St. John Properties, Somerset Companies Break Ground on $148M Maryland MF Project
St. John Properties, Inc. and Somerset Companies have begun construction on Aspen at Greenleigh, a $148 million, 335-unit luxury multifamily community located within the 1,000-acre mixed-use Greenleigh community in northern Baltimore County.
A joint venture between the two real estate companies, the Middle River project features oversized studio, one-, two-, and three-bedroom living spaces ranging from 599 to 1,669 square feet. Aspen at Greenleigh represents the fifth multifamily project for the partnership and was designed by Architects Collaborative, with Aumen Asner overseeing the interior design. St. John Properties’ in-house Multifamily Construction division, led by Michael Poirot, is serving as the general contractor.
The professional team also includes project architect KTGY, structural engineer Kline Engineering, mechanical, electrical and plumbing engineer Phillips Gradick, civil engineer Stahly Engineering & Associates and property manager Bozzuto Management. Upon full build-out, Greenleigh will contain approximately 3,300 residential units.
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Development Site Trades within Atlantic Avenue Mixed-Use Plan
Ariel Property Advisors closed the $21-million sale of a development site at 566 Grand Ave. and 836 Dean St. in Prospect Heights, Brooklyn. The corner development site comprises approximately 86,065 buildable square feet and traded for approximately $244 per buildable square foot. The transaction was arranged by Ariel partner Sean R. Kelly along with associate...
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Fourth Sale Closes in Anaheim Multifamily Portfolio
Marcus & Millichap arranged the sale of Knott-Orange Apartments, a 35-unit multifamily property located at 515 S. Knott Ave. in Anaheim. The property sold for $9.65 million, or $275,714 per unit. “This transaction marked the fourth closing from a larger Anaheim-area multifamily portfolio as the seller continues to reposition its holdings through a 1031 exchange...
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JLL Arranges $135M Financing for Luxury Multifamily in Yonkers
JLL Capital Markets arranged $135 million in construction financing and joint venture equity for the development of The Ibex at Ridge Hill, a 282-unit luxury multifamily community at the Ridge Hill mixed-use lifestyle center in Yonkers. Senior managing directors Evan Pariser and Aaron Niedermayer and director John Lowe arranged the senior construction loan with Bank...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout