NEW HAVEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Orange Gardens, a 175-unit apartment complex in New Haven. The property comprises 13 buildings that were constructed on a 6.2-acre site between 1963 and 1969. According to Apartments.com, units come in studio, one- and two-bedroom formats. Wes Klockner, Eric Pentore, Victor Nolletti and Ross Friedel of IPA represented the undisclosed seller in the transaction and procured the buyer. Both parties were limited liability companies that requested anonymity.
WASHINGTON, D.C. AND ALEXANDRIA, VA. — Atlanta-based Jamestown has sold its stake in The Georgetown Renaissance Portfolio, a collection of 22 boutique retail and residential buildings in Washington, D.C.’s Georgetown neighborhood and a lone property in nearby Alexandria, Va. New York-based Acadia Realty Trust, already a minor owner of the portfolio, purchased Jamestown’s stake for an undisclosed price. Eastdil Secured represented Jamestown in the transaction. Jamestown originally acquired its interest in The Georgetown Renaissance Portfolio in 2011. The firm had previously sold off a portion of its interest to EastBanc, which used acquisition funds from Acadia Realty Trust, back in 2016. The portfolio is now home to several retail and design brands such as B&B Italia, Poliform, Molteni, Lululemon, Patagonia and Design Within Reach.
NASHVILLE, TENN. — Mill Creek Residential is underway on the construction of Modera Nations, a 396-unit apartment community situated along the Cumberland River in Nashville’s The Nations neighborhood. The podium-style community will over views of the river and the downtown Nashville skyline and will eventually include a trailhead to the city’s Greenways expansion on the north end of the property. Located at 1650 54th Ave. N, Modera Nations will offer studio, one-, two- and three-bedroom apartments, as well as a bowling alley. Other amenities will include a resort-style swimming pool, spa with two saunas and a cold plunge tub, coworking lounge, fitness center, courtyards, community garden, dog park, rooftop deck, EV charging stations, bike lockers and a cold storage delivery station. Mill Creek plans to deliver the community by the end of the year.
VICTORIA, TEXAS — Newmark has arranged the $28.8 million sale of Aria Victoria, an apartment complex located about 85 miles north of Corpus Christi in South Texas. According to Apartments.com, the property was built in 2015 and totals 240 units. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, business center, grilling stations, dog park and an outdoor lounge. Brad Shaffer of Newmark represented the undisclosed seller in the transaction. The buyer was an entity doing business as Aria Victoria Apartments LLC.
FORT COLLINS, COLO. — JRK Property Holdings has completed the disposition of Courtney Park, a garden-style multifamily property in Fort Collins, to ColRich Multifamily for $64.1 million. Terrance Hunt, Shane Ozment, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal. Located at 4470 S. Lemay Ave., Courtney Park offers 248 one- and two-bedroom apartments spread across 13 two- and three-story residential buildings. Each unit features stainless steel appliances, walk-in closets, in-unit washers/dryers and private balconies or patios. Community amenities include a clubhouse building, business center, fitness center, swimming pool, hot tub, an outdoor grilling area, a playground, pet park and 441 parking spaces. Built in 1986, the property was renovated in 2008. Renovations include upgrades to the apartment interiors, clubhouse and common area.
LINCOLN, NEB. — The Annex Group has unveiled plans to build Central at South Haymarket, a 175-unit affordable housing community in Lincoln. The five-story property will consist of one-, two-, three- and four-bedroom units that will be reserved for households whose income level is 50 to 70 percent of the area median income. The nearly $55 million project, which is being built in an area that is currently a parking garage, is slated to open at the end of 2026. Central at South Haymarket will feature amenities such as a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area. Partners on the project include BVH Architecture, REGA Engineering, the City of Lincoln, Impact Housing Indiana Corp. and KeyBank’s debt and equity teams, which provided more than $20 million in total equity, over $22 million in permanent debt financing and more than $40 million in construction financing. Key Bank Capital Markets was the bond underwriter on $26 million in bonds issued by Nebraska Investment Finance Authority. The City of Lincoln issued a 20-year tax-increment financing along with parking rights provided in surrounding city-owned lots and garages to help make the project financially feasible. The project …
FARMINGTON HILLS, MICH. — Bernard Financial Group (BFG) has arranged a $2.8 million loan for the refinancing of Botsford Place Terrace Apartments in the Detroit suburb of Farmington Hills. The multifamily property features 98 units. David Ruff of BFG arranged the loan with Genisys Credit Union on behalf of the borrower, Botsford Place Terrace Apartments LLC.
HOBOKEN, N.J. — Locally based developer LCOR has broken ground on a 386-unit multifamily project in Hoboken. The 27-story building will be known as Charlie and will be located within the $900 million Hoboken Connect mixed-use development. Units will come in studio, one-, two- and three-bedroom floor plans, with 20 percent of the residences to be reserved as affordable housing, although specific income restrictions were not disclosed. Amenities will include a resident lounge with package room, concierge and pet spa, as well as a second floor and rooftop amenity space with a fitness center, entertainment kitchen, coworking spaces, dining areas and an outdoor pool. Consigli Construction Co. is the general contractor for Charlie, a tentative completion date for which was not disclosed. Jon Mikula, Jim Cadranell and Michael Lachs of JLL arranged a $155 million construction loan through insurance accounts managed by KKR for the project. The loan carried a five-year term and a floating interest rate.
PORTLAND, CONN. — Kriss Capital, a New York-based private equity firm and bridge lender, has provided a $33.5 million construction loan for a 130-unit multifamily project in Portland, a southern suburb of Hartford. The four-story building will be part of a larger development known as Brainerd Place and will include 11,000 square feet of commercial space. John Harrington of HKS Real Estate Advisors arranged the loan on behalf of the developers, Bright Ravens Development and DiMarco Group. Completion is slated for spring 2026.
CHARLOTTE, N.C. — Flournoy Development Group has completed Ellison Mallard Creek, a multifamily community in Charlotte’s University City submarket. The property features 341 apartments, 56 for-rent townhomes and flexible retail and office space on the ground level configured in a Main Street-style setting. Monthly rental rates range from $1,400 to $2,950, according to Apartments.com. Amenities at Ellison Mallard Creek include greenspace, a resort-inspired pool and entertainment courtyard, communal and private coworking spaces, fitness and wellness center and specialty spaces such as a hobby/craft studio and a resident club room featuring gaming areas and a grab-and-go market.