Multifamily

Cushman & Wakefield Arranges $41M Sale of Multifamily Property Near Columbia

by Alex Tostado May 31, 2019

BLYTHEWOOD, S.C. — Cushman & Wakefield has arranged the $41 million sale of Enclave Blythewood, a 384-unit multifamily property in Blythewood, about 18 miles north of Columbia, S.C. Southwood Realty/Triangle Real Estate acquired the community and will rename it The Palisades at Blythewood. The property was built in two phases in 2008 and 2015, and offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, swimming pool, business center, dog park, car care center, fitness center and a putting green. Tai Cohen, Watson Bryant and Jordan McCarley of Cushman & Wakefield represented the seller, McCall Capital, in the transaction.

May 31, 2019

Development Multifamily Texas

Allied Orion Breaks Ground on 281-Unit Apartment Community in New Braunfels

by Taylor Williams May 31, 2019

NEW BRAUNFELS, TEXAS — Allied Orion Group has broken ground on The Retreat at Creekside, a 281-unit multifamily community in New Braunfels, located northeast of San Antonio. Designed by Steinberg Dickery Collaborative LLP, the property will be located within the 400-acre Creekside Town Center master-planned development. Floor plans range from one- to three-bedroom apartments that offer between 722 and 1,440 square feet of living space. Units will feature granite countertops, stainless steel appliances and private balconies or patios. Amenities will include a pool, outdoor grilling areas, a fitness center, resident clubhouse with a cyber lounge and a dog park. The opening is slated for December 2020.

May 31, 2019

Acquisitions Multifamily New York Northeast

Rosewood Realty Arranges $9.6M Sale of Multifamily Building in The Bronx

by Taylor Williams May 31, 2019

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $9.6 million sale of a 54-unit multifamily building in The Bronx. The five-story property, which was originally built in 1925, is located at 2474 Valentine Ave. in the Fordham Heights neighborhood. The buyer and seller were not disclosed. The deal closed at a capitalization rate of 5.5 percent. Aaron Jungreis of Rosewood handled the transaction on behalf of both parties.

May 31, 2019

Loans Multifamily New York Northeast Seniors Housing

Public-Private Partnership Receives $6M Loan for Affordable Senior Living Community in Manhattan

by Taylor Williams May 31, 2019

NEW YORK CITY — A public-private partnership between The Community Preservation Corp. (CPC), Project FIND, the Joint Ownership Entity New York City (JOE NYC) and the New York City Department of Housing Preservation and Development (HPD) has received $6 million in financing for the renovation of Hargrave House. The 113-unit property is an affordable seniors housing community that is located at 111 W. 71st St. Project FIND, a nonprofit that supports low-income seniors, and JOE NYC, a nonprofit that supports affordable housing developers in the city, are the primary sponsors behind the project. The renovation work will upgrade the building’s elevators, energy systems, lobby and façade. Hargrave House was originally built in 1913 as a Renaissance hotel until it was converted into a residential use in the mid-1900s. An additional $3.5 million renovation plan was executed in 2001.

May 31, 2019

Acquisitions Arizona Multifamily Western

Sunrise Luxury Living Sells 282-Unit Apartment Complex in Arizona for $80.4M

by Amy Works May 31, 2019

SCOTTSDALE, ARIZ. — Sunrise Luxury Living has completed the sale of The CORE, a newly built Class A multifamily property in Scottsdale. An undisclosed buyer acquired the 282-unit asset for $80.4 million. Situated on 4.5 acres at 15333 N. Hayden Road, the property features a mix of studio, one- and two-bedroom layouts with nine-foot ceilings, quartz countertops, Whirlpool stainless steel appliances and gas cooktops. Community amenities include a rooftop pool, modern fitness center with yoga/spin room, electric vehicle charging stations and a package locker system. The seller, who owned the land since 2015, completed construction The CORE in 2018. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE represented the seller in the deal.

May 31, 2019

California Development Loans Mixed-Use Multifamily Retail Western

Parkview Financial Provides $31.8M Construction Loan for Mixed-Use Project Near San Diego

by Amy Works May 31, 2019

POWAY, CALIF. — Parkview Financial has funded a $31.8 million construction loan to San Diego-based Poway Property LP for the development of Outpost, a mixed-use project located at 13247 Poway Road in Poway. Upon completion, the three-building property will feature 53 apartment units and ground-floor retail space, which is fully pre-leased to Crunch Fitness and Three Local Brothers. Additionally, the asset will include two levels of underground parking offering a total of 337 parking spaces. The residential portion of the property will feature 16 one-bedroom, 22 two-bedroom and 15 three-bedroom units with stainless steel appliances, stone countertops and engineered hardwood/vinyl flooring. On-site community amenities will include patios, a courtyard, rooftop deck and leasing office. Construction began last summer, with completion slated for 2020.

May 31, 2019

Acquisitions Colorado Multifamily Western

RedPeak Property Acquires 66-Unit Safari Club Apartments in Denver for $16.8M

by Amy Works May 31, 2019

DENVER — RedPeak Property has purchased Safari Club Apartments, a multifamily building in Denver. An undisclosed seller sold the asset for $16.8 million. Located at 990 Logan St., the property features 66 apartments. Marc Lippitt, Scott Shwayder and Justin Herman of Greystone Unique Apartment Group represented the seller in the transaction.

May 31, 2019

Development Illinois Midwest Multifamily Seniors Housing

LCS Completes Renovation, Rebranding of Seniors Housing Community in Illinois

by Kristin Harlow May 31, 2019

GODFREY, ILL. — Life Care Services has completed a renovation project at The United Methodist Village, which has been renamed Asbury Village. The nonprofit continuing care retirement community, which opened in 1997, is located in Godfrey, approximately 25 miles north of St. Louis. The new amenities include communal spaces, a new library, activity areas, fireplace and coffee bar. The community also recently added a new wellness clinic. Life Care Services continues to manage the community, as it has for 17 years.

May 31, 2019

Acquisitions California Multifamily Western

Levin Johnston Brokers $40M Acquisition of 77-Unit Multifamily Asset in Bay Area

by Amy Works May 30, 2019

REDWOOD CITY, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the purchase of 926 Woodside, a multifamily asset at 926 Woodside Road in Redwood City. A private investor acquired the property for $40 million in a 1031 exchange. The seller was not disclosed. Adam Levin, Robert Johnston and Michael Henshaw of the Marcus & Millichap’s Levin Johnston team represented the buyer in the transaction. Situated in the Palm Park neighborhood, the property was originally constructed in 1963 and renovated in 2016. The community features secure gated entry, keyless building entry, elevators, bike storage, electric vehicle chargers, an on-site laundry room and community courtyards with barbecue areas. The property exchange included the sale of four multifamily communities with a combined value of $31.9 million. The properties include 131 Elm Street, a 20-unit multifamily asset in San Mateo, Calif.; Delano Apartments, a 35-unit community in San Jose, Calif.; 560 Charter Street, a 15-unit property in Redwood City; and 1416 Floribunda Avenue, a nine-unit property in Burlingame, Calif.

May 30, 2019

California Development Loans Multifamily Western

JLL Arranges $35M Loan for Refugio Apartments in Santa Maria, California

by Amy Works May 30, 2019

SANTA MARIA, CALIF. — JLL Capital Markets has secured a $35 million loan to facilitate the refinancing and completion of Refugio Apartments, a 125-unit rental townhome community in Santa Maria. Annaly Capital Management provided the loan to the borrower, Dynamic Development Co. Situated on seven acres at 270 W. McCoy Lane, Refugio Apartments comprises seven stucco buildings with 125 luxury townhomes rentals. The two- and three-story units offer three bedrooms, at least 2.5 bathrooms, balconies, attached two-car garages and private backyards in select units. Community amenities include a 3,000-square-foot recreational center with a resort-style swimming pool, year-round spa, barbecue area, business center and resident clubhouse with built-in fitness center. Residents already have taken occupancy in completed portions of Refugio Apartments, with final completion scheduled for June 2019. Aaron Niedermayer, Reid McGlamery, Brian Buglione and Brandon Krupetsky of JLL arranged the financing.

May 30, 2019

Newer Posts

Older Posts