KCG Snags Financing for 260-Unit Mesquite Senior Housing Community
KCG is moving forward on a $78.45 million senior housing community in Mesquite. Walker & Dunlop has closed approximately $30 million in Low-Income Housing Tax Credit (LIHTC) equity as part of Avanti Hills, a 260-unit affordable senior housing community under development in Mesquite, Texas. Avanti Hills is being developed by KCG Development as a joint venture partnership with The Javelin Group and Mesquite Housing Finance Corporation.
The 4% LIHTC development is supported by tax-exempt bond financing through Mesquite Housing Finance Corporation, with Walker & Dunlop Affordable Housing Equity as the equity partner and Citi Community Capital and Bank of America as the debt partner.
The new construction community will feature apartment homes for adults age 55 and older, including 135 one-bedroom and 125 two-bedroom residences, with all units restricted to households earning up to 60% of Area Median Income (AMI). Amenities include a clubhouse, fitness center, outdoor gathering areas, accessible features, and resident-focused wellness and community programming.
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Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
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CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
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Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton Aand senior investment anaylst...
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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