Sunday, June 15, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

The-Ellery-Manhattan
DevelopmentMultifamilyNew YorkNortheast

Taconic Partners, NREA Underway on 330-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — A partnership between Taconic Partners and National Real Estate Advisors is underway on construction of The Ellery, a 330-unit multifamily project in Midtown Manhattan. Designed by Handel Architects, The Ellery will consist of two interconnected buildings that will rise 32 and seven stories at 312 W. 43rd St. Units will come in studio, one- and two-bedroom floor plans. The Ellery will feature 28,000 square feet of indoor and outdoor amenity space, including a rooftop pool, as well as 42,000 square feet of retail space across two floors. The development team most recently completed construction of the façade, but a timeline for full completion was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew YorkNortheastStudent Housing

Charney Cos., Criterion Real Estate Acquire Student Housing Property in Manhattan

by Taylor Williams

NEW YORK CITY — A joint venture between Charney Cos. and Criterion Real Estate Capital has acquired 99 Claremont Avenue, a student housing property located in the Morningside Heights neighborhood of Manhattan. The seven-story building was originally constructed in 1932. The seller and sales price were not disclosed. Madison Realty Capital provided a $55 million bridge loan for the acquisition, and the new ownership plans to use a portion of the proceeds to renovate the property.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Arranges $3.6M Sale of Northern New Jersey Apartment Complex

by Taylor Williams

WOOD-RIDGE, N.J. — Locally based brokerage firm Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit apartment complex in the Northern New Jersey community of Wood-Ridge. The undisclosed seller originally developed the property, which according to Apatments.com exclusively offers one-bedroom units, in 1977. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Lawrence
FeaturesStudent Housing

Strong Rent Growth, Stabilizing Interest Rates Could Spur More Student Housing Transactions in 2024

by Katie Sloan

Student housing’s strong occupancy rates and rent growth stand out as a bright spot when compared with the rest of commercial real estate sectors, many of which turned in a lackluster performance over the past year. Student housing rental rates at the nation’s top 175 universities increased an average of nearly 8 percent in the 2022-2023 academic year while occupancy in the fall of 2023 was 150 basis points higher than the average occupancy rate over the five preceding falls, according to Berkadia’s 2023 Student Housing Pipeline Report.  Pre-leasing heading into the 2024-2025 academic year surpassed 40 percent in December, according to RealPage, and observers expect effective rents to increase an average of around 10 percent compared to around 9 percent in the 2023-2024 period. Meanwhile, fewer lenders are willing to provide construction financing, which is slowing the development pipeline. Developers could add 48,000 beds in 2024, an increase of 11 percent over 2023, but new supply is projected to decline steeply to 28,190 beds in 2025, Berkadia reports. Those metrics, along with growing enrollment at many top universities, are fueling student housing investment demand. The problem, of course, is that student housing faces the same challenges as other property categories …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsLouisianaMultifamilySoutheast

Colliers Arranges Sale of 360-Unit Apartment Community in Metro New Orleans

by John Nelson

HARVEY, LA. — Colliers has arranged the sale of The Waters at Manhattan, an apartment community located in Harvey, approximately seven miles outside of downtown New Orleans. Developed in 2022 by the seller, Stoa Group, the property comprises 360 units. New York-based Four Corners Development Group acquired the community for an undisclosed price. Albert Elmore of Colliers led a team that represented both the buyer and seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Sawyers-Mill-Arlington
AcquisitionsMultifamilyTexas

GREA Arranges Sale of 133-Unit Sawyers Mill Apartments in Arlington

by Taylor Williams

ARLINGTON, TEXAS — GREA, a multifamily brokerage firm with a dozen offices around the country, has arranged the sale of Sawyers Mill, a 133-unit apartment complex in Arlington. Built in 1969, Sawyers Mill offers one- and two-bedroom units and amenities such as two pools, a business center, outdoor grilling and dining stations and onsite laundry facilities. Mark Allen led the GREA team that brokered the deal. The buyer and seller were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
40-Bruckner-Blvd.-Bronx
DevelopmentMultifamilyNew YorkNortheast

JCS Realty Underway on 365-Unit Multifamily Project in The Bronx

by Taylor Williams

NEW YORK CITY — Developer JCS Realty is underway on construction of Bruckner House, a 365-unit multifamily project in The Bronx. The site is located at 40 Bruckner Blvd. in the Mott Haven neighborhood on the borough’s south side. Bruckner House offers studio, one- and two-bedroom units and amenities such as a fitness center, coworking areas, a movie theater and a rooftop pool and lounge area. Project partners include S9 Architecture and EP Engineering.

Continue Reading
FacebookTwitterLinkedinEmail
Atrium-Court-Apts-Seattle-WA
Affordable HousingDevelopmentLoansMultifamilyWashingtonWestern

Amazon Housing Equity Fund Provides $139.6M in Financing for 11 Affordable Housing Communities in Washington

by Amy Works

BELLEVUE, KIRKLAND, SEATAC AND SEATTLE, WASH. — JLL Capital Markets and JLL Public Institutions have arranged $139.6 million in financings from The Amazon Housing Equity Fund over the last six months. The loans are for the development and preservation of 11 affordable housing communities, totaling 1,970 units, spread across the Puget Sound region of Washington State. JLL acted as the credit underwriter for Amazon, which provided long-term, fixed-rate loans for nine separate borrowers. Through Amazon Housing Equity Fund, Seattle-based tech giant Amazon provided low-rate subordinate financing to carry out the acquisition, construction and rehabilitation of the properties and assure that the properties will deliver high-quality housing and 99-year income rent restrictions. The properties included in the financing are: C.W. Early, Mary Davis and David Lott of JLL Capital Markets Debt Advisory worked with Amazon to underwrite and structure the transactions, while Martine Combal and Eileen Tumalad of JLL’s Public Institutions will focus on program management for Amazon.

Continue Reading
FacebookTwitterLinkedinEmail
Alexan-Pena-Station-Denver-CO
ColoradoDevelopmentLoansMultifamilyWestern

Berkadia Structures $81.2M in Joint Venture Equity for Alexan Pena Station Apartment Development in Denver

by Amy Works

DENVER — Berkadia has arranged $81.2 million in joint venture equity for Trammell Crow Residential (TCR) for the development of Alexan Pena Station, a multifamily development project in Denver. Cody Kirkpatrick, Chinmay Bhatt and Noam Franklin of Berkadia JV Equity & Structured Capital represented the sponsor, TCR, to arrange the joint venture equity partnership. Berkadia secured the equity through MBK Rental Living, a privately held real estate investment and development firm. Located on the northeast side of Denver, Alexan Pena Station will feature 578 one-, two- and three-bedroom apartments, with an average unit size of 976 square feet, spread across 12 buildings. The community will offer 46 affordable units for individuals earning up to 60 percent of the area median income. Alexan Pena Station will be built over two phases on a 20-acre site with more than 725 parking spaces.

Continue Reading
FacebookTwitterLinkedinEmail
Hadley-North-Scottsdale-AZ
AcquisitionsArizonaMultifamilyWestern

IPA Brokers Sale of 240-Unit Multifamily Community in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Hadley North Scottsdale, a midrise apartment property in the Phoenix suburb of Scottsdale. Completed in 2014, The Hadley North Scottsdale features 240 apartments with nine-foot ceilings, wood-style plank flooring, full-size washers/dryers, large walk-in closets and private patio or balconies. The average unit size is more than 1,000 square feet. Community amenities include a resort-style heated pool and a clubhouse with a conference room and workstations. Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. The acquisition price was not released.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts