Multifamily

Campus Advantage to Manage 498-Bed Community Near the University of Montana

by Nellie Day September 5, 2017

MISSOULA, MONT. — Campus Advantage has been awarded management of ROAM, a 498-bed student housing community currently under development near the University of Montana in Missoula. The property is the first purpose-built student housing complex to serve the University of Montana, according to Campus Advantage. Shared amenities will include a bike and ski tuning shop, outdoor kitchens with grilling stations, a fire pit and an expansive fitness center. Austin-based Catalyst will also manage brand development alongside Campus Advantage. The property is scheduled to open next fall.

September 5, 2017

Maryland Multifamily Southeast

Crow Holdings Capital Buys 244-Unit Multifamily Community in Metro D.C.

by Camren Skelton September 5, 2017

ODENTON, MD. — Crows Holdings Capital – Real Estate has purchased NOVUS Odenton, a 244-unit multifamily property in Odenton, roughly 30 miles northeast of Washington, D.C. The sales price was not disclosed. Walter Coker and Brian Crivella of HFF marketed the property on behalf of the seller, a joint venture between Cafritz Interests and Clark Enterprises Inc. Located at 315 Nevada Ave., NOVUS Odenton is within walking distance of the Odenton MARC train station, which provides service to both the D.C. and Baltimore central business districts. The community includes one-, two- and three-bedroom units and features nine-foot ceilings, granite countertops, faux wood plank flooring, walk-in closets and in-unit washers and dryers. Community amenities include a swimming pool, patios with outdoor cooking areas, fitness center, yoga room, theater and media room, game room and a pet-grooming salon.

September 5, 2017

Florida Multifamily Southeast

Dougherty Mortgage Closes $8.8M Acquisition Loan for Apartment Community in Tallahassee

by Camren Skelton September 5, 2017

TALLAHASSEE, FLA. — Dougherty Mortgage LLC has arranged an $8.8 million Fannie Man loan for the acquisition of Rolling Hills Apartments, a 152-unit multifamily community in Tallahassee. The 12-year loan utilized Fannie Mae’s Green Rewards program and was structured with five years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Rolling Hills Investors LLC. The apartment community features a swimming pool, picnic area with grills and a fitness center.

September 5, 2017

Multifamily Texas

Oden Hughes to Build 57-Acre Development in San Antonio

by Taylor Williams September 5, 2017

SAN ANTONIO — Austin-based development and construction firm Oden Hughes will build a 57-acre development at the intersection of Loop 1604 and Bulverde Road in San Antonio. The development, which has yet to be branded, will eventually feature 1,000 apartment units across 41 acres that will be delivered in three phases. The property also includes nearly 16 acres of commercial acreage that Oden Hughes pans to sell. The company will break ground on Phase I, which will deliver 338 Class A units, later this week. Scheduled to open in late 2018, this phase will also feature a two-level pool, fitness center, running trail and a dog park.

September 5, 2017

Multifamily Texas

ARA Newmark Brokers Sale of 265-Unit Apartment Community in Metro Dallas

by Taylor Williams September 5, 2017

FARMERS BRANCH, TEXAS — ARA Newmark has brokered the sale of Ventana at Valwood, a 265-unit apartment community located at 14221 Heritage Circle in the Dallas metro of Farmers Branch. The property was built in the 1960s and renovated in 2007. The buyer and seller were not disclosed.

September 5, 2017

Illinois Midwest Multifamily

Luxury Living Chicago Realty to Oversee Leasing of 102-Unit Luxury Apartment Tower in Chicago

by Kristin Harlow September 5, 2017

CHICAGO — Luxury Living Chicago Realty will oversee leasing of 8 East Huron, a 102-unit luxury apartment tower in Chicago’s River North neighborhood. CA Residential LLC, the multifamily investment and development division of Chicago-based CA Ventures, developed the 26-story property. The Habitat Co. will manage the property. Wrapped entirely in glass, the building features one- and two-bedroom units as well as luxury three-bedroom suites on the 22nd and 23rd floors. Floor plans range in size from 540 to 2,680 square feet with rents ranging from $2,195 to $15,995. A 24th floor amenity space consists of an infinity pool, sun deck, fitness center and on-site pet spa. Since the building is still under construction, Luxury Living is offering a virtual realty experience that allows interested renters to see select apartments and amenities from every angle.

September 5, 2017

Conference Coverage Features Georgia Seniors Housing Southeast Southeast Feature Archive Top Stories

Smart Seniors Housing Design Can Offset Development Expenses, Says InterFace Panel

by John Nelson September 5, 2017

With construction costs rising and the supply of talented staff diminishing, doing business has never been more expensive for seniors housing developers. As such, both developers and operators are seeking new ways to save money. Increasingly, these groups are considering the role design plays in their projects, with a particular emphasis on identifying design concepts and elements that save on the bottom line without compromising the property’s sense of livability. A panel of seniors housing developers and operators gathered at the Westin Buckhead Atlanta on Wednesday, Aug. 23 as part of InterFace Seniors Housing Southeast to discuss development trends in today’s market. More than 400 industry professionals attended the conference. Moderator Will Childs, executive vice president of seniors housing for Oracle Healthcare Advisors and based in the firm’s Atlanta office, led the analysis of how construction and labor issues alike are driving developers to think outside the lines. At the most fundamental level, many new designs for seniors housing properties share the goal of repurposing common and outdoor spaces, according to panelist Alan Moise, chief investment officer for Atlanta-based Thrive Development Partners. “Overall pricing for development projects in the Southeast and mid-Atlantic is probably up about 6 percent this year,” …

September 5, 2017

Multifamily New York Northeast

Jefferson Avenue Apartments Underway in Buffalo, New York

by Jaime Lackey September 1, 2017

BUFFALO, N.Y. — Sinatra & Company Real Estate and People Inc. have broken ground on Jefferson Avenue Apartments, a $24 million, two-building project in Buffalo’s Masten District. The project will include 84 mixed-income units, with 16 units to be reserved for people who have developmental disabilities but live independently. The apartment buildings will feature one- and two-bedroom units, a community room with a small kitchen, on-site laundry facilities, green space and off-street parking. The project will also include a 23,000-square-foot space that will house a recruitment and program services office for People Inc. Development team partners include Creative Structures Services, Bellamy Enterprises and Long Associates Architects. Financing for the project is expected to come from the City of Buffalo, Empire State Development, NYS Housing Finance Agency, NYS Housing and Community Renewal and the NYS Office for Persons with Developmental Disabilities, as well as federal and state low-income housing tax credits.

September 1, 2017

Multifamily New York Northeast

HFF Arranges $60.9M Sale of 117-Unit Multifamily Property in Manhattan

by Jaime Lackey September 1, 2017

NEW YORK CITY — Holliday Fenoglio Fowler (HFF) has brokered the $60.9 million sale of 321 East 22nd Street, a multifamily property in Manhattan’s Gramercy Park neighborhood. The property is located within three blocks of the 4, 6, N, Q, R and W train lines and near Gramercy Park and Madison Square Park. The six-story building encompasses 117 residential units and 2,800 square feet of commercial space, which is leased to Synergy Fitness. Jeff Julien, Rob Hinckley and Andrew Scandalios of HFF represented the seller, Benedict Realty Group, and procured the buyer, Akelius.

September 1, 2017

Multifamily New York Northeast Student Housing

DMG Investments Breaks Ground on 322-Bed Community Near the State University of New York at Albany

by Jaime Lackey September 1, 2017

Albany, N.Y. — DMG Investments has broken ground on a 322-bed student housing community located near the State University of New York at Albany campus in Albany. The $30.5 million community will be located at the former Red Carpet Inn site at 1385 Washington Ave. The four-story, 142,000-square-foot property will offer one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include partially underground parking, in-unit washers and dryers, a fitness center, study room, resident’s lounge, gaming room, on-site tanning and courtyards. A timeline for the project has yet to be announced.

September 1, 2017

Newer Posts

Older Posts