BROOKHAVEN, GA. — Woodfield Development plans to develop a new 320-unit apartment community located at 4170 Ashford Dunwoody Road NE in Brookhaven, a northeastern suburb of Atlanta in DeKalb County. The property will sit on five acres within Ashford Green, a mixed-use redevelopment by Vela Cos. that will features residences, offices, a hotel and restaurants. The site was recently rezoned from office to multifamily, and Woodfield plans to close on its land acquisition in second-quarter 2027. The unnamed apartment community will feature a mix of studio, one-, two- and three-bedroom floor plans, as well as a resort-style pool, clubhouse and coworking areas. The design-build team will include Dwell Design Studio (architect), PEC (civil engineer) and Spacecraft (landscape architect). The construction timeline was not released.
TORRANCE, CALIF. — CBRE has arranged the $21 million sale of Tournament Patio Apartments in the Southern California city of Torrance. JS Bower Foundation sold the property to Good Capital Group. Situated on 1.7 acres at 4111 W. 239th St., Tournament Patio Apartments features 60 apartments with an average units size of 1,023 square feet. The two-story, garden-style property was built in 1963. Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy of CBRE represented the seller in the deal.
HACKENSACK, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $9.7 million sale of Royal Court, a 59-unit apartment building located at 5 Pangborn Place in Hackensack. According to Apartments.com, the building offers studio and one-bedroom units. Andrew Scheinerman of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NORWALK, CONN. — A joint venture between Saber-Hightower LLC and Granoff Real Estate has announced plans for the repositioning of two vacant office buildings in Norwalk, a coastal town near the Long Island Sound. Development costs of the conversion are estimated at $120 million. The properties — 101 and 102 Merritt 7 — will be converted into apartment buildings totaling 286 loft-style units. Situated within the Merritt 7 office park, the eight-story buildings together comprise 511,000 square feet and were the first of the six buildings constructed at Merritt 7 in the early 1980s. Amenities at the redeveloped properties, dubbed M7 Lofts, will include more than 1,300 parking spaces and a landscaped top-level deck with a lawn, swimming pool, dog runs, a putting green and a bocce ball court. M7 Lofts will offer a mix of 42 studios, 167 one-bedroom units and 77 two-bedroom apartments averaging 983 square feet in size. Twenty-six units will be designated as affordable under the city’s inclusionary requirements. “While some developers may have looked at these buildings as a teardown-and-rebuild opportunity, we saw the value in reusing what was there,” says Greg Belew, co-founder of Saber-Hightower, which is based in Briarcliff Manor, N.Y. “With 11-foot …
— By Jordan Carter and Clay Newton of Kidder Mathews — Portland’s multifamily market is showing signs of stabilization after working through one of the largest apartment construction cycles in its history, compounded by one of the most dramatic swings in lending rates in recent memory. This combination compressed investment activity, weighed on asset values and drove sales volume to decade lows. Demand remains healthy, with apartment absorption over the past 12 months totaling about 3,500 units, in line with long-term historical averages and nearly double the trough of 2023. Vacancy currently sits at 7.1 percent, down from its 2024 peak and below the national average of 8.3 percent. The most consequential shift is the rapid decline in new supply. As of mid-2026, about 2,400 units remain under construction, totaling roughly 1 percent of inventory growth. Deliveries in 2025 were half of 2024 levels, and 2026 is projected to be half of 2025. This is creating the lightest new supply environment in more than a decade as higher interest rates, rising construction costs and tighter lending standards have constrained development. Rent growth remains under pressure but should bottom out near-term as the supply demand balance continues to tighten. Asking rents …
ROCKLIN, CALIF. — Merchants Capital has provided roughly $193 million in financing for The Frances and The Steven, a pair of affordable housing developments in Rocklin, about 20 miles north of Sacramento. Developed by USA Properties Fund, the communities will provide 504 new affordable apartments for seniors and families across a range of income levels. Financing for The Frances includes a $72.1 million private placement bond loan through AllianceBernstein and $76.1 million in construction period debt to bridge incoming tax credit equity and permanent bond financing provided by Merchants Bank. Financing for The Steven includes a $30.6 million private placement tax-exempt bond loan through AllianceBernstein and $15 million in construction period debt provided by Merchants Bank. The Frances will feature 324 one-, two- and three-bedroom apartments designated to residents earning 30 to 70 percent of the area median income (AMI) with fully equipped kitchens, central air conditioning and walk-in closets. Community amenities will include a pool, playground, fitness center, courtyard/picnic area, community room, dog park, computer room, service coordinator and an onsite manager. The Steven will add 180 one- and two-bedroom apartments for seniors aged 55 and up that earn between 30 and 70 percent of AMI. Nonprofit organization LifeSTEPS will …
TEMPE, ARIZ. — LV Collective, in partnership with Kayne Anderson Real Estate, has completed Rambler Tempe, a purpose-built student housing property located at 1020 E. Apache Blvd. in Tempe, home of Arizona State University. Project partners included Shepley Bulfinch as architect, Layton as general contractor and Variant Collaborative as interior designer. Pacific Life provided debt financing for the project. The 14-story, 552,380-square-foot Rambler Tempe features 289 units totaling 829 beds in a mix of studio, one-, two-, three- and four-bedroom floor plans. Move-ins started in late July.
LEXINGTON, KY. — Subtext has acquired a site located at 565 S. Limestone in Lexington for the development of EVER Lexington, a 520-bed student housing community serving students attending the University of Kentucky. The project is located within a qualified opportunity zone and is being developed in partnership with FrontRange Capital and Larson Capital Management. Construction is set to begin imminently, with completion scheduled for summer 2028. The community will offer 149 units in one- through four-bedroom configurations. Shared amenities will include a two-story lobby, study mezzanine, fitness center, wellness suite, pool deck, fitness studio, cold room, sauna and an outdoor bar and lounge. The development team for the project includes Southern Building Group, KTGY, ESG, EA Partners, Schultz Burman Engineering and UMB.
NEW YORK CITY — Locally based developer Slate Property Group has received an $86.2 million loan for the refinancing of Dutch House, a 186-unit apartment complex located in the Long Island City area of Queens. Designed by Aufgang Architects and completed in 2022, Dutch House features studio, one- and two-bedroom units and 21,000 square feet of ground-floor retail space. Roughly 30 percent (56) of the apartments are earmarked as affordable housing. Amenities include a lobby with concierge service, fitness center, recreation room with a pool table and a rooftop terrace. Aaron Appel, Jonathan Schwartz, Dustin Stolly, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the loan through Ares Capital Management on behalf of Slate, which owns the property in partnership with Avenue Realty Capital. The loan retires 2023 debt issued by Los Angeles-based PCCP.
FAIRWAY, KAN. — A partnership between EPC Real Estate Group and Platform Ventures has received a $66.9 million loan for the refinancing for The Fieldston, an active adult community located in Fairway, approximately 10 miles southwest of Kansas City. Completed in 2025, the property is situated on 4.6 acres and totals 209 units. Amenities at the community include a swimming pool, sun deck, pub, golf simulator, spa, coworking spaces, outdoor kitchen, outdoor lounge, putting green, exercise studio, yoga studio, pet parlor and community garden. Mark Erland, Kevin Baron and Ellie Savage of JLL arranged the financing on behalf of the borrower. The direct lender was not disclosed.