Construction Maison

PASADENA, Calif. , Sept. 1, 2015 /PRNewswire-iReach/ -- CALCAP Advisors is announcing that it has purchased two apartment communities in Las Vegas.  The company has acquired 500 units in Southern Nevada in the past 13 months.  Photo - http://photos.prnewswire.com/prnh/20150829/262093 El Pueblo de Los Arboles Apartments, a 228-unit property in Las Vegas , was purchased for $9,765,000 ( $42,829 per unit/ $56.39 per square foot) on June 30, 2015 through the online real estate website Auction .com.  The seller was an entity of mortgage special servicer LNR Partners , LLC.  LNR acquired the property via a CMBS foreclosure on January 29 , 2015.  The address is 5400 West Cheyenne Avenue , Las Vegas, NV 89108. " El Pueblo de Los Arboles offered us an opportunity to purchase a well located multi- family community significantly below replacement cost", stated Edward Aloe , Managing Principal of CALCAP Advisors .   The property, constructed in 1986, was 86% leased at the clo...

The RADCO Cos. completed its seventh acquisition of the year with the closing of the 260-unit Ashford 6860 in Norcross, Ga. RADCO financed the $22 million transaction with private capital and debt furnished by Hamilton State Bank . The company’s proprietary management platform , RADCO Residential, will manage Ashford 6860. Located at 6860 Bebout Drive on roughly 13 acres in Northeast Atlanta, the Class B asset is just a few miles away from interstates 285 and 85. Ashford 2860 is minutes from major retail outlets such as The Forum and Sugarloaf Mills, Gwinnett Place Mall or Sugarloaf Marketplace. Built in 1974, Ashford 6860 consists of 15 two- and three-story buildings. Averaging 874 square feet , the garden- style apartments feature 147 one-, 117 two- and 16 three-bedroom floorplans. According to Yardi Matrix data , amenities include: swimming pool clubhouse fitness center expansive greenspace tennis court playground 450 parking spaces Renovation plans   Formerly known as Tuscana A...

More homes and yet more homes are going in, with new communities popping up . San Pablo The Silverfield Group of Jacksonville has purchased 21.85 acres at the north end of Pablo Point Drive , nestled in between Pablo Point to the south and Queen’s Harbour to the north. With mostly marsh to the east, it’s about the last bit of buildable land in the immediate area. There, they’re going to put Waterside at San Pablo , a single- family community zoned for up to 42 lots, a minimum of 90-100 feet wide. Home prices are expected to be in the $400s to $600s. Leed Silverfield said the project is still in design and engineering, but they hope to break ground early next year. Builders haven’t been chosen. He said it hasn’t been determined if it will be gated. Silverfield paid $1,175,000 for the property, buying it from the Hodges family. Ponte Vedra A new 23-lot, single- home community is going into Ponte Vedra Beach . EvenTide at 1044 Ponte Vedra Blvd . is being developed by GreenPointe Comm...

ABI Multifamily , a multifamily brokerage and advisory services firm , announced the sale of the Montebello Apartments located in north central Phoenix for $1,150,000, which reflects a price of just over $67,600 per unit. Constructed in 1964, the property is located just north of Phoenix’s Historic Districts along Central Avenue.  The low density, single story property consists of 17 block constructed, individually metered apartments with a mix of one, two and three bedroom units.  Common area amenities include a swimming pool, laundry facility and lush open areas with patio space for residences on just over an acre of land.  The Montebello was partially renovated with interior upgrades such as granite countertops, tiled floors, new cabinetry and washer/dryer hookups. The buyer was attracted to the property’s location, which is surrounded by custom homes and within walking distance of a popular dining destination , The Yard, by renowned restauranteur Sam Fox , and a new mixed us...

CHARLESTON, SC - The RADCO Companies , one of the nation’s leading opportunistic real estate developers , completed its sixth acquisition of 2017 with the closing of Woodbridge Apartment Homes in Charleston, South Carolina . This is RADCO’s 72nd acquisition since 2011, its seventh community in South Carolina , and its second community in the Charleston market.The 198-unit, Class B property has been renamed Radius at West Ashley. Radius at West Ashley will be proudly managed by RADCO Residential, the Company’s proprietary management platform . Radius at West Ashley is favorably located in the heart of the West Ashley submarket of Charleston, just minutes away from downtown Charleston, College of Charleston, MUSC, and scenic South Carolina beaches . The community’s location and accessibility to major roads allows for an easy commute to the area’s major office facilities and employers, including Boeing. Additionally, Charleston was also recently ranked the 8th best place in t...

BOCA RATON, FL - Mill Creek Residential , a leading multifamily investor and operator specializing in premier apartment communities across the U.S., announced the acquisition of Emerald Bay Club Apartments , a two-story garden- style community situated in the highly desirable West Boca submarket .Mill Creek will rebrand the community Alister Boca Raton and complete renovations to better meet the expectations of today's luxury apartment residents . The community, featuring 448 apartment homes , will receive interior updates , landscaping improvements and the addition of several resort- style amenities , including a luxury pool and fully equipped fitness center . " Palm Beach County is an extremely attractive location with a strong mix of entertainment destinations, employment opportunities and top-of-the-line schools," said Wes Dickerson, senior managing director of acquisitions for Mill Creek Residential . "We believe our upgrades to Alister Boca Raton wi...

LAFAYETTE, La (KLFY) – A ribbon cutting was held Wednesday afternoon to mark the completion of a major renovation project at Holy Family Apartments . Holy Family Apartments is a low- income housing complex owned and operated by the Diocese of Lafayette. The property has been undergoing renovations for about two years. “We have replaced everything in each apartment down to the interior and exterior stud walls ,” said Ed Boustany, Director of Projects for the Diocese of Lafayette. “This includes all sheetrock, flooring, cabinets, appliances, air conditioning systems , electrical components, and for the first time in the history of this property our residents are better protected with the complete installation of a fire sprinkler system .” The exterior also received some much needed repairs. “All of the units have new roofs, windows, doors, and siding,” said Boustany. Boustany says the renovations cost over $20 million. He says this is the first major renovation since the complex ope...

BOCA RATON, Fla. , June 7, 2016 /PRNewswire/ -- Mill Creek Residential , a leading multifamily investor and operator specializing in premier apartment communities across the U.S., today announced the acquisition of Emerald Bay Club Apartments , a two-story garden- style community situated in the highly desirable West Boca submarket . Mill Creek will rebrand the community Alister Boca Raton and complete renovations to better meet the expectations of today's luxury apartment residents . The community, featuring 448 apartment homes , will receive interior updates , landscaping improvements and the addition of several resort- style amenities , including a luxury pool and fully equipped fitness center . " Palm Beach County is an extremely attractive location with a strong mix of entertainment ...