Multifamily

TMG Arranges Sale of 80-Unit Stepping Stone Apartments in San Antonio

by Taylor Williams May 13, 2024

SAN ANTONIO — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Stepping Stone Apartments, an 80-unit multifamily complex in San Antonio’s Westwood Village neighborhood. Built in 1985, the property offers one- and two-bedroom units with an average size of 701 square feet. Amenities include a pool, outdoor grilling and dining stations and onsite laundry facilities. Paul Yazbeck of TMG represented the seller in the transaction, and Greg Miller of TMG procured the buyer. Both parties requested anonymity.

May 13, 2024

Development Multifamily New Jersey Northeast

Halpern Real Estate Completes 337-Unit Birch House Apartments in Jersey City

by Taylor Williams May 13, 2024

JERSEY CITY, N.J. — Locally based developer Halpern Real Estate Ventures has completed Birch House, a 337-unit apartment community located at 49 Fisk St. in Jersey City’s West Side neighborhood. Designed by Minno & Wasko Architects & Planners, the six-story building houses studio, one- and two-bedroom units and roughly 50,000 square feet of indoor and outdoor amenity space. Other project partners included JRM Construction Management and The Corcoran Group, which is marketing the property for lease. Construction began in late 2021 and topped out in spring 2023.

May 13, 2024

Acquisitions Connecticut Multifamily Northeast

NEPCG Negotiates $5.2M Sale of Willow Park Apartments in Danbury, Connecticut

by Taylor Williams May 13, 2024

DANBURY, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $5.2 million sale of Willow Park Apartments, a 21-unit multifamily complex located in the southern Connecticut city of Danbury. According to Apartments.com, the property exclusively offers one-bedroom units that span 575 square feet. Jeff Wright and Rich Edwards of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

May 13, 2024

Acquisitions Multifamily Texas

JLL Brokers Sale of 259-Unit Multifamily Property in Downtown Austin

by Taylor Williams May 10, 2024

AUSTIN, TEXAS — JLL has brokered the sale of 3Waller, a 259-unit multifamily property in downtown Austin. Built in 2022, the property offers studio, one- and two-bedroom micro-units that have an average size of 467 square feet. According to Apartments.com, amenities include a pool, fitness center, coworking space, resident lounge and a rooftop deck. Ryan McBride, Robert Arzola, Robert Wooten, Alex Fernandes and Nick Beardslee of JLL represented the seller, Transwestern, in the transaction. Placemakr acquired the asset for an undisclosed price.

May 10, 2024

Acquisitions Arizona Multifamily Western

Evergreen Devco Sells 258-Unit Multifamily Property in Tolleson, Arizona

by Amy Works May 10, 2024

TOLLESON, ARIZ. — Evergreen Devco has sold Parc Tolleson, a 258-unit multifamily property located about 15 miles west of Phoenix. The sales price was $62.7 million. Completed in 2023, the garden-style community features one-, two- and three-bedroom units with an average size of 961 square feet. Residences features nine-foot ceilings, vinyl plank flooring and full-size washers and dryers. Amenities include a pool with fireplace lounges and poolside dining areas, electric vehicle charging stations, a pet spa, 24-hour fitness center and a clubhouse with gaming tables, seating areas and a coffee bar. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented Evergreen Devco in the transaction. Troy Tegeler and Trevor Breaux, also with CBRE, arranged acquisition financing on behalf of the buyer, Millburn & Co.

May 10, 2024

Acquisitions Florida Multifamily Southeast

American Landmark Acquires 444-Unit Pointe on Westshore Multifamily Community in Tampa

by John Nelson May 10, 2024

TAMPA, FLA. — American Landmark Apartments has acquired The Pointe on Westshore, a 444-unit multifamily community located at 4950 W. Prescott St. in the Westshore Marina District of Tampa. Built in 2021, the property features 13 five-story apartment buildings and two-story townhomes, with residences in one-, two- and three-bedroom floor plans. Amenities at the community include a swimming pool, fitness center, pet spa, business center and barbecue and picnic area. The seller and sales price were not disclosed.

May 10, 2024

Affordable Housing Development Georgia Loans Seniors Housing Southeast

Berkadia Secures HUD-Insured Financing for $72M Affordable Seniors Housing Development in Atlanta

by John Nelson May 10, 2024

ATLANTA — Berkadia has arranged financing for Englewood Senior, a 160-unit affordable seniors housing development in Atlanta. Located at 413 Englewood Ave. SE, the proposed $72 million development would offer independent living units for seniors earning 60 percent or less of the area median income (AMI). Planned amenities at the property include a fitness center, movie theater, community room and an outdoor courtyard. Carolyn Whatley and Angela Folkers of Berkadia FHA/HUD secured the construction and permanent financing through HUD’s 221(d)(4) program. The undisclosed developer has also received low-income housing tax credit (LIHTC) equity and municipal funding.

May 10, 2024

Development Georgia Multifamily Southeast

Alliance Residential Delivers 340-Unit Prose Columbus Apartments in Georgia

by John Nelson May 10, 2024

COLUMBUS, GA. — Alliance Residential Co. has opened Prose Columbus, a 340-unit apartment community located at 6700 River Road in Columbus. Situated less than 80 miles southwest of Atlanta via I-85, the multifamily development features one- and two-bedroom floor plans averaging 960 square feet in size. Monthly rental rates begin at $1,470, according to the property website. Designed by architect Dynamik Design, amenities include a resort-style, saltwater pool with tanning shelves and in-pool loungers, two grilling stations and a resident clubroom with an entertainment kitchen. Additional features include a 24-hour fitness center with Precor equipment, mailroom with Luxor parcel lockers, business center with coworking space and a fenced dog park. Prose Columbus represents the fourth Prose-branded community to open in Georgia. Alliance Residential recently completed Prose LaGrange as well and is under construction on its sixth and seventh Prose developments in the state: Prose Gainesville and Prose McDonough.

May 10, 2024

Arizona Loans Multifamily Walker & Dunlop Western

River City Bank Provides $15M Loan for Refinancing of Villa Montaña Apartments in Scottsdale

by Amy Works May 10, 2024

SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.

May 10, 2024

Acquisitions Multifamily New York Northeast

Benchmark Real Estate Acquires Manhattan Apartment Building for $43M

by Taylor Williams May 10, 2024

NEW YORK CITY — Locally based investment firm Benchmark Real Estate Group has acquired a 62-unit apartment building located at 194 E. 2nd St. in Manhattan’s East Village area for $43 million. The elevator- and doorman-served building was constructed in 1999 and houses one-, two-, four- five- and six-bedroom units as well as 10,000 square feet of ground-floor retail space. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller, Skyline Developers, which purchased the building in 2000, in the transaction.

May 10, 2024

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