Multifamily

United Group Begins Construction on 152-Unit Active Adult Development in Winter Park, Florida

by John Nelson December 18, 2025

WINTER PARK, FLA. — The United Group of Cos. has begun construction on Terracotta Terrace, an active adult community in Winter Park, roughly six miles northeast of Orlando. Upon completion, the property will total 152 units reserved for residents age 55 and older. Residences will include one- and two-bedroom apartments, as well as penthouses. Additionally, the community will feature 12,000 square feet of amenity space. Amenities will include a pool, outdoor bar and kitchen, dog park, bocce ball, shuffleboard courts, fire pits, cabanas, a great room, café and bar area, movie theater, fitness center, yoga studio and a wellness center with a salon, massage studio and sauna. Completion of construction is scheduled for the fourth quarter of 2027. The project team includes Winter Park Construction and Forum Architecture & Design. United Plus Property Management, the management arm of United Group, will operate the community.

December 18, 2025

Acquisitions Development Multifamily New Jersey Northeast

GN Management Buys Multifamily Development Site in Jersey City, Plans 57-Story Tower

by Taylor Williams December 18, 2025

JERSEY CITY — Locally based investment and development firm GN Management has acquired a multifamily development site in Jersey City with plans to construct a 57-story tower. The waterfront site is known as Harborside 9 and is approved for the development of 579 units, as well as 14,800 square feet of retail and a 555-space parking garage. Fifteen percent (87 residences) will be set aside as affordable housing. Information on floor plans and amenities was not disclosed. Jim Pompa of Coldwell Banker brokered the sale of the site from Panepinto Properties, which recently closed on financing for a 678-unit multifamily project at Harborside, to GN Management. Construction is targeted for a 2027 commencement.

December 18, 2025

Acquisitions California Multifamily Western

Step Up Housing Acquires Multifamily Community in San Leandro, California for $47.4M

by Amy Works December 18, 2025

SAN LEANDRO, CALIF. — Sack Capital Partners and Align Finance Partners have closed on structured financing on behalf of Step Up Housing for its $47.4 million acquisition of Woodchase Apartments, an affordable multifamily property in San Leandro. Sack will also provide asset and property management for the property. Located at 2795 San Leandro Blvd., Woodchase Apartments offers 186 studio, one- and two-bedroom floor plans spread across 13 buildings. Originally built in 1976, the community includes 93 loft-style apartments with 19-foot ceiling heights. Institutional Property Advisors represented the undisclosed seller in the deal.

December 18, 2025

Colorado Development Multifamily Western

Origin Investments, Confluence Cos. to Develop 298-Unit Brickyard Apartments in Castle Rock, Colorado

by Amy Works December 18, 2025

CASTLE ROCK, COLO. — Origin Investments and Confluence Cos. have formed a joint venture to develop Brickyard Apartments in Castle Rock. The 298-unit multifamily community will be part of Confluence’s 31-acre master-planned development, The Brickyard. Situated on 3 acres, Brickyard Apartments will feature 36 studio, 149 one-bedroom, 98 two-bedroom and 15 three-bedroom residences, with rents ranging from $1,600 to $3,150 per month. Community amenities will include a rooftop pool with a hot tub, lounge sauna and cold plunge, a fitness center, private social lounge and kitchen, outdoor terrace area, golf simulator, courtyards with green space, a dog spa and covered parking. Additionally, the property will feature a for-sale 38,300-square-foot commercial condominium.

December 18, 2025

California Development Loans Mixed-Use Multifamily Retail Western

Quantum Capital Partners Secures $26M Construction Loan for Apartment Project in Rosemead, California

by Amy Works December 18, 2025

ROSEMEAD, CALIF. — Quantum Capital Partners has arranged a $26 million construction loan for Prospect Village, an apartment development in Rosemead. Kevin Wong of Quantum Capital secured the financing for the borrower, The Connected Cos., which is developing the property. Located along the Garvey Avenue corridor, Prospect Village will feature a seven-story multifamily complex offering 75 one-, two-, three- and four-bedroom residential units and 6,350 square feet of ground-floor retail space. Designed by Scale Labs Architects, the low-rise structure will feature a cascading terrace deck design at the rear, offering outdoor space and architectural interest. The project is expected to break ground immediately.

December 18, 2025

Acquisitions Illinois Midwest Multifamily

CEDARst Purchases 132-Unit Chicago Apartment Community for $34.6M

by Kristin Harlow December 18, 2025

CHICAGO — CEDARst Cos. has purchased the Weyland, a seven-story, 132-unit apartment community in Chicago, for $34.6 million. Formerly known as A.M. 1980 Apartments, the property is located at 1980 N. Milwaukee Ave. at the gateway between the city’s Bucktown and Logan Square neighborhoods. Delivered in 2018, the asset features 6,245 square feet of ground-floor retail space and a mix of Class A amenities, including a fitness center, dog run and rooftop deck with views of Lake Michigan and the Chicago skyline. The building was 95 percent occupied at the time of sale. The Weyland marks CEDARst’s second Chicago acquisition of 2025, following the purchase of The Millie on Michigan in July. The company now owns and operates more than 5,000 units in Chicago.

December 18, 2025

Conference Coverage Features Multifamily

InterFace Panel: Oversupply, Costs Remain Key Obstacle to Underwriting, Financing New Multifamily Projects

by Taylor Williams December 18, 2025

ATLANTA — Jason Nettles, managing director at Northmarq’s Atlanta office, is well-versed on the recent history of U.S. apartment deliveries, knowledge that came in handy for launching discussion among developers at the 16th annual InterFace Multifamily Southeast conference. Nettles moderated a panel of five regional developers, all of whom also share keen awareness of just how much new multifamily product U.S. markets — particularly those in the highly desirable Sun Belt regions — have added in recent years. In these areas, supply growth is both a dominant narrative on the surface of the multifamily development scene and an invisible hand that guides business decisions behind that scene. Massive blips in supply, whether positive or negative, impact key facets of underwriting, including rent growth assumptions and concessions, as well as financing terms on both the debt and equity sides of the capital markets. Those figures and assumptions must then be evaluated against hard costs of development, which as a rule do not decline over time, but rather grow at varying paces. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. All …

December 18, 2025

Affordable Housing Development Multifamily New York Top Stories

Breaking Ground, Douglaston Development Finalize $242M Phase I of Affordable Housing Project in Brooklyn

by Hayden Spiess December 18, 2025

NEW YORK CITY — A joint venture between nonprofit Breaking Ground Housing Development Fund Corp. and New York City-based Douglaston Development has finalized plans for the first phase of Sparrow Square, a $1 billion affordable housing development project in the Brooklyn borough of New York City. The $242 million phase will comprise two 10-story residential buildings. Totaling 262 units of affordable housing, the buildings will feature 117 units designated as supportive housing. Amenities at the property will include a fully equipped gym, bike storage and private terraces. Supportive services will also be available onsite. Additionally, Phase I will features an 8,000-square-foot community facility for the Brooklyn Ballet, which will support arts programming and community engagement. Project work will also include the addition of a new private drive (dubbed Sparrow Way) to integrate the residential buildings and community facility into the surrounding street grid. Each building in Phase I will be designed to Passive House standards and offer all-electric utilities. The development will also feature electric vehicle charging, sustainable stormwater management practices, solar panels and green roofing. Financing for Phase I includes state tax-exempt bonds, a subsidy from New York State’s (NYS) Supportive Housing Opportunity Program and 4 percent low-income housing tax …

December 18, 2025

Loans Multifamily Seniors Housing Texas

KeyBank Provides $157.2M in Financing for Texas Skilled Nursing Portfolio

by Taylor Williams December 17, 2025

TEXAS — KeyBank Real Estate Capital has provided $157.2 million in financing for a portfolio of seven skilled nursing facilities in Texas. The facilities are located in Mission, McAllen, Weslaco, Rio Grande City, Spring, Seguin and Eagle Pass. The number of beds was not disclosed. Grant Saunders, Peter Trazzera and Patrick Gilbreath of KeyBank originated the financing, which carries a 35-year term and a fixed interest rate, through the FHA’s 232/223(f) mortgage insurance program. The borrower is Wellsential Health.

December 17, 2025

Development Multifamily Texas

Caldwell Communities to Develop 220-Unit Active Adult Project in Kingwood, Texas

by Taylor Williams December 17, 2025

KINGWOOD, TEXAS — Local developer Caldwell Communities will build a 220-unit active adult project in Kingwood, located north of Houston. Cadence Creek Kingwood will feature one- and two-bedroom units that will be reserved for renters age 55 and above. Amenities will include a pool, courtyards, a game room, fitness center, community craft room, bark park, coffee lounge and a private dining room. Construction is scheduled to begin next year, and the first move-ins will commence in 2027.

December 17, 2025

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