FORT WORTH, TEXAS — KWA Construction has completed construction of HIGHPOINT Urban Living, a 400,000-square-foot, 227-unit apartment complex on the site of the former Coca-Cola bottling plant at 650 S. Main St. in Fort Worth’s Medical District. The property features a bike rental station, resort-style pool, cabanas and a fire pit, with one-bedroom units averaging 631 square feet and two-bedroom units averaging 1,257 square feet.
SANTA BARBARA, CALIF. — Integral Senior Living (ISL), a seniors housing operator, has been chosen to manage The Oak Cottage of Santa Barbara, a memory care community in Santa Barbara. This will be the California-based operator’s first community in Santa Barbara.
PEMBROKE PINES, FLA. — Related Development has sold the recently completed Town at Pembroke Pines, a 356-unit apartment community located at 10700 City Center Blvd. in Pembroke Pines, a city in South Florida’s Broward County. Rockpoint Group, a Boston-based real estate private equity firm, purchased the property from the Miami-based developer for $87 million. Built in 2016, Town at Pembroke Pines features 33 units per acre and community amenities such as a resort-style pool deck with personal cabanas and daybeds, outdoor dining area, demonstration kitchen, game room, private movie theater, eight courtyards, dog park, children’s playground and volleyball, tennis and racquetball courts. Over the past 18 months, Related Development has sold three completed multifamily projects totaling over $290 million, not including Town at Pembroke Pines.
NEW BERLIN, WIS. — Ogden & Co. Inc. has brokered the sale of Parc Vue Apartments in New Berlin, about 15 miles southwest of Milwaukee, for $2.5 million. The 30-unit property consists of two buildings and is located at 12415 W. Greenfield Ave. Dave Tighe and Sue Sardina of Ogden represented the seller, Greenfield-124-Needham LLC. Tighe, along with Mike Seramur, represented the buyer, Parc Vue LLC.
STATESBORO, GA. — Vesper Holdings has acquired The Forum at Statesboro, a 780-bed student housing community located near Georgia Southern University in Statesboro, for $28.5 million. The property comprises 13 three-story residential buildings and a clubhouse, and offers one-, two-, three- and four-bedroom units. Community amenities include a swimming pool, 24-hour fitness center, game room, indoor basketball court, tennis and volleyball courts, tanning beds, a business center and a dog park. Vesper plans to invest $1.3 million in capital expenditures to improve curb appeal, renovate the clubhouse and upgrade amenities. The seller was undisclosed.
PEMBROKE PINES. FLA. — An affiliate of Harbor Group International LLC has acquired the 700-unit Montage at City Center in Pembroke Pines, a suburb of Miami, for $158.5 million. Montage at City Center contains 12 mid-rise buildings and 28 townhome buildings. The community offers a mix of one-, two- and three-bedroom units. The property is currently 95 percent leased with an average market rent of $1.55 per square foot. Montage at City Center was built in two phases between 2014 and 2015. Unit interiors feature formica countertops, espresso cabinetry, stainless steel appliances and hard-surface flooring. Property amenities include a LEED Gold-certified clubhouse, two resort-style pools, a fitness center, business center, game room and demonstration kitchen. Private garages and storage units are also available for rent. The multifamily complex is located adjacent to Pembroke Pines City Center, a 47-acre mixed-use project that will feature retail, office and residential components. Terra Group is developing the project. Phase I will deliver 200,000 square feet of retail anchored by a 45,600-square-foot Publix. Phase II will add 450 apartments and 100,000 square feet of office. The City of Pembroke Pines is also building a $60 million civic and cultural center, which includes a new city …
NEW YORK CITY — HFF has arranged a joint venture for the development of 69 West Broadway, a ground-up condominium project in the Tribeca neighborhood of Manhattan. HFF worked on behalf of the developer, Cape Advisors, along with private equity fund Forum Absolute Equity Partners to arrange the investment with a European fund. The fund contributed in excess of $21 million toward the $120 million total project cost. BKSK Architects is designing the property, which will occupy the block between Warren and Murray streets at West Broadway. The eight-story 69 West Broadway development will include 24 units situated above ground-floor retail. Eric Anton led HFF’s equity placement team.
VISTA, CALIF. — An unnamed buyer has acquired the 140-unit Las Palmas apartments in the San Diego submarket of Vista for $20.9 million. The community is located at 300 W. Los Angeles Drive. Las Palmas has floor plans ranging from one- to three-bedroom units. Amenities include a pool, fitness center, community lounge and covered parking. Chris Zorbas of IPA represented the buyer. JLL’s Darcy Miramontes and Kip Malo represented the sellers, FPA Multifamily and PCCP, in this transaction.
NEW YORK CITY — Equicap has secured a $5.8 million construction loan for a mixed-use development in the Williamsburg neighborhood of Brooklyn. The site is located directly above an L train subway stop and within walking distance to the JMZ trains. The developer obtained approval from the MTA for the project. The property will feature five condo units and one ground-floor retail space.
WEST LINN, ORE. — An unnamed buyer has acquired the 10-unit West Linn Plexes apartments for $1.9 million. The community is located at 4355 Riverview Ave. in West Linn. Each duplex consists of three-bedroom and 1.5 bath townhomes that span 1,350 square feet over three floors. Teresa Robles-Trakul of Marcus & Millichap partnered with the Rhoades-Corso Group to secure the buyer. The group also represented the seller, a limited liability company.