HOUSTON — Transwestern Development Co. has begun leasing The Hayworth, a 246-unit multifamily property located at 1414 Wood Hollow Drive in Houston’s Tanglewood neighborhood. Units range from 934-square-foot one-bedroom apartments to 2,324-square-foot three-bedroom residences. In addition, 10 townhomes starting at 1,986 square feet will become available in 2018. Amenities include a two-acre private park, yoga lawn, pool and dog park.
SEABROOK, TEXAS — CBRE’s Capital Markets group has brokered the sale of Edgelake Apartments, a 216-unit multifamily asset located at 3010 E. NASA Parkway in Seabrook, about 35 miles southeast of Houston. Built in 1982, the property offers one- and two-bedroom units averaging 742 square feet per unit, as well as a pool and fitness center. Clint Duncan and Matt Phillips of CBRE represented the seller, Omaha-based SEC Edgelake LLC, in the transaction. 3000 NASA Parkway purchased the property, which was 95 percent occupied at the time of sale, for an undisclosed price.
RALEIGH, N.C. — Canyon Partners Real Estate LLC has provided a $10.3 million preferred equity investment for the development of ParkStone at Knightdale, a 350-unit multifamily community in Raleigh’s Knightdale submarket. An affiliate of The Widewaters Group Inc. is developing the property. ParkStone at Knightdale will be situated adjacent to the Widewaters Commons shopping center, which is anchored by Lowe’s Foods and Planet Fitness, and within walking distance to numerous other shops and restaurants. The community will comprise one- to three-bedroom units with granite countertops and stainless steel appliances. Community amenities will include a fitness center, resort-style pool, outdoor lounge with grilling areas, playground, pet wash station and self-storage units. The project site is part of a 57-acre land parcel owned by Widewaters, which is entitled for a mixed-use master-planned development. Upon completion, the development will comprise the new residential component and 270,000 square feet of retail, entertainment and dining options.
GALVESTON, TEXAS — BMC Capital has arranged a $13.7 million loan for the acquisition of a 238-unit multifamily property in the Texas Gulf Coast city of Galveston. The five-year loan features a 5 percent fixed interest rate and a 30-year amortization schedule. Keith Van Arsdale of BMC Capital arranged the loan through an undisclosed bank. The name of the property and borrower were also withheld.
FORT LAUDERDALE, FLA. — The Fort Lauderdale City Commission has approved Ocean Land Investments’ proposed Riverwalk Residences of Las Olas project in Fort Lauderdale. The seniors housing community will offer 401 units of independent living, assisted living and memory care. Borges Architects + Associates designed the 42-story tower that will be Fort Lauderdale’s tallest building once completed. Amenities will include restaurants, a rooftop bar, full-service spa, fitness center, virtual sport rooms, theater, outdoor pool, hotel rooms, on-site doctor’s offices and valet parking. The project will also feature a ground-level gourmet market that will be open to the public. The property is located near downtown Fort Lauderdale’s Riverwalk, museums, the Broward Center for the Performing Arts, shopping and dining. Ocean Land Investments specializes in the development of prime waterfront properties.
FRANKLIN, TENN. — North American Properties has delivered Emblem, a 361-unit multifamily community in Franklin, roughly 20 miles south of Nashville. The new community includes a mix of one- and two-bedroom units ranging in size from 617 to 1,209 square feet. Individual units features open floor plans, stainless steel appliances, 11-foot ceilings and accented backsplashes. Emblem also features a fitness center, resort-style pool with outdoor grilling stations, internet café, conference room and a coffee bar. Meeks + Partners was the architect for the project.
LOS ANGELES — An individual/personal trust has acquired a 32-unit apartment complex in North Hollywood for $4.4 million. The community is located at 6706 Cleon Ave. in the Los Angeles submarket. Janette Monfared and Jason Tuvia of Marcus & Millichap represented both the buyer and seller, an LLC, in this transaction.
MIRAMAR, FLA. — Pollack Shores Real Estate Group has acquired Solano at Miramar, a 512-unit apartment community in the South Florida city of Miramar. South Florida Business Journal reports the Atlanta-based firm acquired the asset from TPF Equity REIT for $119.8 million. Constructed in 2008, Solano at Miramar comprises 364 apartment units and 148 townhomes that range in size from 823 to 1,677 square feet, with rents ranging from $1,961 to $3,185 per month. Community amenities include a resort-style pool with a sundeck, business center and a lakeside jogging trail. Pollack Shores will implement capital improvements including new granite countertops, vinyl plank wood flooring, white shaker cabinets and new plumbing and light fixtures. Amenity enhancements will include a full renovation to the clubhouse, conversion of an indoor basketball court into a fitness center and the addition of an outdoor lounge to the pool area. ARA Newmark brokered the transaction. Matrix Residential, a subsidiary of Pollack Shores, will manage the property.
ATLANTA — Wood Partners has unveiled plans to develop Piedmont House, a 198-unit apartment community in Atlanta’s Midtown district. The property will be located at 205 12th St., overlooking Piedmont Park. Designed by architect Rule Joy Trammell + Rubio, Piedmont House will include one- to three-bedroom units with private balconies, stainless steel appliances, quartz countertops, hardwood floors and a wine cooler and wet bar. Community amenities will include a saltwater pool, sky lounge, fitness center, entertainment space and a wine locker with a tasting room. In addition, Piedmont House will include 1,200 square feet of retail space. The new community is slated to deliver in winter 2018.
POOLER, GA. — Greystone Brown Real Estate Advisors has arranged the $18.1 million sale of Oglethorpe Square, a 160-unit multifamily community in Pooler, located 10 miles west of Savannah. Bo Brown and Steve Mack of Greystone represented the buyer, New York-based URS Capital Partners, and the undisclosed seller. URS will rebrand the property as Pooler Station. Constructed in 2006, the property features a swimming pool, fitness center, clubhouse, barbeque area and walking paths.
