Multifamily

LAKE WORTH, FLA. — Housing Trust Group, a Miami-based real estate developer and manager, has completed construction on Pine Run Villas, a $13 million, 63-unit affordable housing community in Lake Worth. The townhome-style community is located at 4726 Big Ben Lane. Pine Run Villas include 47 three-bedroom/two-bath units and 16 four-bedroom/two-bath units with attached garages. The community’s amenity package features a large clubhouse, pool, WiFi access, computer lab, a half-basketball court and a covered school bus stop. Rents range from $843 to $925 for the three-bedroom units and $930 to $1,034 for the four-bedroom units. The development is 100 percent occupied, with half of the units reserved for households earning no more than 50 percent of area median income.

WINDSOR MILL, MD. — A joint venture between Morgan Properties and Core Properties LLC has acquired the Windsor Mill Portfolio, a 500-unit multifamily portfolio consisting of three communities in Windsor Mill, located 12 miles northwest of Baltimore. The communities are located within a one-mile radius of each other outside the Baltimore Beltway. The portfolio includes two garden-style communities developed in 1965 and 1972, as well as a high-rise apartment building built in 1969. Jones Lang LaSalle represented the seller in the transaction.

VIRGINIA BEACH, VA. — ARA has arranged the sale of Greenwich Village, a 224-unit, Class A apartment community located in Virginia Beach. The community features a new clubhouse, resort-style swimming pool with a fountain, outdoor shaded lounges, covered grilling stations, picnic area, firepit, a planned dog park, new fitness center and a business center. Mike Marshall, Drew White and Wink Ewing of ARA represented the sellers, Virginia Beach-based Harmony Investments Inc. and Richmond, Va.-based Spy Rock Development, in the transaction.

HYATTSVILLE, MD. — Marcus & Millichap has arranged the $7.6 million sale of Edmonton Station, a 119-unit apartment community located in Hyattsville, about seven miles northeast of Washington, D.C. The apartment community is located at 5360 Quincy St. Edmonton Station was 97 percent occupied at the time of sale. David Weber, Daniel Cunningham, Tal Frydman and Derek Gibbs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Weber also secured and represented the buyer, a limited liability company.