SAN MARCOS, TEXAS — Charleston, S.C.-based Woodfield Development has begun leasing Strait & Nelson, a 360-unit apartment community in San Marcos, located roughly midway between Austin and San Antonio. Strait & Nelson offers one-, two-, and three-bedroom units that range in size from 719 to 1,387 square feet. Residences feature stainless steel appliances, quartz countertops and wood-style vinyl flooring. Amenities include a pool, clubroom with an entertainment kitchen, fitness center with dedicated yoga space, coworking lounge with private offices and conference rooms, pickleball and sand volleyball courts, a gaming lounge, private dining room and two dog parks. Dwell Design Studio was the project architect, and ChalkLine General Contractors handled construction. Rents start at roughly $1,300 per month for a one-bedroom apartment.
Multifamily
Walker & Dunlop Arranges $68.2M Refinancing for Multifamily Property in Arapahoe County, Colorado
by Amy Works
ARAPAHOE COUNTY, COLO. — Walker & Dunlop has secured a $68.2 million loan for the refinancing of Madison at Copperleaf, a 330-unit multifamily community in unincorporated Arapahoe County. Dustin Stolly, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Sean Reimer, Michael Ianno, Christopher de Raet and Jason Schwartzberg of Walker & Dunlop Capital Markets Institutional Advisory, along with Justin Nelson and P.J. Feichtmeier of Walker & Dunlop Capital Markets Real Estate Finance, arranged the three-year, floating-rate bridge loan for the borrowers, BMC Investments and Rockpoint. Prime Finance provided the loan. Located at 22500 E. Radcliff Circle, Madison at Copperleaf features one-, two- and three-bedroom layouts. Community amenities include a clubhouse with coworking spaces, a resort-style pool and spa, fitness and yoga studios, a sauna, children’s playroom, dog park and pet spa, EV charging and outdoor gathering areas.
CHICAGO — Moyer Properties has begun pre-leasing efforts for The Maven, an 84-unit luxury apartment community at 537 W. Drummond Place in the heart of Chicago’s Lincoln Park neighborhood. Cross Street, the leasing and marketing firm for the property, is conducting guided hard-hat tours. Move-ins will begin June 15. The seven-story building offers a variety of residences ranging from 415 to 1,047 square feet, with monthly rents starting at $2,395. Amenities include a fitness center, coworking lounge, rooftop terrace, pet spa, package room and bicycle storage. ParkFowler Plus designed The Maven, and Summit Design + Build served as the general contractor.
ROCKFORD, ILL. — SVN Chicago Commercial has brokered the $5.1 million sale of Auburn Manor Apartments, a 108-unit workforce housing property in Rockford. The HAP Section 8 community totals 104,956 square feet. Reid Bennett, Cody Doran and Dan Short of SVN represented the seller. The transaction marks the final disposition within the seller’s portfolio, as the firm shifts its focus toward third-party management assignments.
RICHARDSON, TEXAS — A joint venture between High Street Residential, a subsidiary of Trammell Crow Co., and Tokyu Land Corp. has broken ground on a 281-unit multifamily project in the northeastern Dallas suburb of Richardson. The site is located at 110 E. Polk St. in the downtown area, and the complex will feature studio, one- and two-bedroom units that will range in size from 590 to 1,340 square feet. Amenities will include a pool, clubroom, coworking areas, grilling stations, a fitness center, dog wash station and a package room. WDG Architects designed the project, and Andres Construction is serving as the general contractor. Completion is slated for the fourth quarter of 2027.
Crescent, Stockbridge Capital Break Ground on 277-Unit Apartment Development in West Nashville
by John Nelson
NASHVILLE, TENN. — Crescent Communities has broken ground on NOVEL Richland Creek, a 277-unit multifamily development located in west Nashville. The Charlotte-based firm is co-developing the community with San Francisco-based Stockbridge Capital Group, which owns the adjacent Lion’s Head Village, a shopping center anchored by Trader Joe’s. Designed by KTGY, NOVEL Richland Creek will feature studio, one-, two- and three-bedroom apartments, as well as 4,800 square feet of retail space and direct trailhead access to the Richland Creek Greenway. Amenities will include a lobby with a café and wine bar, maker and wellness spaces, coworking and book club room areas, a rooftop pool and indoor and outdoor gathering spaces. The design-build team includes ESG (interior design), EM Structural (structural engineer), Lighthouse Engineering (MEP engineer), Barge Civil Associates (civil engineer) and Hawkins Partners (landscape architect). J.P. Morgan provided an undisclosed amount of construction financing to Crescent and Stockbridge Capital.
Walker & Dunlop Arranges $79M Refinancing for Multifamily Property in Florida Panhandle
by John Nelson
SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million loan for the refinancing of The Jewel at Santa Rosa Beach, a Class A, 408-unit apartment community in Florida’s Panhandle region. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, Keith Melton and David Strange of Walker & Dunlop arranged the interest-only, nonrecourse bridge loan through an institutional debt fund on behalf of the borrower, Bristol Development Group. Located at 158 Malachite Way, The Jewel sits along US Highway 98 and three miles north of the popular 30A corridor. The property features one-, two- and three-bedroom townhome-style residences, as well as a clubhouse, fitness center, two swimming pools, coworking space, golf lounge and a dog park and spa.
NEW YORK CITY — Marcus & Millichap has brokered the $16.5 million sale of a 25-unit apartment building in Upper Manhattan’s Yorkville neighborhood. The six-story building at 443 E. 88th St. exclusively offers market-rate units. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the deal. The duo also worked with Marcus & Millichap’s Mark Zarrella to procure the buyer, Jade Century Properties.
CHULA VISTA, CALIF. — Ryan Cos. US and equity partner Strata Equity Group have opened VAYA on Axia, a multifamily property in the Otay Ranch submarket of Chula Vista. The 340,000-square-foot project is situated within the master-planned community of Millenia. VAYA on Axia features 278 apartments, 482 parking spaces, a resort-style pool and spa, a rooftop deck, pet amenities, a fitness center, resident clubhouse, bike maintenance and storage facilities, electric vehicle chargers and community green areas. Additionally, the property offers an 1,180-square-foot commercial space that is a public coworking space, including a podcast studio. Ryan served as the developer and builder for the project.
TIGARD AND LAKE OSWEGO, ORE. — Gantry has secured permanent loans totaling $27 million for two stabilized apartment communities in Oregon — Main Street Village in Tigard and The Ridge at Mountain Park in Lake Oswego. Totaling 373 units, the communities offer a variety of amenities, including swimming pools, clubhouses and covered parking and/or garages. Blake Hering and Kristin Lapinskas of Gantry represented the borrower, a private real estate group, in the financing. Both seven-year, fixed-rate nonrecourse loans were provided by one of Gantry’s correspondent insurance company lenders and include either full-term or partial term interest-only payments. Gantry will service the loans on behalf of the lender.
Newer Posts