Multifamily

AMLI Residential to Develop 449-Unit Apartment Community in Addison, Texas

by Taylor Williams August 18, 2023

ADDISON, TEXAS — AMLI Residential will develop AMLI Tree House, a 449-unit apartment community that will be located in the northern Dallas metro of Addison. The development will consist of 370 market-rate apartments within the main building, 35 senior living units, 14 rental townhouses, 30 for-sale townhouses, unique live/work residences and 7,000 square feet of retail space. Construction is scheduled to begin in the first quarter of 2024, with preleasing set to launch in the second quarter of 2025. In conjunction with the branding of the property, the development team will remove and transplant four live oak trees from the property and plant over 350 new trees.

August 18, 2023

Acquisitions Multifamily Texas

Milestone Group Acquires 228-Unit Archer Stone Canyon Apartments in San Antonio

by Taylor Williams August 18, 2023

SAN ANTONIO — The Milestone Group, an investment firm with offices in Dallas, Atlanta and South Florida, has acquired Archer Stone Canyon Apartments, a 228-unit multifamily complex in San Antonio. According to Apartments.com, the property was built in 2005 and offers one-, two- and three- bedroom units that range in size from 796 to 1,630 square feet. Amenities include a pool, fitness center, resident clubhouse and a playground. The seller and sales price were not disclosed. Milestone Group plans to implement a value-add program.

August 18, 2023

Acquisitions Multifamily Texas

GREA Negotiates Sale of 63-Unit Apartment Complex in East Dallas

by Taylor Williams August 18, 2023

DALLAS — Global Real Estate Advisors (GREA) has negotiated the sale of Casa San Luis Apartments, a 63-unit multifamily complex in East Dallas. According to Apartments.com, the property was built in 1967 and offers one-, two- and three-bedroom units. Mark Allen of GREA represented the seller, Los Angeles-based Gomel Capital Partners, in the transaction. Allen also procured the undisclosed buyer.

August 18, 2023

Loans Multifamily Texas

Red Oak Capital Provides $2.3M Bridge Loan for Dallas Multifamily Property

by Taylor Williams August 18, 2023

DALLAS — Red Oak Capital Holdings has provided a 12-year, $2.3 million bridge loan for Templecliff Apartments, a 26-unit multifamily property in Dallas. Built in 1961 and renovated in 2021, the property offers one- and two-bedroom units that range in size from 750 to 1,125 square feet. The undisclosed, locally based borrower will use the proceeds to retire an existing mortgage and fund capital improvements.

August 18, 2023

Loans Multifamily Northeast Pennsylvania

Colliers Arranges $27.1M Construction Loan for Philadelphia Multifamily Project

by Taylor Williams August 18, 2023

PHILADELPHIA — Colliers has arranged a $27.1 million construction loan for a 124-unit multifamily project that will be located at 933 Canal St. in Philadelphia’s Northern Liberties neighborhood. The project carries a total price tag of $34 million and will include two commercial spaces. Bob Beckman of Colliers arranged the loan through Boston-based UC Funds on behalf of the borrower, locally based development and investment firm GY Properties.

August 18, 2023

Development Multifamily New Jersey Northeast

Accurate Completes 185-Unit Apartment Complex in Little Falls, New Jersey

by Taylor Williams August 18, 2023

LITTLE FALLS, N.J. — New Jersey-based developer Accurate has completed Citizen Little Falls, a 185-unit apartment complex located about 20 miles west of New York City. The transit-served property features one- and two-bedroom units. The amenity package comprises a fitness center, outdoor grilling and dining stations, business center, mail and package room, lobby lounge and a pet spa. Rents start at $2,640 per month for a one-bedroom apartment.

August 18, 2023

Acquisitions Multifamily New York Northeast

JLL Brokers $7.7M Sale of Manhattan Apartment Building

by Taylor Williams August 18, 2023

NEW YORK CITY — JLL has brokered the $7.7 million sale of a 15-unit apartment building located at 515 W. 47th St. in Manhattan’s Hell’s Kitchen neighborhood. The five-story building houses a mix of one-, two-, three- and four-bedroom units as well as a commercial space occupied by a coffee shop. The ground-floor rear apartments feature private outdoor spaces, and units on the fifth floor have private roof terraces. Jonathan Hageman, Hall Oster, Teddy Galligan, Braedon Gait, Jake Russell and Bob Knakal of JLL represented the seller, Corigin, in the transaction. The buyer was RockSolid Ventures.

August 18, 2023

Acquisitions Iowa Kansas Midwest Multifamily Nebraska Seniors Housing

Tutera Acquires 10 Senior Living Communities in Iowa, Nebraska, Kansas

by Kristin Harlow August 18, 2023

IOWA, NEBRASKA AND KANSAS — Tutera Senior Living & Health Care has acquired 10 communities in Iowa, Nebraska and Kansas, expanding the family-owned company’s footprint by more than 20 percent. The purchase price was undisclosed. The properties total 443 assisted living, memory care and residential care units with an average of 44 units each. Tutera is retaining all employees at the newly added communities to ensure continuity of care for residents. The properties include: Pinicon Place Senior Living in Anamosa, Iowa; Rolling Meadows Senior Living in Carroll, Iowa; Eiler Place Senior Living in Clarinda, Iowa; Amelia Senior Living in Council Bluffs, Iowa; Floyd Place Senior Living in Sergeant Bluff, Iowa; Cottonwood Place Senior Living in Columbus, Neb.; Pathfinder Place Senior Living in Fremont, Neb.; Morton Senior Living in Nebraska City, Neb.; Greene Senior Living in Seward, Neb.; and Abilene Place Senior Living in Abilene, Kan.

August 18, 2023

Illinois Loans Midwest Multifamily Seniors Housing

Greystone Provides $16.8M HUD-Insured Loan for Refinancing of Supportive Living Facility in Suburban Chicago

by Kristin Harlow August 18, 2023

ROLLING MEADOWS, ILL. — Greystone has provided a $16.8 million HUD LEAN 232/223(f) green loan for the refinancing of Plum Creek at Rolling Meadows. The 102-unit supportive living facility is situated in the Northwest Chicago suburb of Rolling Meadows. The three-story property was constructed in 1986 as a hotel and converted into supportive living in 2006. The supportive living program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. Adam Lipkin and Michael Zukerman of Greystone originated the 35-year loan. Brent Connell of Geneva Capital acted as correspondent on the transaction. The owner committed to implementing green improvements that will result in an estimated 15 percent in energy savings and 10 percent in water savings annually, amounting to projected savings of over $20,000 per year. The new HUD-insured green seniors housing program can cut closing costs by 75 basis points and reduce the interest rate by almost half a percent, according to Greystone.

August 18, 2023

Acquisitions Illinois Midwest Multifamily Retail

Greenstone Partners Brokers $3.6M Sale of Apartment, Retail Building in Chicago’s Lincoln Square

by Kristin Harlow August 18, 2023

CHICAGO — Greenstone Partners has brokered the $3.6 million sale of an 11,500-square-foot apartment and retail building in Chicago’s Lincoln Square neighborhood. Located at 2200 W. Lawrence Ave., the building is anchored by Roots Pizza and The Sixth, a two-concept retail tenant signed to a long-term lease. The property’s six apartment units were built in 2014 when the building underwent a full rehab. Danny Spitz, Jordan Multack and Tom Galvin of Greenstone represented the seller and procured the buyer, a New York-based private investor.

August 18, 2023

Newer Posts

Older Posts