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Multifamily

The-AJ-Sacramento-CA
CaliforniaDevelopmentMultifamilyWestern

USA Properties Fund Opens $130M Multifamily Community at The Railyards in Sacramento

by Amy Works

SACRAMENTO, CALIF. — USA Properties Fund, in partnership with LDK Ventures, has completed The A.J., a $130 million mixed-income apartment property within The Railyards in Sacramento. The apartment community is named after A.J. Stevens, a community leader and legendary Southern Pacific master mechanic who worked in The Railyards in the 1870s and 1880s. Stevens oversaw the building of Southern Pacific’s locomotives and retail cars in The Railyards. Today, The Railyards is an infill development that will include live entertainment, shops and restaurants, as well as a Kaiser Permanente medical center and a new soccer stadium for Sacramento Republic FC. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income, with stainless steel appliances, quartz countertops, two-tone cabinets, ceiling fans, rainfall showerheads and walk-in closets. Ground-floor apartments feature stained concrete floors while units on the other four floors will feature carpet and wood-plank floors. Apartments will also feature smart-lock access, smart thermostats and the ability to check on deliveries and visitors from screens in the units. Community amenities include a 24/7 fitness center; a sky lounge with a rooftop observation deck with fire tables, gas …

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Briarwood-Apts-Pueblo-CO
AcquisitionsColoradoMultifamilyWestern

Pinnacle Real Estate Advisors Brokers Sale of 60-Unit Briarwood Apartments in Pueblo, Colorado

by Amy Works

PUEBLO, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of Briarwood Apartments, a multifamily property located at 2026 Carlee Drive in Pueblo. The asset sold for $5.5 million, or $91,667 per unit. The property includes 60 units, plus an onsite manager house and workshop. Briarwood Apartments features 30 one-bedroom apartments and 30 two-bedroom units. Chris Knowlton of Pinnacle handled the transaction for both the undisclosed seller and undisclosed buyer.

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AcquisitionsMidwestMultifamilyNebraskaSeniors Housing

NHI Acquires Six-Property Seniors Housing Portfolio in Nebraska for $63.5M

by Kristin Harlow

NEBRASKA — National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million. The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options. Agemark operates the communities under the CountryHouse brand, which was established in 1997 exclusively for residents requiring personalized memory care.

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DevelopmentIndianaMidwestMultifamilyStudent Housing

LV Collective Breaks Ground on Two-Building Student Housing Project Near Purdue University

by Kristin Harlow

WEST LAFAYETTE, IND. — LV Collective has broken ground on Rambler Riverfront, a two-building student housing development near Purdue University in West Lafayette. The luxury project at 224 E. State St. is slated for completion in fall 2027. Plans for the 799,289-square-foot development include 583 units as well as retail space.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Mill Creek Begins Leasing 239-Unit Modera Liberty Row Apartments in Charlotte

by John Nelson

CHARLOTTE, N.C. — Mill Creek Residential has begun leasing Modera Liberty Row, a 239-unit apartment community located at 7740 Liberty Row Drive in Charlotte’s SouthPark neighborhood. The community will offer studio, one-, two- and three-bedroom options averaging 1,100 square feet in size. Monthly rental rates at Modera Liberty Row range from $1,950 to $4,500, according to the property website. Amenities will include a resort-style pool, fitness center with a yoga studio, four elevated courtyards, multiple clubrooms, game room, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa, bicycle storage, 24/7 self-serve package room and secured parking garages with EV charging stations. The two-building property is located on The Loop, a three-mile urban trail, and within close proximity to Piedmont Town Center, Phillips Place and SouthPark Mall. Mill Creek anticipates first move-ins at Modera Liberty Row in June.

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Cottage-Row-Stillwater
AcquisitionsMultifamilyStudent HousingTexas

Joint Venture Acquires 792-Bed Student Housing Community Near Oklahoma State University

by Taylor Williams

STILLWATER, OKLA. — A joint venture between Monument Square Investment Group and affiliates of Walton Street Capital has acquired Cottage Row Stillwater, a 792-bed student housing community located near the Oklahoma State University campus in Stillwater. Developed in 2013, the property offers 231 cottage-style units and townhomes in two-, three-, four- and five-bedroom configurations. Shared amenities include a recently renovated, 11,000-square-foot clubhouse with study rooms, entertainment spaces and a fitness center; resort-style pool and hot tub; grilling stations; green space; full-sized basketball and sand volleyball courts; and a putting green. The joint venture plans to implement several capital improvements at the property, including new exterior paint and enhancements to the pool deck. The seller and additional terms of the transaction were not released.

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The-Commons-at-Cottonwood-Creek-Waco
DevelopmentMultifamilyTexas

Parkspring to Develop 392-Unit Multifamily Project in Waco

by Taylor Williams

WACO, TEXAS — Texas-based Parkspring Multifamily will develop a 392-unit multifamily project within the Cottonwood Creek master-planned development in Waco. Commons at Cottonwood Creek will offer a mix of one- and two-bedroom apartment homes that will range in size from 754 to 1,028 square feet. Residences will feature stainless steel appliances, quartz countertops, wood-vinyl plank flooring, full-size washers and dryers, smart-home technology and private yards in select units. Amenities will include a resident clubhouse with a kitchen, coffee bar, pool table, golf simulator and TVs; a business center with private conference rooms and coworking spaces; a resort-style pool with tanning ledges; a fully equipped athletic club; outdoor kitchen areas; and an onsite dog park. EDI International is the project architect, and OHT Partners is the general contractor. Construction will begin this month and is expected to be complete in mid-2027. NewQuest is the master developer of Cottonwood Creek.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Kane Realty Breaks Ground on 20-Story Multifamily High-Rise in Raleigh’s North Hills District

by John Nelson

RALEIGH, N.C. — Kane Realty Corp. has broken ground on The Strand, a new 20-story apartment high-rise in Midtown Raleigh’s North Hills district. The multifamily tower, which will feature 362 apartments and 9,000 square feet of retail space, will be situated adjacent to the recently sold Advance Auto Parts Tower. The Strand will comprise studio, one-, two- and three-bedroom apartments, as well as top-floor penthouses. The community will also feature an amenity deck on the sixth floor that will include a resort-style pool, grilling area, activity lawn, fitness center and club room, as well as a clubroom on the 18th floor and a speakeasy on the top level that is exclusive for penthouse residents. The project team includes development partner Mitsui Fudosan America, architect Rule Joy Trammell + Rubio, general contractor Balfour Beatty and civil engineer McAdams. Kane Realty plans to welcome first residents at The Strand in summer 2027. The locally based development and management firm is also underway on planning for Phase II of the site.

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FloridaLoansLouisianaSouth CarolinaSoutheastStudent Housing

JLL Secures Refinancings for Three Southeast Student Housing Communities Totaling $134.9M

by John Nelson

TAMPA, FLA. — JLL Capital Markets has secured refinancings totaling a combined $134.9 million for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 fully furnished units in two-, three-, four- and six-bedroom configurations. Shared amenities include a rooftop pool, fitness center, study lounges and secured garage parking.  Weaver and Quinn, along with Kenny Cutler, Rob Rothaug and Cristian Sieman of JLL, also secured a $22 million refinancing for Preserve at Tech near Louisiana Tech University in Ruston, La. Prime Finance provided the two-year, floating-rate loan to borrower RISE: A Real Estate Co. Completed in 2021 at 1913 West Alabama Ave., the community offers 588 beds across 168 units in three- and four-bedroom configurations. Shared amenities include a resort-style pool, 24-hour clubhouse, computer lab, fitness center and a gaming lounge.  JLL also worked on …

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AcquisitionsDevelopmentMultifamilyNorth CarolinaSoutheast

Cushman & Wakefield Brokers Sale of Multifamily Development Site in Asheville, North Carolina

by John Nelson

ASHEVILLE, N.C. — Cushman & Wakefield has brokered the sale of an eight-acre multifamily development site in Asheville. Atlanta-based Shelton McNally Real Estate Partners purchased the shovel-ready site from Golden Hour Collective with plans to develop a new 210-unit apartment community. Alex Phillips, Battle Smith, Alex McDermott and Sparling Davis of Cushman & Wakefield’s Sunbelt Multifamily Advisory Group represented Golden Hour in the land deal. Specific plans and construction timelines for the development were not released. The site is located within Overlook at Ashville, a 98.8-acre master-planned community that is approved for the 210 apartments, as well as 130 build-to-rent townhomes and up to 176 duplex units. The development is situated on a sloping mountainside within a few miles of downtown Asheville.

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