The Alamo Heights City Council has agreed to Embrey’s plan to tear down the 105-unit Treehouse Apartments and replace them with a five-story project called Grove Place. The project, which will have nearly 300 units, will also include a fitness center, clubhouse and other resort-style amenities. The San Antonio Business Journal reports that Ridgemont Properties owns the land and will lease it to Embrey. The property is near Broadway and Arcadia Place.
Construction is expected to start in the first quarter of 2027. Lake Flato is the design architect. The council vote allows the project to exceed Alamo Heights’ typical 35-foot or three-story limit for apartment complexes.
Embrey is a San Antonio company that’s been around 52 years. It has 6,000 units under construction and 23,000 under management.
29th Street Capital sold the Peakline at Copperleaf apartments for $72.5 million, a significant dip from the price the company paid for the property four years ago. The company paid $104 million from the development iin 2022. Multifamily News reports that the Michelson Organization acquired the property with the help of a $30.6 million five-year...
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CBRE arranged the sale of Boulder Creek, a 204-unit multifamily community in Sammamish, Washington. Eli Hanacek, Kyle Yamamoto and Natalie Kasper with CBRE’s Pacific Northwest Multifamily team represented the seller, Nuveen, in the transaction. The buyer was not disclosed. “Multifamily communities of this quality rarely come available in Sammamish, particularly assets that combine large floor...
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JLL has arranged $112 million in acquisition financing from a regional bank for the purchase of a two-property portfolio of independent living, assisted living and memory care communities totaling 330 units in the Chicago area. JLL placed the financing on behalf of an affiliate of The Inland Real Estate Group, LLC. The JLL Seniors Housing...
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