Wednesday, November 5, 2025
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Multifamily

147-Columbia-Florham-Park-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Garden Communities Completes 126-Unit Apartment Complex in Florham Park, New Jersey

by Taylor Williams

FLORHAM PARK, N.J. — Locally based developer Garden Communities has completed 147 Columbia, a 126-unit apartment complex in the Northern New Jersey community of Florham Park. The site formerly housed an office building, and the redevelopment began in 2023. Units come in one- and two-bedroom floor plans and range in size from 861 to 1,535 square feet. Residences are furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Leasing began in March, at which time rents started at $2,600 per month for a one-bedroom apartment. Today, rents start at about $2,800 per month for a one-bedroom unit.

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AcquisitionsMultifamilyNew YorkNortheast

Adirondack Capital Partners Negotiates $7.9M Sale of Multifamily Property in Fayetteville, New York

by Taylor Williams

FAYETTEVILLE, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $7.9 million sale of Fayetteville Pines Townhomes, a 78-unit multifamily property located on the eastern outskirts of Syracuse. According to Apartments.com, the property was built in 1973 and houses one-, two- and three-bedroom units. Michael Hunter Coghill and Chad Sinsheimer of Adirondack represented the seller, DHM Properties, in the transaction and procured the undisclosed buyer.  

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Negotiates $9M Sale of Multifamily Property in St. Cloud, Minnesota

by Kristin Harlow

ST. CLOUD, MINN. — Marcus & Millichap has negotiated the $9 million sale of Sterling Heights, a 96-unit multifamily property in the Minneapolis suburb of St. Cloud. Built in 2002, the community totals 91,621 rentable square feet and offers studio, one-, two- and three-bedroom floor plans. Chris Collins, Evan Miller and Eric Wagner of Marcus & Millichap represented the seller, a Minnesota-based limited liability company, and procured the buyer, a Wisconsin-based limited liability company.

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LoansMidwestMultifamilyNorth Dakota

Bernard Financial Group Arranges $3M Loan for Refinancing of North Dakota Multifamily Community

by Kristin Harlow

WILLISTON, N.D. — Bernard Financial Group (BFG) has arranged a $3 million Freddie Mac loan for the refinancing of The Birches Townhomes in Williston, a city in western North Dakota. The 60-unit multifamily rental property was built in 2015. Joshua Bernard of BFG arranged the loan on behalf of the borrower, Birches Owner LLC.

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DevelopmentMultifamilyNew JerseyNortheastTop Stories

Kushner Nears Completion of $1B The Journal Luxury Apartment Development in Jersey City

by Kristin Harlow

JERSEY CITY, N.J. — Kushner is nearing completion of The Journal, a nearly $1 billion luxury apartment development in Jersey City’s Journal Square area. The project features two 64-story towers that are now topped out, and preleasing efforts are set to begin in early 2025. Kushner has selected Manhattan-based The Marketing Directors as the marketing and leasing agent for the property. Upon completion, The Journal will comprise more than 2 million square feet with 1,723 apartment units and 45,000 square feet of upscale amenity spaces. Target has leased the entirety of the development’s 40,000 square feet of ground-floor retail space. Positioned adjacent to the Journal Square PATH station, The Journal will provide convenient access to Manhattan. Residents will enjoy views of the Hudson River, Statue of Liberty, Ellis Island and the Manhattan skyline. Designed by global architectural firm Woods Bagot, The Journal is characterized by a slender, vertical profile. A nearly one-acre public plaza adorned with landscaping and seating areas will open onto John F. Kennedy Boulevard. Amenities at The Journal will encompass a wide array of health, wellness and recreational options, including an Olympic-size indoor pool, whirlpool spa, sauna, steam rooms, bowling alley, golf simulator and multiple lounges. The …

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The-Royalton-at-Discovery-Rockwall
AcquisitionsMultifamilyTexas

SWBC Real Estate Sells 295-Unit Royalton at Discovery Apartments in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Locally based developer SWBC Real Estate has sold The Royalton at Discovery, a 295-unit apartment community in Rockwall, approximately 25 miles northeast of Dallas. Completed in 2023, The Royalton at Discovery offers one-, two- and three-bedroom floor plans with an average size of 1,015 square feet. Select units feature direct access or detached garages. Amenities include a clubhouse, pool and cabanas, fitness center and an outdoor gaming center. Bonaventure acquired the property for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware and Taylor Hill of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.

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Affordable HousingDevelopmentMultifamilyTexas

LEDG Capital Completes $12M Renovation of Mixed-Income Community in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — LEDG Capital, an owner-operator of affordable and workforce housing properties, has completed the $12 million renovation of Southstead, a 244-unit mixed-income community in Lubbock. Built in phases in the 1970s, Southstead comprises 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the 244 units, 100 are rented at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital’s rehabilitation delivered new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months and extends Southstead’s affordability for another 30 years.

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Residences-at-Stevens-Pond-Saugus-Massachusetts
AcquisitionsMassachusettsMultifamilyNortheast

Waterton Buys 326-Unit Apartment Community in Saugus, Massachusetts

by Taylor Williams

SAUGUS, MASS. — Chicago-based investment firm Waterton has purchased Residences at Stevens Pond, a 326-unit community in Saugus, approximately 10 miles north of Boston. Constructed in 2003, Residences at Stevens Pond consists of 25 three-story residential buildings and a clubhouse building. The community features one-, two- and three-bedroom units, including apartments, lofts and townhomes. Amenities include a pool and spa, outdoor pavilion with fireplace, fitness center, arcade, indoor half-basketball court and a golf simulator. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Los Angeles-based investment firm JRK Property Holdings, in the transaction and procured Waterton as the buyer. The new ownership plans to renovate the unit interiors and common areas at the community. Planned updates include new quartz countertops, backsplashes and cabinets, as well as lighting and plumbing fixtures throughout.

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AcquisitionsMultifamilyNew YorkNortheast

GFI Realty Arranges $5.6M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm GFI Realty Services has arranged the $5.6 million sale of a 49-unit apartment building at 100 Fort Washington Ave. in Manhattan’s Washington Heights neighborhood. Constructed in 1930, the six-story building houses a mix of one-, two-, three-, four- and five-bedroom units. Zachary Fuchs and Matthew Sparks of GFI Realty represented the seller in the transaction, while Sparks also procured the buyer. Both parties were private investors.

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14798-SE-Parkland-Dr-Happy-Valley-OR
AcquisitionsMultifamilyOregonWestern

Cobalt Sells 180-Unit Sonder Fields Apartment Complex in Happy Valley, Oregon

by Amy Works

HAPPY VALLEY, ORE. — Cobalt has completed the disposition of Sonder Fields, a multifamily property located at 14798 SE Parkland Drive in Happy Valley. An undisclosed buyer acquired the asset for $58.2 million. Built in 2023, Sonder Fields offers 180 one-, two- and three-bedroom apartments with stainless steel appliances, Shaker cabinets, luxury vinyl plank flooring, Calcutta quartz countertops, deep basin kitchen sinks, under cabinet lighting, large kitchen islands, nine-foot ceilings and LATCH keyless entry. Onsite amenities include a 24-hour fitness center, dog park, clubhouse lounge, saltwater pool, hot tub, barbecue picnic areas and private coworking spaces. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Market’s Investment and Sales Advisory team represented the seller in the transaction.

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