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Multifamily

Wildcreek-Apartments-Austin
AcquisitionsMultifamilyTexas

Continental Realty Group Acquires 232-Unit Apartment Complex in Southeast Austin

by Taylor Williams

AUSTIN, TEXAS — Continental Realty Group, a Denver-based multifamily owner-operator, has acquired Wildcreek Apartments, a 232-unit multifamily complex in southeast Austin. Built in 1984, Wildcreek features one- and two-bedroom units and amenities such as a clubhouse and leasing center, two pools, a dog park and a basketball court. The new ownership plans to upgrade unit interiors, building exteriors and common areas. Ryan McBride, Robert Wooten and Robert Arzola of  JLL represented the seller in the transaction.

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29-North
AcquisitionsMultifamilyNorth CarolinaSoutheast

LaRock Capital Partners Buys 101-Unit Apartment Community in Hickory, North Carolina

by Abby Cox

HICKORY, N.C. — Ashburn, Va.-based LaRock Capital Partners has acquired 29 North Apartments, a 101-unit community located in Hickory, about 58 miles north of Charlotte. Delivered in 2013, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 715 to 1,308 square feet, according to Apartments.com. Amenities include a resort-style swimming pool, fitness center, clubhouse with coworking spaces and a pet park. LaRock Capital has selected Greensboro, N.C.-based Burkely Communities to serve as the new property manager at 29 North. William Lawson of BWE originated acquisition financing on behalf of LaRock Capital. The seller and sales price were not disclosed.

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AcquisitionsColoradoMultifamilySeniors HousingWestern

Morgan Stanley Purchases Seniors Housing Portfolio in Metro Denver for $305M

by Amy Works

DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver.  “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI.  “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership.  Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.  

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The-Springs-at-Sunnyside-Portland-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

JLL Arranges Sale, Financing of 87-Unit Seniors Housing Community in Portland

by Amy Works

PORTLAND, ORE. — JLL Capital Markets has completed the sale and financing of Morningstar at Happy Valley, an assisted living and memory care property in Portland. Confluent Development sold the property to Harrison Street, in partnership with The Springs Living, for an undisclosed price. The buyer will rebrand the 87-unit property as The Springs at Sunnyside. The Springs Living will operate the asset. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Dan Baker, Jim Dooley and Dean Ferris of JLL represented the seller. Alanna Ellis of JLL led the financing efforts on behalf of the buyer. JLL secured a five-year acquisition loan with Huntington National Bank for Harrison Street. Built in 2019, The Springs at Sunnyside offers 61 assisted living units across a mix of studios, one- and two-bedroom units in addition to 26 private memory care units. The three-story building features all-day restaurant-style dining, a 24-hour bistro, chapel, theater, library, general store, massage room, outdoor courtyards, barbecue and fire pits, beauty salon, fitness room and raised garden beds. Onsite services include wellness programs and activities, a full-time licensed nurse, 24-hour care staff and scheduled transportation.

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AcquisitionsMultifamilyNew YorkNortheast

Cushman & Wakefield, Pyramid Arrange $36.7M Sale of Upstate New York Apartment Community

by Taylor Williams

GRAND ISLAND, N.Y. — Cushman & Wakefield and Pyramid Brokerage Co. have arranged the $36.7 million sale of Country Glenn, a 336-unit apartment community in Grand Island, located just outside of Buffalo. According to Apartments.com, the property was built in 1974 and offers studio, one- and two-bedroom units that range in size from 425 to 1,340 square feet. Berkley Properties sold Country Glenn to NBM Equities. Niko Nicolaou, Ryan Dowd, Peter Welch, J.P. Hohl and Alexandria Russo Ebers, in collaboration with Pyramid’s Jonathan Weinstein and Robert Stewart, brokered the deal on behalf of both parties. John Alascio, Brad Domenico, Brian Anderson and Chuck Kohaut of Cushman & Wakefield arranged acquisition financing for the transaction.

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AcquisitionsMidwestMissouriMultifamily

MMG Arranges Sale of 407-Unit Apartment Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — MMG Real Estate Advisors has arranged the sale and financing of Union Berkley, a 407-unit apartment community in Kansas City. The transaction marks the largest single-property sale ever recorded in Kansas City, according to MMG. The property was built in 2018 and is situated in the riverfront district. Harry Trotter, TJ Wahl, Brett Meinzer, Colson Bayles and Parker Guffey of MMG represented the seller.

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DevelopmentIllinoisLoansMidwestMultifamily

Maverick Secures $13.5M Construction Loan for Apartment Building in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Maverick Commercial Mortgage Inc. has arranged a $13.5 million stretch senior construction loan for a 30-unit apartment building in Evanston. A Midwest-based debt fund provided the loan. The borrower acquired the site, previously a parking lot, in 2024. The project site is located four blocks west of Northwestern University. Completion is slated for spring 2027.

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AcquisitionsArizonaMultifamilyStudent HousingWestern

Campus Invesco Buys Wildcat Canyon Village Student Housing Property in Tucson for $8M

by Amy Works

TUCSON, ARIZ. — Campus Invesco has acquired Wildcat Canyon Village, a student housing community located at 1050 E. 8th St. in Tucson, from Federal Home Loan Mortgage Corp. (Freddie Mac) for $8 million. Originally built in 1968, Wildcat Canyon Village features 76 units, totaling 128 beds. The property includes a value-add component offering the potential to expand to 164 beds through strategic unit conversions. Onsite amenities include a swimming pool, basketball court, picnic area with barbecue grills and a coffee bar. Additionally, the community features controlled access, package lockers, a laundry facility and free resident parking. Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller in the deal.

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Edition_nashville
HospitalityLoansMultifamilySoutheastTennesseeTop Stories

Tidal Real Estate Receives $400M in Construction Financing for Nashville Edition Hotel & Residences 

by Abby Cox

NASHVILLE, TENN. — Tidal Real Estate Partners has received $400 million in construction financing for The Nashville Edition Hotel & Residences, a 28-story mixed-use tower that is under construction in the state capital’s Gulch district. The project will comprise 261 hotel rooms and 84 condos. Tidal is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. The project team also includes architecture firms ESa and INC Architecture & Design, as well as Corcoran Reverie of Corcoran Sunshine Marketing Group. The construction financing, which includes both debt and equity, was provided by affiliates of KSL Capital Partners, Madison Realty Capital, Newbond Holdings and affiliates of the developer.  “The Nashville Edition is the type of design-forward, experiential project that elevates an entire neighborhood, and this financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development,” says Josh Zegen, managing principal and cofounder of Madison Realty Capital. The hotel component will occupy the lower floors of the tower and will feature various amenities, including a double-height restaurant and bar, lobby lounge, a 50-foot heated saltwater pool with cabanas and a wraparound deck with bar and restaurant service. …

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AcquisitionsAffordable HousingDevelopmentMultifamilyTexas

Fairstead Announces $242M Acquisition, Rehabilitation of Houston Affordable Housing Property

by Taylor Williams

HOUSTON — Fairstead, an affordable housing owner-operator based in New York City, has announced the $242 million acquisition and rehabilitation of Haverstock Hills, a 700-unit affordable housing property in Houston’s East Aldine neighborhood. Haverstock Hills comprises 44 two- and three-story buildings on a 22-acre site. Residences include a mix of studio, one-, two- and three-bedroom units, all of which are reserved for households earning 60 percent or less of the area median income. Fairstead plans to upgrade unit interiors, building exteriors and common areas, as well as enhance the amenities via an updated clubhouse, outdoor playground, laundry facilities and a business center. Fairstead will also invest in new safety and security measures across the property. Rainbow Housing Corp. will continue to provide onsite social services for residences of Haverstock Hills.

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