Tuesday, November 11, 2025
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Multifamily

AcquisitionsMississippiSoutheastStudent Housing

Morgan Stanley, Scion Acquire 2,000-Bed Student Housing Portfolio Near Ole Miss for $262M

by John Nelson

OXFORD, MISS. — A joint venture between Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and The Scion Group has acquired a 2,000-bed student housing portfolio located near the University of Mississippi (Ole Miss) campus in Oxford for $262 million. The portfolio is located within two miles of campus and includes 600 apartments, townhomes and cottages. The acquisition of College Town Oxford, a cottage-style community located on the west side of campus, closed earlier this month. The remaining acquisitions — which include a garden-style community located south of campus and four smaller properties in downtown Oxford — are expected to close in the third quarter. TSB Capital Advisors arranged financing for the acquisitions. The sellers were not disclosed.

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DevelopmentFloridaLoansMultifamilyRestaurantSoutheastWalker & Dunlop

Walker & Dunlop Arranges $125M Construction Loan for Cassi Apartment Tower in Miami

by John Nelson

MIAMI — Walker & Dunlop has arranged a $125 million construction loan for Cassi, a 20-story apartment tower located at 91 N.E. 36th St. in Miami’s Design District. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and Michael Stepniewski led Walker & Dunlop’s New York Capital Markets team in arranging the financing on behalf of the borrower, a joint venture between the Miami Design District Associates and The Forbes Co. Amerant Bank was the lead lender, with Bank Hapoalim also participating. Cassi will feature one-, two- and three-bedroom apartments averaging 1,509 square feet in size. The tower will also include 23,000 square feet of retail space.  

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Sugarmont-Apts-SLC-UT
AcquisitionsMultifamilyUtahWestern

Centerspace Acquires Sugarmont Apartments in Salt Lake City for $149M

by Amy Works

SALT LAKE CITY — Centerspace (NYSE: CSR) has purchased Sugarmont Apartments, a Class A mid-rise multifamily property in Salt Lake City’s Sugar House neighborhood, from Cottonwood Communities for $149 million. Centerspace has retained Cottonwood as property manager for the asset, which is located at 2191 S. McClelland St. Built in 2021, Sugarmont Apartments features 341 units in a mix of studio, one-, two- and three-bedroom floor plans, along with townhomes. Residences offer quartz countertops with mosaic tile backsplashes, smart home features, private balconies, walk-in closets and luxury plank flooring. Community amenities include a resort-style pool and spa, two landscaped courtyard terraces with fire pits and grills, a fitness club and yoga studio, pet park and resident clubhouse. Mark Jensen, Rawley Nielsen and Darren Nielsen of Northmarq’s Salt Lake City Multifamily Investment Sales team represented the buyer in the transaction.

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Park-Center-Seven-Oaks-Bakersfield-CA
CaliforniaDevelopmentLoansMultifamilyWestern

BWE Secures $61M Construction Loan for Park Center Apartments in Bakersfield, California

by Amy Works

BAKERSFIELD, CALIF. — BWE has secured a $61 million construction loan to finance the first phase of Park Center at Seven Oaks, a planned 520-unit multifamily community in Bakersfield. Upon completion, Park Center at Seven Oaks will be the largest multifamily development in Kern County, Ariz. Phase I will include 352 garden-style apartments. Located at the southwest corner of S. Allen Road and White Lane, the initial southern phase of Park Center Apartments will feature 17 residential buildings, a leasing office, fitness center and pool house. Of the 352 planned units, 152 will be one-bedroom/one-bath units and the remaining 200 will be two-bedroom/two-bath units. Apartment amenities will include quartz countertops, subway tile backsplash, white Shaker cabinets, hardwood-style plank flooring, stainless steel appliances, in-unit washers/dryers, fiber optic internet, private patios and nine-foot ceilings. Community amenities will include a clubhouse with kitchen, lounges, coworking spaces, storage, a mail room, fitness center with yoga studio, two pools, pergola-shaded barbecue patios and fire pits and a shared active-use turf area with corn hole, volleyball and ping pong. The pet-friendly community will also offer a fenced dog run and onsite dog wash station. Tom Turnage and Alex Gregoire of BWE originated the four-year, floating-rate loan with …

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DevelopmentMarylandMultifamilySoutheastStudent HousingTop Stories

Harrison Street, LV Collective to Build 1,003-Bed Student Housing Project Near University of Maryland

by Kristin Harlow

COLLEGE PARK, MD. — Harrison Street and LV Collective have formed a joint venture to develop Rambler College Park, a 1,003-bed student housing project located less than a quarter-mile from the University of Maryland campus in College Park. Completion of the 288-unit, 340,000-square-foot development is slated for fall 2027. Rambler College Park is designed to provide 13,715 square feet of retail space, including businesses that were previously tenants of Campus Village Shoppes, a shuttered shopping center on the project site. In addition, LV Collective worked with the Lakeland Civic Association and the Lakeland Community Heritage Project to plan a community center within the development. Plans call for a library and archive to preserve and share the history of the Lakeland community, as well as a flex space to be used for presentations, art galleries and gatherings. Amenities at the project will include Daydreamer, a coffee shop owned by LV Collective, as well as a second-floor coworking mezzanine, outdoor terrace, hot tub, fitness center, yoga studio and cold plunge. “This development reflects our commitment to creating environments that go beyond housing — places where students, residents and the community alike can thrive, connect and grow,” says Jonathan Reyes, president of student …

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DevelopmentFloridaLoansSeniors HousingSoutheast

JLL Arranges Two Construction Takeout Loans Totaling $114M for EDEN Living BTR Projects in Florida

by John Nelson

WEST MELBOURNE AND JACKSONVILLE, FLA. — JLL has arranged $114 million in bridge loans on behalf of BTR developer EDEN Living to refinance existing construction debt on two Florida properties. The package includes a $70 million loan for the 373-unit EDEN at Heritage Lakes in West Melbourne and a $44 million loan for the 265-unit EDEN at Kendall West in Jacksonville. The direct lender of the construction takeout loans was not disclosed. Both properties were developed in 2024. Max La Cava, Melissa Quinn, Rob Rothaug and Jade Starkey of JLL arranged the financing on behalf of the borrower.

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Parc-Westborough
AcquisitionsMassachusettsMultifamilyNortheast

CBRE Negotiates Sale of 249-Unit Apartment Complex in Westborough, Massachusetts

by Taylor Williams

WESTBOROUGH, MASS. — CBRE has negotiated the sale of Parc Westborough, a 249-unit apartment complex located about 35 miles west of Boston. The property, which was constructed in 2016, consists of four residential buildings and a freestanding clubhouse. Residences feature one-, two- and three-bedroom floor plans and have an average size of 1,008 square feet.  Amenities include a pool, fitness center and outdoor grilling and dining stations. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Utah-based Cottonwood Residential, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.

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DevelopmentMassachusettsMultifamilyNortheast

Nauset Construction Completes Phase II of Multifamily Conversion Project in Downtown Boston

by Taylor Williams

BOSTON — Nauset Construction has completed Phase II of The Conrad, a project in downtown Boston that is a multifamily conversion of the former Conrad & Chandler’s department store. Designed by Schopf Design Associates (Phase I) and Golden Architects (Phase II) and owned by 3MJ Realty, The Conrad comprises 36 residential units and 7,000 square feet of retail space. Phase II included constructing four one-bedroom and five two-bedroom units on the second floor, renovating the first-floor retail space; installing a new roofing system, upgrading the elevator cab and replacing existing windows.

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DevelopmentMidwestMultifamilyWisconsin

Bond Cos. Breaks Ground on Multi-Phase Multifamily Project in Wisconsin’s Kenosha County

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Bond Cos. has broken ground on Inspire Prairie Springs in Pleasant Prairie. The first phase of the multifamily project, set to be completed in early 2027, will consist of 332 units across three buildings as well as an amenity clubhouse. The three-story, garden-style buildings will feature a mix of studio, one-, two- and three-bedroom layouts ranging from 500 to 1,405 square feet. Each building will include a lobby amenity suite with a lounge, coworking space, package room, bicycle room and resident storage. An additional third-floor resident lounge will include communal seating, a wet bar and outdoor patio. Clubhouse amenities will include a fitness center, golf simulator, coworking space, resident lounge and dog wash facility. A party room will feature Table Tap technology, a self-pour beverage system. The community will also feature an outdoor pool, pickleball courts, a putting green, outdoor fitness space, dog park, playground, recreation trail, cabanas, fire pits, grilling stations and a car care station. The project team includes RINKA as architect and Stevens Construction Corp. as general contractor. A second phase of construction is planned for 378 units across five three-story buildings with another amenity clubhouse. When that phase is completed in 2028, …

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $7M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $7 million sale of an 8,282-square-foot multifamily development site in Brooklyn’s Prospect Heights neighborhood. The site at 918 Atlantic Ave. currently houses a car wash and can support 59,630 buildable square feet as of right and up to 74,538 buildable square feet with inclusionary housing bonus. Andrew Bronsteen, Shaun Riney and Jason Farese of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors, in the transaction.

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