Thursday, July 10, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

The-James-Irvine-CA
CaliforniaDevelopmentLoansMultifamilySeniors HousingWestern

JLL, HJ Sims Arrange $473M in Financing for Development of Seniors Housing Community in Irvine, California

by Amy Works

IRVINE, CALIF. — JLL Capital Markets and HJ Sims have arranged $473 million in tax-exempt and taxable bond financing for the ground-up development of The James, a luxury rental, 350-bed seniors housing community in Irvine. The transaction is the largest tax-exempt senior living financing of the year and the largest nonprofit, single-site senior living bond issue in history, according to JLL. JLL’s Seniors Housing Capital Markets team worked on behalf of Harbert South Bay Partners, LAMB Properties, P3 Foundation and Momentum Senior Living to secure the 35-year financing with HJ Sims hired as sole underwriter of the bonds. The financing consisted of $442.1 million of publicly offered tax-exempt senior series 2024A bonds, $12.9 million in taxable senior series 2024B bonds, and $18 million in subordinate tax-exempt series 2024c and 2024d bonds. JLL also handled the land sale to the partnership on behalf of the seller. The groundbreaking for The James — the first new senior living community in the Irvine market in 28 years — will take place later this month and the target date for completion is June 2027. The community will offer 210 independent living units, 110 assisted living units and 30 memory care units with a mix of …

Continue Reading
FacebookTwitterLinkedinEmail
2607-Solana-Way-Laguna-Beach-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Negotiates $7.4M Sale of Apartment Community in Laguna Beach, California

by Amy Works

LAGUNA BEACH, CALIF. — CBRE has negotiated the sale of Sterling Plaza Apartments, a multifamily property in Laguna Beach. Located at 2607 Solana Way, Sterling Plaza features 12 one- and two-bedroom apartments, including a two-bedroom penthouse. The three-story, 9,823-square-foot property was built in 1962 and 1963. The property offers 14 parking spaces (11 carports plus three open spaces), an onsite laundry facility and the units are individually metered for electricity. Dan Blackwell and Mike O’Neill of CBRE represented the San Francisco Bay Area-based seller and the Los Angeles County-based buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsSouth CarolinaSoutheastStudent Housing

Inland Acquisitions Buys 673-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — Inland Real Estate Acquisitions has purchased the Sawyer on Lincoln, a 673-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Inland acquired the newly delivered property on behalf of an affiliate. The seller and sales price were not disclosed. Delivered in 2023, the 277-unit Sawyer on Lincoln features one-, two- and three-bedroom, fully furnished apartments with bed-to-bath parity. Shared amenities include private and group study rooms, a 24-hour fitness center, gated resident parking garage with 525 parking spaces, package locker system for parcels, social lounge with kitchen and TVs, resort-style pool with lounge seating and a hot tub and an outdoor courtyard with games. The Sawyer on Lincoln was fully occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilySoutheastTennessee

Kolter Multifamily Breaks Ground on 300-Unit Alton Nexus Apartments in Gallatin, Tennessee

by John Nelson

GALLATIN, TENN. — Kolter Multifamily LLC, along with its affiliates, has broken ground on Alton Nexus, a 300-unit apartment community in Gallatin, a Middle Tennessee city approximately 30 miles northeast of Nashville. The project represents the first apartment development outside of Florida for Kolter Multifamily, a subsidiary of Delray Beach, Fla.-based The Kolter Group. Alton Nexus will feature a mix of one-, two- and three-bedroom apartments, as well as a resort-style swimming pool with outdoor firepits, clubroom with a bar, coworking spaces and a fitness center with a yoga studio. The project is part of the Nexus master-planned development that features a business park, shops and restaurants. Kolter Multifamily expects to deliver Alton Nexus in winter 2026.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsKansasMidwestMultifamily

Berkadia Arranges Sale of 448-Unit Multifamily Property in Suburban Kansas City

by Kristin Harlow

OVERLAND PARK, KAN. — Berkadia has arranged the sale of The Highlands, a 448-unit multifamily property in the Kansas City suburb of Overland Park. The community features one-, two- and three-bedroom units with two saltwater pools, a fitness center, renovated clubhouse and business center. Jason Parr, Scott MacDonald, John Hansen, Michael Spero and Niko Vrentas of Berkadia represented the seller, California-based St. Regis Properties LLC, and the buyer group, which acquired the property through San Francisco-based sponsor Hamilton Zanze & Co. Clay Akiwenzie of Berkadia arranged $53.3 million in permanent acquisition financing on behalf of the buyer. Fannie Mae provided the 10-year loan.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMinnesotaMultifamily

Colliers Brokers Sale of Two Multifamily Properties in Metro Minneapolis for $15.9M

by Kristin Harlow

ANOKA AND CRYSTAL, MINN. — Colliers has brokered the sale of two multifamily properties in Minnesota for $15.9 million. Meadowview totals 60 units and is located in Anoka, a northern suburb of Minneapolis. Valley Place Apartments totals 71 units and is located in Crystal, about five miles north of downtown Minneapolis. Devon Dvorak, Mox Gunderson, Dan Linnell and Adam Haydon of Colliers represented the seller, Bader Management Inc. Los Angeles-based Coast View Strategies was the buyer. Since 2015, ownership has invested more than $2 million renovating most of the units. At the time of sale, both properties were more than 95 percent leased.

Continue Reading
FacebookTwitterLinkedinEmail
Millennium-Village-Garland
DevelopmentLoansMultifamilyTexas

Dwight Capital Provides $35.2M HUD-Insured Construction Loan for Metro Dallas Multifamily Project

by Taylor Williams

GARLAND, TEXAS — New York City-based Dwight Capital has provided a $35.2 million HUD-insured construction loan for Millennium Village, a 199-unit multifamily project that will be located in the northeastern Dallas suburb of Garland. The market-rate property will consist of four residential buildings and a parking garage on a 4.5-acre site. Residences will comprise 17 studios, 132 one-bedroom units, 35 two-bedroom apartments and 15 two-bedroom townhome residences, each with private two-car garages. Amenities will include a clubhouse, fitness center, pool, rooftop lounge with an outdoor deck, electric vehicle charging stations and a dog park. Brandon Baksh and Brian Yee of Dwight originated the debt through HUD’s 221(d)(4) program on behalf of the local developer, Pinnacle Facility Engineering.

Continue Reading
FacebookTwitterLinkedinEmail
Mi-Place-@-West-Rancocas
AcquisitionsMultifamilyNew JerseyNortheast

Marcus & Millichap Brokers $33.6M Sale of Southern New Jersey Apartment Complex

by Taylor Williams

MOUNT HOLLY, N.J. — Marcus & Millichap has brokered the $33.6 million sale of Mi-Place @ West Rancocas, a 108-unit apartment complex in the Southern New Jersey community of Mount Holly. The property comprises 96 apartments and 12 two-story townhouses, each with an attached garage. Amenities include a clubhouse with a resident lounge, fitness center, game room, pool and a dog park. Chez Eider and Andrew Townsend of Marcus & Millichap represented the seller, Fernmoor Homes, in the transaction. The buyer was Universe Holdings.

Continue Reading
FacebookTwitterLinkedinEmail
7833-Ventura-Canyon-Ave-Panorama-City-CA
CaliforniaLoansMultifamilyWestern

MMCC Arranges $13.5M in Refinancing for Two Multifamily Properties Near Los Angeles

by Amy Works

PANORAMA CITY AND HAWTHORNE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $13.5 million in refinancing for two multifamily properties in Panorama City and Hawthorne. Michael Derk of MMCC secured the agency financings on behalf of a private client. MMCC secured a 10-year, $7 million loan with full-term interest-only payments at 5.67 percent and a loan-to-value ratio of 50 percent for Canyon Crest Apartments. Located at 7833 Ventura Canyon Ave. in Panorama City, Canyon Crest features a mix of one-, two- and three-bedroom units, a spa, swimming pool, fitness center, parking garages, a dog park and picnic area. MMCC arranged a 10-year, $6.5 million loan with full-term interest-only payments at a rate of 5.9 percent and a loan-to-value ratio of 65 percent for Hawthorne Chateau Apartments. Located at 3505 W. 139th St. in Hawthorne, the property offers a mix of one- and two-bedroom apartments, laundry facilities, a fitness center and an underground gated parking garage.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaMultifamilyWestern

Highstreet Ventures Buys 17.8-Acre Multifamily Development Site in Buckeye, Arizona

by Amy Works

BUCKEYE, ARIZ. — Canada-based Highstreet Ventures has acquired a 17.8-acre parcel adjacent to Summit Community Church, which is located at 20555 W. Roosevelt St. in Buckeye, for $9.3 million. Highstreet Ventures plans to develop a 510-unit multifamily property on the site. The proposed three-story community will offer 144 studio units, 150 one-bedroom units and 216 two-bedroom layouts, as well as a clubhouse and pool. Michael Farrar and Art Rullo of Marcus & Millichap’s Phoenix office represented the buyer, while Bret Rinehart and Wesley Campbell of Land Advisors Organization represented the seller, Summit Community Lutheran Church, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts