Multifamily

500-Lynnfield-Street-Lynn-Massachussetts

MassDevelopment Provides $29M in Bond Financing for Affordable Seniors Housing Project in Lynn, Massachusetts

by Taylor Williams June 9, 2026

LYNN, MASS. — MassDevelopment has provided $29 million in tax-exempt bond financing for a 150-unit affordable seniors housing project in Lynn, located northeast of Boston. The financing will support construction of 105 units for the project at 500 Lynnfield St., which is being developed by an affiliate of 2Life Communities. The development will consist of three buildings with 138 one-bedroom units and 12 two-bedroom units that will be reserved for renters earning between 30 and 60 percent of the area median income. Eastern Bank purchased the bond.

June 9, 2026

Acquisitions Loans Multifamily North Carolina Southeast

Mesa West Provides $29.7M Acquisition Loan for Apartment Community in Cary, North Carolina

by John Nelson June 9, 2026

CARY, N.C. — Mesa West Capital has provided a $29.7 million acquisition loan for The Ellery of Cary, a 194-unit apartment community located at 100 Hempstead Court in Cary, a suburb of Raleigh. Trevor Brotman, Tricia Linden and Kara Profitt of Walker & Dunlop’s Irvine, Calif., office arranged the five-year, non-recourse loan on behalf of the borrower, McDowell Properties. The seller and sales price were not disclosed. Built in 1988 on nearly 19 acres, The Ellery of Cary offers a mix of one- and two-bedroom floorplans averaging 875 square feet in size. Amenities include a swimming pool with a sundeck, 24-hour fitness center, dog park, outdoor courtyard with fire pits and grills and walking trails with direct access to the Black Creek Greenway.

June 9, 2026

California Development Multifamily Seniors Housing Western

Bluhm Family Foundation Breaks Ground on 214-Unit Seniors Housing Community in Huntington Beach, California

by Amy Works June 9, 2026

HUNTINGTON BEACH, CALIF. — The Bluhm Family Foundation has broken ground on The Marisol, a 214-unit luxury seniors housing project located in Huntington Beach in Southern California. In May, the developer received $252.1 million in bond financing for the project. Upon completion, the community will feature a mix of studio, one- and two-bedroom apartments. Amenities will include a coffee and snack bar, community store, wellness lounge, pool, spa, beauty salon, golf simulator, gym, art studio, craft studio, community room and three courtyards. The opening is scheduled for 2028. Momentum Senior Living will manage the community.

June 9, 2026

Loans Midwest Minnesota Multifamily

Gantry Arranges $39.5M Permanent Loan for Apartment Complex in Woodbury, Minnesota

by Kristin Harlow June 9, 2026

WOODBURY, MINN. — Gantry has arranged a $39.5 million permanent loan as construction takeout financing for the Edison at Woodbury, an apartment complex located in the Twin Cities suburb of Woodbury. The property features 207 units spread across a podium-style, mid-rise apartment building, satellite townhomes and carriage houses with attached parking garages. Floor plans range from one- to three-bedroom units, and all units contain in-unit washer and dryers, walk-in closets, patios and stainless steel appliances. Amenities include a fitness center, pool and clubhouse facilities. Joe Monteleone and Bonnie Monteleone of Gantry arranged the 10-year, fixed-rate Freddie Mac loan, which features five years of interest-only payments that transitions to 35-year amortization.

June 9, 2026

Development Illinois Midwest Multifamily

Range Group Nears Completion of 72-Unit Luxury Apartment Building in Chicago

by Kristin Harlow June 9, 2026

CHICAGO — Range Group is nearing completion of 465 Carpenter, a 72-unit luxury apartment building on the border of Chicago’s Fulton Market and West Town neighborhoods. Floor plans will consist of studio, convertible, one- and two-bedroom units, and amenities at the five-story boutique property will include a rooftop deck, fitness studio, coworking lounge and pet wash. Cross Street, which is marketing and leasing the building, has begun hard-hat tours with prospective residents ahead of an expected July move-in.

June 9, 2026

Affordable Housing Development Illinois Indiana Loans Michigan Midwest Minnesota Multifamily Wisconsin

Cinnaire Closes $307M LIHTC Equity Fund for 2,259 Affordable Housing Units Across 10 States

by Kristin Harlow June 8, 2026

LANSING, MICH. — Lansing-based Cinnaire has closed a $307 million Low-Income Housing Tax Credit (LIHTC) equity fund, Fund for Housing LP 45, which will finance the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. Fund 45 will support multifamily development in Delaware, Illinois, Indiana, Maryland, Maine, Michigan, Minnesota, Pennsylvania, Virginia and Wisconsin. Specific projects include 3rd Avenue Flats in Dilworth, Minn., and The Argus Apartments in Verona, Wis. A new-construction development, 3rd Avenue Flats will bring 44 affordable housing units, five of which will be reserved for people with disabilities and four of which will be designated for households experiencing high-priority homelessness. The developer, Commonwealth Holdings IV, will partner with Lakes & Prairies Community Action Partnership to provide access to the state’s community coordinated entry system CARES, which provides access to all homeless housing programs as well as emergency resources to prevent households from falling into homelessness. The Argus Apartments is also a new development that will provide 60 affordable housing units, including nine reserved for individuals with developmental, physical or mental disabilities. Social services provider Lutheran Social Services will provide onsite services to the nine Permanent Supportive Housing units. The project developers are …

June 8, 2026

Development Midwest Multifamily Ohio

Krueger Group Opens 25-Unit Rental Townhome Development in Rocky River, Ohio

by Kristin Harlow June 8, 2026

ROCKY RIVER, OHIO — The Krueger Group (TKG) has opened Phase II of ORRIS, which brings 25 rental townhomes along Center Ridge Road in Rocky River, a suburb of Cleveland. Cross Street is handling leasing, marketing and property management. The residences are offered in two- and three-bedroom floor plans with attached two-car garages. The units average 2,600 to 2,700 square feet, with some larger floor plans exceeding 3,000 square feet. Monthly rents start at $4,700. The first phase of ORRIS was completed in 2024 and comprises a 54-unit apartment building. Residents of the townhomes enjoy full access to the amenities within Phase I, including a fitness center, coworking spaces, resident lounge areas, package and mail services, dry cleaning services and an outdoor courtyard.

June 8, 2026

California Loans Multifamily Western

IPA Capital Markets Arranges $123M in Financing for Multifamily Property in Burlingame, California

by Amy Works June 8, 2026

BURLINGAME, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $123 million in debt financing for Anson, a multifamily property in Burlingame. Situated less than four miles from San Francisco International Airport, the property features 268 one-, two- and three-bedroom floor plans with in-unit laundry facilities, stainless steel appliances and private patios or balconies. Community amenities include two courtyards with barbecue grills and hammocks, a fitness center, clubhouse, resort-style pool, pet spa and a coworking lounge. The loan features a interest rate of 5.09 percent, a DSCR of 1.10x and interest-only payments for the term. The financing structure also included $26 million in preferred equity from Tokyu Land US Corp. Brian Eisendrath, Cameron Chalfant, Anita Paryani-Rice and Jesse Zarouk of IPA Capital Markets in Los Angeles secured a five-year loan on behalf of a national multifamily owner, operator and investment firm.

June 8, 2026

Acquisitions Affordable Housing California Multifamily Western

HVPG Acquires Affordable Housing Community in Elk Grove, California, for $83.6M

by Amy Works June 8, 2026

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, located south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 percent of units are further supported by tenant-based vouchers, and income restrictions span from 30 to 80 percent of area median income. The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners, and public finance support facilitated by the California Municipal Finance Authority and the City of Elk Grove. Programming, including after-school services and adult education, will be provided by nonprofit partner Pacific Housing.

June 8, 2026

Acquisitions California Multifamily Western

Marcus & Millichap Brokers $47M Sale of Multifamily Property in Los Angeles

by Amy Works June 8, 2026

LOS ANGELES — Marcus & Millichap has brokered the sale of The Versailles Apartments, a five-story multifamily property located at 8811 Burton Way in Los Angeles. The asset traded for $47 million, or $602,564 per unit. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed, in the transaction. Constructed in 1989, The Versailles Apartments features 78 residences, a rooftop pool and deck, a fitness center, laundry facilities on every floor and two levels of subterranean parking. Apartments include hardwood floors, granite countertops, stainless steel appliances and dishwashers, while select units have washers and dryers.

June 8, 2026

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