News

Hines Acquires 80 Acres in Virginia, Plans to Build 320 Homes

Washington DC + Apartment Buildings

Hines has acquired an 80-acre land development lot known as Thomas Farm at Bristow Station in Prince William County, Virginia. The fully entitled land will be developed into a residential community with 320 homes. Acquired in partnership with JR Real Estate Group, a D.C.-area real estate investment firm, the community will consist of a mix...

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Trudel Breaks Ground on Galeries Charlesbourg Project

Canada + Apartment Buildings

Trudel has broken ground on its approximately $1-billion redevelopment of the Galeries Charlesbourg shopping centre in Quebec City, Le Journal de Québec reported. The redevelopment effort is the company’s second major project in the Quebec City region. The large-scale, mixed-use initiative is slated for completion by 2033. Located on more than 1 million square feet...

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Capstone, MPZ Break Ground on Baldwinville School Redevelopment

Boston & New England + Apartment Buildings

MPZ Development LLC and Capstone Communities LLC on Tuesday held the official groundbreaking of the Baldwinville School Apartments mixed-income redevelopment project in Templeton, MA. It’s the first multifamily project permitted in Templeton in more than 25 years. Baldwinville School Apartments will transform the historic Baldwinville Elementary School into 54 rental units, with 49 slated to be affordable...

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Berkadia Negotiates Multifamily Property Sale in Kirkland

Seattle & Northwest + Apartment Buildings

Berkadia has completed the sale of Vue Kirkland, a 200-unit garden-style multifamily property in Kirkland, Washington. Managing Directors David Sorensen and Benjamin Johnson, Director George Pallis, Associate Director Peter Dudunakis, along with Senior Managing Director Kenny Dudunakis of Berkadia Seattle, led the transaction on behalf of the seller, California-based Acacia Capital. The buyer was BRIDGE...

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Multifamily Demand Remains Strong Amid Economic Uncertainty

Apartment Buildings

Uncertainty in the economy and financial markets has created minimal impact on multifamily fundamentals, Yardi Matrix reported. The average U.S. multifamily advertised rent rose by $6 in May to $1,761, a 1% year-over-year increase. “Occupancy rates are slipping in some metros due to the heavy supply pipeline, but the drop is slow, as demand remains...

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Sueba Building 346-Unit Missouri City Apartment Community

Texas + Apartment Buildings

Sueba Construction broke ground on a 346-unit apartment project in Missouri City. The venture will be part of Fort Bend Town Center III. Sueba designed the complex and is handling the construction in-house. The Houston Business Journal reports Sueba closed a construction loan with First Horizon Bank in late April. Construction is expected to be...

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CEDARst Starts Work on 191-Unit Miami Rental Community

Florida & Gulf Coast + Apartment Buildings

CEDARst Companies has started work on its first Florida development: a 350,000-square-foot mixed-use apartment project located in Miami’s Little River neighborhood. The project, located at 208 NE 78th Street, will deliver 191 rental units and 8,000 square feet of ground-floor retail. Completion is expected in May 2027. The residential mix includes 52 studio, 84 one-bedroom,...

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Alta Canada Acquires Former Miséricorde Hospital Site for Major Redev Project

Canada + Apartment Buildings

Alta Canada has acquired the historic former Miséricorde hospital site in downtown Montreal and plans to redevelop the property. The company announced the deal on LinkedIn. If all goes according to plan, the major multi-phase project will bring an entire city block back to life. The long-abandoned property was purchased from the Quebec government through...

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