Apartment Choice

TH Real Estate, a subsidiary of TIAA, purchased The Atlantic at East Delray, a 228- unit community in Delray Beach, Fla. PS Vinings Owner LLC , a partnership between Pollack Shores and an affiliate of Heitman LLC, sold the property. According to the Daily Business Review , the asset traded for $54.3 million. Executive Managing Directors Avery Klann and Hampton Beebe, Director Jonathan Senn , Transaction Manager Matthew Scarola and Vice Chairmen Dick Donnellan and Marc deBaptiste, all from ARA Newmark, represented the sellers in the transaction. Located at 650 Lavers Circle, the Southeast Florida community is just east of Interstate 95 and close to retail options, the beach and the primary entertainment strip in Delray Beach, Atlantic Avenue. The property’s location provides access to major employment centers in both West Palm Beach and Boca Raton. Featuring luxury one-, two- and three- bedroom apartments , the 1996- built property includes various amenities, such as: A sand vo...

by Adriana Pop, Associate Editor Milhaus Development recently closed a construction loan with PNC Bank to build new residences at the Solana Apartments at the Crossing, a $38 million expansion of the former Renaissance Bay condominiums on the north side of Indianapolis. The first phase of the project includes 312 apartments which will be added to the existing 24 units. Forty-six additional apartments are planned for the second phase, the company said. Located near the Fashion Mall, on a lake next to the White River, the community will include studio and one-, two- and three-bedroom units with granite countertops, upgraded appliances and hard-surface floors in the kitchens and bathrooms. The apartments will range between 536 and 3,058 square feet, with rents from $725 to $2,850. Residents will have access to a pool, fitness room, jogging trail and outdoor kitchen. The Indianapolis-based developer has selected the Gene B. Glick Company to build and manage the apartment community . Lea...

VININGS, GA --(Marketwired - June 17, 2016) - Toronto- based Sutter Hill Acquisition Corporation has acquired The District at Vinings Apartments in Metro Atlanta for $68.75 million. Sutter Hill intends to spend up to $7 million renovating the 464- unit multifamily community , which is located on almost 38 acres in the heart of the Vinings area. The transaction closed June 16 , 2016. The District at Vinings Apartments is located at 2800 Paces Ferry Rd S.E., Atlanta, 30339, less than three miles from SunTrust Park -- the new stadium for Atlanta's Major League Baseball team , the Braves -- and The Battery Atlanta, which is expected to be one of the nation's top sports, shopping and entertainment venues. The apartments are also near Home Depot headquarters , the Cobb Energy Performing Arts Center , the Cobb Galleria and quaint Vinings Village . "This is a dominant asset in a dominant location," said Sutter Hill Acquisition President and CEO Karim Kanji . "It also ...

PHOENIX, AZ - Colliers International in Greater Phoenix negotiated the sale of The Park at Deer Valley apartments at 17425 N. 19th Ave., in Phoenix, for $33 million or $75,688 per unit. Executive Vice Presidents Bill Hahn , Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office represented both the buyer and seller. The seller was Bruckal Properties, Inc., of Kelowna, British Columbia, Canada. The buyer was a private investor, Billah Khan of Phoenix. Financing was arranged through Walker & Dunlop in Phoenix.Khan added The Park at Deer Valley to his portfolio of Phoenix-area assets, which includes Acacia Pointe in Glendale and Marble Creek in Phoenix. Plans call for continuing interior and exterior upgrades started by the seller, who completed more than $3 million in renovations. “This transaction is a prime example of how the combination of off-shore equity and low interest rates create strong financial returns for the buyer,” said Hahn. “Returns will continue to gro...

A 250- unit apartment building in San Clemente has been purchased by a Dallas- based pension fund advisor , Beneke-Krieg, for $27.2 million. The complex, called the Whispering Winds Apartments , was sold by Whispering Winds Apartments Inc. of Chicago, according to Ray Eldridge and Joe Leon of CB Richard Ellis Inc. in Newport Beach, who represented both buyer and seller in the deal. Built in 1986, the property will be upgraded and marketed with other high-priced units in burgeoning South County , the agents said.

New access gates at the property’s two entrances. Upgraded security cameras . Additional outdoor lighting . Landscaping enhancements. Village Park at Woodgate, an apartment complex in the 5400 block of East 21st Street , is in various stages of change because of a string of high-profile crimes over the past few months: two homicides and police officers being confronted with a gun at an apartment where drugs were allegedly being sold. “There were some violent crimes that occurred,” said Capt. Clay Germany, commander of the Patrol North Bureau . Debrylan Bell, 18, was shot to death in the parking lot of the complex on Oct. 5. Four people were arrested in connection with the homicide, though only two have been charged thus far. Robert Young, 29, was shot several times in a building hallway on the night of Dec. 29 and died early the next morning. A week later, two officers investigating the report of a suspicious character at Woodgate knocked on an apartment door and were greeted by a man...