The 234 Apartment

A pair of west suburban apartment complexes have sold for a combined $59 million to investors that plan to fix them up and hike rents. In the bigger deal, Rockwell Partners said it paid $34 million for 313 units in the Huntington Condominiums in Naperville, a property that was converted to condos before the crash but never sold out. Chicago- based Rockwell aims to “deconvert” the property back to apartments by buying back the 43 condos sold by the previous owner, an affiliate of Inland Real Estate Group , said Rockwell Principal Jason Fishleder . That means negotiating deals with every condo owner, a time-consuming and complicated process. The firm wants “to help these condo owners get out whole if not more than whole if we can,” he said. In the second deal, Sinatra & Company Real Estate , a Buffalo investment firm , has paid $25 million for Timber Creek Apartments in Woodridge. Sinatra plans to spend another $4 million to $8 million renovating the 304-unit property at 3421 Fox...

TORONTO / DALLAS, TX, Oct. 30, 2014 (Canada NewsWire via COMTEX) -- Milestone Apartments Real Estate Investment Trust (MST.UN) ("Milestone" or the "REIT") today announced that it has completed the purchase of Villas at Shadow Creek ("Shadow Creek" or the "Property"), a 560- unit multifamily apartment community located in the Pearland submarket of Houston, Texas, for a purchase price of US$74.0 million. This acquisition was previously announced by the REIT on September 15, 2014. Shadow Creek was built in two phases in 2006 (296 units) and 2007 (264 units) and is currently approximately 95% occupied, with average monthly rents of approximately US$1,200 per unit. The Property's average in-place rents are higher than the REIT's portfolio average in part due to a higher proportion of two and three- bedroom apartment suites . Shadow Creek has the potential for a value- add program relating to unit interior upgrades . The Property features ...

Firm buys apartment complexes in Marina del Rey and Venice for $100 million. financial partner UBS Global Asset Management bought the 475,000-square-foot Riverside Plaza from Westminster Funds for about $85 million." alt="Vestar and financial partner UBS Global Asset Management bought the 475,000-square-foot Riverside Plaza from Westminster Funds for about $85 million." /> Vestar and financial partner UBS Global Asset Management bought the 475,000-square-foot… (Vestar ) Colorado apartment landlord Archstone broadened its Southern California empire this month by spending more than $100 million on seaside properties in Venice and Marina del Rey . Archstone, which operates upscale apartments in coastal markets, bought the Frank, a 70-unit complex on Rose Avenue in Venice, for $56.2 million. It also purchased the Bay Club, which has 205 units -- and 207 boat slips -- on Tahiti Way in Marina del Rey for $43.95 million. The Frank, which was renamed Archstone Venice ...

In the spring of 2015, residents of the Forest Hills Apartment complex complained about their air conditioners not working, mold in their apartments, outdated fire extinguishers , broken electrical outlets and slow response times from the management company . Now after about 18 months of renovations, things are starting to improve, residents say. “They’ve got a new manager, Ms. Eunice, and she is really, really trying to get some stuff done here,” Joyce Mosley, a long time resident of Forest Hills, said. “She has repaired several apartments, taken care of mold issues. They’ve sent in painters and plumbers.” Resident Keith Miller agreed . He said on a scale of 1 to 10, he’d give the new management an eight, primarily for their effort. He said things are not perfect, but he sees some improvement. Forest Hills has had a history of troubles in recent years. The 136- unit apartment complex is on Seventh Avenue and has 96 apartments reserved for residents who receive federal housing su...

Cherry Creek Square shopping complex is set to be redeveloped along with another nearby property . Photos by Burl Rolett." /> The Cherry Creek Square shopping complex is set to be redeveloped along with another nearby property . Photos by Burl Rolett. One of Cherry Creek’s most active developers plunked down $35 million last week for two plots of prime Cherry Creek real estate with plans for fancy apartments and a new hotel. BMC Investments plans to turn two buildings along St. Paul Street and another on Josephine Street into two apartment buildings up to seven or eight floors tall and a cheaper hotel for travelers who don’t want to shell out top dollar. The three projects will total between $150 million and $ 180 million worth of development, company CEO Matt Joblon said. “We are the biggest believers of Cherry Creek long term , and we’re looking to do as much as possible here,” he said. “We want to commit a lot of our resources, money and time in buying and building ...

Austin, Texas, Aug. 22, 2017 (GLOBE NEWSWIRE) -- Campus Advantage® and Pinecrest have broken ground on a 197-unit, 489- bed ten story student housing community near the University of Pittsburgh and Carnegie Mellon University in Pittsburgh, Pennsylvania. Located on Forbes Avenue, The Bridge on Forbes fronts onto the main retail corridor for students attending both universities and is also located steps away from UPMC – Montefiore and Magee Womens Hospital in the thriving Oakland neighborhood of downtown Pittsburgh. The community will feature fully-furnished studio, 1-bedroom, 2-bedroom and 3-bedroom apartments and offer residents a walkable location to the University of Pittsburgh and Carnegie Mellon University campuses . Each fully-furnished residence will include a living room TV , dishwasher, microwave, high-quality range, quartz countertops, refrigerator, in-unit washer and dryer, cable and high-speed internet, all of which will be included in monthly rental rates . Each indivi...

There is nothing simple or minimal about the concept of selling real estate or renting out apartments. It’s one of the most lucrative and competitive businesses in the world today. However, when it comes to selling and marketing such services online, a minimalist design and approach have proven to be a winning combination time and time again. With WordPress offering millions of custom and premium themes, it’s never been easier for independent and big name realtors and brokers to go live with site designs of their own — many of which focus more on the visuals, then filling up the site with clutter and unnecessary information and navigation. To help spread awareness and inspiration on just how important and effective a minimalist site design can actually be, let’s take a look at some of the top realtor and rental property site designs on the internet today. Duchess Apartments When it comes to minimalistic designs , few colors work better than white and black. It’s this combination ...

Cherry Creek Apartments, at 1100 Crystal Spring Lane off Central Pike in Hermitage, is BC Property Investments’ latest Nashville purchase. (Photo: Submitted) Story Highlights 627- unit community the third local acquisition for BC Property Investments LLC in just over two years A Miami- based real estate investment firm has bought the 627- unit Cherry Creek Apartments in Hermitage for $86.5 million. The deal is BC Property Investments LLC 's latest Nashville - area apartment acquisition in the past year and a half. Locally, the company owns the 624-unit Lakes of Bellevue apartments in Bellevue and the Viera Cool Springs apartments in Franklin. BC Property acquired Cherry Creek Apartments , which is at 1100 Crystal Spring Lane off Central Pike, from the Norfolk, Va.- based private real estate investment and management firm Harbor Group International . Amenities include three resort-style pools, tennis courts, a car care center , a pet park, fitness center, sand volleyball ...

LOS ANGELES--( BUSINESS WIRE )-- Lowe Enterprises Investors (LEI), in joint venture with an institutional investor, has acquired The Reserve Glenview , a 239-unit transit-oriented apartment community which opened in 2015, located in the premier North Shore submarket of suburban Chicago. Set on 7.59 acres at the intersection of Waukegan and Golf Roads, it is immediately adjacent to the Golf Transit Metra Station and a new retail center providing grocery, restaurants, shops and services. “The Reserve Glenview is a well-designed, new community with a prominent location in North Shore, one of the best performing rental markets in suburban Chicago,” said Andy Sands, managing director, LEI. “It provides easy access to the area’s major employers and is steps away from public transit for commuting to downtown Chicago.” Located at 195 Waukegan Road, the community is designed with three-story buildings wrapping around a center parking structure . The community is an attractive option for p...

A pair of North Charleston apartment complexes recently changed hands . Miami-based real estate investment firm Monument Capital Management , an A-Rod Corp. company, recently acquired the 222-unit Plantation Flats apartments at 2181 Dunlap St. behind the former HHGregg store off Rivers Avenue. The purchase price for the 15-acre complex was $21.6 million, according to Charleston County property records . The previous four owners — Alba Florida Rentals SPE, Alba Florida Investments SPE , JPM Naples SPE and Summit Place SPE  — paid $14 million for the apartments in 2015, records show. They also announced plans to invest $2 million in the property. +1  Alston Arms Apartments (copy)" class="img-responsive lazyload full" width="1848" height="1121" /> Alston Arms Apartments in North Charleston recently sold for $12.1 million to a New Jersey company. Leroy Burnell/Staff Meanwhile, the 160-unit Alston Arms Apartments at 2410 Alston Ave . off ...

AT least two projects nestled in a mature residential precinct in District 9 near Somerset are being run as serviced apartments - despite not having the regulatory approval to do so - and a third one is opening. Oxley Thanksgiving Residence , a freehold condominium at 328 River Valley Road owned by Chinese temple Poh Ern Shih , and St Thomas Lodge , which also sits on freehold land at 32 St Thomas Walk , are listed for short-term stay on the website of accommodation service provider Atas Residence . The Business Times' visit to these projects confirmed that they are being run as serviced apartments. A third property, Devonshire Apartments at 17 Devonshire Road , has just undergone a major renovation, and the units there are understood to be starting a new chapter as serviced apartments this month. BT's query to the Urban Redevelopment Authority (URA) confirmed that these three properties are currently approved for residential use, but "do not have planning permission to...

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