Multifamily

NRP Group Breaks Ground on 297-Unit Affordable Housing Project in Denton, Texas

by Taylor Williams May 4, 2026

DENTON, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Arbor Ranch, a 297-unit affordable housing project in the North Texas city of Denton. The site at 2820 Roselawn Drive spans 22 acres, and the development will consist of nine three-story buildings that will house one-, two-, three- and four-bedroom units and will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, playground, barbecue and picnic areas, children’s activity room and a community lounge, and residents will also have access to various onsite social services. Younger Partners brokered the sale of the land. Truist Bank provided a $68 million construction loan for the project. The first units are expected to be available for occupancy early next year.

May 4, 2026

Loans Multifamily Northeast

JLL Arranges $109.5M Loan for Refinancing of Apartment Building in Edgewater, New Jersey

by Taylor Williams May 4, 2026

EDGEWATER, N.J. — JLL has arranged a $109.5 million bridge loan for refinancing of a 226-unit, newly renovated apartment building in the Northern New Jersey community of Edgewater. Edgewater Riello features one-, two-, three- and four-bedroom units with an average size of 1,139 square feet, as well as penthouse suites. Amenities include a fitness center, sauna, golf simulator, resident party room and an outdoor lounge. JLL arranged the three-year, floating-rate loan through MF1 Capital on behalf of the sponsors, Skylight Real Estate Partners and PCCP.

May 4, 2026

California Loans Multifamily Western

JLL Arranges $46.3M Refinancing for Multifamily Community in Long Beach, California

by Amy Works May 4, 2026

LONG BEACH, CALIF. — JLL Capital Markets has arranged $46.3 million in refinancing for 200 W. Ocean, a 106-unit multifamily community in downtown Long Beach. Jeff Sause, Jacob Michael and Thomas Gonzalez of JLL represented the undisclosed borrower in the financing. The property is an adaptive reuse of a former Class B office building that was redeveloped into a multifamily property atop a three-story subterranean garage. Delivered in August 2022, the community features an amenity deck with a pool and fireplaces, a fitness center and smart-entry features.

May 4, 2026

Development Multifamily Oregon Western

Joint Venture Breaks Ground on 369-Unit Apartment Community in Beaverton, Oregon

by Amy Works May 4, 2026

BEAVERTON, ORE. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with joint venture partners SCOA Real Estate Partners and Lease Crutcher Lewis have broken ground for the development of a transit-oriented, mixed-use multifamily property in Beaverton. Slated for delivery in summer 2027, the project will replace a portion of the Cedar Hills Shopping Center and its underutilized surface parking. Situated on 5.8 acres between S.W. Wilshire Street and Park Way, the community will offer 369 apartments spread across three four- and five-story buildings and 5,040 square feet of ground-floor retail space. The studio, one-, two- and three-bedroom residences will range from 483 square feet to 1,528 square feet and feature contemporary floor plans. Onsite amenities will include an indoor/outdoor fitness area with a full spa, including an outdoor sauna and cold plunge, a residents-only speakeasy, sports bar, community greenhouse, sports simulator and a coworking area with conference rooms. Additionally, the property will offer direct access to Cedar Hills Crossing, proximity to Highways 26 and 217 and a short walk via a pedestrian bridge to the Sunset Transit Center. The project team includes LRS Architects, CID Design Group, Lango Hansen Landscape Architects, Humber Design Group, Froelich Engineers, Tenor …

May 4, 2026

Florida Loans Multifamily Southeast

Continuum Obtains $350M Financing for Waterfront Condo Development in South Florida

by Abby Cox May 4, 2026

NORTH BAY VILLAGE, FLA. — Continuum Co. has obtained $350 million in construction loans for Continuum Waterfront District, a 4-acre master-planned development located along Biscayne Bay in North Bay Village. S3 Capital provided $261 million in financing for the Continuum Club & Residences West, a condo that broke ground in 2025, according to the South Florida Business Journal. The second loan, also provided by S3 Capital, is $83 million for pre-development of the second phase, which will include a hotel and a second condo building. Continuum Co. is developing both phases in partnership with Aksoy Holding, an ownership and development firm based in Turkey. The 36-story Continuum Club & Residences West is slated for completion for July 2028 and will comprise 236 condos, which are 50 percent pre-sold, as reported by South Florida Business Journal. Phase II, which is targeted for completion in 2030, will include 300 additional luxury condominiums. The second phase also features the first Continuum hotel (a member of Preferred Hotels & Resorts), a 20-slip commercially zoned marina, waterfront dining and the “Island Walk,” an activated public green space and bayfront promenade. The project team includes West Palm Beach-based Kast Construction (general contractor), Miami-based Arquitectonica (architect) and Durukan …

May 4, 2026

Affordable Housing Loans Multifamily North Carolina Southeast

JLL Arranges $100.5M in Construction Financing for Mixed-Income Multifamily Development in Charlotte

by Abby Cox May 4, 2026

CHARLOTTE, N.C. — JLL Capital Markets has arranged a $100.5 million senior construction loan and equity capital for Twelve03 at Centre South, a 329-unit mixed-income multifamily development in Charlotte. Taylor Allison, Alexis Kaiser and Ryan Mueller of JLL secured construction financing through TD Bank and the equity placement from RXR Realty Investments on behalf of the borrower/developer, The Fallon Co. Situated near The Pearl, Charlotte’s first medical Innovation District, Twelve03 is the first phase of Centre South, a 16.7-acre mixed-use development. Twelve03 will comprise 263 market-rate and 66 affordable units. Amenities will include a sky lounge, rooftop saltwater swimming pool, coworking spaces, pet spa and a fitness center. Upon completion of the overall mixed-use development, the project will include 405,000 square feet office space, 36,000 square feet of retail, a 180-room hotel, a 1.5-acre green space and up to 975 apartments, with 20 percent of the Centre South’s residential units reserved as affordable housing.

May 4, 2026

California Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

Shopoff Realty Breaks Ground on Westminster Mall Redevelopment Project in Orange County

by Amy Works May 1, 2026

WESTMINSTER, CALIF. — Shopoff Realty Investment has broken ground on Bolsa Pacific at Westminster, a mixed-use redevelopment of the vacant Westminster Mall in Orange County. Designed by AO, the project will transform the former mall into a 83.3-acre downtown destination. Upon completion, Bolsa Pacific will feature 2,250 residential units, 220,000 square feet of retail and restaurant space, a 120-key hotel and more than 15 acres of publicly accessible open space. The residential component will include market-rate and affordable housing, as well as for-sale townhomes spread across five multifamily buildings. Demolition of the former Westminster Mall is underway. The existing Target will remain open during construction, with a new store planned and relocated within the overall development. The project is located along the 405 Freeway and 10 minutes from the Los Angeles County border. In 2024, the scope of the initial project expanded from a 25.8-acre assemblage to encompass the full 83.3-acre former mall site. The expansion enables a comprehensive reimagining of the property that will transform the single-use retail center into a connected mixed-use district.

May 1, 2026

Development Loans Multifamily Texas

Patterson Arranges Construction Loan for 165-Unit Multifamily Project in Sugar Land, Texas

by Taylor Williams May 1, 2026

SUGAR LAND, TEXAS — Patterson Real Estate Advisory Group, a regional financial intermediary has arranged a construction loan for The Westermark, a 165-unit multifamily project that will be located in the southwestern Houston suburb of Sugar Land. The amount was not disclosed. The Westermark will consist of two five-story buildings that will house studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, resident lounge and coworking space. Wintrust Commercial Real Estate provided the loan to the developer, Elm Real Estate Group, which is an affiliate of Indianapolis-based KCG Cos.

May 1, 2026

Acquisitions Arizona Multifamily Western

Stoneweg Sells 194-Unit Apartment Community in Mesa, Arizona to Rise48 Equity

by Amy Works May 1, 2026

MESA, ARIZ. — Stoneweg has completed the disposition of Avenue 8, a garden-style multifamily property in Mesa. Rise48 Equity acquired the asset for an undisclosed price. Brett Polachek, Chris Chanter and Brad Goff of Newmark represented the seller in the transaction. Located at 1050 W. 8th Ave., Avenue 8 features 194 open-concept, two-bedroom/two-bath apartments averaging 1,000 square feet in size. All units include in-unit washers/dryers, private patios or balconies and abundant storage. Community amenities include a resort-style swimming pool and spa, fitness center, pet park and covered parking.

May 1, 2026

Development Kentucky Southeast Student Housing

Western Kentucky University Board Approves Gilbane’s $350M Student Campus Housing Development Plan

by Abby Cox May 1, 2026

BOWLING GREEN, KY. — The Western Kentucky University (WKU) Board of Regents has approved the “Elevate WKU” development plan with Gilbane Development Co., a global real estate development firm, to launch the first phase of a multi-year student housing initiative on the WKU campus in Bowling Green. The Kentucky Capital Projects and Bond Oversight Committee also approved the partnership this week. The $350 million initiative is the largest residential investment in WKU’s history, according to Gilbane. Phase I of the development will replace Hugh Poland and Douglas Keen Halls with a new roughly 1,000-bed residential complex featuring suite-style options, community kitchens, collaborative lounges, expanded community spaces, tech-enabled learning environments and enhanced safety and accessibility features. The facility is expected to open in fall 2028. Gilbane is developing the Elevate WKU master plan in a public-private partnership with the university under a 50-year ground lease model. Under the structure, WKU will enter into a ground lease with the Collegiate Housing Foundation (CHF) — a national 501(c)(3) organization — which will serve as owner and borrower. Gilbane and WKU have selected Inwood Management to oversee the day-to-day operations and physical maintenance of the Elevate WKU portfolio alongside the university’s Residence Life team. Future phases will address renovations of existing …

May 1, 2026

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