PHOENIX ? Hendricks & Partners announced ?the sale of Mercy Court, located at 2945 West Colter Street in Phoenix. The 124-unit property sold for $2,800,000, or $22,581 per unit. The Seller was Mercy Properties Arizona of Denver.The Buyer was Mercy Court Apartments, LLC of Los Angeles.
?MINNEAPOLIS ? The AFL-CIO Building Investment Trust (BIT), Hines, and members of the Minneapolis Building and Construction Trades Council will broke ground on Dock Street Apartments, a new multifamily complex in the North Loop neighborhood of Minneapolis located at 333 North Washington Ave. N. Following a high-density, transit-orientated development philosophy, the six-story complex will be mixed-use and contain both residential units and retail space. The project includes 185 market-priced rental units, 3,000 square feet of retail space and a two-level parking garage with 190 spaces.
AUSTIN? Westwood Cos. purchased 22.7 acres at 509 E. Slaughter Lane in Austin for $2.1 million. A multi-family project is planned for the site by Frisco, Texas-based Westwood. CASE Commercial Real Estate Partners represented the seller, Branch Banking and Trust Co.
JACKSONVILLE, Fla.? Buying the newly constructed property for well below replacement cost, Palatine Capital Partners bought the 180-unit Villas at Dames Point Crossing apartment complex in Jacksonville for $14.02 million. John Stone, Principal & Managing Director of Multi-Family Housing for Colliers International Tampa Bay; Robert Selton, CEO and Principal, and Douglas Blair, Senior Associate, with Colliers International Northeast Florida, represented the seller, DamesPoint, LLC. The buyer was represented by Brad Coe of Horizon Realty Management.
HOUSTON -? Construction has begun on The Sovereign, a 21-story, 290-unit rental project just west of downtown Houston at 3233 West?Dallas, the Houston Chronicle reported. The project is part of the long-delayed mixed-use project called Regent Square by GID Development.? The 24-acre site is just south of Allen Parkway, near a new Whole Foods. Finger Development is developing multi-family nearby.
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Source: http://realtynewsreport.com/2012/09/19/62/
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