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Multifamily

Landing-Saddlerock-Wenatchee-WA
AcquisitionsLoansMultifamilyWashingtonWestern

Graystoke Receives $16.9M Acquisition Loan for The Landing at Saddlerock Multifamily Property in Wenatchee, Washington

by Amy Works

WENATCHEE, WASH. — Graystoke Capital Partners has received $16.9 million in acquisition financing for The Landing at Saddlerock, a garden-style apartment property located at 1105 Red Apple Road in Wenatchee, approximately midway between Seattle and Spokane. Tony Nargi and Brock Knapp of JLL’s debt advisory team originated the seven-year, fixed-rate, near-stabilization. Fannie Mae loan, which JLL Real Estate Capital will service. Formerly known as Eleven01 at Saddlerock, The Landing at Saddlerock features 84 one-, two- and three-bedroom units featuring quartz countertops, stainless appliances and nine-foot ceilings. Community amenities include a leasing office, dog run, gazebo, gas grills and access to local trail systems. At the time of sale, the property was 82 percent occupied and 85 percent leased. The community opened in December 2023. Fortified Property Solutions, Graystoke’s integrated property management company, will manage the asset. The seller and price were not disclosed.

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DevelopmentIllinoisMidwestMultifamily

Wingspan Development Begins Preleasing Efforts for The Dawson Apartment Complex in Suburban Chicago

by Kristin Harlow

MOUNT PROSPECT, ILL. — Wingspan Development Group has begun pre-leasing efforts for The Dawson, a seven-story apartment complex in the Chicago suburb of Mount Prospect. The transit-oriented development is located across the street from the Mount Prospect Metra station as well as Wingspan’s Maple Street Lofts. The Dawson offers 64 units ranging in size from 668 to 1,217 square feet. Monthly rents start at $2,000. First residents are expected to move in later this summer. Amenities include a resident lounge with complimentary coffee station, community kitchen, package room, indoor parking, bike storage and a fitness center. A second-floor outdoor terrace includes a grilling area, fire pits and seating options. The design team included Studio 222 Architects, Eleni Interiors and Gold + Oak.

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Affordable HousingDevelopmentLoansMultifamilyNortheastPennsylvania

Berkadia Arranges $12.8M in LIHTC Equity Financing for Affordable Housing Project in Annville, Pennsylvania

by Taylor Williams

ANNVILLE, PA. — Berkadia has arranged $12.8 million in Low-Income Housing Tax Credit (LIHTC) equity financing for Carmany Place Apartments, a 48-unit affordable housing project in Annville, an eastern suburb of Harrisburg. The property will consist of three buildings with 30 two-bedroom units and 18 three-bedroom units that will be reserved for households earning between 20 and 80 percent of the area median income. Brian Blanchard of Berkadia secured the equity on behalf of the sponsor, Völker Development. Fulton Bank purchased the tax credits and also provided construction debt for the project.

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Landmark By Hillwood, Denton, Texas
DevelopmentHospitalityMixed-UseMultifamilyRetailTexasTop Stories

Hillwood Plans 3,200-Acre Landmark by Hillwood Mixed-Use Development in Denton, Texas

by Jeff Shaw

DENTON, TEXAS — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 multifamily units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land holdings purchased by the Perot family in 1987. The property encompasses Pilot Knob Hill, the highest point in Denton, according to Hillwood. Once completed, Landmark by Hillwood will offer 1,100 acres of park and open space, including Pilot Knob Hill, as well as an interconnected trail system, recreation areas and public parks. Hillwood also plans to construct a series of learning parks, which aim to promote nature education and engagement and will be open to the public. Hillwood plans to break ground on the first phase of the project this September. Phase I will comprise 747 single-family lots, with models slated to open in spring 2026. Planning and leasing are already underway …

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Alder-at-The-Grove-Austin
DevelopmentMultifamilyTexas

High Street Residential Completes 276-Unit Multifamily Project in Austin

by Taylor Williams

AUSTIN, TEXAS — Developer High Street Residential has completed Alder at The Grove, a 276-unit multifamily project located within The Grove master-planned community in Austin. The first phase, the 373-unit Korina at The Grove, was completed in March 2022. Alder at The Grove features studio, one-, two- and three-bedroom floor plans that range in size from 400 to 3,600 square feet. Amenities include a pool, fitness center, clubroom, resident lounge, coworking space and outdoor grilling and dining stations. JHP Architecture designed the project, with interiors by Britt Design Group. Andres Construction served as the general contractor. Rents start at roughly $1,225 per month for a studio apartment.

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DevelopmentFloridaMultifamilySoutheast

H&R REIT, Urban-X Receive Approval for 28-Story MidRiverVu Apartment Tower in Miami

by John Nelson

MIAMI — Canada-based H&R REIT and Miami-based Urban-X Group have received approval from the City of Miami’s Planning, Zoning and Appeals Board for MidRiverVu, a 28-story apartment tower. The 475-unit, market-rate community will be situated on a 2-acre site at 1411 N.W. North River Drive in Miami’s MidRiver district, which is west of the downtown area. The property represents an expansion of the River Landing Special Area Plan (SAP) as it will be located directly north of the existing River Landing Shops & Residences, also owned by the REIT and co-developed with Urban-X.  Sustainable features of MidRiverVu will include rain gardens, intensive and passive green roofs and decks and blue-green systems to control and slow runoff. The construction timeline and planned amenities for the tower were not disclosed.

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AcquisitionsMultifamilySoutheastTennessee

Lion Real Estate Group Acquires 312-Unit Bradford Woods Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.

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DevelopmentMultifamilyNew YorkNortheast

Skyline Developers Tops Out 97-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — New York City-based Skyline Developers has topped out a 97-unit multifamily project at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the building rises 25 stories and spans 152,000 square feet, including 10,000 square feet of amenities and 5,265 square feet of retail space. Construction began in mid-2023, and delivery is slated for 2025. Goldman Sachs financed construction of the project.

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Millennium-PQ-San-Diego-CA
AcquisitionsCaliforniaMultifamilyWestern

Dinerstein Cos. Sells Millennium PQ Multifamily Community in San Diego for $167M

by Amy Works

SAN DIEGO — The Dinerstein Cos. has completed the disposition of Millennium PQ, a multifamily property located in San Diego’s Rancho Penasquitos neighborhood, to GID Real Estate Investments for $167 million, or $504,532 per unit. Millennium PQ features 331 apartments with high-end finishes and resort-style amenities in a low-density, garden-style setting. Hunter Combs led the Walker & Dunlop investment sales team that represented the seller and buyer in the transaction.

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Rancho-Hills-Apts-Vista-CA
AcquisitionsCaliforniaMultifamilyWestern

Gelt Venture Partners Buys Rancho Hills Apartments in Vista, California for $53.5M

by Amy Works

VISTA, CALIF. — Gelt Venture Partners has purchased Rancho Hills Apartments in Vista, approximately 40 miles north of San Diego. An undisclosed party sold the asset for $53.5 million. The 148-unit apartment community is located at 856 Heatherwood Lane. Built in 1986, the garden-style property features 10 two-story buildings on 7.3 acres. The community includes a mix of 56 one-bedroom units and 92 two-bedroom units with floor plans ranging from 553 square feet to 909 square feet. Recently upgraded apartments include washers/dryers, quartz countertops, stainless steel appliances and private balconies/patios. On-site amenities include a clubhouse, fitness center, pool, spa and a gas barbecue area. Rachel Parsons, Derrek Ostrzyzek and Mike Murphy of CBRE represented the buyer and seller in the deal.

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