Hoar Construction announced the completion of construction on CityHouse Old Town for American Real Estate Partners (AREP).
CityHouse Old Town is a seven-story, office-to-residential conversion project on King Street in Alexandria, Virginia. Hoar served as the general contractor, working closely with AREP to realize the developer’s vision of transforming the property into a vibrant, mixed-use residential community.
1101 King Street’s transformation included converting the 141,000-square-foot office building into CityHouse Old Town, a 236,000-square-foot multifamily community. The project began with consolidating seven separately owned condo interests and working closely with city planning, economic development, and preservation stakeholders. Hoar then reconfigured the building’s core, converting its enclosed atrium into a six-story, open-air courtyard while preserving much of the existing exterior.
Additional project partners included Cooper Carry as the building architect, hospitality design firm RD Jones + Associates as the interior designer and SK&A Consulting Engineers as the engineering firm. Bozzuto Management serves as the property manager.
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
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Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
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The Roxborough Group, LLC has acquired Bidwell Park, a 246-unit apartment community in Fremont, for $109.4 million. The 95% occupied property at 39800 Fremont Blvd. represents Roxborough’s second multifamily acquisition in Northern California within Roxborough Fund III, L.P., a $518-million discretionary fund focused on opportunistic and value-add investments. “The acquisition of Bidwell Park aligns with...
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