DALLAS — Weitzman has arranged the sale of a 6.5-acre multifamily development site in southwest Dallas. The site is located at the corner of Illinois Avenue and Knoxville Street, across from the Dallas College Mountain View campus. Scott Smith and Corbin Tanenbaum of Weitzman represented the seller and occupant, the Templo De Alabanza Church, in the transaction. The buyer, Generation Housing Partners LLC, in partnership with the City of Dallas, will develop a mixed-income project on the site that will be known as HiLine Illinois.
WILTON, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $30.7 million sale of McGregor Village Apartments, a 212-unit multifamily complex in Wilton, about 40 miles north of Albany. McGregor Village offers one- and two-bedroom units and amenities such as a fitness center, clubhouse and a playground. Michael Hunter Coghill and Chad Sinsheimer of Adirondack Capital Partners represented the buyer, New York-based investment firm Elar Group, in the transaction. The seller, Bruce Tanski Construction, was self-represented.
NASHVILLE, TENN. — Walker & Dunlop has arranged a $105 million loan for the refinancing of 805 Lea, a 356-unit apartment tower in downtown Nashville. Built in 2021, the property features 10,203 square feet of ground-floor retail space across three suites. Amenities include a 24-hour concierge services, 29th floor sky lounge, saltwater swimming pool, fitness center and two outdoor fire pits. Stephen Farnsworth led the Walker & Dunlop team that arranged the three-year loan through Nuveen on behalf of the borrower, Key Real Estate Co. The loan features two optional 12-month extensions.
GREER, S.C. — Developer Advenir Oakley Capital and general contractor Capstone Building Corp. have completed construction of LEO Jamestown, a $78 million build-to-rent (BTR) development in Greer, a city 12 miles northeast of Greenville. Located at 1015 S. Main St., LEO Jamestown includes 296 one-, two- or three-bedroom homes. Monthly rental rates range from $1,399 to $2,099, according to Apartments.com. Amenities include a resort-style pool, pool house, clubhouse, a fitness center and outdoor green spaces. Advenir Azora is managing the property.
DES MOINES, IOWA — CBRE has brokered the sale of the Wings 914 Portfolio, a collection of six multifamily properties totaling 1,610 units in metro Des Moines. The transaction marks the largest multifamily deal ever recorded in the state of Iowa, according to CBRE. Cy Fox, Matt Bukhshstaber, Ray Hamilton and Clark Matthews of CBRE represented the undisclosed seller, which directed a significant portion of the assets to charitable causes through the National Christian Foundation. The properties were built between 1988 and 2015. Further details were not provided.
DETROIT — Bedrock has completed City Modern in Detroit’s Brush Park neighborhood. The project adds 20 newly constructed buildings, along with the rehabilitation of three historic mansions into five homes, providing a total of 450 new residences to the area. The mixed-income development features apartments, townhomes, carriage homes, condominiums and 31,000 square feet of retail space. Bedrock worked with six architectural firms on the project — Hamilton Anderson Associates, Merge Architects, Lorcan O’Herlihy Architects, Studio Dwell, McIntosh Poris Architects and Christian Hurttienne. The Residences at City Modern offers 286 rental units across eight buildings. Amenities include rooftop terraces, a fitness center and gathering spaces. The Flats at City Modern is an affordable housing community with 54 units reserved for residents age 55 and older. Opened in 2019, The Flats features a rooftop terrace, fitness space and community lounge. The Carriage Homes at City Modern, developed and built by Hunter Pasteur, provides 53 units. Merge Architects reimagined the traditional carriage house into a duplex-style home with shared courtyards. Hunter Pasteur’s Townhomes at City Modern includes 52 for-sale units. The multi-level residences feature two- to four-bedroom floor plans. Additionally, Bedrock preserved three historic Victorian-era mansions, transforming them into five homes that were …
COLUMBUS, OHIO — LV Collective and Virtus Real Estate Capital have opened Rambler Columbus, a 407,465-square-foot student housing development in Columbus. The 379-unit, 889-bed project is a three-minute walk from The Ohio State University’s main quads. Floor plans range from studios to six-bedroom units. There are also two-level, two-bedroom townhomes. Amenities include private study spots, conference rooms, a fitness center, yoga studio, sauna, cold plunge pool, pet spa and pool deck with a Jumbotron, grilling area and firepits. An onsite coffee shop, Daydreamer Café, serves handcrafted espresso drinks, coffee, tea, pastries and snacks. The first retail tenant is Victory Lap, which offers an Ohio State-themed sports bar. Rambler Columbus features an additional 4,000 square feet of retail space. The project team included Elford Inc. as general contractor, OZ Architecture as the architect, Variant Collaborative as the interior designer, E.P. Ferris as civil engineer and Realm Collaborative as landscape architect.
By Diane Batayeh, Village Green To be successful at multifamily property management involves equal parts of communication, alignment and trust. There are several stakeholder groups to consider when making decisions about how best to operate and set up an apartment community for long-term success. Between residents, employees and owners, there are differing and sometimes conflicting objectives and perspectives to consider. In today’s quickly evolving multifamily landscape, satisfying everyone can be challenging and it requires a delicate balance to maintain all stakeholders’ satisfaction while also achieving their respective goals. With the right approach, however, multifamily executives can successfully navigate the wants and needs of all parties and effectively sustain their trust and satisfaction while positioning the property to achieve economic success. Fostering connections In multifamily property management, everything matters — from the property’s aesthetic appearance to the friendliness of onsite staff to the property’s digital identity and website navigation experience. These touchpoints are often referenced by both prospects and residents when evaluating their living experience, making it imperative to maintain and uphold a positive impression. To protect a property’s reputation and best serve residents, it’s critical to remain aware of their impressions through regular resident surveys that measure preferences and satisfaction …
BETHESDA, MD. AND ATLANTA — Elme Communities (NYSE: ELME), a Maryland-based multifamily owner-operator that previously operated as WashREIT, has entered into a purchase and sale agreement with an affiliate of Cortland Partners, an Atlanta-based multifamily investment and management firm. Under the terms of the transaction, Elme would sell 19 apartment communities to Cortland for $1.6 billion in an all-cash deal. “We are pleased to have reached an agreement with Cortland that recognizes the greater value of these 19 Elme communities and their long-term potential when coupled with Cortland’s economies of scale,” says Paul McDermott, president and CEO of Elme. “We believe Cortland will be an excellent steward of the properties and that this sale will facilitate a seamless transition of ownership, enabling continuity of operations for our residents and community teams.” Steven DeFrancis, CEO of Cortland, said that the portfolio will grow the company’s presence in the Washington, D.C., region and in its home state of Georgia. “We’re excited to welcome these communities into the Cortland family and deliver the exceptional living experience residents have come to expect from our brand,” says DeFrancis. The properties include: Goldman Sachs & Co. LLC and Jones Lang LaSalle Securities LLC are acting as …
SAN DIEGO — The San Diego division of construction firm Swinerton has been tapped to lead the design-build team for a 3,640-bed project on the San Diego State University (SDSU) campus. Dubbed the “Evolve Student Housing” project, the development will include a suite-style residence hall named Tarastec, offering 650 beds for freshman and sophomore students; University Towers East, a 720-bed residence hall offering double-occupancy rooms for first-year students; and Templo del Sol, a two-story, 17,420-square-foot community center with dining facilities, communal spaces, food services, conference rooms and mailing services. Tarastec and Templo del Sol will be located on the west side of the SDSU campus near 55th Street and Aztec Circle Drive. University Towers East will be located next to the existing University Towers development on Montezuma Road. Construction on Tarastec began this summer with completion scheduled for fall 2026. University Towers East is expected for completion in fall 2027. Architectural firm Gensler is part of the development team for the project.