Multifamily

Tandem Partners Opens 196-Unit Sage West Loop Luxury Apartment Tower in Chicago

by Kristin Harlow October 2, 2023

CHICAGO — Tandem Partners has opened Sage West Loop, a 196-unit luxury apartment tower rising 18 stories in Chicago’s West Loop. KTGY served as the architect for the project, which features amenities such as coworking spaces, a fitness center, game room and outdoor terrace. Units come in studios, one- and two-bedroom layouts and range from 439 to 1,073 square feet. There is also 1,806 square feet of retail space and 70 parking spaces. Residents can now earn up to two months of free rent on select units, according to the property’s website. Monthly rents start at $1,595.

October 2, 2023

Acquisitions Indiana Midwest Multifamily

CBRE Brokers Sale of 208-Unit Princeton Lakes Apartment Community in Suburban Indianapolis

by Kristin Harlow October 2, 2023

NOBLESVILLE, IND. — CBRE has brokered the sale of Princeton Lakes, a 208-unit apartment community in the Indianapolis suburb of Noblesville. Completed in 2005, the property at 17955 Murray Place features a range of one, two- and three-bedroom floor plans averaging 1,021 square feet. Amenities include a pool, picnic area, clubhouse, playground and walking trails. Steve LaMotte Jr., Dane Wilson and Ross Wettersten of CBRE represented the seller, Pedcor Cos. A local private investor purchased the property for an undisclosed price.

October 2, 2023

Acquisitions Multifamily Southeast Tennessee

CBRE Brokers $78.5M Sale of Broadstone SoBro Apartments in Nashville

by John Nelson October 2, 2023

NASHVILLE, TENN. — CBRE has brokered the $78.5 million sale of Broadstone SoBro, a new 226-unit apartment community located at 800 4th Ave. S in Nashville’s SoBro neighborhood. AND Asset Management purchased the community, which was more than 90 percent occupied at the time of sale. The seller was not disclosed, but Alliance Residential Co. delivered the property last October. Brett Carr, David Smithwick and Shea Campbell of CBRE represented the seller in the transaction. Broadstone SoBro is an eight-story, podium-structure building with five levels of apartments atop three levels of structured parking. The property features a mix of studio, one-, and two-bedroom floor plans averaging 780 square feet. Amenities include a champagne bar-inspired sky lounge, saltwater pool, fireplace with lounge seating, private offices and coworking space, 24/7 fitness center and a package concierge system.

October 2, 2023

Acquisitions Georgia Multifamily Southeast

Equus Capital Sells 500-Unit Madison Druid Hills Apartments in Atlanta

by John Nelson October 2, 2023

ATLANTA — Equus Capital Partners Ltd. has completed the sale of Madison Druid Hills, a 500-unit garden-style apartment community in Atlanta’s Druid Hills neighborhood. David Gutting of Newmark represented Equus, which sold the asset on behalf of its Equus Investment Partnership X LP investment vehicle, in the transaction. The buyer and sales price were not disclosed. Since its acquisition of Madison Druid Hills in 2017, Equus completed a multimillion-dollar capital improvement program that included new roofs, exterior paint, clubhouse renovations, the addition of a dog park and green upgrades, including water efficient aerators throughout all units. Madison Druid Hills includes a mixture of recently renovated one-, two- and three-bedroom apartments. Amenities on the 49-acre site include an outdoor swimming pool, fitness center, car care center, barbecue grills and picnic area with a fire pit and two tennis courts.

October 2, 2023

Acquisitions Maryland Multifamily Southeast

KLNB Negotiates Sales of Two Apartment Communities in Gaithersburg, Maryland

by John Nelson October 2, 2023

GAITHERSBURG, MD. — KLNB has negotiated the sale of two apartment communities in Gaithersburg totaling 194 units. The properties include Towne Crest and Chelsea Park. Acento Real Estate Partners purchased both communities from the undisclosed sellers. The sales prices were also not disclosed. Acento plans to make renovations to both properties and add amenities. Rawles Wilcox, Jared Emery and Dutch Seitz of KLNB represented the sellers in both transactions.

October 2, 2023

Development Multifamily Seniors Housing Texas

Tradition Senior Living Completes 297-Unit Project in Fort Worth

by Taylor Williams September 29, 2023

FORT WORTH, TEXAS — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth. The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet. Residents have access to 24-hour concierge and valet services, secure parking and transportation options. Common areas include lounges, card rooms, a movie theater, fitness center, pool and other spaces for daily social activities and wellness programs. Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.

September 29, 2023

Acquisitions Multifamily Texas

SPI Advisory Acquires 164-Unit Riverbend Apartments in New Braunfels, Texas

by Taylor Williams September 29, 2023

NEW BRAUNFELS, TEXAS — Texas-based private equity firm SPI Advisory has acquired Hawthorne Riverside, a 164-unit multifamily complex in New Braunfels, a northwestern suburb of San Antonio. Built in 1995, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, volleyball court, cybercafé, pet park, resident clubhouse, business center and outdoor grilling and dining stations. SPI Advisory plans to implement a value-add program and rebrand the property as Riverbend Apartments. The seller and sales price were not disclosed.

September 29, 2023

California Development Mixed-Use Multifamily Office Retail Western

Carmel Properties Plans 1 MSF Forge at Alloy Mixed-Use Project in Los Angeles

by Amy Works September 29, 2023

LOS ANGELES — Carmel Properties has announced plans for Forge at Alloy, a 1 million-square-foot mixed-use property at 530 Mateo St. in Los Angeles’ Art District. The developer has retained Mike Condon Jr., Brittany Winn, McKenna Gaskill, Pete Collins and Steven Marcussen of Cushman & Wakefield to lead leasing effort for the project, which is slated for completion in third-quarter 2024. Forge at Alloy will consist of a six-story, Class A building featuring 127,456 square feet of creative office space and 18,000 square feet of ground-floor retail space, outdoor space with seating and lounge areas, a rooftop deck and three levels of parking. The second building will be a 35-story, 475-unit residential tower. The office and residential components will be connected via a pedestrian and retail paseo, formerly a rail spur, between Mateo Street and Santa Fe Avenue. The paseo will house year-round activities and attractions, including public art installations, outdoor concerts, movies and other special events.

September 29, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $13.4M Agency Loan for Refinancing of Seniors Housing Complex in Metro Houston

by Taylor Williams September 29, 2023

HUMBLE, TEXAS — New York City-based Lument has provided a $13.4 million Fannie Mae loan for the refinancing of The Fordham at Eagle Springs, a 137-unit seniors housing complex in Humble, a northern suburb of Houston. The six-building, age-restricted community was built in 2020 within the Eagle Springs master-planned development and offers a pool, salon and a coffee bar. Tom Dixon of Lument originated the financing, which was structured with a 10-year term (four years of which are interest-only), fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

September 29, 2023

Acquisitions Affordable Housing Development Maryland Multifamily Southeast

APAH Acquires 170-Unit Falkland Chase Apartment Community in Silver Spring, Maryland

by Hayden Spiess September 29, 2023

SILVER SPRING, MD. — Arlington Partnership for Affordable Housing (APAH) has acquired Falkland Chase, a 170-unit apartment community in Silver Spring, just north of Washington, D.C. JBG Smith sold the property for an undisclosed price. APAH plans to redevelop the property and create 1,250 new units in a mix of one-, two- and three-bedroom layouts. Most of the new apartments will be reserved for residents earning at or below 60 percent of the area median income (AMI). Partners on the project include The Housing Partnership Fund, Woodforest National Bank and the National Housing Trust Community Development fund.

September 29, 2023

Newer Posts

Older Posts