CHICAGO — Interra Realty and Triton Realty Group have brokered the sale of a three-building multifamily portfolio totaling 115 units in Chicago’s Rogers Park neighborhood. The properties sold for $16.1 million in an off-market deal. All of the buildings were fully occupied at the time of sale and are located on North Damen Avenue. Brad Feldman of Interra and Harrison Cohen of Triton represented the seller, George Triff. The duo also represented the buyer, a private individual investor.
OVERLAND PARK, KAN. — Brinkmann Constructors has broken ground on a five-story building at the Tallgrass Creek Senior Living campus in the Kansas City suburb of Overland Park. Maryland-based Erickson Senior Living is the developer. The 173,000-square-foot property marks Brinkmann’s fifth residential building in Neighborhood Two at the Tallgrass Creek campus. As the final residential addition to the campus, the new building will feature 89 units built over a podium deck with below-grade parking. Lantz-Boggio Architects PC is the architect.
COLLEGE STATION, TEXAS — Pinecrest has broken ground on The Penny on College Main, a 605-bed student housing project that will be located at 415 College Main St. near the Texas A&M University campus in College Station. The property will offer 199 units in studio, one-, two-, three-, four- and five-bedroom configurations with bed-to-bath parity, including townhomes. Shared amenities will include multiple study spaces, a resort-style pool, pickleball court, fitness center, package lockers, an automated market and a pet relief area and washroom. The development team for the project, which is scheduled for completion in summer 2027, includes Rhode Partners, Rycon Construction, Mitchell & Morgan and Rhode Interior Design. CIBC USA and First Bank of Chicago provided construction financing for the development.
KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed a 181-unit multifamily project located on the northern outskirts of Houston in Kingwood. Residences at Kingwood East, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents the second phase of a larger development that comprised 240 apartments and 49 townhomes and was recently completed. Residences come in one-, two- and three-bedroom formats. Apartments have an average size of 1,046 square feet, and townhomes have an average size of 1,530 square feet. Amenities include a pool, grilling areas, fitness center, resident lounge and an entertainment kitchen. Rents start at $1,500 per month for a one-bedroom apartment. W Partnership served as the project architect, and Arch-Con Corp. was the general contractor. Additional project partners include engineering firm Kimley-Horn, KW Landscape Architects and Compass Design. Sumitomo Mitsui Trust Bank financed construction of the project.
COLORADO SPRINGS, COLO. — A partnership between Brinkmann Constructors and Cohen-Esrey Development Group has completed Panorama Heights, a 160,000-square-foot affordable housing community in Colorado Springs. Panorama Heights offers 113 apartments, 19,000 square feet of below-grade parking, a dog wash station, dog park, bicycle room, fitness room, playground and a community room with a patio. Designed by Davis Partnership Architects, the sustainable all-electric building features rooftop solar arrays. Located in southeast Colorado Springs, property is one of the first of its kind to secure tax-increment financing through an Urban Renewal Authority, receive development and utility fee rebates and include 15 units reserved for low-income veterans referred by Pikes Peak Continuum of Care.
SAN DIEGO — Naturally Affordable Housing has received $10.1 million in bridge financing for North Park Nest, an apartment community located at 4233 Kansas St. in San Diego. Brad Vansant and Ben Choromanski of JLL Capital Market’s Debt Advisory team secured the short-term floating-rate loan for the borrower. The four-story North Park Nest features 39 studio and one-bedroom units with an average size of 486 square feet and 11-foot ceilings. Amenities include air conditioning, stainless steel appliances, in-unit washers/dryers and a rooftop deck with a barbecue and lounge area.
BROWNSTOWN TOWNSHIP, MICH. — Friedman Real Estate has brokered the $16.9 million sale of South Glen Apartments in Brownstown, a southern suburb of Detroit. The 159-unit multifamily property is located at 19400 S. Glen Blvd. The sales price represents $106,603 per unit. Peter Jankowski and Rich Deptula of Friedman represented the undisclosed buyer and seller in the transaction.
ANTIOCH, ILL. AND LAKE GENEVA, WIS. — Greystone has provided two Fannie Mae loans totaling $15.4 million for the refinancing of a 253-unit multifamily portfolio in Illinois and Wisconsin. Each of the two garden-style properties received a $7.7 million loan. Geneva Meadows Apartments is a 108-unit community in Lake Geneva, Wis., and Antioch Manor Apartments is a 145-unit property in Antioch, Ill. Kyle Jemtrud and Wilson Molitor of Greystone originated the nonrecourse loans, which feature fixed interest rates, seven-year terms, 30-year amortization schedules and interest-only payments for the entire term of the loan.
JERSEY CITY, N.J. — BHI, the U.S. division of Israel’s Bank Hapoalim, has provided a $35 million construction loan for a 202-unit multifamily project in Jersey City. The development at 277-301 West Side Avenue will be a six-story building that will house 42 studios, 119 one-bedroom units, 32 two-bedroom apartments and nine three-bedroom residences. Ten percent of the units will be reserved as affordable housing, and the building will also feature 5,800 square feet of commercial space. Amenities will include a pool, fitness center, sauna, meditation room, rooftop terrace and outdoor grilling and dining stations. The borrower is Tay Investments.
BOSTON — A partnership between nonprofit developer The Community Builders and social services provider Pine Street Inn has completed The Lyndia, a 202-unit affordable housing project in Boston’s Jamaica Plain neighborhood. Designed by Boston-based RODE Architects, The Lyndia offers 140 units for formerly homeless individuals and 62 income-restricted units, as well as 13,000 square feet of community space. Residents will have access to resources like medical and mental healthcare, vocational and volunteer opportunities.
