NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.6 million sale of two apartment buildings in the Park Slope area of Brooklyn. The four-story buildings at 334-336 Ninth St. house seven market-rate apartments, one office space and one retail space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.
NASHVILLE, TENN. — AJ Capital Partners has obtained a $475 million construction loan for Belle Meade Village, a 15.5-acre retail and residential village underway in Nashville. Located on the border of Belle Meade, Tenn., the project is a redevelopment of an under-utilized shopping center. Raymond James Real Estate Investment Banking arranged the financing through Barings on behalf of AJ Capital. Belle Meade Village will feature 1 Iris Lane, The Residences at Belle Meade Village, which are a pair of two 46-unit condominium buildings. The condos have a starting price of $3 million and come in one- to four-bedroom layouts. Residents have access to 16,000 square feet of amenity space, including high-end fitness and wellness features and private wine and cigar rooms, among other attractions. The project also includes a five-acre private park and a central courtyard space with an antique carousel surrounded by a seven-building retail village that will feature local and global brands, a private members’ club and a boutique hotel. AJ Capital broke ground on Belle Meade Village last October, with plans to wrap up construction by 2028. The design-build team includes Meyer Davis (interior design for 1 Iris Lane), Brasfield & Gorrie (general contractor), Barge Civil Associates …
CANTON, GA. — The Milestone Group has purchased Legends at Laurel Canyon, a 266-unit, garden-style apartment community located at 100 Legends Drive in Canton, about 43 miles north of Atlanta. The seller and sales price were not disclosed. Built in 2020, Legends at Laurel Canyon offers one-, two- and three-bedroom units averaging 1,227 square feet in size. Amenities include a clubhouse, fitness center, resort-style saltwater pool, gated access, Amazon Hub Lockers, car care center, bike racks and a pet park and spa.
DENVER — Urban Land Conservancy (ULC), a Denver-based affordable housing nonprofit, has completed construction and opened The Irving at Mile High Vista in Denver’s West Colfax neighborhood. Located at 3.270 W. Colfax Ave., the 102-unit community serves households earning up to 20 to 80 percent of area median income. With ULC’s ownership of the land through a community land trust, affordability is guaranteed for 99 years. The Irving is adjacent to the Denver Public Library’s Corky Gonzales branch. The architect was Studio Completiva, and the general contractor was Pinkard Construction. The project is ULC’s first ground-up development. The land stewardship group acquired the property in 2010.
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.