Empire Group Starts Work on $288M Tempe Apartment Community
One of the Empire group of companies broke ground Monday on Revelry, a two-tower, $288 million luxury project in Tempe. Aspirant Development, the luxury infill division of Empire Group, is building a 15-story tower and a 17-story tower on the site.
Mavik provided $299 million in financing for the 533-unit Class A high-rise community. Malcolm Davies, Kyle McDonough and Alex Rossinsky of WAY Capital arranged the financing.
Gensler is the designer, Layton is the general contractor for the project.
The two towers will be connected by a 27,000-square-foot pool deck on the second floor and will include a clubhouse with a spa and fitness center, as well as a two-lane bowling alley. Other lifestyle amenities include pickleball courts, wellness spaces, sauna, cold plunge, aromatherapy rooms, yoga terrace, lounges with a bar and fireplace, a golf simulator, a bowling alley, arcade and dog spa, co-working spaces and coffee bar and approximately 5,500 square feet of retail space on the first floor across two suites, with an additional 10,800 square feet on the second floor.
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North Hollywood Apartments Trade to Locally Based LLC
Marcus & Millichap has finalized the sale of 13103 Barbara Ann St., a 41-unit multifamily property in North Hollywood. The property sold for nearly $5.89 million, or $143,610 per unit, and closed escrow at a 5.7% cap rate based on in-place income. “The property had been under the same ownership for more than 30 years,...
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Charney Companies, Tavros Break Ground on Fifth Gowanus Development
Charney Companies and Tavros recently celebrated the groundbreaking of 175 Third St. in Gowanus, Brooklyn. The 27-story mixed-use tower, the newest addition to the Gowanus Wharf development, will house more than 1,000 apartments, approximately 250 of them affordable. Designed by Bjarke Ingels Group (BIG) and dencityworks, the project will also include a 28,000-square-foot public waterfront...
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JLL Arranges $276M Refi for Newport Beach Seniors Communities
JLL Capital Markets arranged $276 million in refinancing for Vivante Newport Center and Vivante Newport Mesa, a two-property seniors housing portfolio in Newport Beach. Senior managing director Greg Brown, assisted by senior managing director Aaron Rosenzweig worked on behalf of the borrower, an affiliate of Nexus Development, to secure two uncrossed loans for the portfolio....
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
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