SANTA ANA, CALIF. — The REMM Group, a property management company headquartered in Santa Ana, has been assigned as operator for eight Southern California multifamily properties totaling over 1,000 units. The largest of the properties is McComber Creek Apartment Homes, a 348-unit community in Buena Park. McComber Creek offers studio, one- and two-bedroom apartments, as well as amenities such as a pool and two tennis courts. The other seven properties include: Villa Creek Apartment Homes in Cypress; The Jagger in Los Angeles; Pasadena Village Apartment Homes in Tustin; Fountain Park Apartment Homes in Buena Park; Orange Creek Apartment Homes in Orange; Courtyard at La Pat Place Westminster; and Lincoln Village in Anaheim.
Multifamily
FERRIS, TEXAS — Dallas-based Henry S. Miller Cos. will develop Casitas Shaw Creek, a 204-unit multifamily project in Ferris, a southern suburb of Dallas. The project has a total price tag of $35 million. Casitas Shaw Creek will comprise six three-story residential buildings and a 5,000-square-foot retail building on an 11.4-acre site. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, resident clubhouse, dog park and outdoor grilling and dining areas. Construction is scheduled to begin next spring and to last about 24 months.
HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.5 million loan for the refinancing of two multifamily properties totaling 206 units in Houston. Fairmount and Atwell Village, both of which are located in the Bellaire submarket on the city’s west side, total 164 and 42 units, respectively. Both properties are currently in the midst of being renovated. Adam Pike and Brad Korndorffer of MMCC arranged the financing. The borrower and direct lender were not disclosed.
NEW YORK CITY — A joint venture between Gamma Real Estate and JVP Management has completed Sutton Tower, an 80-story residential tower located at 430 E. 58th St. within the Sutton Place neighborhood in Midtown Manhattan. The building houses 120 for-sale condos and amenities such as a pool, fitness center, sports simulator room, screening room, private dining room, children’s play area and a sculpture garden. Thomas Juul-Hansen designed the building, and global development and investment firm Lendlease served as the general contractor. Construction began in 2018. Move-ins will begin over the summer.
LINCOLNWOOD, ILL. — Luxury Living has begun leasing District 1860, a six-story luxury apartment complex in Lincolnwood, a northern suburb of Chicago. Located at 7215 District Ave., the development offers 299 units in studio, one-, two- and three-bedroom layouts. Tucker Development and AECOM-Canyon Partners, a joint venture between AECOM Capital and Canyon Partners, were the developers. District 1860 has signed retail agreements with Davanti Enoteca, Fatpour, Fat Rosie’s and Amazon Fresh Grocery. Amenities include a pool, rooftop dog run, community room, fitness center and Wi-Fi access anywhere in the community. Move-ins are anticipated to begin later this month. Rents start at $1,850 per month for studios.
DALLAS — FTK Construction Services has completed the $19 million rehabilitation of Fairway Village Apartments, a 250-unit affordable housing complex in Dallas that was originally built in 1969. Benton Design Group served as the project architect, and KeyBank provided construction financing. A partnership between Denver-based investment firm Monroe Group and Steele Properties owns Fairway Village. Exterior renovations included new roofs, paint, parking lot pavement, sidewalks and perimeter fencing. Infrastructural upgrades targeted the heating and air conditioning systems, as well as the plumbing and electrical systems. Interior improvements involved updating kitchens with new appliances, cabinets and countertops; enhancing bathrooms with new vanities, toilets and tub surrounds; and adding new flooring, interior doors, windows and fixtures. Lastly, the project team delivered a new community building with a kitchen, computer lab, playground and pavilion and also renovated the leasing and management office.
CHICAGO — General contractor Focus has completed construction of a high-rise, luxury apartment tower in downtown Chicago named 8o8. Located at 808 N. Cleveland Ave., the 23-story building features 200 apartment units, 20,000 square feet of office space and 7,500 square feet of retail space. DAC Developments and Bayview USA Holdings developed the property, which features amenities such as a pool, spa, fitness spaces, game rooms, coworking space, dog run and pet spa. Designed by Pappageorge Haymes, the project features multiple outdoor areas and 101 parking stalls. The development also features 20 affordable housing units. Monthly rents for market-rate units start at $2,175.
SKOKIE, ILL. — A joint venture between Wingspan Development Group and Tucker Development has acquired 5400 Old Orchard Road in Skokie with plans to redevelop it into a luxury apartment project with 294 units. The site currently houses an office building, demolition of which is scheduled to begin this fall. Nicholas & Associates will serve as general contractor. Plans call for 245 apartment units and 49 rental townhomes as well as commercial space. Designed by HKM Architects + Planners, the project will feature amenities such as a courtyard, pool, lounge, fitness center and coworking stations. A timeline for completion was not provided.
CHICAGO — McHugh Construction has completed Platform 4611, a nine-story apartment building in Chicago’s Uptown neighborhood. The John Buck Co. and Free Market Ventures developed the project at 4611 N. Broadway St. The property features 200 apartment units and 9,000 square feet of ground-floor retail space. Designed by Pappageorge Haymes, the development features a mix of studio, one- and two-bedroom units on floors two through eight as well as two- and three-bedroom penthouse units on the top floor. Amenities include a fitness center, reservable office space and a rooftop amenity floor with coworking space, an outdoor terrace and grilling stations. The property was 43 percent occupied as of late May. Platform 4611 is a transit-oriented development located steps from the Wilson CTA train station’s Red and Purple Lines. Monthly rents start at $1,890.
ELIZABETH, N.J. — Chicago-based lender and investment firm Pearlmark has provided a $10 million mezzanine loan for the refinancing of Vinty Apartments, a 267-unit multifamily property located in the Northern New Jersey community of Elizabeth. The five-story building includes 27,000 square feet of retail space that is 68 percent leased. The property offers studio, one- and two-bedroom units and amenities such as a game room, fitness center and a juice bar. Michael Klein and Steven Klein of JLL arranged the debt on behalf of the sponsor, a partnership between LeCesse Development Corp. and MAS Development Group. Vinty Apartments was 85 percent occupied at the time of the loan closing. Argentic Investment Management provided the senior loan, which totaled $97.2 million.