Friday, December 26, 2025
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Multifamily

AcquisitionsIllinoisMidwestMultifamily

Standard, Vistria Group Buy Fox Valley Villages Apartment Community in Aurora, Illinois for $93.2M

by Kristin Harlow

AURORA, ILL. — Standard Real Estate Investments LP and The Vistria Group LP have acquired Fox Valley Villages, a 420-unit apartment community in Aurora, for $93.2 million. The buyers plan to preserve long-term affordability for more than half of the apartments in the community. With this acquisition, Standard and Vistria jointly own 836 units in the Aurora/Naperville submarket. Situated on 21 acres, Fox Valley Villages includes 18 three-story buildings as well as a freestanding clubhouse, fitness center and maintenance garage. Additional amenities include two pools, a soccer field, dog park and barbecue areas. The property features 208 one-bedroom units and 212 two-bedroom residences and is 97 percent occupied. Standard and Vistria plan to invest more than $8 million in building improvements and renovations.

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IndianaLoansMidwestMultifamily

KeyBank Arranges $57M Loan for Refinancing of Multifamily Property in Carmel, Indiana

by Kristin Harlow

CARMEL, IND. — KeyBank Real Estate Capital (KBREC) has arranged a $57 million fixed-rate loan with a national life insurance company for the refinancing of The Steadman Apartment Homes, a newly completed multifamily property in the Indianapolis suburb of Carmel. The loan proceeds will be used to refinance outstanding construction debt. Completed in 2024, the property was 60 percent leased as of March 2025. The Steadman features 263 units, with floor plans averaging 1,007 square feet. Amenities include a fitness center, coworking and conference rooms, a pet spa, community lounge, game lounge, golf simulator, dog park, rooftop lounge, pool, outdoor courtyard and coffee bar. Indianapolis-based Cityscape Residential was the borrower. Samantha Miller and Greg Halvorson of KBREC arranged the financing.

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Affordable HousingDevelopmentMidwestMinnesotaMultifamily

Lupe, Wall Cos. Break Ground on 95-Unit Affordable Housing Project in Minneapolis

by Kristin Harlow

MINNEAPOLIS — Lupe Development and Wall Cos. have broken ground on a new affordable housing community in the Hiawatha neighborhood of Minneapolis. The four-story, 95-unit building will rise on the site of a former City of Minneapolis Public Works maintenance and storage facility. Named Snelling Yards, the development will feature generously sized units for families earning 30 to 80 percent of the area median income, with 13 units reserved for veterans experiencing homelessness. The building will share amenities with The Hillock, the neighboring, 100-unit active adult community managed by Ecumen. Completion of Snelling Yards is slated for fall 2026. The project received funding from the city, Hennepin County and Minneapolis Public Housing Authority. Allianz Investment Management provided tax-exempt bond financing and a construction bridge loan. R4 Capital is the low-income housing tax credit investor.

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LoansMultifamilyNew YorkNortheast

Affinius Capital Funds $46M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital has funded a $46 million loan for the refinancing of The Dome at 210 Greenpoint, a 70-unit apartment building in Brooklyn. The property offers studio, one-, two- and three-bedroom units along with 6,200 square feet of retail space. According to StreetEasy, amenities include a fitness center, rooftop deck, bike room, package room and onsite laundry facilities. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, New York-based developer The Jay Group, which will also use proceeds to fund leasing costs.

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LoansMultifamilyNew YorkNortheast

Greystone Provides $30M in Agency Financing for Apartment Building in Manhattan

by Taylor Williams

NEW YORK CITY — Greystone has provided $30 million in Freddie Mac financing for Sloane Chelsea, a 266-unit apartment building in Manhattan. Originally built in 1930 and renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units and amenities such as a fitness center, laundry facilities and private storage space. Recent upgrades to the property include renovations to 180 units and a planned elevator modernization. Robert Meehan led the transaction for Greystone. The borrower was not disclosed.

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DevelopmentMassachusettsMultifamilyNortheast

Nauset Construction Completes 49-Unit Multifamily Project in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — Locally based general contractor Nauset Construction has completed a 49-unit multifamily project in Cambridge, located across the Charles River from Boston. Designed by Piatt Associates, 605 Concord at Fresh Pond is a six-story building that offers a mix of studio, one-, two- and three-bedroom units ranging in size from 419 to 1,238 square feet, as well as 2,500 square feet of retail space. The developer is an entity doing business as Acorn Holdings LLC. Rents start at $2,800 per month for a studio apartment.

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Balfour-at-Littleton
FeaturesSeniors Housing

Strong Fundamentals, Low Supply Drive Deal Volume in Seniors Housing Sector

by Hayden Spiess

By Hayden Spiess Seniors housing industry players have contended with their fair share of challenges over the past couple of years, along with the commercial real estate sector on the whole. Elevated interest rates have continued to complicate investment activity, and increasing costs have impacted all aspects of the senior living landscape, especially development.  Given the robust demographics driving the industry though, some of these same challenges have helped fuel its recovery. For instance, depressed levels of development activity are driving down vacancy and generating interest in existing senior living properties. Brokers active in the seniors housing subsector have observed a strong revival of transaction volume and are optimistic for the coming years.  Nine of these brokers weighed in and shared their perspective on today’s landscape. Participants included Allison Irwin, vice president, mergers & acquisitions at Evans Senior Investments; Cindy Hazard, president of JCH Senior Housing Investment Brokerage; Dave Fasano, managing director at Berkadia Seniors Housing & Healthcare; Josh Jandris, vice chair and co-head, national seniors housing capital markets at Cushman & Wakefield; Jay Jordan, co-founder of Continuum Advisors; Rob Reis, senior managing director of investments and director of senior housing at Marcus & Millichap; Ryan Saul, senior managing director of …

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Affordable HousingDevelopmentLoansMarylandSeniors HousingSoutheastWalker & Dunlop

Walker & Dunlop Secures $40.5M Construction Financing for Affordable Seniors Development in Metro D.C.

by John Nelson

HYATTSVILLE, MD. — Walker & Dunlop has secured $40.5 million in debt and equity for the construction of The Highlands, an affordable seniors housing development in Hyattsville, about seven miles east of downtown Washington, D.C. The borrower is a partnership between Community Housing Initiative Inc. and First Baptist Church of Highland Park. P.J. McDevitt of Walker & Dunlop originated the debt, which comprised an unfunded forward Freddie Mac TEL that Walker & Dunlop will service. The permanent loan is structured as a 30-month forward commitment with a 15-year term and 40-year amortization schedule. Macy Kisilinsky of Walker & Dunlop arranged the debt placement and equity syndication, a $12.3 million 4 percent LIHTC equity investment with United Bank. Prince George’s County Housing Investment Trust Fund and the Maryland Department of Housing and Community Development will provide additional subordinate financing. Situated on the First Baptist Church of Highland Park campus, The Highlands will feature one- and two-bedroom apartments that will be restricted to tenants age 62 and older. Five units will be reserved for households at 50 percent of the area median income (AMI) while the remaining 132 units will be restricted at 60 percent of AMI. Planned amenities include a dog …

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CaliforniaDevelopmentMultifamilySeniors HousingWestern

CCI to Develop Livelle Mulholland Seniors Housing Property in Woodland Hills, California

by Amy Works

WOODLAND HILLS, CALIF. — CCI is slated to break ground in second-quarter 2026 for the development of Livelle Mulholland, a seniors housing property in Woodland Hills. Located at the corner of Mulholland Drive and Valmar Road, Livelle Mulholland will feature more than 200 independent living apartments, seven villas, 16 assisted living apartments and 13 memory care units. Community amenities will include a wellness center with fitness and therapy pools, natural trails and outdoor game courts, underground and attached garage parking, a gourmet restaurant, wine bar/rooftop lounge, indoor and outdoor theaters and classrooms. LCS will manage the property, which is slated to open in the second half of 2028. Project partners include Perkins Eastman as architect, KPFF as engineer, Envicom as environmental and land planner, LRM as landscape architect, Carlberg Associates as horticulturist and Brenner Consulting Group as permit administrator.

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AcquisitionsCaliforniaMultifamilySeniors HousingWestern

SLIB Brokers Sale of 132-Unit Seniors Housing Community in Brentwood, California

by Amy Works

BRENTWOOD, CALIF. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, Calif., the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the unnamed seller has exited the space. Brad Goodsell, Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB handled the transaction. 

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