Multifamily

Experience Senior Living Plans 200-Unit Project in Lone Tree, Colorado

by Amy Works January 28, 2022

LONE TREE, COLO. — Experience Senior Living Development (ESLD), a NexCore-owned company, has unveiled plans for The Reserve at Lone Tree, a 200-unit seniors housing community in Lone Tree, approximately 15 miles south of Denver. Construction is scheduled to begin on the nine-story property in the fourth quarter of this year for completion in 2024. The community will feature 125 independent living units, 60 assisted living units and 24 memory care units. The site is located within RidgeGate, a 3,500-acre mixed-use community. Independent living units will be up to 1,650 square feet on the top floor, with assisted living units ranging from 430 to 1,100 square feet.

January 28, 2022

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Negotiates $22.7M Sale of Multifamily Complex in Paterson, New Jersey

by Taylor Williams January 28, 2022

PATERSON, N.J. — Brokerage firm Gebroe-Hammer Associates has negotiated the $22.7 million sale of Broadway Towers, a 118-unit multifamily complex located in the historic Eastside Park District in the Northern New Jersey community of Paterson. According to Apartments.com, the property was built in 1963. Units feature one- and two-bedroom floor plans. Debbie Pomerantz of Gebroe-Hammer represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

January 28, 2022

Loans Multifamily Texas

Berkadia Provides Fannie Mae Loan for Refinancing of Metro Houston Multifamily Assets Totaling 901 Units

by Taylor Williams January 27, 2022

HOUSTON, PEARLAND AND CONROE, TEXAS — Berkadia has provided a Fannie Mae loan of an undisclosed amount for the refinancing of three multifamily properties totaling 901 units in the Houston area. Parkland at West Oaks totals 323 units and is located on the city’s west side. Radius at Shadow Creek comprises 350 units and is located in the southern suburb of Pearland, and West Creek consists of 228 units and is located in the northern suburb of Conroe. The properties are part of Wisconsin-based MLG Capital’s Southstar Sun Belt Multifamily Portfolio, which also includes a 214-unit community in Lake Worth, Florida. John Koeijmans and Austin Blankenship of Berkadia originated the financing.

January 27, 2022

Acquisitions Indiana Midwest Multifamily

Rosewood Realty Group Arranges $22.2M Sale of Apartment Community in New Albany, Indiana

by Kristin Harlow January 27, 2022

NEW ALBANY, IND. — Rosewood Realty Group has arranged the $22.2 million sale of Stonecrest Apartments in New Albany, about five miles northwest of Louisville, Ky. The six-building, garden-style apartment community is located at 4719 Grant Line Road along the Ohio River and includes 144 units. The first building was completed in 2017 and the sixth building was constructed in 2021. Aaron Jungreis and David Wildes of Rosewood represented the seller, a local developer. The duo also represented the metro New York City-based buyer, which plans to add a new pool and clubhouse to the property.

January 27, 2022

Urban-188-1601-W-Camelback-Rd-Phoenix-AZ

Acquisitions Arizona Multifamily Western

Epic Investment Services Buys Two Multifamily Properties in Phoenix for $52M

by Amy Works January 27, 2022

PHOENIX — Canada-based Epic Investment Services, through its Epic Multifamily Real Estate Fund I, has acquired Urban 188 and 96, two apartment communities located at 1601 and 1545 W. Camelback Road, respectively, in Phoenix. Urban 1601 Property sold the properties for $52 million. Built in 1967, Urban 96 sold for $17 million, and Urban 188, which was built in 1970, sold for $35 million. The two properties offer a total of 284 apartments in a mix of studio, one- and two-bedroom units averaging 467 square feet. At the time of sale, the properties were approximately 98 percent leased. Chris Roach, Brad Cooke, Matt Roach and Cindy Cooke of Colliers in Arizona negotiated the transaction. Fidelity National Title handled the title and escrow for the sale.

January 27, 2022

Development Florida Multifamily Southeast

PCCP, Fore Property to Develop 410-Unit Apartment Community in Metro Orlando

by Julia Sanders January 27, 2022

OCOEE, FLA. — A joint venture between PCCP LLC and Fore Property Co. will develop The Alibi at Lake Lilly, a 410-unit apartment community in Ocoee. The construction timeline for the project was not disclosed. Situated on 16.7 acres, The Alibi at Lake Lilly will feature five four-story buildings and seven carriage and townhome buildings with 722 parking spaces. The LEED Silver-designed, garden-style community will offer 24 studios, 156 one-bedroom units, 186 two-bedroom units and 44 three-bedroom units. Interiors will include granite and quartz countertops, stainless steel appliances, hardwood style flooring, spa-inspired bathrooms with semi-frameless showers, in-unit washer and dryers and a smart home package. Community amenities will feature a 13,500-square-foot clubhouse with a sports bar area and game area, pool, outdoor lounge area with grills and firepits, 24-hour fitness center, a dog park and walking trails. Located at 2802 Old Winter Garden Road, the property is situated adjacent to the Florida Turnpike. The property is also 3.6 miles from downtown Orlando, eight miles from Orlando Health Central Hospital and 13.3 miles from Winter Garden Village, a shopping mall with tenants such as Best Buy, Chick-fil-A and LongHorn Steakhouse.

January 27, 2022

Acquisitions Kentucky Multifamily Southeast

Marcus & Millichap Brokers Sale of 30-Unit Apartment Property in Henderson, Kentucky

by Julia Sanders January 27, 2022

HENDERSON, KY. — Marcus & Millichap has brokered the sale of Elmwood Apartments, a 30-unit multifamily property located in Henderson. The property sold for $1.3 million. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap represented the buyer and seller, which were both undisclosed limited liability companies. Colby Haugness, Marcus & Millichap’s Kentucky broker of record, assisted in closing the transaction. Elmwood Apartments includes 16 one-bedroom and 14 two-bedroom units across four buildings on 1.2 acres. The property was fully occupied at the time of sale. Located at 1818 N Elm St., the property is situated across the Ohio River from Evansville.

January 27, 2022

Loans Multifamily New Jersey Northeast

BHI Provides $36M Construction Loan for Jersey City Multifamily Project

by Taylor Williams January 27, 2022

JERSEY CITY, N.J. — BHI, a full-service commercial bank that is the U.S division of Israel’s Bank Hapoalim, has provided a $36 million construction loan for 144 First Street, an 84-unit multifamily project in Jersey City. The 115,000-square-foot, transit-served property will be located in the Powerhouse Arts District. The borrower is locally based developer EPIRE. Fogarty Finger is the project architect, and Molfetta Corp. is the general contractor. Completion is slated for June 2023.

January 27, 2022

Acquisitions Multifamily North Carolina Southeast Student Housing

Coldwell Banker Negotiates $10.3M Sale of Six Student Housing Properties in Charlotte

by Julia Sanders January 27, 2022

CHARLOTTE, N.C. — Coldwell Banker Commercial MECA has negotiated the $10.3 million sale of six student housing properties in Charlotte. Bob Clay and Eric Clay of Coldwell Banker represented the undisclosed seller in the transaction. The buyer was also not disclosed. The six properties are located near the University of North Carolina at Charlotte and have a total of 196 beds in a mix of condominiums and townhomes. The properties include University Terrace (10 units and 40 beds), University Terrace North (21 units and 84 beds), Colville Gardens (15 units and 30 beds), Colville Townhomes (five units and 15 beds), Campus Walk (seven units and 21 beds) and Alexander Townhomes (two units and six beds).

January 27, 2022

Colorado Company News Multifamily NAI Western

NAI Global Adds New Specialty Service with NAI Outdoor Hospitality Brokers

by Amy Works January 27, 2022

NEW YORK AND BASALT, COLO. — NAI Global has expanded its services with a new specialty service that will do business as NAI Outdoor Hospitality Brokers. Bob Kaplan and his Colorado-based team will specialize in buying and selling RV parks, campgrounds and glamping resorts on behalf of investors throughout the United States. Kaplan and his team of three other agents and an operations manager have 27 years of combined brokerage experience in commercial real estate brokerage, during which time they have closed more than 200 transactions valued in excess of $600 million. In 2021, the team closed 18 transactions in 11 states, totaling over $84 million in value. The group’s primary geographical areas are the Rocky Mountains and Western States, Texas, the Southeast and the Northeast. NAI Outdoor Hospitality Brokers is affiliated with The National Association of Recreational Parks & Campgrounds, the American Glamping Association, the Colorado Campground & Lodging Association and the Texas Association of Campground Owners.

January 27, 2022

Newer Posts

Older Posts