Multifamily

Joint Venture Acquires 243-Bed Student Housing Community Near University of Texas at Austin

by Taylor Williams March 30, 2026

AUSTIN, TEXAS — A joint venture between Ascentris and Student Quarters has acquired Noble 2500, a 243-bed student housing community serving students at the University of Texas at Austin. Built in 2023, the property is located in Austin’s West Campus neighborhood and offers 118 fully furnished units in studio, one-, two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include study lounges, a courtyard pool, fitness center, yoga studio and a rooftop sky lounge. The new ownership plans to enhance the property’s common areas and implement operational improvements to boost leasing performance. The seller and sales price were not disclosed.

March 30, 2026

Affordable Housing Development Loans Multifamily Washington Western

JLL Arranges $88M Construction Loan for Multifamily Project in Shoreline, Washington

by Amy Works March 30, 2026

SHORELINE, WASH. — Evergreen Point Group has received $88 million in construction financing for Leeway, an apartment project in Shoreline. Steve Petrie, Seth Heikkila, Tom Wilson and Jake Davidson of JLL Capital Markets secured the loans through a regional bank on behalf of the borrower. Located at 142 N.E. 147th St., the seven-story property will feature 360 apartments and 3,371 square feet of ground-floor retail space. Community amenities will include a fitness center, rooftop lounge and deck, coworking spaces, a pet spa and secure parking spanning two stories of subterranean parking with 224 spaces and 49 electric vehicle charging stations. Designed as a transit-oriented development, Leeway will be connected to the Shoreline South Light Rail Station via a pedestrian bridge, being built by the city of Shoreline, across Interstate 5. Additionally, the property will participate in Shoreline’s 12-year Multifamily Tax Exemption program, with 20 percent of units restricted to affordable housing at 70 percent to 80 percent of area median income limits. The program includes a 12-year extension option.

March 30, 2026

Acquisitions Arizona Multifamily Western

EMZ Equity Group Sells 24-Unit Alvernon Apartments in Tucson

by Amy Works March 30, 2026

TUCSON, ARIZ. — EMZ Equity Group has completed the sale of Alvernon Apartments, a multifamily community in Tucson, to Alvernon Coyote LLC for $1.8 million. Located at 2053 and 2099 N. Alvernon Way, the 13,200-square-foot complex features 24 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the seller and buyer in the deal.

March 30, 2026

Acquisitions Illinois Midwest Multifamily

Eastham Capital, Bender Cos. Buy Multifamily Community in Metro Chicago for $24.1M

by Kristin Harlow March 30, 2026

GLENDALE HEIGHTS, ILL. — Eastham Capital has acquired The Flats at Gladstone in the Chicago suburb of Glendale Heights with its operating partner Bender Cos. The purchase price was $24.1 million. The 168-unit, garden-style community was 96 percent leased at the time of sale. Rents average $1,690 per month. Built in 1977, The Flats at Gladstone consists of 31 buildings. A renovation plan calls for more than $2.5 million in exterior building improvements and interior unit upgrades, complemented by the construction of a new clubhouse with a fitness center, leasing office and maintenance shop. To date, Eastham and Bender have co-invested in 12 projects.

March 30, 2026

Development Hospitality Loans Multifamily Northeast Pennsylvania

Cronheim Arranges $40M Construction Loan for Hotel, Condo Project in State College, Pennsylvania

by Taylor Williams March 30, 2026

STATE COLLEGE, PA. — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $40 million construction loan for a 70-room hotel and condo project in State College. The site is located at the gateway to Penn State University’s campus, and the building will include ground-floor retail space. Residences/hotel rooms will feature premium finishes, and residents will have access to 24/7 security, concierge and housekeeping services, as well as use of a fitness center. An undisclosed national lender provided the nonrecourse loan to the borrower, which also requested anonymity.

March 30, 2026

Acquisitions Development Multifamily New Jersey Northeast Seniors Housing

Hudson Atlantic Negotiates $9.2M Sale of Multifamily Development Site in Paramus, New Jersey

by Taylor Williams March 30, 2026

PARAMUS, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $9.2 million sale of a multifamily development site in the Northern New Jersey community of Paramus. The 9.9-acre site at 731 Pascack Road is fully approved for the development of a 162-unit, age-restricted project that will be known as The Residences at Joy Farms. Units will come in one- and two-bedroom floor plans, and amenities will include a fitness center, bar/kitchen area and indoor/outdoor social spaces. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

March 30, 2026

Acquisitions Multifamily Texas

IPA Negotiates Sale of 216-Unit Apartment Complex in Temple, Texas

by Taylor Williams March 27, 2026

TEMPLE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Summit Ridge, a 216-unit apartment complex in the Central Texas city of Temple. Summit Ridge offers one-, two- and three-bedroom units with an average size of 956 square feet and amenities such as a pool, dog park, clubhouse, business center and a fitness center. Will Balthrope of IPA, in conjunction with Tommy Lovell III and Richard Robson of Marcus & Millichap, represented the seller, a private investor, in the transaction. The trio also procured the buyer, Ilan Investments LLC.

March 27, 2026

Development Multifamily New York Northeast

Lendlease Welcomes First Residents To 834-Unit Apartment Community in Brooklyn

by Taylor Williams March 27, 2026

NEW YORK CITY — Lendlease has welcomed the first residents to The Riverie, an 834-unit apartment community in the Greenpoint neighborhood of Brooklyn. Spanning an entire city block along the East River, The Riverie comprises two towers that rise 37 and 20 stories, as well as a mid-rise podium with frontages along India, West and Java streets. Residences range from studios to three bedrooms, including select penthouses and townhomes. Of the total unit count, 30 percent of residences are designated as affordable housing. The development also features 13,000 square feet of retail and restaurant space, Class A amenities and new public green space. Marvel was the project architect. Rents start at roughly $3,800 per month for a studio apartment. The Riverie was capitalized in late 2022. Construction began in spring 2023 and topped out in fall 2024, at which point the project was known as 1 Java Street.

March 27, 2026

Acquisitions Development Florida Multifamily Office Southeast

Ascentris-Led Partnership Sells Two South Florida Office Buildings, Launches Multifamily Conversion Project

by Abby Cox March 27, 2026

DORAL, FLA. — Ascentris, in partnership with Highline Real Estate Capital and Square2 Capital, has completed a multi-phase repositioning of Westside Plaza, a three-building, 382,637-square-foot office complex in Doral, a western suburb of Miami. As a result of the project completion, Miami-based COFE Properties purchased two office buildings within Westside Plaza totaling 276,637 square feet at 8200 and 8400 N.W. 33rd St. for $63 million, according to South Florida Business Journal. Westside I and II were 98 percent leased following a renovation, including upgraded lobbies, common areas and tenant amenities, as well as the addition of two spec suites. Tenants in the office buildings include Guidewell Sanitas, US Med, LLC, Inktel Contact Center Solutions and Venture X. Chris Lee, Sean Kelly, Tom Rappa and Matthew Lee of CBRE brokered the sale. Parallel to the transaction, a joint venture between the Ascentris-led partnership and multifamily developer ZOM Living acquired Westside Plaza II, a 106,000-square-foot office building that will be transformed into a 380-unit multifamily community under Florida’s Live Local Act, a strategy designed to provide more affordable housing opportunities. Robert Given, Brad Capas and Troy Ballard of CBRE brokered the sale of Westside Plaza II.

March 27, 2026

Affordable Housing District of Columbia Loans Southeast

DCHFA Provides Financing for 178-Unit Affordable Housing Redevelopment in D.C.

by Abby Cox March 27, 2026

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided financing to rehabilitate Henson Ridge II, a 178-unit affordable housing community located in the Douglass neighborhood of Ward 8 in Washington, D.C. DCHFA issued $40 million in tax exempt bonds, along with $37.5 million in federal Low Income Housing Tax Credit (LIHTC) equity and $9.3 million in District of Columbia LIHTC equity. Urban Atlantic Development LLC and Capitol Housing Partners LLC (a subsidiary of the DCHA) are the developers planning to rehabilitate Henson Ridge II. The proposed $103 million rehabilitation is made up of 64 LIHTC units and 114 project-based voucher (PBV) units. The scope of work for the rehabilitation includes replacement of roofs, windows, doors, kitchens and bathrooms, as well as improvements to modernize the HVAC/mechanical systems. The mix of units consists of 52 one-bedroom, 28 two-bedroom, 50 three-bedroom, 38 four-bedroom and 10 five-bedroom units. All units will be reserved for residents earning 30 and 60 percent or less of the area median income (AMI). The 30 percent AMI units will benefit from PBV operating subsidies.

March 27, 2026

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