GRAND PRAIRIE, TEXAS — Greysteel has brokered the sale of Wright Senior Apartments, a 154-unit age-restricted multifamily property located in the central metroplex city of Grand Prairie. The community, which is reserved for residents age 62 and over, was constructed in 2005 and houses 123 income-restricted units and 31 market-rate units in a mix of studio, one- and two-bedroom floor plans. Murphy Holloway and Doug Banerjee of Greysteel represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
GARLAND, TEXAS — Lee & Associates has negotiated a 19,386-square-foot industrial lease at 3520 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2003 and totals 64,500 square feet. Taylor Stell of Lee & Associates represented the tenant, HVAC equipment supplier Timberlake & Dickson, in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund XI.
HOUSTON — Athletics apparel and equipment retailer Hibbett Sports will open a 7,686-square-foot store at Northwest Crossing Shopping Center, a 181,239-square-foot regional power center in northwest Houston. The opening is scheduled for the fall. Jason Gaines of Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Randy Moudry of Moudry Real Estate Advisors represented Hibbett Sports. Other tenants at the center include Target, Burlington and Marshalls.
NEW YORK CITY — JLL has arranged a total of $350 million in construction debt and joint venture equity for The Italic, a 363-unit multifamily project that will be located in the Long Island City area of Queens. The Italic will house 254 market-rate units and 109 affordable housing units, as well as 10,000 square feet of retail and restaurant space. Residences will come in studio, one- and two-bedroom floor plans and have an average size of 770 square feet. Amenities will include a fitness center, basketball court, resident lounge, coworking space, rooftop terrace and a golf simulator. Christopher Peck, Alex Staikos, Rob Hinckley, Steven Rutman and Nicco Lupo of JLL placed the debt through an undisclosed lender and structured the joint venture between the locally based developer, Fetner Properties, and its partner, The Lions Group. A tentative completion date was not disclosed.
BRIDGEPORT, CONN. — Northeast Private Client Group (NEPCG) has brokered the $39.6 million sale of The Rhodium Portfolio, a collection of 13 multifamily buildings totaling 437 units in the southern coastal Connecticut community of Bridgeport. The buildings, which are located in a variety of neighborhoods across the city, house a mix of studio, one-, two- and three-bedroom apartments. Brad Balletto of NEPCG represented the buyer and seller, both of which requested anonymity, in the transaction.
ATTLEBORO, MASS. — MassHousing and HarborOne Bank have jointly provided $11.3 million in financing for a project that will convert a former mill in Attleboro, about 40 miles south of Boston, into a 43-unit residential complex. The building was originally constructed in 1908 and formerly housed the manufacturing operations of Pcraft Jewelry. The financing included construction debt, a bridge loan and state and federal tax credit equity. All units will be rented at market rates. A construction timeline was not disclosed.
CLIFTON, N.J. — New Jersey-based Prism Capital Partners has broken ground on Hackensack Meridian Health Ambulatory Care Center, an 80,000-square-foot healthcare project in Clifton, about 20 miles west of New York City. Gensler designed the four-story building, which will be located at the corner of Metro Boulevard and Route 3 on Prism’s ON3 healthcare and life sciences campus. The facility will include a surgical center, multiple specialty practice areas and a 400-space parking garage. Completion is slated for the third quarter of 2024.
DUNCANNON, PA. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the $3 million sale of a property in Duncannon, a northern suburb of Harrisburg, that consists of 31 residential units and 47 self-storage units. Arbor Manor Apartments & Storage was originally built on 5.5 acres in 1980. Matt Wolf of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.
PHOENIX — Related Group is developing Town Deer Valley, a 388-unit apartment community in Phoenix. The complex has been developed in five phases on a 20-acre site. A completion date has not been disclosed, but the project’s general contractor, locally based construction management firm GCON Inc., estimates that it is currently 80 percent complete with the overall development. Town Deer Valley will total 442,000 square feet across 19 buildings upon completion. Designed by Todd & Associates Architects, the property’s community amenities will include two pools with cabanas, a golf putting green, pet spa, children’s playground and a clubhouse with coworking space, a fitness center and an arts and crafts room.
PHOENIX — Rise48 Equity has acquired Spring, a 186-unit multifamily community in Phoenix. Living Well Homes sold the garden-style property for $42 million. Cliff David and Steve Gebing of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller in the transaction. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets arranged an undisclosed amount of acquisition financing. Built in 1984, Spring comprises 18 two-story buildings across nine acres. Community amenities include a pool, courtyard and a fitness center. Individual apartments feature washers and dryers, dishwashers, walk-in closets and patios or balconies. The average unit size is 830 square feet.