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AcquisitionsAlabamaMultifamilySoutheast

Oakley Group Buys Flats at East Bay Apartments in Fairhope, Alabama for $49.8M

by John Nelson

FAIRHOPE, ALA. — Birmingham, Ala.-based Oakley Group has acquired Flats at East Bay in Fairhope for $49.8 million. Stoa Group was the seller. Craig Hey of Cushman & Wakefield arranged the sale. Oakley has appointed Arlington Properties to manage the 240-unit community, which is located at 9376 Twin Beech Road on the eastern shoreline of Mobile Bay, about 26 miles south of Mobile. Flats at East Bay was completed in 2024 and features 10 three-story buildings with one-, two- and three-bedroom units and amenities such as a resort-style pool with cabanas, a fitness center, dog park, walking trails, grills, coworking space with conference rooms, fire pit and electric vehicle charging stations.

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Hanover-Crossing-Residences
AcquisitionsMassachusettsMultifamilyNortheast

Hanover Co. Sells 297-Unit Apartment Complex in Hanover, Massachusetts

by Taylor Williams

HANOVER, MASS. — Houston-based owner-operator The Hanover Co. has sold a 297-unit apartment complex in Hanover, located southeast of Boston. Hanover Crossing Residences was built in 2023 and comprises four four-story buildings that house one-, two- and three-bedroom units with an average size of 934 square feet. Amenities include a pool, entertainment kitchen and social lounge, fitness center, coworking space and outdoor grilling and dining areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction. The buyer was an affiliate of AEW Capital Management. The sales price was not disclosed.

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DevelopmentGeorgiaMixed-UseRestaurantRetailSoutheast

Atlantic Residential Gives Update on 47,000 SF Retail Plaza at Crossing at Coal Mountain in Metro Atlanta

by John Nelson

CUMMING, GA. — Atlantic Residential has made progress on Phase I of the retail plaza at The Crossing at Coal Mountain, a 140-acre mixed-use development underway in Cumming, a northern suburb of Atlanta. The project sits in the Coal Mountain region of north Forsyth County and will feature apartments, retail space and for-sale homes being developed in partnership with Toll Brothers. Atlantic Residential broke ground in July on the 47,000 square feet of shops, restaurants and entertainment space at the development, with plans to complete construction in summer 2026. Food-and-beverage concepts at The Crossing at Coal Mountain will make up 60 percent of the retail offerings, while the remaining 40 percent will include soft goods and services such as spas, salons, fitness concepts and a 20,000-square-foot pad ideal for a small-format grocery or market anchor, as well as other service-based businesses. Atlantic Residential has selected Jennifer Steffen and Matt Maloney of JLL to handle the retail leasing assignment at the development. Construction progress to date includes framing of the project’s mixed-use building up to its fifth level, two of the multifamily buildings and installation of roads and infrastructure.

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Affordable HousingDevelopmentGeorgiaSeniors HousingSoutheast

Columbia Residential Completes $35M Redevelopment of Affordable Seniors Housing Community in Atlanta

by John Nelson

ATLANTA — Locally based Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta. Originally built in the 1970s, the newly reopened property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income (AMI). Rents are capped at 30 percent of household income through project-based vouchers. Financing for the redevelopment included $12.4 million in equity from Truist Community Capital via 9 percent low-income housing tax credits (LIHTC) allocated by the Georgia Department of Community Affairs; a $10.5 million construction-to-permanent loan from Atlanta Housing; an $8 million construction loan and $5.6 million permanent mortgage from Truist Bank; $4 million in National Housing Trust Funds from the Georgia Department of Community Affairs; $1 million in housing opportunity bond financing from Invest Atlanta, the City of Atlanta’s economic development agency; a $1 million seller note from Atlanta Housing; and $400,000 in deferred developer fees by Columbia Residential. Dash & Dwell coordinated resident relocations during construction, and a partnership with Matter Health now provides …

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FloridaLoansRetailSoutheast

MMCC Arranges $3.9M Refinancing for Shopping Center in Clermont, Florida

by John Nelson

CLERMONT, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.9 million loan for the refinancing of a 15,520-square-foot retail strip center located at 9350 U.S. 192 in Clermont, 26 miles southwest of Orlando. Tenants at the property include several restaurants, a healthcare office and a tattoo parlor. Garrett Fierstein of MMCC’s Orlando office secured the financing through a national credit union on behalf of the privately based borrower. The loan features a 10-year term with a 25-year amortization period and a 65 percent loan-to-value ratio.

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LoansMixed-UseNew YorkNortheast

Cronheim Mortgage Arranges $10.3M Loan for Refinancing of Yonkers Mixed-Use Portfolio

by Taylor Williams

YONKERS, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged a $10.3 million loan for the refinancing of a two-building, mixed-use portfolio in Yonkers, located north of New York City. The portfolio consists of Nepperhan Plaza, an office and retail building, and YoHo Lofts, a multi-story industrial loft building that has been converted to artist housing. The names of the direct lender and borrower were not disclosed.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $3.4M Sale of Metro Boston Apartment Building

by Taylor Williams

WALTHAM, MASS. — Marcus & Millichap has brokered the $3.4 million sale of a nine-unit apartment building located in the western Boston suburb of Waltham. The building at 9-19 Brown St. houses a mix of one- and two-bedroom apartments and three-bedroom townhouses, as well as six rentable garages. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsIndustrialMaineNortheast

Colliers Negotiates Sale of 24,280 SF Industrial Complex in Berwick, Maine

by Taylor Williams

BERWICK, MAINE — Colliers has negotiated the sale of a 24,280-square-foot industrial complex in Berwick, located on the Maine-New Hampshire border. The sales price was $1.9 million. The property consists of two buildings on an 8.4-acre site that were 76 percent leased to four tenants at the time of sale. Andrew Ward and Tim Braseth of Colliers represented the seller, Mick Construction Corp., in the transaction.

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Alta-87-Gilbert-AZ
ArizonaDevelopmentMultifamilyWestern

Wood Partners Opens Alta 87 Apartment Complex in Metro Phoenix

by Amy Works

GILBERT, ARIZ. — Wood Partners has opened Alta 87 in Gilbert, a southeastern suburb of Phoenix located about 23 miles from downtown. Alta 87 is a 257-unit development comprised of one-, two- and three-bedroom units. Amenities include two pickleball courts, electric vehicle charging stations, a pool and hot tub and a two-story clubhouse with a fitness center,  coworking spaces, a speakeasy and bike storage. The developer broke ground in March 2024. Atlanta-based Wood Partners completed three other Alta-branded communities in Phoenix in 2024: Alta Avondale, Alta Rise and Alta Uptown.

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Pearl-St-Rose-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

MG Properties Acquires 270-Unit Multifamily Property in Las Vegas for $64M

by Amy Works

LAS VEGAS — MG Properties has acquired The Pearl at St. Rose, a multifamily community in Las Vegas’ Silverado Rancho master-planned community, from an affiliate of The CONAM Group for $64 million. Charles Steele, John Cunningham and Jared Glover of Berkadia represented the seller. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing through Freddie Mac. Situated along the St. Rose Corridor in South Las Vegas, The Pearl at St. Rose offers 270 apartments with spacious floor plans and modern interior finishes. Community amenities include a pool and spa, fitness center, dog park and resident clubhouse. The property was built in 2000.

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