News

Northmarq Closes Sale of Mixed-Use in Mission Hills

California & West + Apartment Buildings

Northmarq’s San Diego Multifamily Investment Sales team of Tyler Sinks, Ed Rosen and John Chu brokered the $12.75-million sale of The Charmer, an urban, mixed-use community located in the Mission Hills neighborhood of San Diego. Northmarq represented the seller, Charmer LLC. The buyer was Monro Capital Real Estate Fund. “The sale of The Charmer represents the strong demand for well-located core assets that provide...

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Large-Scale Rezoning for Long Island City Launches Public Review

New York & Tri-State + Apartment Buildings

The Adams administration has launched the public review process for the OneLIC Neighborhood Plan, a proposal to add nearly 14,700 residential units and 3.5 million square feet of commercial space to Long Island City, Queens. The plan’s boundaries stretch from the East River waterfront to Crescent Street and Queens Plaza North to 47th Avenue, with one segment...

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Landmark Delivers First Phase of Conroe BTR Community

Texas + Apartment Buildings

Landmark Properties completed the first phase of construction at The Everstead at Conroe, a 23.5-acre built-to-rent (BTR) community at 7711 Longmire Rd. in the Houston suburb of Conroe. Landmark Properties developed the Everstead at Conroe with partner Open House Group Co., with financing provided by Wintrust. Landmark Construction, the construction arm of Landmark Properties, served...

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Massive Mixed-Use Project Planned for McKinney

Texas + Apartment Buildings

Creation is leading a team that received the green light from the McKinney City Council for a $1.3 billion development called Long Branch. Other partners include Horizon Capital Holdings and Vaulter. The venture includes housing, retail, office space, specialty grocery stores, and hospitality at the northwest corner of US 75 and the future 380 bypass....

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500-Unit Rental Property Under Review in N. Miami Beach

Florida & Gulf Coast + Apartment Buildings

A North Miami Beach planning commission is reviewing plans for a six-building apartment complex that will feature 500 units and 19,000 square feet of commercial space. The S. Florida Business Journal reports Elysee Investments and Scott Solomon filed for the zoning change near Greynolds Park. The companies jointly purchased the vacant property for $11.38 million in 2018....

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Merchants Capital Secures $26M for Affordable Housing Development

Chicago & Midwest + Apartment Buildings

Merchants Capital announced $25.5 million in debt and equity financing for the construction of Prairie Pointe, a 42-unit affordable and supportive housing development in Shakopee, Minnesota. Merchants Capital provided $14.1 million in 9% Low-Income Housing Tax Credit (LIHTC) equity and secured a $11.4 million bridge loan from Merchants Bank for the construction of Prairie Pointe....

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Adoni Divests Avenel Apartments for $14M

New York & Tri-State + Apartment Buildings

Cushman & Wakefield arranged the sale of Boulevard East Apartments, a 39-unit, newly constructed apartment community located at 355 Edgerton Blvd. in Avenel, NJ. The final sale price was $14,300,000. The Cushman & Wakefield Tri-State Private Capital Group of Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri represented the seller, Adoni Property Group, and procured...

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Essex Realty Sells 37-Unit MF Building in Ravenswood

Chicago & Midwest + Apartment Buildings

Chicago-based multifamily brokerage firm Essex Realty Group has announced the sale of 4501-4509 N. Greenview Avenue, a 37-unit courtyard apartment building located in Chicago’s Ravenswood neighborhood. The transaction was completed by Essex Principals Doug Imber and Kate Varde, along with Essex Managing Director Rick Ofman. The vintage courtyard building is comprised of six studios and...

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