FRISCO, TEXAS — HALL Group has opened a 214-unit apartment building that is part of the $7 billion redevelopment of the locally based developer’s flagship property in Frisco, HALL Park. The Monarch HALL Park is a 19-story building that is situated on a 5.8-acre site that is also the future home of Kaleidoscope Park. The complex offers 28 different floor plans and a 21,700-square-foot amenity center with a clubroom, fitness center, community kitchen, outdoor grilling and social areas. The park is scheduled to open in spring 2024. Information on starting rents was not disclosed.
BOSSIER CITY AND SHREVEPORT, LA. — Reynolds Asset Management has acquired two multifamily properties in the greater Shreveport area. The first property, Preston Place and Port Au Prince in Bossier City, totals 272 apartments in a mix of one- and two-bedroom floorplans, as well as one three-bedroom unit. Stabilized monthly rental rates at the community, which is located at 400 Preston Blvd. and will be renovated and rebranded as Preston Place North and South, range from $880 to $1,265. Reynolds purchased the property in partnership with Devli Real Estate and iintoo. John Hamilton and Josh Jacobs of Marcus & Millichap brokered the transaction. Situated on 17 acres in Shreveport, the second property — Townhomes at South Highlands — comprises 228 apartments in one-, two- and three-bedroom layouts. Reynolds acquired the community in partnership with Newport Capital Group. Stabilized monthly rents at the property range from $715 to $1,080. Renovations at the community are currently underway and scheduled for completion in October 2024.
WARNER ROBINS, GA. — Colliers Mortgage has provided an $8 million Fannie Mae loan for the refinancing of Skylar Pointe Apartment Homes, a 112-unit multifamily community located in Warner Robins. Amenities at the community include a clubhouse, swimming pool, playground, laundry facility and picnic areas. The seven-year financing features a 30-year amortization schedule. An entity doing business as ATL21WR Owner LLC was the borrower.
ABINGTON, MASS. — Marcus & Millichap has brokered the $2.5 million sale of a portfolio of three multifamily buildings totaling 16 units in Abington, about 25 miles south of Boston. The portfolio spans a combined 1.2 acres and consists of one studio apartment, 13 one-bedroom units and two two-bedroom residences. Tony Pepdjonovic and Evan Griffith of Marcus & Millichap represented the seller, an individual/personal trust, in the transaction and procured the buyer, a locally based limited liability company.
PARK CITY, UTAH — Crandall Capital is set to break ground on Studio Crossing, a mixed-use development in Park City, in late October. Spanning 320,000 square feet, Studio Crossing will feature 208 affordable housing units, approximately 100 townhomes and condominiums, retail, dining and open-air public spaces. With the first phase of the development slated for completion in 2025, Studio Crossing will add an entirely new neighborhood to Park City, while also providing eco-conscious solutions throughout its buildout. At full build out, the project will include: The project team includes Steed Construction as general contractor and Modern Out West as lead architect.
SAN RAMON, CALIF. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth seniors housing community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent living, assisted living and memory care across 177 units in a variety of studio, one-bedroom and two-bedroom layouts.
AUSTIN, TEXAS — Los Angeles-based CIM Group, in partnership with an undisclosed entity, has acquired Onyx183, a 390-unit apartment community in northwest Austin’s Parmer Corridor. Built on 21 acres in 1995, the recently renovated property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and tile backsplashes. Amenities include two pools, outdoor grilling and dining stations, a pet park and spa, fitness center and a resident clubhouse. The seller and sales price were not disclosed.
THE WOODLANDS, TEXAS — Marquette Cos., an Illinois-based developer, has broken ground on The Sylvan, a 300-unit residential project located about 30 miles north of Houston in The Woodlands. The Sylvan will consist of 188 single-family rentals and townhouses and 112 apartments. Single-family homes will feature three- and four-bedroom floor plans, range in size from 1,495 to 1,805 square feet and include private yards and garages. Ranging from 1,456 to 1,581 square feet, townhomes will have two- and three-bedroom floor plans with attached garages and private outdoor space. Apartments will come in one-, two- and three-bedroom formats and range from 650 to 1,574 square feet. Amenities will include a clubhouse, pool, fitness center and walking paths. Completion is slated for August 2025.
DURHAM, N.C. — AvalonBay Communities has purchased 6.8 acres in Durham for the development of a 930-unit apartment development. Located at 4802 Durham-Chapel Hill Blvd., the first phase will comprise 459 units in studio, one-, two- and three-bedroom floorplans across three four-story buildings. Amenities at the property will include a swimming pool, outdoor grilling areas, an indoor-outdoor fitness center and several courtyards. Construction is scheduled to begin in 2024, with the opening expected for 2026. CBRE represented the seller, Beacon Properties Group, in the transaction.
ROSWELL, GA. — Berkadia has brokered the $70.5 million sale of Grace Apartment Homes Roswell, a 396-unit multifamily property in Roswell, roughly 22 miles north of Atlanta. Located at 100 Chattahoochee Circle, the community features apartments in one-, two- and three-bedroom layouts. Amenities at the property include a swimming pool, fitness center, clubhouse and a business center. Andrew Mays, Paul Vetter, Matt White, Judy MacManus and Ian Shaw of Berkadia represented the seller, Georgia-based MSC Investment, in the transaction. RH Investment Management purchased the property.