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Multifamily

ATRIUM-at-Oviedo-Park
FloridaMultifamilySoutheast

CGI+ Real Estate Sells 275-Unit Park Place Apartment Community in Oviedo, Florida 

by Abby Cox

OVIEDO, FLA. — Woodland Hills, Calif.-based CGI+ Real Estate Investment Strategies has sold Park Place, a 275-unit, garden-style apartment complex situated with the 108-acre master-planned community of Park Town Center in Oviedo. The buyer, RMR Residential, has rebranded the complex to ATRIUM at Oviedo Park. CGI+ Real Estate originally acquired the former Park Place in 2021 for nearly $70 million after a fire destroyed two buildings and two amenity areas. In collaboration with Fogelman, CGI+ Real Estate rebuilt 33 apartment homes and developed 2,642 square feet of community space occupied by Crazy Cork Wine Bar and a Bruster’s ice cream shop. Originally built in 2015, ATRIUM features one-, two- and three-bedroom floorplans ranging in size from 757 square feet to 1,275 square feet, according to Apartments.com. Amenities include a swimming pool, fitness center, basketball/pickleball court, pet washing station and a lounge.

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The-Mark-Knoxville
DevelopmentSoutheastStudent HousingTennessee

Landmark, Manulife Investment Complete 833-Bed Student Housing Development Near University of Tennessee

by Abby Cox

KNOXVILLE, TENN. — A joint venture between Landmark Properties and Manulife Investment Management has completed The Mark Knoxville, an 833-bed student housing development located at 124 S. Concord St. near the University of Tennessee campus in Knoxville. The development team for the project included BKV Group and Landmark Construction. The property offers fully furnished units with bed-to-bath parity, ranging in size from studios to five-bedroom floorplans. Amenities include a rooftop clubhouse and outdoor pool with a jumbotron, 24-hour study lounge, pickleball court and a fitness center, as well as a 25,000-square-foot courtyard with grilling stations, fire pits and hammock groves. The property also features an onsite parking garage and a private shuttle service to campus.

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Bowers-Residences-South-Salt-Lake-UT
LoansMultifamilyUtahWestern

Northmarq Arranges $38M Refinancing for Bowers Residences in South Salt Lake, Utah

by Amy Works

SOUTH SALT LAKE, UTAH — Northmarq has arranged a $38 million loan on behalf of SSLC Multifamily-Parking LLC for the refinancing of Bowers Residences, an apartment community located at 55 W. Utopia Ave. in South Salt Lake. John Bradshaw, Nate Barnson, Bracken Ostler and Adam Bradshaw of Northmarq arranged the permanent fixed-rate financing on behalf of the borrower through a relationship with New York Life. Built in 2023, Bowers Residences offers 236 studio, one-, two- and three-bedroom layouts, a fitness center with a bouldering wall and a yoga/spin studio, a spa, private rooftop lounge and courtyard with games and grills, and a coworking space with a rentable clubroom and kitchen.

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530-Sunnyview-Dr-Pinole-CA
AcquisitionsCaliforniaMultifamilyWestern

Step Up Housing Acquires 148-Unit Bayside Apartments in Pinole, California

by Amy Works

PINOLE, CALIF. — Step Up Housing has purchased Bayside Apartment Homes at 530 Sunnyview Drive in Pinole. Sack Capital Partners and Align Finance Partners arranged structured financing for the acquisition. Additionally, Sack will provide asset and property management for the 148-unit affordable housing community. Originally built in 1974 and renovated in 2017, Bayside features two- and three-bedroom apartments near the shoreline of San Pablo Bay at Point Pinole Regional Shoreline. Institutional Property Advisors, a division of Marcus & Millichap, represented the undisclosed seller in the transaction.

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AcquisitionsIllinoisMidwestMultifamily

Waterton Acquires 263-Unit Apartment Building in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Waterton has acquired The Mason, a 263-unit, 14-story apartment building located at 180 N. Ada St. in Chicago’s Fulton Market district. The purchase price was nearly $90 million, according to CoStar. Units come in studio, one-, two- and three-bedroom layouts. Waterton plans to implement a light value-add program, including in-unit flooring upgrades and enhancements to common areas and amenity spaces. The Mason’s amenities include a rooftop deck, pool deck, fitness center, remote work space, a dog wash and dog run.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges Sale of 48-Unit Whitney Point Apartments in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Marcus & Millichap has arranged the sale of Whitney Point Apartments in Madison for an undisclosed price. The property features 48 multifamily units and three retail suites. Located at 5414 Mineral Point Road on the city’s west side, the asset was built in 2020 as Phase I of a larger redevelopment plan. The site allows for a proposed Phase II that would add approximately 100 residential units and 8,250 square feet of retail space. Matthew Whiteside, Paul Rider and Don Schmidt of Marcus & Millichap represented the seller, Whitney Point Properties LLC, and procured the buyer, Whitney Point LLC.

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LoansMultifamilyNew YorkNortheast

ACRES Capital Provides $30.5M Loan for Refinancing of Queens Apartment Building

by Taylor Williams

NEW YORK CITY — ACRES Capital has provided a $30.5 million bridge loan for the refinancing of The Mill, a 90-unit apartment building located at 1614–1626 Madison St. in the Ridgewood area of Queens. The building rises seven stories and was constructed in 2017. Information on floor plans was not disclosed. According to StreetEasy, The Mill offers amenities such as a business center, package room, resident lounge with a pool and ping pong tables, laundry room and a rooftop terrace. The borrower was locally based investment firm Essex Capital.

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The-Charley-Boston
DevelopmentMassachusettsMultifamilyNortheast

Berkeley Investments Begins Leasing 103-Unit Apartment Building in Boston

by Taylor Williams

BOSTON — Locally based developer Berkeley Investments has begun leasing The Charley, a 103-unit apartment building located in the Allston area of Boston. The six-story building houses studio, one-, two- and three-bedroom units that are furnished with quartz countertops and in-unit washers and dryers. Select residences have patios. Amenities include a rooftop deck with fire pits, grills and lounge seating, as well as dedicated work areas with a coffee bar, a community patio, fitness center and a dog park. Anja Park Design served as the project architect. Rents start at $2,500 per month for a studio apartment.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $7.5M Sale of Bronx Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an 83-unit apartment building in the Westchester Square area of The Bronx. The six-story, elevator-served building at 1776 Castle Hill Ave. was constructed in 1936 and houses 15 studios, 54 one-bedroom units, 13 two-bedroom apartments and one three-bedroom residence. Benjamin Myerow, Seth Glasser and Michael Fusco of Marcus & Millichap represented the seller, a local family, and procured the buyer, a 1031 exchange investor, in the transaction. Both parties requested anonymity.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

National CORE Obtains Funding for Affordable Seniors Housing Development in Gainesville, Florida

by John Nelson

GAINESVILLE, FLA. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also provided a $6.5 million Freddie Mac permanent loan for the project. National CORE also secured additional funding from Red Stone, which provided Low-Income Housing Tax Credit (LIHTC) equity and bonds from the Florida Housing Finance Corp. The property qualifies for tax abatement, which provides tax exemption for nonprofit-owned properties that commit to using it for providing affordable housing for a minimum of 99 years. Hawthorne Heights will serve seniors age 62 and older, with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three apartments for residents earning no more than 22 percent of the area median income (AMI), nine apartments for households earning up to 40 percent of AMI and 74 apartments for households earning 60 percent or below AMI. Completion of Hawthorne Heights is slated for November 2026, and the lease-up period is expected to begin in August 2026. National …

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