SEATTLE, WA – LMC, a wholly owned subsidiary of Lennar Corporation and a leader in apartment development and management, announced the topping out of Ovation, a luxury two-tower high-rise and mixed-use apartment community located at the gateway to the First Hill neighborhood of Seattle.
The topping out symbolizes a milestone in the construction process for the 32-tale towers, which feature 548 apartment homes and 6,000 square feet of retail and office space. A new 9,000-square-foot outdoor public plaza offers access to Freeway Park and views of the city’s skyline.
The development landmark was recognized during an intimate East Tower celebration in May with representatives from LMC, JTM Construction, Perkins + Will, and equity partner QuadReal.
“This vital milestone at Ovation is meaningful for LMC, our partners and our neighbors who collaborated with us throughout the process and amid the challenges of the past year,” said Dan Shieder, vice president of development for LMC. “We’re excited about the progress, as well as what this cosmopolitan community will contribute to the character of First Hill neighborhood, and the unparalleled living experience it will deliver for future residents.”
Situated between Hubbell Place and 8th Avenue on Spring Street, Ovation carves a distinct silhouette in Seattle skyline and offers majestic views of Mt. Rainier to the south and the city to the west. The community is adjacent to the Central Business District and less than a 10-minute walk to both South Lake Union’s thriving tech sector and the vast entertainment options of Capitol Hill. Ovation, which boasts a Transit Score of 100 and a Walk Score of 97, shares the block with Town Hall, a historical cultural center and performance hall. Access to Interstate 5 and two major bus lines provide prime connectivity to key locales across the metropolitan area.
First Hill is one of Seattle’s original neighborhoods and contains a diverse mix of architecture, ranging from buildings constructed in the early 1900s to modern developments. The neighborhood is often referred to as “Pill Hill” due to its high concentration of healthcare services and medical facilities, including Virginia Mason Medical Center, Harborview Medical Center and Swedish Medical Center are within a 10-minute walk from the community site.
Ovation will consist of studio, one-, and two- bedroom homes, including two-tale penthouse layouts. Offering multiple floor plot and design schemes, along with oversized bedrooms, bathrooms and closets, Ovation has something to meet any taste or preference. It incorporates condo-quality finishes with specific emphasis on making livable spaces for those looking to go-up from entry apartments or downsize from single family homes. Select apartment homes come equipped with smart-home power window shades.
Community amenities will span 17,400 square feet and include a massive state-of-the-art fitness center, co-working spaces, movie room, pet spa and covered pet run and multiple resident lounges for entertaining large and small groups. In addition, two large rooftop amenity spaces will include a pool on the west tower and a Pacific Coast-inspired setting on the east tower conducive for children to explore and play. Both rooftops will feature outdoor fireplaces, grills and seating areas. Residents will also have access to bike stations with storage, wash and repair stations.
Ovation, which is projected to welcome its first residents in early 2022, is the latest community in LMC’s growing Seattle portfolio, joining Axle, Twenty20 Mad and Valdok.

Powered by WPeMatico

DEARFIELD BEACH, FL – Walker & Dunlop announced that it completed the sale of Indigo Station on behalf of Ram Realty Advisors to Cortland. The transaction represents the first time that the property has changed hands since its development in 2019.
Located in the underserved Deerfield Beach submarket in northern Broward County, Florida, the 226-unit luxury apartment community is a rare investment opportunity in a high-barrier-to-entry neighborhood. Adjacent to the Deerfield Beach Tri Rail station, Indigo Station is one of few transit-oriented rental communities in Broward County. The property offers residents convenient access to employment centers, including Park at Broken Sound, Cypress Creek, and Moran Family Enterprises’ headquarters, which employs 3,200 people directly across the street.
The sale was handled by Walker & Dunlop’s Still Hunter, Greg Engler, Kaya Suarez, who represented both the seller and the buyer in the disposition. Mr. Hunter commented, “This unique asset offers ‘attainable luxury,’ which is in high demand, yet most communities within South Florida target just the very top of the market. This property has a much larger pool of potential renters to draw from, ensuring durable rental demand and long-term asset performance for our longstanding client, Cortland.”
“The development of Indigo Station is consistent with our well-established strategy of making institutional quality mixed-use projects throughout the Southeast. We were initially attracted to the location by virtue of its access to both public transit and I-95, as well as proximity to major employment centers. The sale of the asset in no way diminishes our commitment to South Florida and more specifically Broward County, where we recently broke ground on a new mixed-use project in Oakland Park,” Casey Cummings, CEO of Ram Realty Advisors.
Indigo Station is National Green Building Standard (NGBS) certified and features an ideal mix of efficiently laid-out, luxuriously appointed studio, one-, and two- bedroom apartment homes. Community amenities include onsite shopping and dining, a heated resort-style pool, expansive sundeck, grilling and picnic areas, a group fitness center, electric car charging stations, and controlled access. The community boasts convenient access to employment and entertainment as well as a diverse array of retailers.

Powered by WPeMatico

CHESTERFIELD, MO – Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S., has bought a luxury Class A, trophy multifamily asset in Chesterfield, Missouri, from Watermark Residential for $98 million. The firm will rebrand the 345-unit community, previously named Watermark at Chesterfield Village, as The PARQ at Chesterfield.
According to Keanan Gomez, Director of Acquisitions at Passco, the buy is well aligned with the firm s strategy to buy best-in-class apartment communities in suburban markets throughout the country that have demonstrated strong demographic trends.
The PARQ at Chesterfield is the first new multifamily community built in the submarket in more than 30 years, and the property s success during lease-up demonstrates the pent-up demand for luxury rental units in the market, clarifies Gomez, noting that the community reached stabilized occupancy in less than 14 months and performed well during the pandemic. We quickly recognized the opportunity to buy a superb asset in a market that is experiencing significant growth in white-collar employment, including more than 7,000 jobs within a 5-mile radius of the property.
Gomez also points to Chesterfield s high quality-of-life scores, including an overall grade of A+ from Niche, as driving interest from potential residents. The location offers access to exceptional school districts, premier parks, nationally ranked hospitals, and world-class employers, such as Pfizer, RGA, Centene, Bunge, and Bayer.
In addition to strong existing fundamentals, Chesterfield is well positioned for continued growth, confirms Gomez. The city is seeing a trend of major commercial development, including Wildhorse Village, a mixed-use project that will feature approximately 1 million square feet of office and 100,000 square feet of retail, located within a mile of The PARQ. With the flight to the suburbs accelerated this past year, we anticipate strong midwestern cities like Chesterfield will do very well and continue to attract residents looking for additional space and a lower cost of living.
Gomez also clarifies that the exceptional quality of The PARQ at Chesterfield adds to its appeal: Watermark Residential has constructed a phenomenal asset that does not miss a beat, meeting and exceeding today s design and amenity expectations for luxury, Class A communities.
The asset s community amenities include a resort-style swimming pool, 24-hour state-of-the-art fitness center, a Starbucks coffee bar, private open-air courtyards, an outdoor firepit area, custom grilling stations, focus rooms, corporate suites, 24-hour package pick-up, and monthly resident activities. The pet-friendly community also features a dog wash on site.
The PARQ at Chesterfield offers a range of one-, two-, and three-bedroom units that feature nine- or eleven-foot ceilings, full size washers and dryers, garden tubs, a modern gourmet bar kitchen, granite countertops, a private patio or balcony, and a walk-in closet, with wood-look flooring in select units.
We secured this rare opportunity through an brilliant working relationship with Watermark Residential and Andrea Kendrick, Ken Aston, and Bobby Mills of Berkadia, says Gomez. Additionally, we were able to act quickly and strategically, completing a 21-day due diligence process and a smooth and quick transaction for all parties.
The PARQ at Chesterfield is located at 16300 Lydia Hill Drive in Chesterfield, Missouri. Caleb Marten of KeyBank Real Estate Capital s Commercial Mortgage Group arranged acquisition financing on behalf of Passco Companies.

Powered by WPeMatico