Multifamily

Subtext, Clarion to Break Ground on 784-Bed Student Housing Development Near University of Kentucky

by John Nelson April 9, 2026

LEXINGTON, KY. — Subtext is set to break ground on VERVE Lexington, a 784-bed student housing development located at 185 E. Maxwell St. near the University of Kentucky campus in Lexington. The community is being developed in partnership with Clarion Partners in a qualified opportunity zone and is scheduled for completion in summer 2028. VERVE Lexington will span 460,136 square feet and offer 275 units in one-, two-, three- and four-bedroom configurations. Shared amenities are set to include a ground floor coffee shop, dedicated study spaces, fitness and wellness spaces and a second-floor terrace with a pool and clubroom. The development team included Southern Building Group, KTGY, EA Partners and Pacific Life Insurance Co.

April 9, 2026

Affordable Housing Development Multifamily Texas

Palladium Nears Completion of $33M Mixed-Income Housing Project in Metro Houston

by Taylor Williams April 9, 2026

KATY, TEXAS — Palladium USA is nearing completion of a $33 million mixed-income housing project in the western Houston suburb of Katy. Palladium Park Row Katy Living will feature 93 units in one-, two- and three-bedroom formats, with the affordable units reserved for households earning between 30 and 80 percent of the area median income. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubhouse with a mini kitchen. Palladium developed the property in a public-private partnership with the Harris County Housing Finance Corp. HEDK Architects designed the community, and Brownstone Group was the general contractor.

April 9, 2026

Acquisitions Multifamily New York Northeast

Kislak Negotiates $8.3M Sale of Apartment Building in Poughkeepsie, New York

by Taylor Williams April 9, 2026

POUGHKEEPSIE, N.Y. — Regional brokerage firm The Kislak Co. Inc. has negotiated the $8.3 million sale of Hamilton Garden Apartments, a 58-unit building in Poughkeepsie, located north of New York City. The property consists of seven two-story buildings that were built between 1925 and 1965 and house studio, one- and two-bedroom units, as well as onsite laundry facilities. Janet Bortz of Kislak brokered the deal. The buyer and seller were not disclosed.

April 9, 2026

Development Multifamily Washington Western

Mill Creek Residential Breaks Ground on 280-Unit Multifamily Project in Des Moines, Washington

by Amy Works April 9, 2026

DES MOINES, WASH. — Mill Creek Residential has begun construction of Modera Woodmont Beach, an apartment community in Des Moines, 20 miles south of downtown Seattle. Resident move-ins are estimated to begin in summer 2027. Modera Woodmont Beach will include 280 one-, two- and three-bedroom apartments and 7,500 square feet of retail space. Community amenities will include a resort-style pool, hot tub, an outdoor deck, a grilling and outdoor dining area, a resident clubhouse, coffee bar, dog park, children’s playground and a fitness studio. Additionally, residents will have access to a coworking lounge with private workstations, package storage and gated parking with electric vehicle charging stations. The community will be built to National Green Building Standard (NGBS) certification, which awards points for features such as energy and water efficiency and indoor air quality.

April 9, 2026

Acquisitions California Multifamily Seniors Housing Western

MBK Senior Living Sells Two Communities in California Totaling 198 Units

by Amy Works April 9, 2026

MANTECA AND STOCKTON, CALIF. — MBK Senior Living has sold two seniors housing communities in California totaling 198 units. Clarion Partners acquired the communities for an undisclosed price. Located in Manteca and Stockton, the portfolio includes The Commons at Union Ranch and The Commons on Thornton. Built in 2004, The Commons on Thornton features 100 assisted living and memory care units. The property was 94 percent occupied at the time of sale. The Commons at Union Ranch was built in 2008 and comprises 98 assisted living and memory care units. The community was 97 percent occupied at the time of sale. Aaron Rosenzweig and Dan Baker of JLL represented the seller in the transaction.

April 9, 2026

Acquisitions Multifamily Texas

IPA Negotiates Sale of 372-Unit Multifamily Portfolio in East Dallas

by Taylor Williams April 8, 2026

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a two-property multifamily portfolio totaling 372 units in East Dallas. Creekstone is a two-story, 220-unit apartment complex that was built in 1982. Gable Point is a 152-unit property that was constructed in 1986. Both properties offer units with private patios/balconies, as well as pools and onsite laundry facilities. William Hubbard, Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham of IPA represented the seller, Pardue Cos., in the transaction, and procured the buyer, Clover Capital Partners.

April 8, 2026

Development Loans Multifamily New York Northeast

ACRES Capital Provides $96M Construction Loan for White Plains Multifamily Project

by Taylor Williams April 8, 2026

WHITE PLAINS, N.Y. — ACRES Capital Corp. has provided a $96 million construction loan for 70 Westchester, a new multifamily project in White Plains, located north of New York City. The number of units and floor plans was not disclosed, but residences will be furnished with quartz countertops and “high-quality” kitchen and bathroom finishes. Amenities will include a pool, private dining room, coworking lounge, rooftop terrace, fitness center and an esports lounge. Completion is slated for fall 2027. The developer was also not disclosed.

April 8, 2026

Loans Multifamily New Mexico Western

Gantry Secures $10M Refinancing for Sunchase Apartments in Albuquerque

by Amy Works April 8, 2026

ALBUQUERQUE, N.M. — Gantry has secured a $10 milion permanent loan to refinance Sunchase, a multifamily property located at 3901 Montgomery Blvd. NE in northeast Albuquerque’s Reindeer neighborhood. Situated on 10.2 acres, the community consists of 15 garden-style residential buildings offering a total of 240 one- and two-bedroom apartments. Community amenities include a swimming pool with spa, clubhouse, business center, playground, covered parking and gated access. Blake Hering and Kristin Lapinskas of Gantry represented the borrower, a private real estate investor group, in the financing. The seven-year, fixed-rate loan was secured from one of Gantry’s correspondent life companies and features full-term interest-only payments. Gantry will service the loan for the lender.

April 8, 2026

Acquisitions Illinois Midwest Multifamily

Standard, Belay Acquire 256-Unit Apartment Property in Lombard, Illinois

by Kristin Harlow April 8, 2026

LOMBARD, ILL. — Standard Real Estate Investments has expanded its strategic partnership with Belay Investment Group. The venture will target middle-market, value-add multifamily investment opportunities in the Midwest with a commitment of $50 million. To mark the beginning of the partnership, Standard has completed the acquisition of Martins Point, a 256-unit, garden-style property in Lombard. The asset is located at 2101 S. Finley Road in DuPage County. Built in 1989, Martins Point features 17 buildings along with a clubhouse and maintenance shop. Amenities include a pool, grilling center, fitness center and game room. Planned renovations include enhancements to residences and common areas. Standard now owns 1,092 units in suburban Chicago.

April 8, 2026

Loans Michigan Midwest Multifamily

Berkadia Arranges Fannie Mae Loan for 96-Unit Meadowood Townhomes in Grand Rapids

by Kristin Harlow April 8, 2026

GRAND RAPIDS, MICH. — Berkadia has arranged financing for Meadowood Townhomes, a 96-unit, newly constructed multifamily property in Grand Rapids. Aaron Moll, Dominick Ens and Kevin Nimmo of Berkadia secured the loan through Fannie Mae. The borrower is the developer of the property, Grand Rapids-based Wheeler Development Group, which owns and operates the asset under its affiliated property management company, PURE Real Estate Management. The 10-year loan featured a 5.32 percent interest rate with seven years of interest-only payments followed by a 30-year amortization. Meadowood Townhomes was built in 2025.

April 8, 2026

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