Multifamily

PLANO, TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 65-unit seniors housing facility in Plano. The unnamed property was built in the 1990s and offers assisted living and memory care services. The seller was a national development and investment firm, and the buyer was a regional seniors housing owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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SUMNER, WASH. — Marcus & Millichap has brokered the sale of 1314 Maple, a multifamily property in Sumner. A limited liability company sold the asset to an undisclosed buyer for $3.6 million, or $495 per square foot. Located at 1314 Maple St., the building features 16 studio and urban one-bedroom units, averaging 458 square feet. The sellers completed a more than $1 million interior and exterior renovation to the property. Kellan Moll, Mitchell Loofburrow and Scott Morasch of Marcus & Millichap’s Seattle office represented the seller in the deal.

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CLERMONT, FLA. — Kolter Multifamily LLC, an affiliate of Delray Beach, Fla.-based The Kolter Group, has begun leasing Alton Serenoa, a 300-unit apartment community in Clermont. The property sits about 26 miles west of Orlando and serves as a multifamily component of Serenoa, a master-planned community. Alton Serenoa will feature a mix of one-, two- and three-bedroom floor plans, as well as a one-story clubhouse and a resort-style swimming pool. Monthly rental rates range from $1,535 to $2,305, according to the property website.

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NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $140 million construction loan for a 354-unit multifamily project that will be located at 2366 Bedford Ave. in Brooklyn’s Flatbush neighborhood. Designed by S. Wieder Architect PC, the seven-story building will feature ground-floor retail space, onsite parking and amenities such as a café/business lounge, wet and dry saunas, golf simulator and a cycling studio. Leah Paskus of Landstone Capital Group arranged the loan on behalf of the borrower and developer, Clipper Equity. Completion is slated for the third quarter of 2025.

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SYRACUSE, N.Y. — Syracuse University will develop two new residence halls. The first community will be developed at 700 Ostrom Ave. and will offer 450 beds upon completion. An undisclosed architect has been selected for the project, with construction expected to begin this year. The university concurrently announced plans to demolish Marion Hall, Kimmel Hall and an existing dining center on the corner of Comstock and Waverly avenues to make way for a new residence hall. A timeline for the development was not disclosed.

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CHICAGO — Ziegler has negotiated the sale of a 100-plus-bed skilled nursing facility in a northern neighborhood of Chicago. Ziegler advised the seller, an Illinois-based nonprofit. A local operator acquired the asset for an undisclosed price. Nick Glaisner of Ziegler led the transaction with the support of colleague Melanie Shaffer.

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INDIANAPOLIS — Friedman Communities, the multifamily management division of Friedman Real Estate, has been selected to manage Veridian Castleton Apartments in Indianapolis. Constructed in 1965, the property contains 398 units with a mix of one-, two- and three-bedroom layouts. Amenities include a fitness center, pool, lounge area, playground, two bark parks and a picnic and grilling area.

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1034-1042 Atlantic Ave

NEW YORK CITY — Walker & Dunlop has arranged a $109 million construction loan for a 247-unit multifamily project that will be located at 1034-1042 Atlantic Ave. in Brooklyn’s Prospect Heights neighborhood. The borrower is locally based developer EMP Capital Group. The development will consist of two adjoining buildings that will create a cross-block lot between Atlantic Avenue and Pacific Street. Units will come in studio, one-, two- and three-bedroom floor plans. More specifically, the unit mix will comprise 45 studios, 11 studio alcoves, 95 one-bedroom apartments, 44 one-bedroom residences with home offices, 49 two-bedroom units and three two-bedroom units with home offices. Amenities will include a tenant lounge, business center, screening room, karaoke room, golf simulator, game room, multiple party rooms, kids’ playrooms, social lounges and a nearly 2,000-square-foot fitness center. The property will also feature ground-floor retail space. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the five-year, interest-only loan through QuadReal Property Group. A tentative completion date was not disclosed. “Meticulously designed with floor plans that optimize all available square footage, 1034-1042 Atlantic Avenue’s two towers have been carefully crafted to pair a diverse, fair market and …

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700-River-Austin

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has topped out 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building will house 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River will feature more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. The first move-ins will begin this fall. Construction began in fall 2022.

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CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Alta Chandler at The Park, a mid-rise apartment community in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million, or $324,742 per unit. IPA Capital Markets also arranged $52 million in acquisition financing for the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only payments. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition. Atla Chandler features 291 apartments with open-concept floor plans; nine-foot ceilings; laundry closets with full-size or stackable washers/dryers; extended primary bedrooms with dedicated work-from-home space; and separate den or loft quarters. Select units have direct-access garages. Community amenities include an open-concept leasing office and clubhouse, convenience market, sky lounge, fitness center and private multi-purpose fitness room.

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