ROUND ROCK, TEXAS — Round Rock Evergreen SPE LLC has purchased Chisholm Valley and Westwind Duplexes, a townhome rental community in Round Rock, about 18 miles north of Austin. Ellen Muskin and Daniel Elam of Muskin Commercial LLC represented the sellers in the transaction. Chisholm Valley and Westwind Duplexes offers 152 one- and two-story townhome-style units. The community is located on 76 separate parcels. The average unit size is 1,065 square feet. Exteriors are a combination of stone, siding and wood. Each duplex features private fenced backyards, single-car garages, plank faux flooring, built-in microwaves, wood-burning fireplaces, full-size washer/dryer connections, individual HVAC systems and water heaters. The duplexes are situated just north of Toll Road 45.
TAMPA, FLA. — Crescent Communities has opened Crescent Westshore, a new 374-unit luxury apartment community located at 2202 N. Lois Ave. in Tampa’s Westshore district. Situated near the intersection of Lois Avenue and Boy Scout Boulevard, Crescent Westshore features studio, one-, two- and three-bedroom residences ranging from a 528-square-foot studio to a 1,431-square-foot, three-bedroom apartment. Unit interiors include stainless steel appliances, quartz countertops, tile backsplashes, quiet-close cabinets and drawers and full-size washer and dryers. Community amenities include a two-story clubhouse with an outdoor elevated terrace and three courtyards. The community also features a meeting area with a flat screen TV, shared indoor/outdoor summer kitchen, dog run for small and large dogs, two saline pools, a fitness center and an 18-foot, aluminum-plated sculpture with an LED lighting core. The sculpture is situated at the front of the community.
WOODSTOCK, GA. — Milestone Apartments REIT has agreed to purchase Park 9 Apartments, a 275-unit, Class A apartment community located on Ridgewalk Parkway in Woodstock, a northwest suburb of Atlanta. The property is situated near The Outlet Shoppes at Atlanta and I-575. The undisclosed seller has agreed to sell Park 9 to Milestone for $47 million. Built in 2016, Park 9 is currently 95 percent occupied with average monthly rents of approximately $1,200. The community features nine-foot ceilings, stainless steel appliances, granite countertops and direct-access garages. Amenities include a clubhouse with a cyber café, a salt-water swimming pool with beach entry and resort-style cabanas, fitness center, outdoor grilling area, bocce ball court, dog park, storage units and electric vehicle charging stations.
INDIANAPOLIS — Marcus & Millichap has brokered the sale of The Home Place Senior Apartments, an apartment property located at 6734 Millside Drive in Indianapolis. A private investor acquired the property from a limited liability company for $3.3 million. The property features 60 rental units. Darrell Johnson and Brent Silcox of Marcus & Millichap’s Indianapolis office represented the seller, while Shane Ryan McConnell of Marcus & Millichap’s Newport Beach, Calif., office represented the buyer in the transaction.
CHARLOTTE, N.C. — Armada Hoffler Properties, a publicly traded REIT based in Virginia Beach, Va., has entered into a joint venture with Southern Apartment Group to develop and own a new $45 million apartment community in Midtown Charlotte. The eight-story project will feature 225 apartment residences and a 350-space parking structure. Armada Hoffler and Southern Apartment Group plan to break ground on the property in the fourth quarter for a targeted completion date in mid-2018.
CLEVELAND — KeyBank has structured and arranged a $39.9 million Fannie Mae master credit facility for Harmony Housing, a 501(c)(3) nonprofit that focuses on preserving affordable housing rental properties. Harmony Housing will use the facility for a five-property affordable housing portfolio in Florida and Wisconsin. The properties include Centre Court Apartments in Bradenton, Fla.; Villas at Cove Crossing in Lantana, Fla.; The Overlook at Monroe in Sanford, Fla.; Foxbrook Senior Apartments in Brookfield, Wis.; and Prairie Ridge Senior Apartments in Pleasant Prairie, Wis. The facility structure allows Harmony Housing to add properties to the facility, accounting for future acquisitions, and to refinance assets in its existing portfolio.
SEASIDE, CALIF. — The University Corp. at Monterey Bay — an auxiliary corporation of California State University, Monterey Bay — has acquired a 579-bed student housing community located adjacent to the university’s campus in Seaside for $68.5 million. AMCAL Equities LLC sold the project, called The Promontory. The university had a 20-year master lease on the community with an option to purchase after the first 12 months, which it chose to exercise. Community amenities at the property include an internet café, basketball half-court, community clubroom, 24-hour study areas, bicycle storage, fitness center and outdoor grills and seating areas.
SAN ANTONIO — On behalf of Calton Investments Inc., JLL has brokered the sale of the Cordoba Apartments in San Antonio. Brugge Properties purchased the 260-unit property. Scott LaMontagne, Moses Siller and Zar Haro led the JLL team in the deal. Cordoba Apartments offers access to I-10 and Loop 410 and features a swimming pool, on-site clothing care facilities and a tennis court. The 149,264 -square-foot, garden-style community consists of 24 two- and three-story residential buildings across nearly eight acres.
CHARLOTTE, N.C. — Terwilliger Pappas Multifamily Partners has broken ground on Solis Berewick, a 275-unit apartment community in Berewick, a mixed-use development in southwest Charlotte’s Steele Creek area. The new multifamily community will be built adjacent to the Berewick Town Center’s village green close to the Harris Teeter slated to open in October. Amenities will include a clubhouse, poolside pavilion with a firepit, fitness center and a pet park. Each of Solis Berewick’s four buildings will include elevators. Terwilliger Pappas is partnering with Cigna Realty Investors on the development, and Citizens Bank is providing construction financing. The development team includes architect Cline Design Associates, interior designer Rule Joy Trammell Rubio, landscape architect and civil engineer LandDesign and general contractor Fortune Johnson. Solis Berewick will deliver its first homes and amenities for occupancy by mid-2017 with the entire community slated for completion by early 2018.
ASHEVILLE, N.C. — Bellwether Enterprise Real Estate Capital LLC, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., has closed a $19.9 million loan for the refinancing of Retreat at Hunt Hill, a multifamily complex located in downtown Asheville. The newly completed, Class A apartment complex contains 180 units. Vic Agusta and Jim Barber of Bellwether Enterprise arranged the loan through Aegon on behalf of the borrower, Hunt Hill Apartments LLC. Retreat at Hunt Hill is the borrower’s third apartment community in the metro Asheville area. Bellwether Enterprise closed 34 deals totaling $267 million in loans during August alone.