Multifamily

Lowe Acquires 207-Unit Tenth & G Multifamily Community in San Diego

by Amy Works August 4, 2025

SAN DIEGO — Lowe has purchased Tenth & G, a multifamily property located in downtown San Diego. Terms of the transaction were not released. Rachel Parsons, Derrek Ostrzyzek, Mike Murphy and Kenji Thomas of CBRE represented the undisclosed seller in the deal. Andrew Behrens and Jesse Weber of CBRE facilitated a loan on behalf of of the buyer. Built in 2008, the eight-story Tenth & G features 207 studio, one- and two-bedroom floor plans, averaging 704 square feet. The building features floor-to-ceiling windows, generous ceiling heights, exposed concrete accents and expansive panoramic views of the city and bay. At the time of sale, the property featured original finishes. The buyer plans to implement a comprehensive interior renovation and repositioning of the common area amenities.

August 4, 2025

Acquisitions California Multifamily Western

Prime Residential Sells 147-Unit Citra Apartments in Sunnyvale, California

by Amy Works August 4, 2025

SUNNYVALE, CALIF. — Prime Residential has completed the disposition of Citra, a value-add multifamily property located at 745 Bernardo Ave. in Sunnyvale. Terms of the transaction were not released. Ryan Wagner, Brandon Geraldo, Matt Kroger and Fatai Alashe of JLL Capital Markets represented the seller in the deal. Charles Halladay, Jonah Aelyon, Sarah Murphy and Joseph Choi of JLL originated a $44.2 million Freddie Mac loan for the undisclosed buyer. Built in 1968 and renovated in 2019, Citra offers 147 one- and two-bedroom apartments, 133 of which are fully renovated with vinyl plank flooring, quartz countertops and upgraded bathroom vanities. All units contain in-unit washers and dryers. Community amenities include a landscaped pool terrace, spa, fitness center with spin room, outdoor barbecue and picnic areas, a business center, community room, children’s playroom, media room and an outdoor play structure.

August 4, 2025

Loans Multifamily Washington Western

Priority Capital Advisory Arranges $12M Loan for Multifamily Project in Vancouver, Washington

by Amy Works August 4, 2025

VANCOUVER, WASH. — Priority Capital Advisory has arranged a $12 million bridge loan for Hudson West, a 50-unit Class A apartment property in Vancouver. The financing was arranged for Cascadia Development Partners to replace a maturing construction loan, extending financial flexibility through lease-up stabilization. Located at 2411 Broadway St., Hudson West offers 11 studio, 25 one-bedroom and 14 two-bedroom units in a three-story building. Each unit features private balconies, gourmet kitchens, walk-in closets and high-end finishes. Onsite amenities include a coffee bar, multiple common areas and 39 secured parking spaces.

August 4, 2025

Development Michigan Midwest Multifamily Student Housing

Landmark Properties, Cerca Trova Open 521-Bed Student Housing Community in Ann Arbor

by Kristin Harlow August 4, 2025

ANN ARBOR, MICH. — Landmark Properties and Cerca Trova LLC have opened The Legacy at Ann Arbor, a 521-bed student housing community at 616 E. Washington St. in Ann Arbor. Designed by ESG Architecture & Design, the project consists of two interconnected buildings — a 19-story high-rise and a mid-rise structure attached to the historic Michigan Theater. Landmark Construction was the general contractor. The development is fully leased ahead of the 2025-2026 school year. The Legacy at Ann Arbor offers a mix of studios to five-bedroom apartments across 253 units. Apartments come fully furnished and wired for high-speed internet and cable. The development features more than 9,700 square feet of amenities, including a rooftop pool deck and resident clubroom, academic lounge, fitness center and bike storage. The project also includes 4,150 square feet of ground-floor retail space and onsite gated parking. The building is immediately adjacent to the University of Michigan campus. With the opening of The Legacy at Ann Arbor, Athens, Ga.-based Landmark currently operates and manages more than 2,400 beds across six properties in Michigan.

August 4, 2025

Acquisitions Development Illinois Midwest Multifamily

SVN Chicago Commercial Brokers $6M Sale of Multifamily Development Site in Roscoe Village

by Kristin Harlow August 4, 2025

CHICAGO — SVN Chicago Commercial has brokered the nearly $6 million sale of an 80,000-square-foot land parcel at 2221 W. Oakdale Ave. in Chicago’s Roscoe Village neighborhood. Developer Zev Salomon of ZSD Dorp. purchased the site with plans to transform the long-vacant parcel into a 35-unit row home community called RiverWard Row Homes. Wayne Caplan and Adam Thomas of SVN Chicago represented the undisclosed seller, while Matthew Lucas of Accretive LLC and Kale Realty represented the buyer. The deal took more than a year to close due to a zoning change and coordination with the Army Corps of Engineers on river access, according to Caplan.

August 4, 2025

Development Multifamily Texas

LV Collective Begins Leasing 48-Story Apartment Tower in Downtown Austin’s Rainey Street District

by Taylor Williams August 4, 2025

AUSTIN, TEXAS — Locally based multifamily and student housing developer LV Collective, formerly known as Lincoln Ventures, has begun leasing Paseo, a 48-story apartment tower located at 80 Rainey St. in downtown Austin. Paseo offers 557 units in studio, one-, two- and three-bedroom floor plans, as well as four penthouses and a pool, deck and bar on the 12th floor with views of Lady Bird Lake. Residents also have access to a ground-level café and bar, a fitness center with a yoga studio, cold plunge and saunas and two floors of coworking space with private pods and conference rooms. Monthly rents start in the $1,900s for a studio apartment. Construction began in early 2023 and is expected to be fully complete in October.

August 4, 2025

Loans Multifamily Texas

PCCP Provides $42M Acquisition Loan for Downtown San Antonio Apartment Community

by Taylor Williams August 4, 2025

SAN ANTONIO — Los Angeles-based PCCP LLC has provided a $42 million acquisition loan for Heritage Plaza, a 341-unit apartment community located at 227 Dwyer Ave. in downtown San Antonio. Built in 2020, Heritage Plaza offers studio, one- and two-bedroom units, 34 of which are subject to income restrictions. Residences are furnished with stainless steel appliances, kitchen islands, walk-in closets and balconies/patios in each unit. Amenities include a pool, fitness center, outdoor kitchen, rooftop terraces and a resident clubhouse, as well as 4,600 square feet of ground-floor retail space. The borrower was Austin-based RPM Living Investments.

August 4, 2025

Development Multifamily Texas

SHIR Capital Completes 174-Unit Multifamily Adaptive Reuse Project in Austin

by Taylor Williams August 4, 2025

AUSTIN, TEXAS — Local private equity firm SHIR Capital has completed Veer Apartments, a 174-unit multifamily adaptive reuse project in Austin. The project converted a former five-story Quality Inn hotel located just north of downtown into an apartment complex with two sets of studio floor plans. The conversion also added a fitness center and outdoor pool to the property to complement the existing business center, onsite laundry facilities and pet spa. Pfluger Architects designed the project, and Ava’s Construction served as the general contractor. Monthly rental rates at Veer start at $790, according to the property website

August 4, 2025

Acquisitions Affordable Housing Georgia Multifamily Southeast

JLL Negotiates $39M Sale of Luxury Apartment Complex in Atlanta’s Upper Westside Neighborhood

by Abby Cox August 4, 2025

ATLANTA — JLL Capital Markets has negotiated the $39 million sale of 12th & James, a 214-unit luxury apartment complex in Atlanta’s Upper Westside neighborhood. While all units will be dedicated to long-term affordable housing under the new ownership, half of the apartments will be specifically reserved for families earning up to 80 percent of the area median income (AMI). An agreement with the Atlanta Urban Development Corp. ensures the units will remain affordable for at least 25 years. Situated along 1212 James Jackson Parkway NW, the complex was originally built in 2002 and features 189 partially renovated units and 25 original apartments spanning one-, two- and three-bedroom floorplans. The partially renovated units include upgrades such as white cabinetry, new countertops, tile backsplashes, stainless steel appliances, Nest thermostats and smart home features. Community amenities include a resort-style swimming pool, fitness center, business center, outdoor kitchen and an off-leash dog park. John Weber, Peter Yorck, Nick Brown and Dean Shoham of JLL’s Investment Sales and Advisory team represented the seller, Aspen Square Management, in the transaction. The buyer was EQ Housing Advisors Inc., who partnered with Atlantica Properties to convert the property into long-term affordable housing.

August 4, 2025

Acquisitions Affordable Housing Loans Maryland Multifamily Southeast

Horning Acquires 288-Unit Multifamily Community in Suburban D.C., Places Income Restrictions

by Abby Cox August 4, 2025

HYATTSVILLE, MD. — Horning has acquired Plaza Towers Apartments, a 288-unit multifamily community located in Hyattsville, a suburb of Washington, D.C. Horning has agreed to 99-year affordability covenants on all the building’s units, capping rents between 40 and 80 percent of the area median income (AMI). Amazon’s Housing Equity Fun provided $18.7 million in low-cost financing, while Prince George County contributed $3 million through its Right of First Refusal Preservation Fund, as well as a Payment in Lieu of Taxes (PILOT) for an undisclosed value. Additionally, an unnamed Freddie Mac Optigo lender provided senior debt financing. Built in 1964 near the University of Maryland’s College Park campus, the 11-story building houses 44 studio, 158 one-bedroom, 62 two-bedroom and 24 three-bedroom apartments. Community amenities include a business center, fitness room, club room, bike storage, playground and an outdoor pool. Horning plans to invest in the property with updated infrastructure and building systems. The buyer’s property operator affiliate, Horning Management Co,. will provide management services for Plaza Towers.

August 4, 2025

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