MILWAUKEE — MLG Capital has acquired Frederick Lofts in Milwaukee for $16 million. The 100-unit multifamily complex is located in The Brewery neighborhood. Amenities include a resident clubhouse, fitness center, yoga room, media room, underground parking and rooftop deck. MLG Capital plans to upgrade the unit interiors in order to maintain the property’s Class A status.
SECAUCUS, N.J.— New York Life Real Estate Investors, on behalf of New York Life Insurance Company, has provided a $115 million loan to refinance The Harper at Harmon Meadow, a 469-unit multifamily community in Secaucus, across the Hudson River from Midtown Manhattan. Located at 100 Park Plaza Drive, the newly constructed community is part of the master-planned Harmon Meadow mixed-use development, which includes apartments, dining, hotels, shopping and entertainment. Amenities at The Harper at Harmon Meadow include club lounges, fitness facilities in each building, saltwater swimming pool, outdoor athletic course and yoga studio. The community features studio, one- and two-bedroom apartments. Rents at the community start at $1,975 for studio units, $2,255 for one-bedroom units and $2,910 for two-bedroom units. New York Life Real Estate Investors provided the financing to property owner Hartz Mountain Industries Inc. Terms of the financing were not disclosed. “The property’s location in the mixed-use Harmon Meadow development and the nearby transportation links create an outstanding live-work-play environment with excellent access,” says Keith Duane, director in New York Life Real Estate Investors’ Northeast office. — David Cohen
BRANDON, FLA. — A joint venture between Providence Real Estate and Aegon Real Assets has acquired The Park at Via Rosa, a 390-unit apartment complex in Brandon, for $63 million, or $161,538 per unit. The asset spans 24 acres, 33 buildings and 400,140 square feet. The new owners plan to upgrade unit interiors, including new appliances, wood flooring, new laminate countertops, tile backsplashes and new cabinets. Located at 2211 Grand Isle Drive, about 10 miles east of downtown Tampa, the community offers one-, two-, three- and four-bedroom floor plans and amenities including a clubhouse, fitness center, business center, tanning salon, playground, pet play area, car care center, swimming pool and volleyball and tennis courts. Luis Elorza, Brad Capas and Michael Mulkern of Cushman & Wakefield represented the buyers in the transaction. Managed by Blue Roc Premier, Grand Rivage at Brandon Lakes Ltd. sold the property.
FRISCO, TEXAS — A partnership between the Dallas Cowboys, former quarterback and developer Roger Staubach and Robert Shaw of Columbus Realty Partners, has begun leasing Twelve Cowboys Way. The 17-story, 160-unit residential tower overlooks The Star, the NFL team’s 91-acre headquarters campus in Frisco. Floor plans include one-, two- and three-bedroom units, with rates starting at $2,700 per month. Units will feature floor-to-ceiling windows, quartz countertops and hardwood floors. Residents will have access to a covered pool, members-only dining club and a 60,000-square-foot gym, as well as 24-hour concierge, dry cleaning, dog walking and grocery delivery services. O’Brien Architects designed the building, which will officially open in early 2020.
HOUSTON — Allied Orion Group has acquired Ashford Apartments, a 312-unit multifamily community located at 1200 N. Dairy Ashford Road in Houston. Built in 2017, the Class A property offers one- and two-bedroom units featuring granite countertops, custom backsplash options, upgraded cabinetry and built-in washers and dryers. Communal amenities include a pool, a two-story fitness center, outdoor grilling area, dog park, package lockers and electric vehicle charging stations. The seller was Trammell Crow Residential.
CHICAGO — Hines and McCaffery Interests have opened The Apartments at Lincoln Common, a 538-unit apartment property on Lincoln Avenue in Chicago. Skidmore, Owings and Merrill and Antunovich Associates designed the two-tower property, which features one-, two- and three-bedroom units as well as penthouses. Amenities include a coworking lounge, game room, clubroom, fitness center, yoga studio, 20th-floor rooftop lounges and concierge services. Monthly rents start at $1,814 for studios.
LEHIGH VALLEY, PA. — One Wall Partners has acquired a portfolio of 996 rental apartments in the Lehigh Valley of Pennsylvania for an undisclosed price. The portfolio, which is currently 98 percent occupied, features garden-style complexes as well as a rental townhome community. Amenities include outdoor pools, fitness centers and clubhouses. One Wall Partners plans to spend more than $500,000 on energy efficient upgrades and deferred maintenance on the properties. One Wall Partners was represented in-house, in the transaction. The undisclosed seller was represented by CBRE.
NEW YORK CITY — Cushman & Wakefield has brokered the $6.1 million sale of a 16-unit multifamily property in the Bayside neighborhood of Queens. Located at 191-02 35th Ave., the property consists of one- and two-bedroom duplex units as well as three-bedroom triplex units. The two-story property in located nearby the Auburndale Long Island Rail Road station. Daniel Abbondandolo and Dimitri Mastrogiannis of Cushman & Wakefield represented the seller, The DiNoto Group, in the transaction. The property was purchased by Fairfield Properties.
HALTOM CITY, TEXAS — Marcus & Millichap has brokered the sale of Rio Vista, a 246-unit multifamily community in Haltom City, located northwest of downtown Fort Worth. The property was built in 1969 and features amenities such as a pool, playground, picnic area and volleyball court. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a California-based private investment group, in the transaction. The duo also procured the buyer, a Florida-based investment firm. The new ownership will invest $2.5 million in capital upgrades to the property.
ATLANTA — FCP has acquired Ashford Gardens, a 164-unit garden-style apartment community in Atlanta, for $23.1 million. Ashford Gardens offers one-, two- and three-bedroom floor plans and community amenities such as a swimming pool, barbecue and picnic area and a playground. Situated at 2203 Plaster Road NE in northeast Atlanta, FCP will rebrand the property as Mirador at Peachtree. Andrew Mays and Matt White of Berkadia represented the undisclosed seller in the transaction.