Multifamily

MMG Real Estate Advisors Arranges Sale of 192-Unit Apartment Complex in Bryan, Texas

by Taylor Williams October 5, 2026

BRYAN, TEXAS — Regional brokerage firm MMG Real Estate Advisors has arranged the sale of The Element at University Park, a 192-unit apartment complex in the Central Texas city of Bryan. Built in 2000, the property offers one- and two-bedroom units and an array of sports courts — basketball, volleyball, pickleball — in addition to a business center. Houston-based Lumen Capital sold the property to Hayden Properties for an undisclosed price. Harris Weber, Michael Moffitt, Michael Watson, Michael Miller and Thomas Skevington of MMG brokered the deal.

October 5, 2026

Affordable Housing Development Multifamily Texas

April Housing Underway on $21.5M Renovation of Arlington Affordable Housing Complex

by Taylor Williams October 5, 2026

ARLINGTON, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, is underway on the $21.5 million renovation of Mayfield Park, a 11-building, 240-unit complex in Arlington that was built in 2000. The renovation is part of a resyndication that will preserve the property’s affordability status for another 30 years. Upgrades will include new flooring and appliances, new water heaters and HVAC systems, fresh painting and lighting, accessibility improvements and enhancements to amenity spaces. Benton Design Group is the project architect, and ICON Builders is the general contractor.

October 5, 2026

Development Florida Loans Multifamily Southeast

PTM Partners Obtains $125M Construction Loan for Phase II of High-Rise Project in St. Petersburg, Florida

by Abby Cox October 5, 2026

ST. PETERSBURG, FLA. — PTM Partners has obtained a $125 million construction loan to finance EDGE Collective II, a 330-unit residential development in downtown St. Petersburg’s EDGE District. Scott Wadler, Alec Fox, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the three-year, floating-rate loan through an affiliate of GID on behalf of PTM Partners. Rising 20 stories, EDGE Collective II will feature 330 residential units with roughly 19,000 square feet of retail space. Further details of the project were not disclosed. Berkadia also advised PTM Partners on the debt and equity capitalization of Edge Collective’s first phase, including $42 million in construction financing for the Moxy St. Petersburg Downtown and the adaptive reuse components of the mixed-use development.

October 5, 2026

Development Florida Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Provides $75M Refinancing of 23-Story Multifamily Tower in Metro Tampa

by Abby Cox October 5, 2026

ST. PETERSBURG, FLA. — Walker & Dunlop has provided a $75 million Freddie Mac loan to refinance EVO St. Petersburg, a 220-unit residential complex located at 334 2nd Ave. S. in St. Petersburg. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Sean Reimer, Dustin Stolly, Michael Stepniewski, Michael Ianno and Cody Ela of Walker & Dunlop arranged the fixed-rate financing on behalf of the borrower, FrontRange Capital Partners. Delivered in 2023, the 23-story tower features studio, one-, two- and three-bedroom floorplans. The community provides roughly 23,000 square feet of indoor-outdoor amenities including a swimming pool, fitness center, business center, clubhouse, a pet play area and 13,000 square feet of ground-floor retail.

October 5, 2026

Development Louisiana Multifamily Southeast

RNGD Begins Vertical Construction on 251-Unit Multifamily Development in Elmwood, Louisiana

by Abby Cox October 5, 2026

ELMWOOD, LA. — RNGD has begun vertical construction on The Francis, a 251-unit multifamily development located in Elmwood, about nine miles west of New Orleans. The project will replace a former Kmart store at Elmwood Center, a 1 million-square-foot open-air shopping center. Construction is slated for completion in spring 2028. Hancock Whitney Bank is providing financing for the project. The Jefferson Parish Economic Development Commission (JEDCO) collaborated with the Jefferson Parish Council and the development team on economic incentives, including a Payment In Lieu of Taxes (PILOT) structure. LRK is serving as architect, Parallel is leading interior design and RNGD is the general contractor. The Francis will feature one- and two-bedroom apartments with open-concept layouts and modern finishes. Amenities will include a central courtyard with a resort-style swimming pool and landscaped green spaces, a fitness center, coworking and creative spaces, resident library, dog walk and additional community gathering areas. The development team estimates the project will support more than 200 construction and permanent jobs. In addition to the residential building, Lauricella Land Co. is also planning a 70,000-square-foot expansion of Elmwood Center’s retail and dining options adjacent to The Francis.

October 5, 2026

Acquisitions California Multifamily Western

Berkadia Arranges $6.8M Sale of Apartment Building in Los Angeles’ Westchester Neighborhood

by Amy Works October 5, 2026

LOS ANGELES — Berkadia has arranged the $6.8 million sale of Altezza, a 16-unit apartment building in the Westchester neighborhood of Los Angeles. Steffan Braunlich of Berkadia El Segundo led the transaction on behalf of the seller, Revere Investments of Rolling Hills Estates, California. The buyer was Edud Investments, based out of Corona, California. The deal closed on Sept. 21. Located at 6925 Kittyhawk Ave., the property was built in 1993 and features 16 two-bedroom, two-bathroom apartments, including upper-level, two-story loft layouts. The property also includes in-unit stackable washers and dryers, central heating and air conditioning, controlled access and 32 subterranean parking spaces.

October 5, 2026

Affordable Housing Loans Multifamily New York Northeast

Walker & Dunlop Arranges $170.5M Loan for Refinancing of Harlem Apartment Community

by Taylor Williams October 5, 2026

NEW YORK CITY — Walker & Dunlop has arranged a $170.5 million permanent loan for the refinancing of Lenox Terrace, a 1,696-unit apartment community in Harlem. Opened in 1958, Lenox Terrace primarily offers rent-restricted residences that are housed across six 16-story buildings. Amenities include landscaped green spaces, a dog park and a playground. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno and Cody Ela of Walker & Dunlop arranged the loan through Chase Commercial Bank on behalf of the owner, The Olnick Organization.

October 5, 2026

Delaware Development Multifamily Northeast Seniors Housing

Joint Venture Breaks Ground on 144-Unit Seniors Housing Project in Coastal Delaware

by Taylor Williams October 5, 2026

REHOBOTH BEACH, DEL. — A joint venture between Michigan-based development and investment firm REDICO and operator Ciel Senior Living has broken ground on a 144-unit project in the coastal Delaware community of Rehoboth Beach. Ciel of Rehoboth will offer independent living, assisted living and memory care services in addition to resort-style amenities, social programming and personalized wellness and care services. Completion is slated for 2028.

October 5, 2026

Development Midwest Multifamily Wisconsin

Galway Cos. Underway on 357-Unit Luxury Apartment Complex in Monona, Wisconsin

by Kristin Harlow October 5, 2026

MONONA, WIS. — Galway Cos. is under construction on The Greenline, a 357-unit luxury apartment community with 16,000 square feet of ground-floor commercial space in Monona, a suburb of Madison. The broader vision for the development includes a central park with a gathering place for farmers’ markets, food trucks, outdoor concerts, movie nights and community events. The city and the Monona Community Development Authority are partnering on the project. The project team includes McGann Construction Inc., Stevens Construction Corp., RG Huston, JLA Architects, Vierbicher and Dave Jones. Financing partners include Old National Bank, Johnson Financial Group and Bank CMG.

October 5, 2026

Acquisitions Illinois Midwest Multifamily

Becovic Residential Acquires Chicago Apartment Building for $20M

by Kristin Harlow October 5, 2026

CHICAGO — Becovic Residential has acquired an historic property at 5154 N. Clark St. in Chicago for $20 million and has rebranded it as The Quarters at Andersonville. Built in 1923, the asset consists of 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous ownership for more than 40 years. The acquisition marks Becovic’s entry into the Andersonville neighborhood. Becovic plans to preserve the building’s historic character while making improvements to the residential experience. Becovic Management Group Inc. will provide property management services. Essex Realty Group brokered the transaction. Elizaeth Hozian of Associated Bank originated acquisition financing.

October 5, 2026

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