Wednesday, November 19, 2025
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Multifamily

DevelopmentFloridaSoutheastStudent Housing

Toll Brothers, CanAm Capital Complete 1,086-Bed Student Housing Community Near Florida International University

by John Nelson

MIAMI — A joint venture between Toll Brothers Campus Living and CanAm Capital Partners has completed Lapis, a 1,086-bed student housing development located adjacent to the Florida International University campus in Miami. The 20-story community spans more than 763,500 square feet and offers units in one-, two-, three-, four- and five-bedroom configurations. Shared amenities include a club room, indoor/outdoor fitness center, saltwater swimming pool, coffee bar, private study and group meeting rooms and a rooftop amenity deck with a Jumbotron and grilling stations. The design team for the development included Mary Cook Associates and Humphreys & Partners Architects. The community welcomed first residents in fall 2023.

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DevelopmentMultifamilySouth CarolinaSoutheast

Beach Co. Breaks Ground on The Charles Residential Development in Charleston

by John Nelson

CHARLESTON, S.C. — The Beach Co. has broken ground on The Charles, a boutique multifamily community located at the corner of Broad and Barre streets in Charleston. The property will feature 15 three-story townhomes, eight apartment flats and a half-acre park overlooking the Ashley River and Safe Harbor City Marina. The townhomes will feature two- and three-bedroom layouts and will include private garages, 10- to 12-foot ceilings, soaking tubs, custom cabinetry, private balconies and private gardens. The design-build team includes Antunovich Associates, DesignWorks, Forsberg Engineering and Balfour Beatty. First Bank is providing an undisclosed amount of construction financing for the project. The Beach Co. plans to deliver The Charles in summer 2025.

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CaliforniaLoansMultifamilyWestern

BWE Arranges $224.7M in Financing for Six-Property Apartment Portfolio in Orange County

by Amy Works

ORANGE COUNTY, CALIF. — BWE has arranged $224.7 million in financing for a six-property, 1,192-unit multifamily portfolio in Orange County. Five properties in the portfolio were refinanced in order to secure equity for the acquisition of the sixth property, Regency Palms in Huntington Beach. Jason Krupoff and Doug Taylor of BWE’s Irvine office originated the loans on behalf of a long-term investor-operator of Orange County multifamily properties. One of BWE’s correspondent life companies provided financing for three of the properties, totaling $90.6 million in loan proceeds. The other three, including the acquisition, totaled $134 million through Fannie Mae. The six individual loans were all nonrecourse, permanent transactions with fixed rates. The loans have between five- and 10-year terms with 30-year amortization periods, with the agency loans having initial interest-only periods.

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AcquisitionsIllinoisMidwestMultifamily

Berkadia Brokers $38M Sale of 662-Unit Multifamily Property in Urbana, Illinois

by Kristin Harlow

URBANA, ILL. — Berkadia has brokered the $38 million sale of Town & Country, a 662-unit multifamily property in Urbana. Located at 1032 E. Kerr Ave., the garden-style community offers convenient access to the University of Illinois. Town & Country was built in phases between 1970 and 2007, and was 98 percent occupied at the time of sale. Ralph DePasquale of Berkadia represented the seller, Colorado-based Monarch Investment and Management Group. The buyer was Michigan-based MF Capital. The transaction also included an adjacent 52-unit self-storage facility.

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LoansMidwestMinnesotaMultifamilySeniors Housing

JLL Arranges $18.7M HUD-Insured Loan for Refinancing of Minnesota Senior Living Community

by Kristin Harlow

ELK RIVER, MINN. — JLL Capital Markets has arranged an $18.7 million HUD 232/223(f) loan for the refinancing of Elk River Senior Living. The 108-unit senior living community offers independent living, assisted living and memory care services in Elk River, about 34 miles northwest of Minneapolis. Built in 2018, the property offers amenities such as lounges, activity rooms, dining areas and outdoor courtyards. Jeff Lepley and Alex Sheaffer of JLL arranged the financing, which consolidated five different debt obligations that were associated with the construction of the project. The borrower was undisclosed.

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DevelopmentMidwestMultifamilyWisconsin

31-Story Luxury Apartment Tower to Open This Summer in Milwaukee’s Historic Third Ward

by Kristin Harlow

MILWAUKEE — Hines has launched leasing for 333 North Water Street in Milwaukee’s Historic Third Ward. The 31-story, 333-unit luxury apartment tower is slated to open in June. The project will feature ground-level retail space and 22,700 square feet of indoor and outdoor amenity spaces. Floor plans will come in a variety of options, including studio, convertible, one-, two-, three-bedroom and penthouse units. Monthly rents will start at $2,200. The property will feature direct access to Milwaukee’s Riverwalk System and proximity to public transportation.

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DevelopmentFloridaMixed-UseMultifamilySoutheast

ANF Group Tops Out $100M University Station Mixed-Use Development in South Florida

by John Nelson

HOLLYWOOD, FLA. — ANF Group has completed vertical construction at University Station, a $100 million mixed-use project in Hollywood, roughly 10 miles outside Fort Lauderdale. A public-private partnership between the City of Hollywood and Housing Trust Group (HTG) is the developer. Located at 421 N. 21st Ave., 309 N. 21st Ave. and 2031 Polk St., the development will comprise two residential towers and a standalone parking garage. Upon completion, the property will feature 216 apartments, more than 2,000 square feet of commercial space, 12,210 square feet of educational space for Barry University’s College of Nursing and Health Services and 635 parking spaces. More than half of the parking spaces (365) will serve the Broward Commuter Rail South Station that is planned between Tyler and Taylor streets along the Florida East Coast (FEC) Railway.  Apartments at the development, which will span 621 to 899 square feet in one- and two-bedroom layouts, will be reserved for residents earning between 22 and 80 percent of the area median income (AMI). Monthly rental rates for the units will range from $374 to $1,634. Amenities will include a fitness center, multipurpose room and a swimming pool. The project team includes civil engineer HSQ Group, structural …

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AcquisitionsDistrict of ColumbiaMultifamilySoutheast

Greysteel Arranges $48.1M Sale of Multifamily Portfolio in D.C.

by John Nelson

WASHINGTON, D.C. — Greysteel has arranged the $48.1 million sale of a portfolio spanning four multifamily properties in Washington, D.C. Greysteel represented the sellers, locally based real estate investors, in the separate transactions, which were completed through D.C.’s Tenant Opportunity to Purchase Act (TOPA). American Housing was the buyer. The properties include a 28-unit apartment building located at 3654 New Hampshire Ave. NW and a 43-unit apartment building located in Penn Quarter at 1126 11th St. NW, which sold for $6.6 and $8.5 million, respectively. The portfolio also includes Newton Towers, a 56-unit apartment building located in Columbia Heights at 1435 Newton St. NW and The Park Regent, a 96-unit apartment community situated at 1701 Park Road NW in Mount Pleasant. Newton Towers was sold for $13.1 million, and The Park Regent traded for $20 million.

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DevelopmentGeorgiaMultifamilySoutheast

Madison Communities Secures $35.5M Construction Financing for Multifamily Development in Savannah

by John Nelson

SAVANNAH, GA. — Madison Communities, the multifamily development affiliate of Madison Capital Group, has secured a $35.5 million loan for the construction of Madison Oglethorpe, a 240-unit, garden-style apartment community in Savannah. United Bank provided the financing. Forum Investment Group has also provided preferred equity for the development. Amenities at the community will include a clubhouse and lounge with coworking space, a fitness center, outdoor lounge, swimming pool, grilling stations and a fire pit. The project team includes architect SGA|NW and general contractor BenCo Construction, an affiliate of Madison Capital. Completion is scheduled for late 2025.

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AcquisitionsGeorgiaSeniors HousingSoutheast

CBRE Brokers Sale of 146-Unit Arbor Terrace Peachtree City Seniors Housing Community in Metro Atlanta

by John Nelson

PEACHTREE CITY, GA. — CBRE has arranged the sale of Arbor Terrace Peachtree City, a 146-unit independent living and assisted living community in Peachtree City, a suburb south of Atlanta. GEM Realty Capital purchased the asset for an undisclosed price. John Sweeny, Aron Will and Garrett Sacco of CBRE arranged the transaction on behalf of the undisclosed seller. Will and Michael Cregan, also with CBRE, secured a Freddie Mac acquisition loan on behalf of the buyer.

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