NEW YORK CITY — Wells Fargo has provided a $249.2 million Fannie Mae loan for the refinancing of Anagram NoMad, a 50-story apartment tower located in the Manhattan neighborhood of the same name. Anagram NoMad offers 392 units in studio, one-, two- and three-bedroom floor plans. Amenities include an indoor and outdoor rooftop lounge with a bar, a game room and lounge spaces; a gym with a climbing wall and yoga studio; a resident café; a coworking space with a conference and telephone rooms; a children’s playhouse; a library; and a private garden lawn. Andrew Cohen and Shane Hogan of Wells Fargo originated the financing on behalf of the owner, Global Holdings Management Group, which will use the proceeds to refinance an existing Wells Fargo balance sheet loan.
WATCHUNG, N.J. — A partnership between Boston-based investment firm Marcus Partners and two regional developers, Sterling Properties and Danbro Properties, has broken ground on a 230-unit multifamily project in the Northern New Jersey community of Watchung. Blue Hill at Watchung will comprise six buildings on a 41.8-acre site. Amenities will include a pool, clubhouse, fitness center, coworking spaces, indoor/outdoor lounges, dog park and a golf simulator. The first units are expected to be available for occupancy by the end of 2026. Jon Mikula, Jim Cadranell and Michael Lachs of JLL arranged construction financing for the project through First Citizens Bank. The loan amount was not disclosed, but the project carries a price tag of roughly $104 million.
INDEPENDENCE TOWNSHIP, N.J. — Locally based owner-operator Woodmont Properties has sold Woodmont Liberty Apartments, a 120-unit multifamily complex in Independence Township, about 60 miles west of New York City. Completed in 2023 and fully stabilized at the time of sale, the property offers one- and two-bedroom units that are furnished with custom-designed kitchens, walk-in closets, keyless entry mechanisms, individual washers and dryers and private balconies/patios. Amenities include a pool, outdoor grilling and dining areas, a fitness center, game room, conference center, walking trails and a dog park. Steve Tragash, Greg Pine, Eli Herskowitz and Angela Melillo of Sage Investment Real Estate Advisors represented Woodmont and the undisclosed buyer in the transaction.
MARLBOROUGH, MASS. — Locally based developer The Procopio Cos. has begun leasing Vesa, a 140-unit multifamily project in the western Boston suburb of Marlborough. Designed by Maugel Destefano Architects with a Procopio affiliate also serving as the construction manager, Vesa offers 60 one-bedroom units, 62 two-bedroom apartments and 18 three-bedroom residences. Amenities include a pool, resident lounge, dog park, fitness center and walking trails. Information on starting rents was not announced.
Orlando is one of the country’s most active residential markets today — a modern-day “boomtown” experiencing rapid growth on multiple fronts. Economic expansion, population gains and infrastructure investments are fueling job creation and housing demand. Multifamily developers have responded with an unprecedented range of new affordable, middle-market and luxury housing options. Young professionals, retirees, urbanites, suburbanites, digital nomads and long-term residents can each find something to suit their lifestyles and budgets thanks to a diverse mix of residential settings and price points across the Central Florida region. Economic drivers Orlando has attracted more people and created more jobs than any other U.S. metro over the past year. In 2024, Orlando led the nation in job growth, adding more than 37,500 jobs, according to the Florida Department of Commerce. Major projects, such as Universal Studios’ Epic Universe, Walt Disney World’s expansion, the Lake Nona Town Center build-out and Westcourt (the Orlando Magic’s Sports and Entertainment District) are expected to bring another 60,900 jobs by 2027. The growing healthcare, education and tech sectors are bringing greater balance to the economy; more than 80 percent of the local workforce is employed outside of hospitality and leisure, according to the Orlando Economic Partnership. Orlando …
RANCHO CUCAMONGA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $64 million in financing for the construction of a mixed-use development project at 8500 Haven Ave. in Rancho Cucamonga. Ron Bayls of MMCC secured the financing through Parkview Financial on behalf of a private developer. At full build-out, the 248-apartment project will feature six residential buildings, a mixed-use building, ground-floor commercial space and a retail building. Planned apartment amenities include a pool, fitness center, pickleball court, clubhouse, onsite laundry and landscaped outdoor areas.
REDLANDS, CALIF. — Sentinel Real Estate has purchased The Venue at Orange, an apartment community in Redlands, approximately 60 miles east of downtown Los Angeles. Terms of the transaction were not released. Completed in 2023, the 328-unit, garden-style property is comprised of seven buildings including six residential structures and a mixed-use community clubhouse. The Venue on Orange offers a mix of one-, two- and three-bedroom units featuring nine-foot ceilings, full-sized washers and dryers, fully equipped kitchens with islands, stainless steel appliances, quartz countertops and tile backsplashes. Community amenities include a pool, spa, fitness center with a yoga/Pilates studio and spin room, a lounge and game room, chef’s kitchen and a coffee bar. Additionally, residents have access to a business center with private and open coworking spaces, a media room, grilling areas, EV charging stations and automated package lockers with controlled access via gated community entry.
LINCOLN CITY, ORE. — The Capital Services Group of Global Real Estate Advisors (GREA) has secured a $4 million loan for the refinancing of a garden-style apartment complex in Lincoln City, located on Oregon’s coast. The 44,250-square-foot property offers 48 apartments. Matt Swerdlow, Matthew Dzbanek and Anthony Priest of GREA Capital Services arranged the transaction. Adam Smith of GREA provided local advisory services for the deal. The loan featured a 10-year term, 30-year amortization schedule and no prepayment penalty.
AUSTIN, TEXAS — AMLI Residential has completed a 360-unit multifamily project in Austin’s Mueller District, which is a 700-acre mixed-use redevelopment of a former municipal airport campus. Designed by HLR Architects and O’Brien Architects, AMLI North Park offers studio, one- and two-bedroom units with stainless steel appliances and individual washers and dryers. Amenities include a pool, fitness center, putting green, outdoor grilling and dining areas, sky lounge and makers’ and coworking spaces within a 2,500-square-foot clubroom. Rents start at $1,945 per month for a studio apartment.
TEXAS CITY, TEXAS — Colliers has brokered the sale of Shoal Pointe Apartments, an 87-unit multifamily building in Texas City, located southeast of Houston. Built in 1970 and partially renovated in 2020, Shoal Pointe comprises nine buildings on a 2.5-acre site. Residences come in one-, two- and three-bedroom floor plans. Bob Heard, Chip Nash and Jaleel Adatia of Colliers brokered the deal. The name of the buyer, a private investor, as well as the seller and sales price, were not disclosed.