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ClearWorth Capital has acquired The Hamptons, a 346- unit apartment complex in the Clear Lake area . Built from 1974 to 1976, the property at  16202 El Camino Real contains a mix of one, two, and three- bedroom floor plans , with an average unit size of 947 square feet . Photo: ClearWorth Capital / This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses." class="landscape" /> Las Brisas apartments in the Clear Lake area . The 202-unit complex, built in 1979, is located at 707 El Dorado Blvd . about a mile northwest of The Hamptons, a 347-unit complex also acquired by ClearWorth Capital. ClearWorth Capital is a partnership comprised of the principals of Dallas- based Seneca Investments , and Houston-based NOIPM ( NOI Property Management ). Photo: ClearWorth Capital / This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses....

TAMPA, FL -   Electra America , one of the fastest- growing multifamily owner -operators in the U.S., has acquired Landmark at Grand Palms, a 438- unit multifamily community in Tampa, Florida. The property was acquired from Starwood Capital for an undisclosed price in a privately negotiated transaction , and will be rebranded as Northgreen at Carrollwood. It will undergo capital improvements totaling approximately $3.5 million.This acquisition brings Electra America ’s Tampa portfolio up to four properties. This is the company’s sixth multifamily property acquisition in Florida so far this year. Nationally, Electra’s portfolio includes more than 22, 500 apartment units totaling over $2.5 billion in value. Berkadia’s South Florida and Philadelphia teams arranged a $39. 8 million acquisition loan through Freddie Mac. A company affiliated with Electra America had owned the property prior to Starwood, which acquired it in 2014 as part of a large portfolio sale...

Praxis Capital has acquired Clarkston, Georgia-based Birch Run Apartments , an 198-unit property for an undisclosed sum. However, Praxis is planning on investing $3 million to renovate and upgrade the property. PRESS RELEASE SANTA ROSA, Calif., Aug. 22, 2017 /PRNewswire/ — San Francisco area based Praxis Capital , Inc. is pleased to announce that it has acquired the 198-unit Class B Birch Run Apartments in Clarkston, Georgia. This is the company’s first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market. The Praxis executive team , possessing more than $6.3 billion of transactional experience in the multifamily sector, including institutional management of more than 90, 000 apartment units , seeks to build a large portfolio of Class B/C workforce housing, consistently unlocking embedded value in multifamily real estate . Praxis also looks to expand its relationships with Family Office and Institutional JV Equity sources ...

PHOENIX, AZ - Colliers International in Greater Phoenix recently completed the sale of the 468-unit, Class C Willow Springs Apartments in Phoenix for $13.25 million or $28,312 per unit ($42.66 per square foot).Resort on 27th LLC of Los Angeles purchased the property, located at 4715 N. 27th Avenue, from MLCFC 2007- 7 North 27th Avenue LLC of Miami Beach, Florida. Bill Hahn, Jeffrey Sherman, and Trevor Koskovich, executive vice presidents with Colliers International ’s HSK Multifamily Southwest Team , represented both buyer and seller. Built in 1986, the apartment community consists of 14 three- story buildings constructed on a rectangular-shaped site, situated on 13 acres. The property is north of Indian School Road , south of Glenrosa Avenue and west of the I-17. Within 310,596 square feet of living space, the unit mix is 252 one bedroom/one bath, 108 two bedroom/one bath and 108 two bedroom/two bath apartments . Unit amenities inclu...

LOS ANGELES, CA - JRK Property Holdings has acquired Clover Creek , a 504- unit apartment community in suburban Chicago in a transaction brokered by HFF.Built in 1986, Clover Creek is located in Lombard, IL, a premier suburban Chicago submarket in the heart of DuPage County, 30 minutes west of downtown Chicago.   Clover Creek also benefits from its proximity to the Illinois Technology and Research Corridor (ITRC), one of the principal economic centers in suburban Chicago and the home to the headquarters of seven Fortune 1,000 companies.   Clover Creek is located 10 miles west of the ITRC along I-88.  Clover Creek offers a variety of one-, two- and three- bedroom floor plans in seven, four-story and two, two-story buildings on a low-density 34-acre site.   Common area amenities include a swimming pool, playground, soccer field, volleyball court, bark park, and clubhouse with Internet café, fitness center and business center.  With approximately 60% of units still in origina...

Multifamily in Greater Memphis has been experiencing a fair amount of activity as of late, with two apartment communities trading in just a few days’ time. One of these communities is the 220-unit Foxwood Apartments —located in the Bill Morris Parkway High - Tech Corridor submarket of the Bluff City. The 1972- built multifamily property was purchased for $2.27 million by Resource Real Estate Opportunity REIT . The 30- building development offers 212 ,000 square feet of leasable area, and community amenities include a fitness center, swimming pool, tennis courts, playground, clubhouse and onsite leasing office . Foxwood Apartments is located conveniently close to I-240 and Nonconnah Parkway , placing the community in proximity to major employmers such as FedEx World, Technicolor, Nike, Lenox Corporate Park and the Nonconnah Technology Corridor . Resource Real Estate Opportunity acquired Foxwood Apartments along with Park Forest Apartments in Oklahoma City, Okla. The company pai...

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...

ATLANTA, GA - CBRE, Inc. announced the sale of the multifamily property AMLI at Milton Park in Alpharetta, Ga.  Renamed Lakeside at Milton Park, the 461-unit mixed-use complex was purchased by Olen Properties. CBRE’s Paul Berry, Ashish Cholia, Malcolm McComb and John Whitlow represented the seller, a venture of AMLI Residential and Northwestern Mutual .Completed in 2004, AMLI at Milton Park was far ahead of its time. The overall Milton Park development utilized its highly landscaped street grid to combine class A apartments, class A office, for-sale residential and a picturesque park with lake into one of Metro Atlanta’s most pleasing mixed-use environments. The apartment buildings themselves reflected classical architecture inspired by Charleston’s “Rainbow Row,” creating the look of dozens of attached urban row homes .  The underlying buildings, however, possessed the layouts and modern operational efficiencies of institutional grade garden apartments . That combination, plus...

NEW YORK, NY -  Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing , and a subsidiary of Centerline Holding Company (OTC: CLNH), announced today it has provided an $11. 4 MM Fannie Mae DUS Choice refinancing for the Woodchase Apartments in St. Louis, Missouri. Woodchase Apartments is a garden style multifamily facility that was built in 1984 and comprises 17 two- and three- story residential buildings , and one single-story office/clubhouse.  The property consists of a total of 186 units, and the unit mix is made up of 92 one-bedroom and 48 two- bedroom apartments , and 18 one-bedroom and 28 two- bedroom townhome units .  The loan is a 10- year fixed rate facility with a 30- year amortization period . The portfolio was refinanced to secure a new low interest rate . Centerline is one of the nation’s leading Mortgage Banking institutions in the multif...

NEW YORK, Aug. 15, 2017 (GLOBE NEWSWIRE) -- Greystone, a real estate lending , investment and advisory company, today announced it has provided a $26.65 million Fannie Mae DUS ® loan in combination with $5.35 million in preferred equity from New York Mortgage Trust , Inc., for the acquisition of Autumn Park, a 358- unit multifamily property in Newark, Delaware. The transaction was originated by Keith Hires of Greystone’s Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization. Autumn Park is a garden- style community comprising 1 -, 2-, and 3-bedroom apartments with a pool, located within easy access to I-95 and downtown amenities. During the underwriting process of the loan for Autumn Park, Greystone overcame a number of unique environmental challenges , including issues with an unprecedented number of underground storage tanks . Greystone wo...

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...

Property is 13th Fund Acquisition CHICAGO and CHARLOTTE, N.C., Feb. 20 /PRNewswire/ -- The Laramar Group, a fully- integrated real estate investment and management company, today announced the acquisition of the Waterford Lakes Apartments , a 694- unit lakeside property in Charlotte, North Carolina, located at 8000 Waterford Lakes Drive . Waterford Lakes is the thirteenth property acquisition for Laramar Group's Multifamily Value Fund, which launched in December 2006. " Waterford Lakes offers residents an ideal living situation : picturesque, resort- style residences located within walking distance of rapid transit, near local employment centers , shopping and major metropolitan areas," said Jeff Elowe, president of Laramar Group. "With its lush surroundings and terrific locale, Waterford Lakes is a great addition to Laramar's portfolio, and an excellent way to round out the first year of the Multi-Famil...

FT. LAUDERDALE, FL - ZOM Florida and The NRP Group recently celebrated the completion and grand opening of Monterra Apartments,  a workforce housing community in Cooper City, south Broward County , Florida. The new 300 unit community began pre -leasing in February 2012 and was 100% leased in April. The units will be 100% occupied in mid July. The property boasts a variety of spacious 1, 2 and 3- bedroom floor plans , featuring nine foot ceilings, and walk in closets. The centerpiece of the Monterra community is a large upscale clubhouse facility , which includes a swimming pool, clubroom with computer work stations , and a 24- hour fitness center . Additional project features include energy efficient appliance and lighting packages, a playground, a covered barbeque area , and a dog park. Project financing included approximately $26 million in NIBP bonds issued by the Florida Housing Finance Corporation , HOME loan funding , and additional loans provided under...

CHICAGO--( BUSINESS WIRE )--Waterton, a U.S. real estate investor and operator, today announced the acquisition of a 404- unit rental community in Arlington, Va., approximately 3 miles southwest of the Pentagon. Built in 1992 and formerly known as Windsor at Shirlington Village, the property at 3000 S. Randolph St. is being rebranded as The Citizen at Shirlington Village following Waterton’s acquisition. Offering a mix of one-, two- and three-bedroom floor plans – 132 units in an eight-story tower and 272 in a low-rise component – the community is located within The Village at Shirlington, a small transit-oriented neighborhood with a host of shopping, dining and entertainment options. “The Citizen offers the walkable, urban-inspired lifestyle many renters seek in an accessible location close to the Pentagon and jobs throughout the D.C. metro,” said Matthew Masinter, senior vice president of acquisitions at Waterton. “Because the property was developed 25 years ago, it also prese...

AMLI sells luxury apartments in Miramar to Boston investment manager for $82M Rents started at just under $2,000 a month for a one-bedroom unit By Katherine Kallergis | July 18, 2017 11:15AM Miramar Park Chicago- based AMLI Residential just sold a luxury apartment community in Miramar for $82 million, or about $273,000 per unit. Property records show PPF AMLI Miramar Boulevard LLC sold Miramar Park to Bel Miramar LLC , a company tied to Boston- based investment manager Eaton Vance Management . AMLI completed the 300- unit rental development at 11000 Miramar Boulevard in 2015. Units range from 840 square feet to nearly 1,500 square feet, according to its website. Amenities include a pool with cabanas, house bar and outdoor grills, a fitness center, yoga studio, clubroom, bark park and pet spa, lily pond, sculpture garden and more. Rents started at just under $2,000 a month as of July for a one-bedroom unit. Apartments feature granite countertops , designer tile or wood floors an...

Monthly rents at Monterra Apartment Homes to range from $1,195 to $1,700 An aerial view of the 250- unit apartment complex that's planned for 15201 Old Hickory Blvd. (Photo: Submitted) Story Highlights Monterra Apartment Homes will cost roughly $55 million to build at 15201 Old Hickory Blvd. "We have plans to do over 1,000 units in Nashville before we're done," Buffalo, N.Y.- based developer Anthony Cutaia said. Amenities will include a dog park and a resort- style community center with a fitness center. The Maddox Foundation, which offers grants in Northwest Mississippi, was the seller of the property. A New York-based entity has paid $2.5 million for 15.27 acres in the Valley Brook neighborhood in south Nashville with plans for a roughly 250- unit apartment project . Buffalo area-based suburban developer Anthony Cutaia is behind plans for the roughly $55 million Monterra Apartment Homes , which will rise at least three stories on the vacant, multifamily zoned ...