Wednesday, December 18, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

AcquisitionsMidwestMultifamilyWisconsin

JVM Purchases 236-Unit Mayfair Reserve Apartment Property in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — JVM Realty Corp. has purchased Mayfair Reserve, a 236-unit luxury apartment property in the Milwaukee suburb of Wauwatosa. Atlantic Residential sold the asset for an undisclosed price. Completed in 2017, Mayfair Reserve offers one- and two-bedroom layouts. Amenities include a fitness center, clubhouse, pool, outdoor kitchen, climate-controlled garage parking, electric vehicle charging station and dog park. Atlantic Residential developed Mayfair Reserve in partnership with Edge Principal. JVM now owns and manages 22 communities throughout the Midwest.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentSeniors HousingSoutheastVirginia

NexCore, Experience Senior Living Break Ground on 215-Unit Community in Metro DC

by John Nelson

FALLS CHURCH, VA. — NexCore Group and Experience Senior Living (ESL) have broken ground on The Reserve at Falls Church, a 215-unit seniors housing community in Falls Church, roughly 10 miles outside Washington, D.C. Upon completion, the property will feature independent living, assisted living and memory care units across 15 stories. Amenities at the community will include multiple restaurants, an indoor saltwater pool, spa, fitness center and a “maker space” for creative endeavors. Nuveen Real Estate is providing an undisclosed amount of capital for the project. This marks the 18th seniors housing development between NexCore and ESL. Scheduled to open in spring 2027, The Reserve at Falls Church will be situated within the 1.2 million-square-foot West Falls mixed-use community. In addition to residential units, West Falls comprises retail and restaurant space, a hotel, medical office building and central outdoor gathering space. Hoffman & Associates is the master developer of the community.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMixed-UseMultifamilyRetailSoutheast

Urban Design Review Board Approves 12-Story Mixed-Use Tower in Miami

by John Nelson

MIAMI — The City of Miami’s Urban Design Review Board (UDRB) has approved the design of a new 12-story mixed-use tower in the city’s Little River neighborhood. The project team includes locally based developer B Developments and Stantec, which is serving as architect, MEP engineer and structural engineer for the development. The tower will be located on a 3.5-acre site at 79th Street and Biscayne Boulevard and feature 355 apartments, 589 parking spots and 35,500 square feet of retail space on the ground level. Set to break ground next year, the property will feature a mix of studio, one-, two- and three-bedroom apartments, as well as a beach entry pool, fitness center, outdoor dining terrace and a shaded pet area.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySouth CarolinaSoutheast

Northmarq Arranges $49.3M Sale of Apartment Community in Greer, South Carolina

by John Nelson

GREER, S.C. — Northmarq has arranged the $49.3 million sale of Ryder Junction, a 264-unit apartment community located at 900 Conductor Circle in Greer, a city in South Carolina’s Upstate region. Andrea Howard, John Currin, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson of Northmarq represented the seller, Proffitt Dixon Partners, in the transaction. Additionally, Faron Thompson, Grant Harris and Cabell Thomas of Northmarq originated a $31.7 million Fannie Mae acquisition loan on behalf of the borrower, The Beach Co.   Built in 2023, Ryder Junction features one-, two- and three-bedroom apartments, as well as a clubhouse, pool, dog park, coworking suites, fitness center and detached garages.  

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyTexas

Rise48 Equity Acquires 142-Unit Gateway Place Apartments in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Rise48 Equity, an investment firm with offices in Phoenix, Dallas and Charlotte, has acquired Gateway Place Apartments, a 142-unit multifamily complex in the northeastern Dallas suburb of Garland. According to Apartments.com, the property was built in 1983, features one-, two- and three-bedroom units and offers amenities such as a pool, dog park and outdoor grilling and dining stations. The new ownership plans to invest $3.4 million in capital improvements to the unit interiors and building exteriors and rebrand the property as Rise Gateway. The seller and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilyTexas

Carbon Shepherd Development Completes 60-Unit Multifamily Project in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — Dallas-based Carbon Shepherd Development has completed an 60-unit multifamily project in College Station. The property, which is operated under the company’s Woodland Cottages brand, offers one- and two-bedroom units, with private balconies/patios and attached garages available in select residences. Amenities include a pool, fitness center and a clubhouse with a game room. Rents start at $2,600 per month for a one-bedroom unit.

Continue Reading
FacebookTwitterLinkedinEmail
Capstone-Centerra-Loveland-CA
AcquisitionsColoradoMultifamilySeniors HousingWestern

Hunt Midwest Sells Capstone at Centerra Seniors Housing Community in Loveland, Colorado for $40M

by Amy Works

LOVELAND, COLO. — Hunt Midwest has sold Capstone at Centerra, an assisted living and memory care property in Loveland, to California-based IRA Capital for $40 million. Completed and opened in 2023, Capstone at Centerra is Hunt Midwest’s most recent Capstone senior living development and the company’s first development in Colorado. The community offers 102 studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances and high-quality flooring. Capstone at Centerra includes a full-service dining room, fitness center, landscaped outdoor spaces, a salon, library, game room and scheduled transportation services. Capstone at Centerra is the third Capstone senior living community developed by Hunt Midwest, including the Capstone at Royal Palm in Royal Palm Beach, Fla., and Capstone at Station Camp in Gallatin, Tenn. Charles Bissell and Tony Hong of BWE Investment Sales represented Hunt Midwest in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Emberwood-Seniors-Casa-Grande-AZ
ArizonaLoansMultifamilySeniors HousingWalker & DunlopWestern

Walker & Dunlop Arranges $23.9M in Equity for Construction of Seniors Housing Complex in Arizona

by Amy Works

CASA GRANDE, ARIZ. — Walker & Dunlop has secured $23.9 million in equity for the construction of Emberwood, a to-be-built affordable seniors housing community in Casa Grande. Aaron Krasnow of Walker & Dunlop Affordable Equity team arranged the equity, which included 4 percent low-income housing tax credits and renewable energy investment tax credits, on behalf of the client, Roers Cos. Situated on 8.2 acres, Emberwood will offer 176 apartments for residents aged 55 or older, along with a separate single-story community center. The three-story residential building will feature 55 one-bedroom and 121 two-bedroom apartments all with elevator access. The property will be adjacent to a 55,000-square-foot community recreation center, which opened in 2019, that offers senior programs.

Continue Reading
FacebookTwitterLinkedinEmail
The-Residences-at-Mill-8-Ludlow
DevelopmentMassachusettsMultifamilyNortheastSeniors Housing

WinnCos. Completes 95-Unit Mixed-Income Seniors Housing Project in Ludlow, Massachusetts

by Taylor Williams

LUDLOW, MASS. — Regional affordable housing developer WinnCos. has completed The Residences at Mill 8, a mixed-income seniors housing project in Ludlow, located near Springfield in the western part of the state. The project converted a former mill building into an apartment complex with 95 units — 87 one-bedrooms and eight two-bedrooms — that are reserved for renters age 55 and above. The affordability component comprises 43 units for households earning 60 percent or less of the area median income (AMI) and 12 units for households earning 30 percent or less of AMI. The other 40 residences are rented at market rates. Amenities include onsite laundry facilities, a fitness room, resident lounge and several outdoor recreation areas, and the building also houses 48,000 square feet of commercial space. The Architectural Team designed the project, and Dellbrook | JKS served as the general contractor.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMassachusettsMultifamilyNortheast

CBRE Brokers Sale of 59-Unit Apartment Complex in Haverhill, Massachusetts

by Taylor Williams

HAVERHILL, MASS. — CBRE has brokered the sale of Ellis Factory Lofts, a 59-unit apartment complex in Haverhill, a northern suburb of Boston. Built in 2019, Ellis Factory Lofts is a redevelopment of the former Ted’s Leather Goods factory and mill. The six-story building now exclusively offers two-bedroom units, according to Apartments.com. Amenities include a resident clubroom, fitness room, bike storage area, dog wash, private courtyard and a controlled access parcel room, as well as commercial space. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, New Hampshire-based Chinburg Properties, in the transaction. The team also procured the buyer, Massachusetts-based development and investment firm SMC Management.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts