MANVEL, TEXAS — Allied Orion Group, a Houston-based investment and development firm, has begun leasing Southfork Lake, a multifamily development in Manvel, a southern suburb of Houston. Located at 3333 Southfork Parkway near the Sam Houston Tollway, the 328-unit property offers a resort-style pool with cabanas, fitness center, pet care center, 6,000-square-foot dog park and a cyber café with Wi-Fi access.
EAST ORANGE, ORANGE, AND IRVINGTON, N.J. — Gebroe-Hammer Associates’ David Oropeza has arranged the sales of several multifamily residential properties in East Orange, Orange and Irvington. The transactions include a total 170 units, which were purchased for a combined $12.8 million. Oropeza represented the buyers and sellers in each transaction. An East Orange portfolio sale includes 73 units spanning six properties. These include 63 N. Walnut St., 132 N. Grove St., 433 William St., 75 Carnegie St., 572 Springfield Ave. and 998 18th Ave. Also in East Orange, Oropeza arranged the $2.6 million sale of 30 units at South Harrison Apartments, located at 370 S. Harrison St. In Orange, Oropeza represented the seller and procured the buyer of 364 and 372 White St., totaling 42 units. In Irvington, Oropeza arranged the $1.95 million sale of 25 units at 25 Linden Ave.
BOSTON — Chevron Partners, a privately-held real estate firm, has acquired 260-262 Commonwealth Ave. in Boston from Commonwealth Realty Trust for $14 million. The 1880-built brownstone will be redeveloped into five apartments, which will be known as Maison Commonwealth. The property, currently a dorm for Bay State College students, includes on-site parking for each residence and is a joint venture between developers Fulton and Marcel Safar. Chevron Partners’ first residential property, Maison Vernon, is located at 41 Mount Vernon St. in Beacon Hill. The renovation is scheduled for completion in late spring 2019.
PHILADELPHIA — Philadelphia Magazine has signed a long-term lease for 15,786 square feet at The Curtis, a mixed-use office property in Philadelphia. Keystone Property Group owns the property, which is located at 601 Walnut St. in the Washington Square area. Colliers International’s Sandy Richardson and Liz Morrow represented Keystone Property Group in the transaction. Josh Haber of Binswanger Co. represented Metrocorp, the publisher of Philadelphia Magazine.
MINNEAPOLIS — CBRE has arranged a $1.3 million loan for the acquisition of a 20-unit apartment property in the Minneapolis neighborhood of Ventura Village. The two-story building is located at 1828 Park Ave. and consists of one-, two- and three-bedroom units. Originally built in 1916, the property was fully occupied at the time of closing. The 10-year loan was obtained through Freddie Mac’s small balance loan program and features a 30-year amortization schedule. Ben Bastian and Mark Roos of CBRE represented the borrower, Lotus Acres LLC, an affiliate of EIG Property Management.
EL SOBRANTE, CALIF. — El Sobrante Partners LLC has acquired a 30-unit apartment building near Berkeley for $6.5 million. The community is located at 4350 San Pablo Dam Road in the Contra Costa submarket of El Sobrante. Matt Ziegler, Jeff Louks and David Wolfe of Marcus & Millichap represented both the buyer and seller, another LLC, in this transaction.
SNELLVILLE, GA. — Senior Lifestyle Corp. and Griffin Fine Living LLC have unveiled plans for The Sheridan at Eastside, a 197-unit independent living, assisted living and memory care community in the Atlanta suburb of Snellville. The community will feature 81 independent living apartments, 24 independent living cottages, 60 assisted living units and 32 memory care units. The 190,000-square-foot community will sit on 15 acres. The co-developers plan to start construction this fall, with a projected opening date in late 2018. Senior Lifestyle Corp. operates more than 180 communities across the country. Griffin Fine Living provides design, construction, development, marketing and operational management services for the seniors housing and multifamily sectors.
HOUSTON — MetroNational, a Houston-based real estate development and management firm, has announced plans to break ground this month on a midrise apartment complex at the corner of Barryknoll Lane and Memorial City Way in the Memorial City neighborhood of west Houston. The eight-story complex will have a total of 327 one-, two- and three-bedroom units, ranging in size from 555 square feet to 1,796 square feet, as well as a game lounge, fitness center and a rooftop pet park. The property is slated to open in summer 2019.
MIDLAND, TEXAS — JLL has arranged the sale of Ranchland Apartments, a 204-unit, 16-building multifamily property situated on 6.8 acres at 1212 E. Wadley Ave. in Midland. Scott LaMontagne, Moses Siller and Zar Haro of JLL represented the seller, Midland Visions 2000, in the transaction. The representative of the buyer, KNAARS Ventures LLC, and other terms of the sale were not disclosed.
CHARLOTTE, N.C. — Cushman & Wakefield has brokered the sale of two apartment communities in Charlotte: the 252-unit Whitehall Estates and the 318-unit Stone Ridge. Gamma Real Estate LLC purchased Whitehall Estates for $30.9 million and Stone Ridge for $43.2 million, according to Charlotte Business Journal. Jordan McCarley and Marc Robinson of Cushman & Wakefield represented the seller, YFP/Yager Properties, in the transaction. Built in 1996, Whitehall Estates was 92.5 percent occupied at the time of sale. Built in 2001, Stone Ridge was 94 percent occupied at the time of sale.