Tuesday, June 17, 2025
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Multifamily

AlabamaDevelopmentHospitalityMultifamilySoutheast

WaterWalk Opens 126-Room Extended Stay Hotel-Apartment Property in Huntsville, Alabama

by John Nelson

HUNTSVILLE, ALA. — WaterWalk has opened a 126-room extended stay hotel and apartment living property at 1550 Perimeter Parkway in Huntsville, the first Alabama property for the lodging brand and its 12th total. WaterWalk Huntsville comprises 76 fully furnished hotel rooms and 50 apartments that range in size from studios to two-bedroom units. All units feature kitchens with full-size appliances, a pantry and a kitchen island. Additionally, each unit features full-size washers and dryers, as well as bathrooms that include vanities with storage space and walk-in showers. Amenities include a lobby lounge, fitness center, outdoor pool and a patio with a fire pit, lawn games and grilling areas.

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AcquisitionsDevelopmentFloridaLoansMultifamilySoutheast

Kennedy Funding Provides $7.5M Acquisition Loan for Townhome Development Site in Santa Rosa Beach, Florida

by John Nelson

SANTA ROSA BEACH, FLA. — Kennedy Funding has provided a $7.5 million acquisition loan for a land site in Santa Rosa Beach, a city in Florida’s Panhandle. The parcel currently houses a nine-bedroom home that fronts the Gulf of Mexico. The borrower, an entity doing business as 4228 Dana Beach LLC, plans to develop a luxury townhome development on the site. The construction timeline was not disclosed. Based in Englewood, N.J., Kennedy Funding is a direct lender that provides short-term bridge loans ranging from $1 million to $50 million for land purchases, working capital and developments.

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CaliforniaDevelopmentMultifamilyWestern

Liberty National Acquires Development Site in San Diego for Apartment Tower Project

by Amy Works

SAN DIEGO — Liberty National Corp. has purchased a land site at 1520 and 1532 3rd Ave. in downtown San Diego for the development of a residential property. Terms of the transaction were not released. Liberty acquired the 22,484-square-foot site in December 2023 and plans to build a high-rise multifamily community on the site. The property will also offer a selection of affordable housing options.

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LoansMultifamilyTexas

Colliers Mortgage Provides Agency Acquisition Loan for 100-Unit Apartment Complex in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Colliers Mortgage has provided a Fannie Mae loan of an undisclosed amount for the acquisition of Northwood Apartment Homes, a 100-unit multifamily complex in Fort Worth. Built in 1972, the garden-style property consists of six two-story buildings and one clubhouse, as well as onsite laundry facilities and outdoor grilling and dining stations. Fritz Waldvogel of Colliers Mortgage originated the five-year loan through a partnership with Old Capital Lending. The borrower was not disclosed.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $8.5M Loan for Refinancing of Multifamily Asset in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Bernard Financial Group (BFG) has arranged an $8.5 million loan for the refinancing of a 334-unit multifamily property in Southfield. Dennis Bernard and David Ruff of BFG arranged the loan with Securian Life Insurance Co. Pine Aire Investors LLC was the borrower.

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LoansMidwestMinnesotaMultifamilySeniors Housing

Colliers Mortgage Provides $1.5M HUD-Insured Loan for Rehabilitation of Minnesota Seniors Housing Community

by Kristin Harlow

BURNSVILLE, MINN. — Colliers Mortgage has provided a $1.5 million HUD 241(a) loan for the rehabilitation of Parkway Cooperative of Burnsville. The 102-unit seniors cooperative property features one- and two-bedroom units. Amenities include laundry rooms, community areas, underground parking, an exercise facility, library, craft room and workshop. The loan features a 26.5-year term and amortization. Parkway Cooperative of Burnsville was the borrower.

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AcquisitionsGeorgiaMultifamilySoutheast

Cushman & Wakefield Arranges Sale of 303-Unit Multifamily Community in Smyrna, Georgia

by John Nelson

SMYRNA, GA. — Cushman & Wakefield has arranged the sale of Harlow, a newly constructed, 303-unit multifamily community located in Smyrna, roughly 15 miles northwest of Atlanta. RA Capital Partners acquired the property from the developer, South City Partners, for an undisclosed price. Situated in proximity to The Battery and Truist Park, home stadium of the MLB’s Atlanta Braves, the community features 6,000 square feet of activity and amenity space. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the seller in the transaction.

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AcquisitionsMultifamilyTexas

Reap Capital Buys 288-Unit Brookside Apartments in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Locally based private equity firm Reap Capital has acquired Brookside Apartments, a 288-unit multifamily community in Arlington. Brookside comprises 22 buildings that house one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining stations, a business center, playground, pet park and onsite laundry facilities. Wesley Racht, Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the undisclosed seller in the transaction and procured Reap Capital as the buyer.

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DevelopmentMultifamilyTexas

Developer Underway on 260-Unit Multifamily Project in West Houston

by Taylor Williams

HOUSTON — Developer Henry Richardson, founder and CEO of wellness concept Define Living, is underway on construction of a 260-unit multifamily project in West Houston. The site at 1888 Brittmoore Road spans six acres, and the four-story complex will house one- and two-bedroom units. Amenities will include a fitness center, business center, clubhouse and a bark park. Ted Trout Architect & Associates is designing the project, and Blazer Building is the general contractor. Preleasing is underway, and full completion is slated for the summer.

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LoansMultifamilyNew YorkNortheast

SCALE Lending Funds $46M Bridge Loan for Brooklyn Apartment Complex

by Taylor Williams

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has funded a $46 million bridge loan for Arris Grand, a 113-unit apartment building located at 982-998 Fulton St. in Brooklyn’s Clinton Hill neighborhood. Completed late last year, the nine-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, rooftop terrace and lounges, as well as 7,154 square feet of street-level retail space. Fogarty Finger designed Arris Grand. The undisclosed borrower will use the proceeds to retire existing construction debt and fund costs of lease-up.

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