KETTERING, OHIO — Bernard Financial Group has arranged a $7 million permanent loan for the refinancing of a 250-unit multifamily property in Kettering, an inner suburb of Dayton. Joshua Bernard arranged the loan through a life insurance company on behalf of the borrower, Fox Hunt Owner LLC.
HALTOM CITY, TEXAS — Newmark has arranged the sale of a portfolio of two multifamily properties totaling 586 units in Haltom City, a northern suburb of Fort Worth. Hidden Lakes and The Ranch at Fossil Creek total 312 and 274 units, respectively. Both properties offer one-, two- and three-bedroom floor plans and amenities such as pools, fitness centers, clubhouses, business and coworking spaces, sports courts and outdoor recreation areas. Richard Furr, Brian O’Boyle Jr. and Brian Murphy of Newmark represented the seller, Exponential Property Group, in the transaction. The buyer was Mox Living. Braden Harmon, Hank Glasgow and Jeff Fein, also with Newmark, arranged acquisition financing for the deal.
Gilbane Development Breaks Ground on Office-to-Residential Conversion Project in Arlington, Virginia
ARLINGTON, VA. — Gilbane Development has begun the conversion of a six-story, 121,200-square-foot vacant office building at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Dubbed Renley, the redevelopment will deliver 94 multifamily units in one- through three-bedroom configurations. Situated adjacent to the Virginia Square-GMU Metro station, Renley is one of the first projects to leverage Arlington County’s updated adaptive reuse policy, which was adopted in November 2024. The policy was designed to streamline office-to-residential conversions and create incentives for developers to bring underutilized office buildings “back to life.” Renley is targeted for completion in April 2027. Gilbane Development originally acquired the property in March 2025. The redevelopment plan will preserve the building’s exterior, while updating the entire interior. Resident amenities will include a wellness center, coworking spaces, lounges, gathering areas and tenant storage on every floor. Renley will also offer 5,637 square feet of ground-floor retail space and 207 parking spaces located in an underground garage.
NEWTOWN COUNTY, GA. — Hillpointe has opened Pointe Grand Covington, a 216-unit attainable multifamily community located at 8000 Revolution Way in Covington, about 36 miles east of Atlanta. Pointe Grand Covington features two-bedroom residences with modern finishes, smart home technology and in-unit amenities, such as full-size washers and dryers, digital keyless entry and private patios or balconies. Community amenities at the pet-friendly property include a resort-style swimming pool, fitness center, pickleball court, electric vehicle charging stations and a variety of indoor and outdoor gathering spaces.
KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing efforts for The Reserve at Three Ridges, a 126-unit build-to-rent townhome community located in northeast Knoxville. The community offers three- and four-bedroom homes ranging in size from 1,381 to 1,554 square feet. Interiors include open layouts, granite countertops, stainless steel appliances, smart home technology and walk-in closets, as well as attached garages. In addition, The Reserve at Three Ridges features direct access to I-40 and connections to major employers like Oak Ridge National Laboratory, Covenant Health, DENSO Manufacturing and the University of Tennessee.
NORTH BERGEN, N.J. — Madison Realty Capital has provided a $61 million bridge loan for Braddock Park West, a 10-story apartment building located outside of New York City in North Bergen. Completed earlier this year, Braddock Park West features 135 units in studio, one- and two-bedroom floor plans with an average size of 801 square feet. Amenities include a fitness center, coworking lounge and a rooftop terrace. Jordan Casella, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Cole Grims of Walker & Dunlop arranged the floating-rate loan on behalf of the owner, Sanz Property Management.
NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. has broken ground on a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. Completion is slated for summer 2028, with full occupancy planned for 2029.
HALFMOON, N.Y. — JLL has negotiated the sale of The Kensington at Halfmoon, a 200-unit apartment complex located on the northern outskirts of Albany. Built in 2014, the property features one- and two-bedroom units with an average size of 1,228 square feet. Amenities include a pool, fitness center, dog park, movie theater, coffee bar and a resident clubhouse. Steve Simonelli, Jose Cruz and Austin Pierce of JLL represented the seller, Richbell Capital, in the transaction. JLL also arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, MLG Capital.
HOUSTON — A partnership between The NHP Foundation, Trinity East Village Community Development Corp. and Housing Alliance HTX, will develop an affordable seniors housing project in Houston. Trinity East Senior Village, the property will comprise 90 units for residents age 55 and older in the city’s Third Ward neighborhood. Construction is scheduled to begin this summer, with the opening scheduled for 2027. NRP Construction will serve as the general contractor for the project.
LUBBOCK, TEXAS — Housing Trust Group has completed an affordable housing conversion project in the West Texas city of Lubbock. The project transformed the historic, vacant Jim Kimmel Center, which was originally constructed in 1964 as a 91-room motel, into a complex with 56 units that are reserved for households earning between 30 and 80 percent of the area median income. Schmidt & Stuart Architects designed the project, which also involved the demolition of a restaurant and gas station on the site.
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