MAHOMET, ILL. — Eastern Mortgage Capital has provided a $24.1 million HUD 223(f) loan for Solace at Mahomet, a 194-unit multifamily property in the central Illinois city of Mahomet. Peter Panagako of Eastern Mortgage Capital originated the loan. Eastern Mortgage Capital is a Massachusetts-based HUD-insured lender.
FARMERS BRANCH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Sola Galleria, a 330-unit apartment community in the northern Dallas metro of Farmers Branch. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, computer lounge, coffee bar, clubhouse kitchen, zen lounge, outdoor grilling and dining stations and a gaming/media room. Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware and Jack Windham of IPA represented the seller, a partnership between HLC Equity and The Hampshire Cos., in the transaction. Cameron Chalfant, Brian Eisendrath, Harry Krieger and Scott Arenzon, also with IPA, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, San Diego-based MG Properties.
MIDLAND, TEXAS — A joint venture between Silverstone Partners and JSB Capital Group has purchased a portfolio of four build-to-rent properties totaling 277 homes in the West Texas city of Midland. The specific names and addresses of the properties, which are collectively known as The Seed Portfolio, were not disclosed. The portfolio features an average home size of 1,300 square feet. The seller was Related Cos. Silverstone affiliate Claireville Residential will manage the properties.
NEW YORK CITY —Wells Fargo has provided $224.3 million in bridge financing for The Italic, a 50-story apartment tower in the Long Island City area of Queens. Designed by SLCE Architects and built by Hunter Roberts Construction Group, the building houses 363 units in studio, one-, two- and three-bedroom units, with 109 residences designated as affordable housing. Amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and a rooftop terrace. The building also houses commercial space. Construction on The Italic topped out in late 2023, and leasing launched in spring 2025. Christopher Peck, Nicco Lupo, Michael Shmuely and Alex Staikos of JLL arranged the financing on behalf of the owner, a joint venture between Fetner Properties, Lions Group and The Carlyle Group. JLL also arranged the original construction loan for the project in spring 2023.
ARDMORE, PA. — Eastdil Secured has arranged $140.7 million in construction financing for a 270-unit multifamily project in Ardmore, a northwestern suburb of Philadelphia. The development is known as The Plaza at Ardmore, and the financing consists of a $112.6 million senior loan from Bank OZK and a $28.1 million mezzanine loan from Affinius Capital. Units will come in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, outdoor grilling and dining stations, a fitness center and dedicated coworking and private study spaces, as well as 30,000 square feet of ground-floor retail space. Nick Seidenberg of Eastdil Secured arranged the financing on behalf of the borrower, an affiliate of Piazza Auto Group, which has partnered with Radnor Property Group for the overseeing of development and construction of the project. A tentative completion date was not announced.
OXNARD, CALIF. — Bascom Northwest Ventures, through an affiliate venture, has completed the sale of Tempo at Riverpark Apartments in Oxnard, to a venture led by Hines for $105 million. Blake Rogers, Alex Caniglia and Kip Malo of JLL handled the transaction. Apartment Management Consultants managed the community for Bascom Northwest over the holding period. Located less than one mile from the Pacific Ocean, Tempo at Riverpark features 235 apartments with in-unit laundry, stainless steel appliances, custom sliding barn doors, large bedrooms, spacious open floor plans and balconies or patios. Community amenities include an outdoor pool and spa, poolside cabanas, an outdoor barbecue area and fireplace, a 24/7 fitness center, yoga/spinning room and attached garages. Bascom Value Added Apartment Investors Fund IV, an affiliate of The Bascom Group, and a private investment group led by Bascom Northwest purchased the property for $75.2 million in 2028. Brian Wirtz of Bascom Northwest assisted throughout the investment execution process.
NORTH LAS VEGAS, NEV. — Walker & Dunlop has arranged a $75 million loan for the refinancing of North Park Living, a two-story, walk-up apartment property in North Las Vegas. Justin Nelson, Eric Norris, PJ Feichtmeier and Jared Diedrich of W&D Capital Markets refinanced the loan on behalf of SRB Living LLC. The team secured the floating-rate, interest-only permanent debt loan from Benefit Street Partners. Located at 4100 Scott Robinson Blvd., North Park Living offers 380 one-, two- and three-bedroom floor plans with direct access entrances. Situated just north of the Las Vegas strip, the property provides direct access to I-15, local and national retailers and major employment centers.
TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.
RALEIGH, N.C. — Tishman Speyer has acquired The Maggie, a 244-unit apartment community located at 401 Oberlin Road in Raleigh’s Village district. The property is situated on 2.8 acres adjacent to North Carolina State University. William Yowell, Kevin Kempf, Don Hoffman and Tai Cohen of CBRE brokered the transaction. The seller and sales price were not disclosed. Built in 2014, The Maggie features a unit mix ranging from studios to three bedrooms, as well as 9,000 square feet of street-level retail space. Amenities include a fitness center, outdoor saltwater pool, business center, lounge, golf simulator and a game room.
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Real Estate Industry Displays ‘Uneven Performance’ Heading Into 2026, Says Valuation Firm IRR
DENVER — The U.S. commercial real estate industry is currently experiencing a mixed bag of demand generators and property-level performance, according to Integra Realty Resources (IRR), a commercial real estate valuation services firm based in Denver. IRR’s conclusions are expanded in Viewpoint 2026, the 33rd edition of the firm’s commercial real estate trends report. “As we enter 2026, we see that the economic environment is becoming more stable, but growth is slower and visibility remains limited,” says Nick Luettke, economist at Moody’s Analytics. “Inflation has eased from recent peaks and interest rates have started to trend lower, however, borrowing costs remain elevated relative to prior cycles. With labor markets softening and policy uncertainty still at play, economic conditions are supportive in some areas but restrictive in others, contributing to uneven performance across the U.S. commercial real estate market.” IRR partnered with Luettke for the macro-economic trends within the report and sought contributions from nearly 600 valuation advisors in the United States and Caribbean. The report delivers sector-specific insights along with three specialty property reports on healthcare and seniors housing, quick-service restaurants and self-storage. Some key findings and forecasts from the main report include: the sustained poor fundamentals within the highly fragmented …