Multifamily

Brand Properties Breaks Ground on 295-Unit Apartment Community in Metro Atlanta

by Camren Skelton August 7, 2017

PEACHTREE CORNERS, GA. — Brand Properties has broken ground on Echo Lakeside, a 295-unit multifamily property located at 510 Guthridge Court in Peachtree Corners, roughly 22 miles north of Atlanta. In addition to Atlanta-based Brand Properties, the project team includes architect Niles Bolton & Associates, general contractor Oxford Construction, landscape architect HGOR and property management firm Woodward Management Partners. Echo Lakeside will include one- and two-bedroom floor plans with rents ranging from $1,000 to $1,900. Situated on 14.5 acres, the property will feature a clubhouse, fitness center, pool with a sun terrace, dog park and hiking and biking trails. The project is slated for completion in summer 2018.

August 7, 2017

Iowa Midwest Multifamily

Draper and Kramer Sells Office Building in Des Moines, Iowa for $30.2M

by Kristin Harlow August 7, 2017

DES MOINES, IOWA — Draper and Kramer Inc. has sold Capital Square in downtown Des Moines to Real Capital Solutions for $30.2 million. Designed by Skidmore, Owings & Merrill, the 454,619-square-foot office building is located at 400 Locust St. Draper and Kramer developed the eight-story building in 1983. Tenants include The Des Moines Register, RSM McGladrey, Life Care Services, BH Equities and Iowa State University. CBRE represented Draper and Kramer in the sale transaction.

August 7, 2017

Illinois Midwest Multifamily

297-Unit Luxury Apartment Complex Opens in Itasca, Illinois

by Kristin Harlow August 7, 2017

ITASCA, ILL. — M&R Development has opened The Residences at Hamilton Lakes in Itasca, 27 miles northwest of Chicago. The 297-unit luxury apartment complex is located adjacent to the Hamilton Lakes Business Park. A joint venture between Itasca-based M&R Development and Hamilton Partners and Chicago-based POB Capital LLC developed the property. The Residences at Hamilton Lakes includes three four-story buildings offering a mix of studio, one-, two- and three-bedroom floor plans. Rental prices range from $1,340 to $3,180. Amenities include an outdoor pool with cabanas, media room, fully equipped gym, business center and demonstration kitchen along with a spa, sauna and steam room. Chicago-based RMK Management manages the property.

August 7, 2017

Iowa Midwest Multifamily Seniors Housing

Darland Transforms Former School Into Affordable Seniors Housing Property in Council Bluffs, Iowa

by Kristin Harlow August 7, 2017

COUNCIL BLUFFS, IOWA — Darland Construction Co. has completed a renovation of and addition to Gunn School, transforming the 90-year-old building into an affordable seniors housing property in Council Bluffs, a suburb of Omaha, Neb. Known as Linden Place, the 42,265-square-foot complex consists of 36 units. Sixteen of the apartment units are located in the renovated school, while the remaining 20 units are part of a new, two-story addition built on what was once the school’s basketball courts and playground. Gunn School was originally built in 1880 and then rebuilt on the same site in 1924. The school was originally slated to be torn down before Seldin Co. showed interest in rehabbing the building. The project was made possible through a series of community and economic development grants. Architecture One provided architectural services.

August 7, 2017

Loans Midwest Missouri Multifamily

NorthMarq Arranges $4.3M Acquisition Loan for Apartment Property in Kansas City, Missouri

by Kristin Harlow August 7, 2017

KANSAS CITY, MO. — NorthMarq Capital has arranged a $4.3 million loan for the acquisition of The Devereaux Apartments in Kansas City. The 60-unit apartment property, built in 1967, is located at 3624 Warwick Blvd. Noah Juran of NorthMarq arranged the three-year loan. A bridge lender provided the loan for the undisclosed borrower.

August 7, 2017

Multifamily Texas

Talos Holdings to Develop 300-Unit Apartment Community in Fort Worth

by Taylor Williams August 7, 2017

FORT WORTH, TEXAS — Talos Holdings will develop The View of Fort Worth, a 300-unit multifamily community located along Northside Drive near Interstate 35 in Fort Worth. Amenities will include a pool, fitness center, game room and pet park. Construction is expected to begin this month with the first units ready for occupancy by late 2018. CBG Building Co. will serve as general contractor for the project, which was designed by Dallas-based BGO Architects and could ultimately feature a second, 200-unit phase of construction. Justin Shuart, Jason Pumpelly and Brian Park of Cushman & Wakefield arranged construction financing for the project through Endeavor Real Estate Partners.

August 7, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $13M Acquisition Loan for Seniors Housing Community in Tulsa

by Taylor Williams August 4, 2017

TULSA, OKLA. — KeyBank Real Estate Capital has arranged a $13 million Freddie Mac loan for the acquisition of Legend at Tulsa Hills, an 86-unit seniors housing community located at 701 W. 71st St. S in Tulsa. Built in 2014, the property comprises of 68 assisted living units and 18 Alzheimer’s care units. Monique Bimler of KeyBank structured the loan, which features a 10-year term and 30-year amortization schedule.

August 4, 2017

Indiana Midwest Multifamily

Covenant Capital Acquires 398-Unit Multifamily Property in Indianapolis for $30.2M

by Kristin Harlow August 4, 2017

INDIANAPOLIS — Covenant Capital Group LLC has acquired Columns of Castleton in Indianapolis for $30.2 million. The 398-unit multifamily property is located at 7615 Ivywood Drive. Covenant plans to invest over $4.7 million to modernize the property. In addition to renovating the apartment interiors and amenities, Covenant will implement a green program by installing energy-efficient appliances and LED lighting. The purchase price amounts to $76,005 per unit.

August 4, 2017

Georgia Multifamily Southeast

Covenant Capital Sells Apartment Community in Metro Atlanta for $32M

by Camren Skelton August 4, 2017

SANDY SPRINGS, GA. — Covenant Capital Group LLC has sold Veridian Sandy Springs, a 272-unit multifamily community located at 1800 Windridge Drive in Sandy Springs, roughly 17 miles north of Atlanta. Veridian Sandy Springs Apartment LP acquired the property for $32 million. Nashville-based Covenant originally purchased the apartment community in August 2013 for $15.3 million, and invested $4.8 million in updates and renovations, including new exterior siding and windows, new appliances and granite countertops in units, renovation of the clubhouse and new equipment in the fitness center. Veridian Sandy Springs also features a lighted tennis court, swimming pool, grilling areas and a dog park.

August 4, 2017

Mixed-Use Multifamily New York Northeast Retail

Lalezarian Properties Tops Out 38-Story Mixed-Use Tower in Manhattan

by Amy Works August 4, 2017

NEW YORK CITY — Lalezarian Properties has topped out 515 West 36th Street, a mixed-use tower located on Manhattan’s West Side. Designed by Ismael Leyva Architects, the 38-story, 248,000-square-foot tower will feature 13,000 square feet of commercial retail space on the cellar level, groundfloor and third floor; parking on the second floor; a community facility on the fourth through seventh floors; and residential space, totaling 251 units, on the remaining floors. Completion is tentatively slated for spring 2018.

August 4, 2017

Newer Posts

Older Posts