Multifamily

IPA Negotiates Sale of 306-Unit Apartment Community in Red Oak, Texas

by Taylor Williams July 31, 2026

RED OAK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Emerson at Red Oak, a 306-unit apartment community in Red Oak, a southern suburb of Dallas. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 904 square feet, as well as amenities including a pool, fitness center, picnic and grilling areas, dog park, game room and a business center. Joey Tumminello, Michael Ware, Drew Kile and Taylor Hill of IPA represented the seller, CESM Real Estate, in the transaction and procured the buyer, Professional Equity Management.

July 31, 2026

Loans Multifamily New Jersey Northeast

CBRE Arranges $30.7M Loan for Refinancing of Apartment Building in West Caldwell, New Jersey

by Taylor Williams July 31, 2026

WEST CALDWELL, N.J. — CBRE has arranged a $30.7 million loan for the refinancing of The Vail, a 92-unit apartment building in West Caldwell, about 25 miles outside of New York City. The Vail offers a mix of studio, one- and two-bedroom units, 20 percent of which are reserved as affordable housing, that feature individual washers and dryers in all units and private balconies in select residences. Amenities include a fitness center, community room and coworking spaces. Matthew Pizzolato, Josh Stein, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Lauren Weinstein and Justin Helbling of CBRE arranged the loan through Principal Financial on behalf of the borrower, New Jersey-based developer Accordia.

July 31, 2026

Development Illinois Midwest Multifamily Office

Skender Begins Conversion of Chicago Office Tower into 320 Apartment Units

by Kristin Harlow July 31, 2026

CHICAGO — Skender has begun construction on the 500 N. Michigan Ave. adaptive reuse project, which will convert the 400,000-square-foot office tower into 320 apartment units on Chicago’s Magnificent Mile. The project team includes Connecticut-based Commonwealth Development Partners and GREC Architects. Completion is slated for late 2027. Originally designed by Skidmore, Owings & Merrill and completed in 1968, the building rises 24 stories and 304 feet tall. The conversion will transform vacant floors three through 23 into residential dwelling units, while a new 25th floor with amenity space will be constructed atop the building, adding 17 feet to its height. Level 24 will house mechanical systems, and floors two through five will include additional amenity programming. Ground-floor retail will be retained. Skender’s scope of work includes full interior demolition of the existing vacant office spaces, elevator modernization throughout all floors and the complete build-out of residential units and amenity spaces.

July 31, 2026

Acquisitions California Multifamily Western

USA Properties, Strand Financial Sell 293-Unit Talavera Multifamily Community in Folsom, California

by Amy Works July 31, 2026

FOLSOM, CALIF. — USA Properties and Strand Financial has sold Talavera, a 293-unit apartment property in Folsom, located outside of Sacramento. New York-based Sentinel Real Estate acquired the property for an undisclosed price. Marc Ross, Eli Hanacek, Joe McNamara and Claire Holt of CBRE represented the sellers in the deal. According to CBRE, Talavera is the first property to become available in the Folsom submarket in four years. Located at 1550 Broadstone Parkway, the four-building community features studio, one- and two-bedroom apartments. The elevator-served property also offers a pool, hot tub, courtyard, fitness center, package lockers, pet spa, EV charging stations, fire pits, resident garages, 506 parking spaces and a DIY (do it yourself) workshop.

July 31, 2026

Acquisitions Multifamily Washington Western

Nordic Partners Investments Acquires 107-Unit Monticello Apartments in Seattle

by Amy Works July 31, 2026

SEATTLE — Nordic Partners Investments has acquired Monticello, a 107-unit apartment building located at 415 Boren Ave. in Seattle’s First Hill neighborhood, for an undisclosed price. Built in 1957, Monticello spans 42,342 net rentable square feet. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily Team represented the undisclosed seller and sourced the buyer in the off-market transaction.

July 31, 2026

Affordable Housing Development Florida Loans Multifamily Southeast

Affiliated Development Receives $74M Loan for Mixed-Income Multifamily Development in Fort Lauderdale

by Abby Cox July 31, 2026

FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the development, along with equity from the Affiliated Development Housing Impact Fund and family office capital partners. In addition, the developer secured tax rebates from Broward County and the City of Fort Lauderdale, as well as zoning priority and incentives via Florida’s Live Local Act. Moss Construction will serve as general contractor for The Cove. Situated on the site of a former hotel property, the $123 million multifamily project will reserve 55 percent, or approximately 207 apartments, for individuals and families earning up to 120 percent of the area median income (AMI). The Cove will also feature a resort-style amenity package and a parking garage.

July 31, 2026

Loans Student Housing Top Stories Walker & Dunlop

Walker & Dunlop Arranges $555.6M Refinancing for 14-Property Student Housing Portfolio

by Abby Cox July 31, 2026

CHICAGO — Walker & Dunlop Inc. has arranged a $555.6 million loan for the refinancing of a 14-property student housing portfolio totaling 4,295 units and 10,454 beds across nine states. Chicago-based real estate investment and property management company The Scion Group was the borrower. The communities are located in Arizona, Alabama, California, Colorado, Florida, Georgia, Louisiana, North Carolina and Texas. Specific property names were not disclosed. Walker & Dunlop’s Brendan Coleman, Will Baker and Colin Coleman secured the floating-rate, interest-only loan through an existing Fannie Mae credit facility. Scion maintains four Fannie Mae credit facilities, all of which were originated by Walker & Dunlop. Scion is the largest owner and operator of student housing communities globally with 190 communities and nearly 118,000 beds across 94 university markets. According to Walker & Dunlop’s 2026 Student Housing Outlook, demand continues to outpace supply across most major university markets. — Abby Cox

July 31, 2026

Acquisitions Multifamily Texas

Newmark Arranges Sale of 452-Unit Apartment Community in East Fort Worth

by Taylor Williams July 30, 2026

FORT WORTH, TEXAS — Newmark has arranged the sale of Centreport Lake, a 452-unit apartment community in East Fort Worth. Built on 24 acres in 2008, the property offers one-, two- and three-bedroom apartments with an average unit size of 946 square feet. Amenities include two pools, a dog park, business center and outdoor grilling and dining stations. Richard Furr, Brian Murphy and Brian O’Boyle Jr. of Newmark represented the seller, Marlin Spring US Realty, in the transaction. Henry Stimler and Ricky Warner, also with Newmark, arranged undisclosed amounts of acquisition financing and equity investments on behalf of the buyer, which was also not disclosed.

July 30, 2026

Loans Multifamily New York Northeast

Greystone Provides $16M Agency Loan for Refinancing of Long Island Multifamily Property

by Taylor Williams July 30, 2026

CENTRAL ISLIP, N.Y. — Greystone has provided a $16 million Fannie Mae DUS (Delegated & Underwriting Servicing) loan for the refinancing of Coventry Village, a 94-unit multifamily property in the Long Island community of Central Islip. Built in 1975 and renovated in 2011, Coventry Village is a two-building, garden-style complex that offers one- and two-bedroom units. Robert Meehan of Greystone originated the five-year, nonrecourse loan, which carries a fixed interest rate, on behalf of the undisclosed owner.

July 30, 2026

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $7.5M Sale of Multifamily Property in Midtown Manhattan

by Taylor Williams July 30, 2026

NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of a multifamily property in the Times Square submarket of Midtown Manhattan. The two-building, 12,675-square-foot property at 140-142 W. 46th St. houses six market-rate apartments, five rent-stabilized apartments and a 5,200-square-foot vacant restaurant space. Colton Traynham, Matt Fotis and Michael Weinstein of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

July 30, 2026

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