Multifamily

StreetLights Residential Underway on 22-Story Apartment Building in Plano

by Taylor Williams July 29, 2026

PLANO, TEXAS — StreetLights Residential is underway on construction of a 22-story apartment building at 6501 Legacy Drive in Plano. The site spans 2.7 acres within the former J.C. Penney headquarters campus, and the development will have 261 one-, two- and three-bedroom units that will range in size from 682 to 2,843 square feet. The development will also feature several three-bedroom townhomes with an average size of about 3,300 square feet. Amenities will include a three-tiered pool with private cabanas, sky lounge, golf simulator, library, fitness center and a pet park. Construction began in June and is expected to be complete in early 2029.

July 29, 2026

Affordable Housing Loans Massachusetts Multifamily Northeast

MassHousing Provides $26.4M in Financing for Boston Affordable Housing Property

by Taylor Williams July 29, 2026

BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their family members. The borrower, nonprofit organization Rogerson Communities, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status.

July 29, 2026

Affordable Housing Development Multifamily Northeast Pennsylvania Seniors Housing

Pennrose, WORC Complete 55-Unit Affordable Seniors Housing Redevelopment in Philadelphia

by Taylor Williams July 29, 2026

PHILADELPHIA — A partnership between owner-operator Pennrose and the Wynnefield Overbrook Revitalization Corp. (WORC) has completed Good Shepherd, a 55-unit affordable seniors housing complex in Philadelphia’s Overbrook area that is a redevelopment of the former Good Shepherd Presbyterian Church, which was destroyed by fire in 2016. Good Shepherd’s one-bedroom units have an average size of 605 square feet and are reserved for renters age 62 and above who earn between 20 and 60 percent of the area median income. Amenities include a fitness center, multi-purpose room and flex space, and residents also have access to social, health and other educational support programs and services.

July 29, 2026

Development Illinois Loans Midwest Multifamily

Associated Bank Provides $28.3M Loan for Development of Chicago Apartment Building

by Kristin Harlow July 29, 2026

CHICAGO — Associated Bank has provided a $28.3 million loan to a joint venture between North Park Ventures and SNS Realty Group for the development of a transit-oriented apartment property on North Sheffield Avenue in Chicago. The loan included funds for the acquisition of the former Tortenson Glass Co., which consists of nearly 30,000 square feet of urban infill land. The five-story, 99-unit apartment building will offer 84 market-rate units and 15 affordable housing units. There will be four studios averaging 500 square feet, 46 one-bedroom units averaging 750 square feet and 49 two-bedroom units averaging 1,150 square feet. Amenities will include a clubroom with coworking space, a wellness center with a sauna, a rooftop deck with a dog run and a bike room. There will be parking for 25 cars at the back of the site. Demolition of the existing structures will begin shortly, with completion of the new building planned for 2027. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

July 29, 2026

Acquisitions Indiana Midwest Multifamily

Colliers Arranges Sale of 360-Unit Multifamily Community in Merrillville, Indiana

by Kristin Harlow July 29, 2026

MERRILLVILLE, IND. — Colliers has arranged the sale of The Ridge Apartments in Merrillville within Northwest Indiana. Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner of Colliers represented the owner, Parkmont Group, a real estate investment and operating firm based in New York. Originally developed between 1970 and 1981 and renovated in 2024, the property features a variety of one- and two-bedroom floor plans. Amenities include a sundeck, landscaped courtyards and onsite laundry facilities. Morgan Properties was the buyer.

July 29, 2026

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $16.3M Sale of Chicago Multifamily Property

by Kristin Harlow July 29, 2026

CHICAGO — Kiser Group has brokered the $16.3 million sale of a 65-unit apartment building located at 4601-17 N. Dover St. in Chicago’s Sheridan Park neighborhood. The transaction marks the fifth consecutive sale of the property within a brokerage history spanning nearly three decades involving Kiser brokers. The property first traded for $1.9 million in 1998, followed by sales in 2000 ($3.2 million), 2007 ($7.4 million) and 2020 ($12.5 million). Kiser’s Jacob Price and Katie LeGrand brokered the latest sale. The property sold to a 1031 exchange buyer. The courtyard building features three studios, 45 one-bedroom units, 14 two-bedroom units and three three-bedroom residences. The asset was fully occupied at the time of sale. Approximately 75 percent of the apartments include private balconies. Amenities include a fitness center, landscaped courtyard and individual storage lockers.

July 29, 2026

Development Georgia Southeast Student Housing Uncategorized

Radnor, Madrone to Break Ground on 793-Bed Student Housing Development in Atlanta

by John Nelson July 29, 2026

ATLANTA — A joint venture between Radnor Property Group and the Madrone Community Development Foundation is set to break ground on a 793-bed student housing development located at 850 West End Ave. in Atlanta. The project, which is scheduled for completion in fall 2028, will serve students attending Morehouse and Spelman colleges. The community will offer 305 units in studio, one-, two- and four-bedroom configurations upon completion. Shared amenities are set to include a 24-hour staffed lobby, outdoor recreation space, a fitness center, community lounges, bike storage, dog park and study rooms. The partnership recently reached financial close for the project through the sale of $146.8 million in tax-exempt and taxable bonds issued by the Development Authority of Fulton County, which will loan the proceed of the bonds to Madrone-MS Student Housing, a subsidiary of the Madrone Community Development Foundation. West End Avenue P3 LLC — a joint venture between Morehouse and Spelman colleges — has entered into a 50-year lease agreement with Madrone as part of the transaction. The development team for the project includes Clark Construction, CD Moody Construction, Moody Nolan and Pape-Dawson. Raymond James and Loop Capital Markets served as underwriter for the bond financing. Brailsford & Dunlavey …

July 29, 2026

Development Florida Multifamily Southeast

Capstone Begins Construction on 270-Unit Gateway Apartments in Orlando

by John Nelson July 29, 2026

ORLANDO, FLA. — Capstone Building Corp. has begun construction on The Gateway, a 270-unit luxury apartment community located at 7250 Shadowridge Drive in Orlando. The design-build team includes developer JBL Development LLC and architect Baker Barrios Architects. Located near Airport Lakes Park, the five-story, gated community features smart studio, junior one-bedroom, and one-, two- and three-bedroom floorplans. Amenities will include a heated saltwater pool with private cabanas, outdoor kitchens and fire pits, indoor and outdoor coworking lounges, a fitness center with outdoor fitness equipment, pickleball court, bark park, pet spa and a clubhouse featuring a restaurant and bar, market, tenant kitchen and leisure spaces. The development team expects to deliver The Gateway in late 2027.

July 29, 2026

Acquisitions California Multifamily Seniors Housing Western

Harrison Street Asset Management Sells 136-Unit Seniors Housing Community in Oxnard, California

by Amy Works July 29, 2026

OXNARD, CALIF. — Harrison Street Asset Management has sold Clearwater at Riverpark, a 136-unit independent senior living community in Oxnard. The buyer was an undisclosed S&P 500 company focused on seniors housing. Terms of the transaction were not released. Aaron Rosenzweig and Dan Baker of JLL Capital Markets Sales and Advisory team represented the seller in the deal. Built in 2018 on 3.8 acres, residences in the 153,297-square-foot community feature full kitchens, in-unit washers/dryers and private patios. Community amenities include multiple dining venues, a pool, fitness center, theater, salon and spa, putting green and dog park.

July 29, 2026

Acquisitions California Multifamily Western

CBRE Arranges $25.9M Sale of Ocean Avenue Multifamily Property in Santa Monica, California

by Amy Works July 29, 2026

SANTA MONICA, CALIF. — CBRE has negotiated the $25.9 million sale of a multifamily property along Santa Monica’s Ocean Avenue corridor. The property at 901 Ocean Ave. sold for $23.5 million, with the buyer assuming approximately $2.4 million in transaction-related obligations. A local private investor acquired the asset in an all-cash transaction. The sale was completed through a court-supervised receivership overseen by the Superior Court of California, County of Los Angeles. Priscilla Nee and Dan Blackwell of CBRE represented the court-appointed receiver. Originally constructed in phases between 1961 and 1970, the three-story, 30,954-square-foot building features 28 apartments in an mix of one- and two-bedroom layouts. Multiple residences offer ocean views and private balconies. Community amenities include a rooftop deck, gated garage parking, a pool, controlled access and multiple lounge areas.

July 29, 2026

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