News
Downtown Phoenix’s 2nd Tallest Residential Tower Underway
Parallel Capital Partners sold a one-acre parcel within Arizona Center to North American Development Group. The company intends to build there a $100 million, 30-story tower.
On the Market: 5 Interesting Listings for the Week of 4/16
This week’s listings include a new community in West Seattle, duplexes in Denton, Texas, and 188 units in Phoenix’s busy Camelback corridor.
Blue Magma Acquires 3 Atlanta-Area Properties
The company, together with Rosdev Group, secured the 918-unit portfolio for $44.4 million and plans to renovate the communities.
Waypoint Buys NC Apartments
The company acquired the 214-unit Capital Creek at Heritage, located in Raleigh’s submarket Wake Forest, from TWO Capital Partners for $36.4 million.
KWK Architects Designs $105M MN Student Housing Renovation
The company is updating the University of Minnesota’s historic Pioneer Hall, including adding beds, and providing meetings spaces and a technology center.
TMG Arranges Sale of CA Community
United Development Group traded Casa Del Sol Apartments, a 205-unit community in Bakersfield, to a San Fernando Valley-based private investor.
Carroll Organization, PGIM Real Estate Acquire 4-Property Portfolio in FL
The portfolio includes the 292-unit Bella Vista at Boca Del Mar in Boca Raton; 466-unit Centro at Davie; and 466-unit Savannah Lakes and 264-unit Stonybrook Apartments, both in Boynton Beach.
AZ Senior Community Receives $17M Freddie Mac Refi
Built in 2016, the Phoenix-area American Orchards community offers 38 assisted living and 35 memory care units in two separate buildings.
Organized Living Presents Innovative Storage Solutions
The company has introduced a full range of products for senior housing, student housing and multifamily communities, as well as hotels, to allow residents to build their own custom closets.
Middleburg Management Taps New President
Duane Wooldridge brings approximately 15 years of operational experience to the organization and will oversee the firm’s property management portfolio.