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Multifamily

110-E.-Polk-St.-Richardson-Texas
DevelopmentMultifamilyTexas

High Street, Tokyu Break Ground on 281-Unit Multifamily Project in Downtown Richardson, Texas

by Taylor Williams

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.

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DevelopmentMultifamilySoutheastTennessee

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.

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FloridaLoansMultifamilySoutheast

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.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $16.5M Sale of Upper Manhattan Apartment Building

by Taylor Williams

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.

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VAYA-on-Axia-Apts-Chula-Vista-CA.jpg
CaliforniaDevelopmentMultifamilyWestern

Ryan Cos., Strata Equity Group Open VAYA on Axia Apartments in Chula Vista, California

by Amy Works

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.

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LoansMultifamilyOregonWestern

Gantry Secures $27M in Financing for Two Multifamily Properties in Oregon

by Amy Works

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.

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AcquisitionsAlabamaMultifamilySoutheast

Newmark Negotiates $64M Sale of Apartment Community in Huntsville

by John Nelson

HUNTSVILLE, ALA. — Newmark has negotiated the $64 million sale of The Liam at Hays Farm, a 329-unit apartment property located within the 850-acre Hays Farm master-planned community in south Huntsville. Greystone purchased the property from a joint venture between Bomasada Group and an affiliate of The Wolff Co. Justin Uffinger and Sarah Nee of Newmark represented the seller in the transaction. Built in 2024, The Liam at Hays Farm features one-, two- and three-bedroom apartments, as well as a resort-style swimming pool, Zen courtyard with a fireside lounge and a modern fitness center. The sale is the largest multifamily deal in the Huntsville market since 2023, according to Newmark.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Colliers Brokers Sale of 483-Unit Apartment Community in Greensboro, North Carolina

by John Nelson

GREENSBORO, N.C. — Colliers has brokered the sale of Edgewater Village, a 483-unit, garden-style apartment community located at 5500 Weslo Willow Circle in Greensboro. Will Mathews, Thomas Leachman, Chad DeFoor and Jake Bradshaw of Colliers brokered the transaction. Built in 1974, Edgewater Village sits on 45 acres and features five internal lakes. The property offers studio, one- and two-bedroom floor plans.

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The-Pennington-Passaic-New-Jersy
AcquisitionsLoansMultifamilyNew JerseyNortheast

Cushman & Wakefield Brokers $49M Sale of Northern New Jersey Apartment Building

by Taylor Williams

PASSAIC, N.J. — Cushman & Wakefield has brokered the $49 million sale of The Pennington, a 147-unit apartment building in the Northern New Jersey community of Passaic. Completed in 2024, The Pennington is an adaptive reuse building that offers studio, one-, two-, three- and four-bedroom units with an average size of 968 square feet. P3 Properties acquired the asset from Birch Group. Niko Nicolaou, Ryan Dowd, David Bernhaut, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield brokered the deal. Brad Domenico, John Alascio, Chuck Kohaut, Frank Stanislaski, Ethan Thompson and Jack Subers, also with Cushman & Wakefield, arranged $45.9 million in acquisition financing for the transaction through Prime Finance.

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Rye-SoBo-Apts-Denver-CO
ColoradoLoansMultifamilyWestern

Price Brothers Receives Refinancing for 353-Unit Rye SoBo Multifamily Property in Denver

by Amy Works

DENVER — Price Brothers has obtained refinancing for Rye SoBo, an apartment community in Denver. Cortney Cole, Leon McBroom and Emily Goldberry of JLL Capital Markets secured the floating-rate loan through a debt fund for the borrower. Located at 290 W. Alameda Ave., Rye SoBo features 353 studio, one- and two-bedroom apartments with open floor plans, high-end interior finishes and contemporary finishes. Onsite amenities include a rooftop lounge with mountain and downtown views, a two-story fitness center, two-story coworking lounge with conference rooms, swimming pool with a hot tub, beer garden with outdoor games, a pet spa, electric vehicle charging stations and a rooftop bark park with access to a large public dog park. The Class A mid-rise property was completed in 2021.

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