Apartment City

La Mirage: hilltop site a few blocks from Qualcomm Stadium The Irvine Co. has bought an upscale apartment complex in Mission Valley — the company’s largest single-property acquisition of the year. The Newport Beach- based real estate investor and developer recently closed on the purchase of La Mirage, a 1,410- unit apartment complex just off Interstate 15. The 74- acre hilltop site is a few blocks from Qualcomm Stadium. La Mirage was bought from Chicago- based apartment owner Equity Residential . A sale price for the transaction, which was completed late last month, was not disclosed. The tab would come to about $ 350 million based on a per- apartment price of about $250,000 — the going rate for high- end rental properties in the region. That estimate would put the deal among the most expensive seen in San Diego this year. The county’s priciest real estate sale of any type this year is reported to be La Costa Resort and Spa in Carlsbad. Dallas-based Omni Hote...

An apartment development valued at $48 million is coming to West Ashley. Charleston-based Middle Street Partners  said it has broken ground on the 316-unit Atlantic at Grand Oaks complex on Ashley Gardens Boulevard . It's near West Ashley Circle at Bees Ferry Road and Glenn McConnell Parkway . The rental complex will feature 16 two- and three-story buildings and a 7,000-square-foot clubhouse with a fitness center, cafe and community kitchen overlooking a pool. The 26-acre site also will feature large open spaces and several grand trees for which the property is named. Apartments will include kitchen islands with granite countertops, 9-foot ceilings and screened porches. Live Oak Contracting of Jacksonville, Fla., is the general contractor. Construction should be completed in October 2018. Now renting A new 240- unit apartment complex is now open in Goose Creek. The Passage at 100 Underwood Lane, owned by Woodfield Investments and managed by CF Real Estate Services , is ...

CHAMPAIGN - When brothers Jeff, Steve and Mike Hartman went into the real estate development and management business together, they combined more than the initials of their first names. They also merged everything their father taught them about the construction business and all their mother taught them about family loyalty in their three enterprises, JSM Apartments, JSM Development and JSM Management. Under the JSM umbrella, the Hartmans now own and manage 700 apartments and 114,000 square feet of commercial space in Champaign-Urbana, including the new Technology Plaza apartment/retail/office complex in Campustown. And they have more developments on the way. Already started are a new apartment/retail complex on Gregory Street in Urbana, near the Krannert Center for the Performing Arts, and a new retail center on South Neil Street in Champaign, where Hillcrest Lumber used to be. The Hartmans say they work well together in business, running things jointly and never undertakin...

Court of Appeals of Georgia. FOREST COVE APARTMENTS , LLC et al. v. WILSON. No. A15A0799.     Decided: August 21, 2015 Following the grant of their application for interlocutory appeal, Forest Cove Apartments , LLC and American Apartment Management Company (collectively, the “defendants”) appeal the trial court's order denying their motion for summary judgment in this premises liability action brought by Teresa R. Wilson after she fell from an upstairs bathroom while performing independent contractor work for the defendants at an apartment complex. Because the uncontroverted evidence of record shows that Wilson had equal knowledge of the dangerous condition that caused her fall, we must reverse the trial court's denial of summary judgment to the defendants. On appeal from the denial of summary judgment[,] the appellate court is to conduct a de novo review of the evidence to determine whether there exists a genuine issue of material fact, and whether the undisputed facts, v...

A proposed 92- unit apartment complex on Middlesettlements Road will feature four residential buildings plus a community building, gazebo and playground. The Alcoa Municipal/Regional Planning Commission gave site plan approval to Maryville Hall Apartments on Thursday, days before the Alcoa Board of Commissioners votes on whether to annex the 14.781 acres into the city. The commission will vote on the requested annexation, as well as the proposed zoning and plan of services for the property, at a called meeting at 8:15 a.m. Monday in the Commission Chambers of the Alcoa Municipal Building , 223 Associates Blvd. Although the planning commission recommended in April that Alcoa not annex the property at the intersection of Middlesettlements Road and Robert C. Jackson Drive, city commissioners revisited the issue Aug. 8 after voting in July not to provide fire hydrants to the proposed apartment complex because it is outside the city limits, as is city policy. Sinc...

A proposed 92- unit apartment complex on Middlesettlements Road will feature four residential buildings plus a community building, gazebo and playground. The Alcoa Municipal/Regional Planning Commission gave site plan approval to Maryville Hall Apartments on Thursday, days before the Alcoa Board of Commissioners votes on whether to annex the 14.781 acres into the city. The commission will vote on the requested annexation, as well as the proposed zoning and plan of services for the property, at a called meeting at 8:15 a.m. Monday in the Commission Chambers of the Alcoa Municipal Building , 223 Associates Blvd. Although the planning commission recommended in April that Alcoa not annex the property at the intersection of Middlesettlements Road and Robert C. Jackson Drive, city commissioners revisited the issue Aug. 8 after voting in July not to provide fire hydrants to the proposed apartment complex because it is outside the city limits, as is city policy. Since then the Alcoa...

Tacoma, Wash.—Walker & Dunlop has provided $27.4 million in financing for three multifamily properties near Joint Base Lewis McChord in Washington. The assets are comprised of 384 units with military concentrations ranging from approximately 20 to more than 60 percent. Walker & Dunlop Senior Vice President Allan Edelson led the Walker & Dunlop team on the transactions. Financing for Miramonte Apartments, located in Tacoma, Wash., was structured with a 10-year term with three-years interest only followed by a 30- year amortization period under Freddie Mac’s Capital Markets Execution (CME) program. The refinance was underwritten to a 74.67 percent loan-to-value with a 1.37x debt- service coverage ratio . Miramonte is located approximately three miles from the base and offers 120 units, approximately 20 percent of which are military-related and 8 percent of the units receive a form of government assistance. The Fannie Mae refinance for Arbor Pointe Apartments , located ...

When Tigris Holding Company bought land on 34th Street and Milwaukee Avenue about eight years ago, they felt they were on to something good. “They had recently paved Milwaukee , and just studying traffic counts out there, we just felt like it was a good growth area in Lubbock,” said Ty Craft, a directing principal at Tigris. Leasing recently opened for Tigris’s third complex in the area, El Mirador. If their nearby properties - Escondido and Elm Creek - are any indication, the newest multi-family concept is sure to fill soon. Craft said Elm Creek, a single-story facility, is almost always at full capacity and has a lengthy wait list . This is is a trend throughout Lubbock, according to recently collected ALN Apartment Data . In June, apartment occupancy was at almost 91 percent, suggesting nearly every available unit is full. This rate has stayed consistently high through the first half of 2017, according to monthly data from ALN. Suzanne Comer, executive officer with the Lubbock ...

CLOSE Lisa Conley gives the scoop on what we are working on today. Aventine at Naples (Photo: All Commercial Photography ) The sale of Aventine at Naples points to the strength of the East Naples market — and the growing demand for apartments.  The 350- unit apartment community off Collier Boulevard, between Davis Boulevard and Rattlesnake Hammock Road , recently sold for $67 million.  The sellers, Continental Realty Corp ., based in Baltimore, purchased the complex for $44.25 million in 2013, when both employment and multifamily rental rates were on the rise in the Naples area. More: Downtown Naples office tower sells for $16 million More: Newly built Port Royal home fetched record price this year, eclipsing last year's most expensive sale More: Local investors purchase a second building on Fifth Avenue South More: Two commercial buildings sold for $7.2 million on Fifth Avenue in Naples Continental made various upgrades to the complex, which included installing an outdoor k...

First off, I want to say I really like my apartment. I've been here about one month. I'm on a 15 month lease (cheaper than 12). I have a one bedroom apartment. The pricing is affordable. Couple of things to keep in mind if your looking for a one bedroom, and I am talking only about my own experiences. First, the staff upfront are nice. I did have an issue with my a/c unit over a weekend and in the evening, and I called the number and maintenance came right away and fixed the issue without a hitch (thank you!). Packages can be dropped off at front office and picked up. I found very few bugs, and I contacted the office to spray the apartment. Unfortunately, they don't have a plan to routinely pest spray the apartments, and you have to request to be put on the list (of which the service is available weekly). My unit does not have a washer/dryer (nor hookup), and there are decent laundry facilities , but no machines to give you change, and the machines don't take credit ca...

5/12/2017 Overall Experience : A good first apartment for a poor newlywed couple .  But completely unsuitable for a family or someone looking to rent for more than 1 year. Pros: *Cheap rent, the rent here is competitive for the area. *The landscape is well maintained. *The apartments are regularly treated with pest control though we did see quite a few cockroaches. *Two laundry rooms with 3 dryers and 3 washers each. *Plenty of hot water that never seems to run out. Cons: *Once every few days the entire complex will be engulfed in a horrific smell akin to marijuana or burning rubber.  It only happens at night when you're trying to sleep and shut windows won 't keep it out.  The landlord will tell you it's just a skunk but in your heart of hearts you'll know that it can't be just a skunk.  We think it was the car repair shop next door burning old oil.  Either that, or one of the apartments were hot-boxing and opened their windows to air it out.  I eventually devel...