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Peachtree Landing in Fairburn, Georgia
GeorgiaInvestment SalesNewsSoutheast

LRE Management Acquires Three-Property Portfolio in Suburban Atlanta for $102 Million

by Channing Hamilton

ATLANTA — LRE Management has purchased a portfolio of three properties totaling 778 units in the Atlanta metro area for $102 million. The assets included in the portfolio are Eastwood Village in Stockbridge, Monterey Village in Jonesboro and Peachtree Landing in Fairburn. Amenities at each community include a pool and fitness center. The seller was not disclosed. LRE, which assumed mortgage debt in the purchase, plans to renovate select unit interiors, as well as update the amenities and implement new property management.

Continue Reading
0 FacebookTwitterLinkedinEmail
Iron District in Charlotte, North Carolina
DevelopmentNewsNorth CarolinaSoutheast

Trammell Crow Co. to Develop First Phase of 55.5-Acre Mixed-Use Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Trammell Crow Co. has been selected to develop the first phase of Iron District, a 55.5-acre mixed-use project in the Uptown and South End neighborhoods of Charlotte. A subsidiary of Charlotte Pipe and Foundry Co. doing business as Iron District LLC selected Trammell Crow Co. as the developer of the project. Trammell Crow Co. will also assist in the master planning for the overall development. The project team also includes LandDesign, S9 Architecture and Of Place. Upon completion, the first phase of Iron District will feature 500 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Desert Club in Phoenix
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $187.5 Million Sale of Desert Club in Phoenix

by Channing Hamilton

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Desert Club in Phoenix. Clarion Partners sold the property to Weidner Apartment Homes for $187.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Desert Club was built in 2004 on 21 acres. The garden-style community offers 497 units that average 983 square feet. Apartments feature open-concept floor plans, 9-foot ceilings and arched entryways. Community amenities include a pool and spa.

Continue Reading
0 FacebookTwitterLinkedinEmail
737 4th Ave in New York City
DevelopmentNew YorkNewsNortheast

Partnership Tops Out $143 Million Mixed-Income Development in Brooklyn

by Channing Hamilton

NEW YORK CITY — A partnership consisting of BEB Capital, Totem / Ailanthus and SK Development has topped out 737 4th Ave, a $143 million mixed-income development in the Sunset Park neighborhood of Brooklyn. Once completed, the building will comprise 193,000 square feet across 14 stories. The property will comprise 187 units. Of the total unit count, 46 units will be permanently affordable at an average of 48 percent of the area median income. Amenities will include a coworking lounge, fitness center, private dining and entertainment areas, a game and …

Continue Reading
0 FacebookTwitterLinkedinEmail
515 Parkwood Ave in Charlotte, North Carolina
DevelopmentFinanceNewsNorth CarolinaSoutheast

JLL Capital Markets Secures $94 Million Financing for Project in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — JLL Capital Markets has arranged $25 million in joint venture equity and $69 million in construction financing for 515 Parkwood Ave, a 287-unit project located in the Mill District region of Charlotte. The complex will comprise 235,480 square feet across eight stories. Units will come in studio, one-, two-, three- and four-bedroom layouts. Planned amenities include a rooftop deck, courtyard, electric bikes, fitness center, shared dining area and coworking spaces. The property will also feature 2,945 square feet of ground-floor retail space. JLL worked alongside the developer, …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Landing at Arroyo in Simi Valley, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $95 Million Sale of The Landing at Arroyo in Greater Los Angeles

by Channing Hamilton

SIMI VALLEY, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the sale of The Landing at Arroyo in Simi Valley, approximately 40 miles northwest of downtown Los Angeles. The asset traded hands for $95 million.  Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, USA Properties Fund, and procured the buyer, a private multifamily investor. The Landing at Arroyo was built in 2022. The community consists of 212 units across seven buildings on a 10-acre site. Apartments feature washers …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Highlands in Torrance, California
CaliforniaInvestment SalesNewsWestern

CBRE Brokers $71.5 Million Sale of 121-Unit The Highlands in Torrance, California

by Channing Hamilton

TORRANCE, CALIF. — CBRE has arranged the sale of The Highlands, a 121-unit community in the Los Angeles suburb of Torrance. Koto Estates Co. Ltd., an investor based in Japan, purchased the asset from Santa Barbara, California-based Ocean Ten LLC for $71.5 million. Priscilla Nee and Yasuyuki Kojima represented the buyer in the deal. Located at 25935 Rolling Hills Road, The Highlands is situated adjacent to the Rolling Hills and Palos Verdes neighborhoods. Units come in studio, one-, two- and three-bedroom floor plans, according to the property website. Community amenities include an …

Continue Reading
0 FacebookTwitterLinkedinEmail
The Schoolhouse District in Woodinville, Washington
Investment SalesNewsWashingtonWestern

JLL Capital Markets Arranges $77 Million Refinancing for The Schoolhouse District in Seattle Suburb

by Channing Hamilton

WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.