LOS ANGELES — CBRE has hired John Boyett as first vice president and Adam Feldman as a senior associate in the firm’s Woodland Hills office in Los Angeles. Boyett and Feldman will focus on multifamily investment sales in the Los Angeles metropolitan area. Boyett previously served as associate vice president at Matthews Real Estate Investment Services. Feldman also worked at Matthews as a senior associate, where he specialized in the acquisition, disposition and analysis of multifamily assets.
HICKORY, N.C. — Greystone has provided a $24.1 million HUD 223(f) loan for the refinancing of Argyle Place Apartments, a 216-unit multifamily community located in the Charlotte suburb of Hickory. Lisa Fischman of Greystone originated the loan on behalf of the borrower, Pressly Development Co. The HUD-insured loan carries a 35-year term and amortization schedule along with a low, fixed interest rate. In addition to refinancing, loan proceeds enable Pressly Development to make renovations to Argyle Place and fund new construction projects. The property features one-, two- and three-bedroom units that were originally constructed in 1987 and 2001 and renovated in 2018.
DALLAS — ZOM Living has received a $109 million loan for the refinancing of Atelier, a 41-story luxury apartment tower in the Dallas Arts District. The property consists of 417 units, including 53 lofts. Floor plans range from 500 to 2,300 square feet. Designed by Stantec, Atelier features a lobby meant to emulate an art gallery. Local organizations showcase rotating public art installations and host events on site. The property also features 15,000 square feet of ground-level retail space that is leased to dining, arts and entertainment concepts. Atelier is roughly 93 percent leased. Amenities include an infinity edge pool, yoga lawn, outdoor lounge, fitness center, coworking space, private wine lockers, an entertainment lounge, catering kitchen, resident market and pet spa. The building is within walking distance of the AT&T Performing Arts Center, the Dallas Museum of Art, the Crow Museum of Asian Art and the Nasher Sculpture Center. ZOM continues to expand its footprint in the Texas market, where it has had an active presence for the past 20 years and has completed over a dozen residential projects. “This refinancing underscores the strength of the Texas market, which is experiencing a surge in housing demand and leads the nation …
HOUSTON — Partners Real Estate has arranged the sale of a 22-unit apartment building located at 4525 Weaver Road in North Houston. According to LoopNet Inc., the two-story building was constructed on a half-acre site in 1972 and renovated in 2022. Ryan DeGennaro of Partners represented the seller, Mell Investment Group, in the transaction. Enrique Moreno Jr. of eXp Commercial represented the undisclosed buyer.
HACKENSACK, N.J. — Locally based developer Garden Communities has opened The Jefferson, a 377-unit apartment community located outside of New York City in Hackensack. Designed by Minno & Wasko Architects & Planners, The Jefferson features one- and two- bedroom units ranging in size from 735 to 1,598 square feet, with most residences offering private balconies/patios. Communal amenities include a pool, fitness center, business center, private bowling alley, a billiards and entertainment room, golf simulator, children’s playroom, outdoor grilling and dining areas and a dog park. Rents start at $2,490 per month for a one-bedroom apartment.
BUFFALO, N.Y. — Community Preservation Partners (CPP) has acquired Ellicott Park Townhomes, a 220-unit affordable housing complex in downtown Buffalo. Built in 1967, the property consists of one-, two- and three-bedroom units that are reserved for households earning 60 percent or less of the area median income. The seller and sales price were not disclosed, but CPP plans to implement a $14.2 million capital improvement program that will be part of a total investment consideration of $54.7 million.
MASON, OHIO — Senior Living Investment Brokerage (SLIB) has brokered the sale of The Landing of Long Cove, an 81-unit assisted living and memory care community in Mason, about 25 miles northeast of Cincinnati. The sales price was undisclosed. Built in 2011, the property features 61 assisted living units and 20 memory care units. Daniel Geraghty and Bradley Clousing of SLIB brokered the sale. According to SLIB, the seller was interested in focusing its attention on communities that more closely align with its current footprint, while the buyer, a Midwest-based owner-operator, was looking to add to its existing footprint throughout the region. The buyer plans to make renovations to the community.
WENTZVILLE, MO. — Marcus & Millichap has arranged the $5 million sale of Heritage Townhomes, a 40-unit multifamily property in the western St. Louis suburb of Wentzville. The seller, a private investor, acquired the property in October 2019 and installed new flooring, kitchen appliances and upgrades to the bathrooms. The improvements resulted in a $200 per unit average increase in value over three years, according to Marcus & Millichap’s Ben Margalski, one of the brokers on the transaction. Margalski and colleague Aaron Kuroiwa represented the seller as well as the buyer, a private investor completing a 1031 exchange.
NEW YORK CITY — Locally based brokerage firm GFI Realty has arranged the $4.1 million sale of a 29-unit multifamily building located at 1342 St. Lawrence Ave. in the Soundview neighborhood of The Bronx. Built in 1928, the five-story building houses 23 one-bedroom units and six two-bedroom units.Zachary Fuchs of GFI Realty represented the seller and procured the buyer, both of which were private investors, in the transaction.
GOODYEAR, ARIZ. — Gantry has arranged a $41.6 million loan to refinance the Lunaire Apartments in Goodyear. The 240-unit community is located at 949 S. Goodyear Blvd. Amenities include modern unit interior finishes, recent landscape and exterior renovations, resort-style pool and spa, 24-hour fitness center, covered parking and EV charging stations. The five-year, fixed-rate loan was placed with Freddie Mac. It features an interest-only period and an interest rate below 5 percent.