Wednesday, September 17, 2025
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Multifamily

Ovation-at-Galatyn-Park-Richardson
AcquisitionsMultifamilyTexas

MG Properties Buys 361-Unit Ovation at Galatyn Park Apartments in Metro Dallas

by Taylor Williams

RICHARDSON, TEXAS — San Diego-based investment firm MG Properties has purchased Ovation at Galatyn Park, a 361-unit apartment community in the northeastern Dallas suburb of Richardson. Designed by WDG Architecture, Ovation at Galatyn Park offers one-, two- and three-bedroom units that range in size from 500 to 1,700 square feet and are furnished with quartz countertops and various smart-home technologies. Amenities include a pool, fitness center, sky lounge, outdoor game room, arcade, billiards room and a podcast studio. Daniel Baker, Johnathan Makus, Kevin O’Boyle and Chandler Sims of CBRE represented the seller, a partnership between San Francisco-based Legacy Partners and Bridge Investment Group, which completed the project last spring, in the transaction.

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626-Newark-Jersey-City
LoansMultifamilyNew JerseyNortheastWalker & Dunlop

Walker & Dunlop Arranges $220M Loan for Refinancing of Jersey City Apartment Building

by Taylor Williams

JERSEY CITY, N.J. — Walker & Dunlop has arranged a $220 million bridge loan for the refinancing of 626 Newark, a 576-unit apartment building in Jersey City. The newly built, 27-story building is located in the city’s Jersey Square neighborhood and includes 27,662 square feet of commercial space. According to Apartments.com, units come in studio, one- and two-bedroom floor plans, and amenities include a fitness center, arcade, bowling alley, music studio and a golf simulator. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Edward Leboyer of Walker & Dunlop arranged the loan through TYKO Capital on behalf of the borrower, Namdar Group. SCALE Lending provided the original $160 million construction loan for the property in early 2024.

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AcquisitionsNorth CarolinaSoutheastStudent HousingWalker & Dunlop

Walker & Dunlop Arranges Sale of 576-Bed Student Housing Community Near Appalachian State University

by John Nelson

BOONE, N.C. — Walker & Dunlop has arranged the sale of Mountaineer Village, a 576-bed student housing community located near the Appalachian State University campus in Boone. Chris Epp, Matthew Chase, Craig Miller, Holden Penn, Ben Sarna, Sarah Foronda and Naomi Bludworth of Walker & Dunlop represented the seller, a joint venture between Coastal Ridge Real Estate and Heitman, in the disposition. The buyer and terms of the transaction were not released. Mountaineer Village offers three-bedroom units with bed-to-bath parity. Shared amenities include a study lounge, fitness center, resort-style pool, business center, basketball court, barbecue area, game room, sand volleyball court, pickleball courts and a fire pit.

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Build-to-RentDevelopmentMultifamilySingle-Family RentalSouth CarolinaSoutheast

Middle Street, Singerman to Develop 71-Unit Build-to-Rent Community in Charleston

by John Nelson

CHARLESTON, S.C. — Locally based Middle Street Partners and Chicago-based Singerman Real Estate plan to develop Atlantic St. Thomas, a new 71-unit build-to-rent (BTR) residential community in Charleston. The townhome property will be located at 2815 Clements Ferry Road on Charleston’s Daniel Island. Atlantic St. Thomas will have an amenity package that includes a resort-style pool, clubhouse, fitness center, working space and a lounge. The property will include two- and three-bedroom, three-story townhomes ranging in size from 1,565 to 2,500 square feet. Units will include single and two-car garages, rooftop terraces and dens in select three-bedroom townhomes. The co-developers will welcome residents at Atlantic St. Thomas, which represents Middle Street’s first BTR community, in spring 2027. The project team includes general contractor Middle Street Construction, civil engineer Sitecast, land planner Cissell Design Studio, landscape architect Studioforme and architect Terminus Design Group.

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Broadstone-Los-Feliz-Los-Angeles-CA
CaliforniaLoansMultifamilyWestern

Mesa West Capital Provides $43.5M Loan for Refinancing of Apartment Community in Los Angeles

by Amy Works

LOS ANGELES — Mesa West Capital has provided a joint venture between Alliance Residential and PCCP with $43.5 million in short-term, first mortgage debt to refinance Broadstone Los Feliz, a multifamily property located at 1800 N. New Hampshire in Los Angeles’ Los Feliz neighborhood. Troy Tegeler, Trevor Breaux, Ryan Greer and CJ Connolly of CBRE arranged the five-year, floating-rate loan. Built in 1986, Broadstone Los Feliz offers 134 studio, one- and two-bedroom apartments, a rooftop lounge and barbecue area, an indoor swimming pool and spa, a fitness center and electric vehicle charging stations. At the time of financing, the property was 95 percent occupied. Since acquiring the asset in 2022, the owners have invested more than $1 million to upgrade the common areas and renovate the interiors of 33 units with hardwood flooring, quartz countertops, stainless steel appliances and new wood-grain cabinets. The sponsor plans to renovate the remaining 45 units within the next two years.

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AcquisitionsConnecticutMultifamilyNortheastSeniors Housing

Benchmark Senior Living, National Development Buy 71-Unit Complex in Newtown, Connecticut

by Taylor Williams

NEWTOWN, CONN. — A partnership between an affiliate of Benchmark Senior Living and National Development has purchased Church Hill Village, a 71-unit seniors housing property in Newtown, located in southern Connecticut’s Fairfield County. The facility offers independent living, assisted living and memory care services. Amenities include several dining venues, a creative studio, entertainment room, hair salon, physical therapy room and a putting green. Webster Bank financed the acquisition. The seller and sales price were not disclosed. The new ownership has rebranded the facility as Benchmark at Newtown.

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Alliance-Residential-Apts-Lakewood-WA
AcquisitionsDevelopmentMultifamilyWashingtonWestern

Alliance Residential Acquires 9.7-Acre Development Site in Lakewood, Washington

by Amy Works

LAKEWOOD, WASH. — Alliance Residential has purchased a 9.7-acre development site within Lakewood Towne Center, a retail destination in Lakewood. The site is slated for the development of a 285-unit Class A apartment community that will include units under the City of Lakewood’s Multifamily Tax Exemption program. The new multifamily property will help address the growing housing demand in Lakewood, where only one new 100-plus market-rate apartment development has been delivered since 2011. Ross Klinger and Austin Kelley of Kidder Mathews represented the undisclosed seller in the deal. Terms of the transaction were not disclosed.

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

Walters Completes 70-Unit Affordable Housing Project in Lacey, New Jersey

by Taylor Williams

LACEY, N.J. — New Jersey-based developer Walters has completed Cornerstone at Lacey III, a 70-unit affordable housing project located near the Jersey Shore. The building is part of the larger development that consists of 23 buildings totaling 188 units in one-, two- and three-bedroom floor plans. Residences are reserved for households earning 60 percent or less of the area median income. Amenities include a clubhouse with computer workstations, fitness center, children’s tot lot, barbecue and picnic area and a basketball half court. Residents also have access to a staffed social services coordinator upon request.

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AcquisitionsIndianaLoansMidwestMultifamily

Greystone Structures $31.3M in Acquisition Financing for Multifamily Property in Merrillville, Indiana

by Kristin Harlow

MERRILLVILLE, IND. — Greystone has provided a $26.3 million Freddie Mac loan to finance the acquisition of Tiberon Trails Apartments in Merrillville. Additionally, Greystone Equity Services brought in MORE Capital, an affiliate of Morgan Properties, as a preferred equity provider. MORE Capital supplied a nearly $5 million preferred equity loan in conjunction with the Freddie Mac financing. Eric Rosenstock of Greystone originated the Freddie Mac loan on behalf of the borrower, Bayshore Properties. The loan features a fixed interest rate over a five-year term with a 30-year amortization and two years of interest-only payments. Tiberon Trails comprises 374 units with a mix of studio, one-, two- and three-bedroom layouts. Amenities include a playground and fitness center.  

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AcquisitionsMidwestMissouriMultifamily

EHP Capital, Aspen Funds Buy Hunters Glen Apartments in Kansas City for $27M

by Kristin Harlow

KANSAS CITY, MO. — EHP Capital and Aspen Funds have purchased Hunters Glen Apartments in Kansas City for $27 million. The partnership will launch a comprehensive renovation plan to modernize interiors and upgrade amenities at the 253-unit multifamily community. The property was built in 1975 and includes studio through three-bedroom floor plans ranging from 506 to 1,127 square feet, according to Apartments.com.

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