AUSTIN, TEXAS — Locally based developer Industry ATX has delivered Industry SOMA, a 23-unit affordable housing project in Austin’s South Menchaca neighborhood. The townhome-style residences are housed and are reserved for households earning 80 percent or less of the area median income. Units have an average size of about 1,100 square feet. Mark Odom Studio designed the project, construction of which began in fall 2022.
STORRS, CONN. — A joint venture between Landmark Properties and Manulife Investment Management has opened The Standard at Four Corners, an 890-bed student housing community located near the University of Connecticut campus in Storrs. Designed by Dwell Design, the property offers 392 fully furnished units in studio, one-, two- and three-bedroom configurations with bed-to-bath parity. Shared amenities include an academic lounge, 24-hour study rooms, a fitness center, resort-style pool and spa, jumbotron lawn, outdoor gaming areas, fire pits, grilling stations and a clubroom. The property also features 14,500 square feet of ground-floor retail space.
RANDOLPH, N.J. — A partnership between two developers, CrownPoint Group and Crossroads Cos., has broken ground on a 125-unit multifamily project in Randolph, about 40 miles west of New York City. Designed by Comito Associates and known as Liberty Village, the development will feature townhouse-style residences that will be housed within 11 buildings across a 14.5-acre site. The property will have 25 affordable housing units. Amenities will include fitness center, multiple social lounges, a golf simulator, children’s playroom and a business center with work pods and meeting areas. Completion is slated for summer or fall of 2026.
BOSTON — Regional brokerage firm Hunneman has arranged the $11.8 million sale of a two-building, 14-unit apartment complex in the Brookline area of Boston. According to Apartments.com, the property at 10-12 Greenway Court was originally constructed in 1915 and exclusively offers two-bedroom units. Carl Christie and Dan McGee of Hunneman represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
POOLER, GA. — JLL Capital Markets has arranged a $38.7 million loan for the refinancing of Clear Lake Reserve, a 199-unit townhome community located in Pooler, a western suburb of Savannah. Chris Drew, Matthew Putterman and Kenny Cutler of JLL’s Debt Advisory team arranged the loan on behalf of the borrower, 360 Communities, an affiliate of Freehold Capital Management, and Rockpoint, a Boston-based real estate private equity firm. Western Alliance Bank provided the three-year, floating-rate loan . Situated near the Savannah Hilton Head International Airport and the Port of Savannah, Clear Lake Reserve spans approximately 50 acres. The community will feature 83 three-bedroom townhomes and 113 four-bedroom townhomes ranging in size from 1,385 square feet to 2,010 square feet. Each townhome will include an attached two-car garage, private driveway and a covered outdoor porch. Amenities at the complex will include a resort-style swimming pool, fitness center, basketball and pickleball courts, clubroom, brick firepit, dog park, putting green, playground, grilling stations, dedicated guest and amenity parking areas, as well as a dock overlooking a community pond. 360 Communities and Rockpoint have structured the development with an unnamed, publicly traded homebuilder performing vertical construction at Clear Lake Reserve.
CARROLLTON, GA. — R.H. Ledbetter Properties has received a $15 million equity investment through American South Capital Partners’ (ASCP) real estate fund II to develop a 236-unit, attainable multifamily community in Carrollton, a western suburb of Atlanta. ASCP, a joint venture of SDS Capital Group and Vintage Realty Co., provides equity financing for real estate sponsors with projects located in 10 Southern states. Dubbed Carrollton Flats, the $49 million complex will feature one-, two- and three-bedroom apartments. Amenities will include a resort-style swimming pool, community clubhouse, 24-hour fitness center, grilling stations, pet park and green space. Upon completion of Carrollton Flats, which is anticipated for the second half of 2027, rental rates at the property will remain attainable for middle-income individuals and families of the area workforce.
OGDEN, UTAH — Highland Partners has purchased Christopher Village, an apartment property in Ogden, from a private seller for an undisclosed price. Brock Zylstra and Danny Shin of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1962, Christopher Village offers 114 apartments with fireplaces, storage space, dishwashers and air conditioning. Community amenities include a resort-style swimming pool, laundry facility and reserved covered parking.
CHICAGO — CEDARst Cos. and Kayne Anderson Real Estate have received a $91 million loan from Invesco Real Estate to finance the acquisition and future tenant improvements at Millie on Michigan, a 47-story apartment tower located at 300 N. Michigan Ave. in Chicago’s Loop. The financing follows the joint venture’s all-cash acquisition of the property in July. The loan proceeds will support the venture’s long-term investment strategy, including capital improvements designed to enhance the resident experience and retail environment. Completed in 2022, Millie on Michigan includes 289 luxury apartment units and 25,000 square feet of retail space. Occupancy exceeded 95 percent at the time of purchase. Amenities include a rooftop pool, coworking spaces, a fitness center, dog run and integrated smart home technology. The project is part of CEDARst Opportunistic Fund, which launched in February.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Vintage, an apartment community in Tucson. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Built in 1981, The Vintage offers 204 one- and two-bedroom floor plans with private balconies or patios, window coverings and extra storage space. Community amenities include a newly renovated swimming pool and spa, laundry facility, package lockers and a 24-hour fitness center.
MINNEAPOLIS — JLL Capital Markets has brokered the sale of Flux Apartments, a 216-unit luxury apartment community in the Uptown neighborhood of Minneapolis. Built in 2012, the property features amenities such as an outdoor pool, fitness center, yoga studio, outdoor courtyard and dog park. There are 27 floor plans averaging 758 square feet each. Josh Talberg and Joseph Peris of JLL represented the seller, Nuveen Real Estate, and procured the undisclosed buyer.
