Tuesday, June 24, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

MultifamilyTexas

ARA BROKERS SALE OF FAIRFIELD CREEK IN HOUSTON

by admin

HOUSTON — ARA has arranged the sale of Fairfield Creek, a 696-unit multifamily community in Houston's Gulfgate submarket. The property was 93 percent occupied at the time of sale. David Wylie, Russell Jones, Matt Saunders and Zach Springer of ARA represented the seller, Harbor Group International, a Norfolk, Va.-based real estate investment company, in the transaction. RB Associates, a Houston-based multifamily owner/operator, purchased the property and plans to divide the asset into two separate apartment communities, complete interior upgrades and raise rents by $50 to $75 per month. The property features four swimming pools, four spas and a jogging trail.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyTexas

GAIA, GRAND CHINA FUND ACQUIRE METRO HOUSTON APARTMENTS

by admin

PEARLAND, TEXAS — Gaia Real Estate Investments has partnered with Grand China Fund to acquire Whispering Winds, a 286-unit apartment community in Pearland. The property was built in 1986 and renovated in 2005. Gaia intends to renovate the property's common areas, amenity package and apartment units. Whispering Winds' amenities include two swimming pools, courtyards, barbecue grills, laundry facilities, clubhouse and business center, playground, dog park and lighted tennis court. Gaia owns 6,548 apartment units in 23 properties in Houston, Dallas and Corpus Christi.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyWestern

THE $70M LONG BEACH SENIOR ARTS COLONY DEBUTS IN LONG BEACH

by admin

LONG BEACH, CALIF. – The 200-unit Long Beach Senior Arts Colony, which was built for seniors aged 55 and older, has debuted. The $70-million, transit-oriented development is located at 200 E. Anaheim Street. It is situated along Long Beach’s light rail line. The project was developed by Meta Housing Corporation and Century Housing Corporation.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyWestern

VISTA VENTANA IN PHOENIX SELLS FOR $10.2M

by admin

PHOENIX – The 275-unit Vista Ventana in Phoenix has sold to BH Properties LLC for $10.2 million. The community is located at 3221 W. El Camino Drive. The property recently underwent a series of improvements. Its occupancy is currently at 90 percent. Karl Abert and Brad Pickering of Newmark Grubb Knight Frank represented both the buyer and the seller, El Camino Vista, LLC, in this transaction.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNortheast

HFF ARRANGES $100M LOAN FOR 39-STORY MULTIFAMILY BUILDING

by admin

NEW YORK CITY — HFF has arranged $100 million in long-term financing for a 510-unit, high-rise residential property in Manhattan’s Murray Hill neighborhood. Prudential Mortgage Capital Co., the commercial real estate finance business of Prudential Financial Inc. (NYSE: PRU), provided the 20-year, fixed-rate loan. The 39-story building is located on 39th Street between First and Second avenues and includes studio, one- and two- bedroom units. Community amenities include a doorman, parking garage, laundry facilities and bicycle storage. The HFF team representing the borrower included senior managing director Michael Tepedino, managing director Steven Klein and associate director Jennifer Keller. Sarah Teunis, director, and Kathryn Bradford, senior analyst, represented Prudential.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNortheast

232-UNIT APARTMENT COMPLEX IN WATERBURY SELLS FOR $17M

by admin

WATERBURY, CONN. — Fairmount Heights Associates LP has sold Country Village Apartments, a 232-unit, HUD-subsidized property in Waterbury, for $17 million. Constructed in 1948, Country Village Apartments is situated on 30 acres and is one of the largest apartment complexes in Waterbury. Fairmount Heights purchased the property in January 1983. Steve Pappas of Chozick Realty represented Fairmount Heights Associates in the transaction. The buyer is Country Village Apartments LLC, which secured an additional $15 million in CHFA financing through tax credits for property renovations. The renovation plans include new kitchens, appliances, bathrooms, flooring, windows, doors, roofs, common areas, as well as improvements to the landscaping and playgrounds.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilySoutheast

TAMPA APARTMENT COMMUNITY TRADES FOR $4.2 MILLION

by admin

TAMPA, FLA. — Marcus & Millichap has completed the sale of Green Oaks, a 100-unit multifamily property located at 3801 W. Tyson Ave. in Tampa. Built in 1983, the community includes eight, two-story buildings on six separate parcels that total 2.83 acres. The buildings’ roofs were replaced last year, and 70 percent of the units were remodeled during the same time period. Frank Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented both parties, Florida-based private investors, in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyTexas

BALFOUR BEATTY TO DEVELOP 514-BED RESIDENCE HALL

by admin

STEPHENVILLE, TEXAS — Balfour Beatty has entered into an agreement to develop a 514-bed, four-story student housing project located adjacent to the University Dining Center on Tarleton State University’s main campus in Stephenville. Tarleton State is a member of the Texas A&M University System. BOKA Powell Architects is in charge of design. Balfour Beatty Campus Solutions is the lead developer on the $25 million project, and Balfour Beatty Construction will act as construction partner. The university will operate and maintain the building, which includes management of all resident activities. The building will feature community spaces, kitchens and study areas on each floor. The project has been financed through the issuance of tax-exempt bonds underwritten by RBC Capital Markets. An affiliate of Collegiate Housing Foundation owns the on-campus project under a 32-year ground lease with the university. The project is scheduled to break ground later this month and open in August 2014.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts