Multifamily

Newmark Brokers Sale of 336-Unit Apartment Community in Downtown San Antonio

by Taylor Williams May 22, 2025

SAN ANTONIO — Newmark has brokered the sale of The Flats at Big Tex, a 336-unit apartment community in downtown San Antonio. The property offers studio, one- and two-bedroom units that range in size from 530 to 1,391 square feet. Amenities include a pool, fitness center, rooftop terrace, Wi-Fi café and walking/biking trails. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the undisclosed seller in the transaction. San Antonio-based Kairoi Residential acquired the property. The sales price was not disclosed.

May 22, 2025

Development Florida Multifamily Southeast

Fairfield Delivers Two Multifamily Developments in Fort Lauderdale Totaling 537 Units

by John Nelson May 22, 2025

FORT LAUDERDALE, FLA. — Fairfield, a multifamily developer and owner based in San Diego, has completed construction of Coasterra Apartments in downtown Fort Lauderdale. The mid-rise community has 242 studio, one-, and two-bedroom apartments. Located at 150 SE 3rd Ave. in the Las Olas district, the community is adjacent to the One Financial Plaza office building. Fairfield also recently completed construction of Treo Apartments at 6500 N. Andrews Ave. in Fort Lauderdale. Treo has 295 studio, one- and two-bedroom units.

May 22, 2025

Acquisitions Florida Multifamily Southeast

Berkadia Brokers Sale of 268-Unit West Woods Apartments in Pensacola, Florida

by John Nelson May 22, 2025

PENSACOLA, FLA. — Berkadia has brokered the sale of West Woods Apartments, a 268-unit community located at 3202 W. Nine Mile Road in Pensacola, a city in Florida’s Panhandle near the Alabama border. David Etchison of Berkadia led the transaction on behalf of the seller, Benefit Street Partners. The undisclosed buyer assumed in-place HUD financing as part of the transaction. The sales price was also not released. West Woods was delivered in 2016 and 2017 on a 14-acre site and offers one-, two- and three-bedroom floor plans averaging 1,087 square feet in size. Amenities at the gated-community include a clubhouse, two 24-hour fitness facilities, two resort-style pools, two dog parks, a business center, playground, 24-hour pet spa, car care center, fire pit, ping pong table and detached garage rentals. West Woods was 96 percent occupied at the time of sale.

May 22, 2025

Acquisitions Multifamily Texas

TMG Negotiates Sale of 104-Unit Highland Square Apartments in Alvin, Texas

by Taylor Williams May 22, 2025

ALVIN, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Highland Square, a 104-unit apartment complex located southeast of Houston in Alvin. The complex was built in 1973 and offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. The buyer and seller were not disclosed.

May 22, 2025

The-Parker-East-East-Rutherford-New-Jersey

Development Multifamily New Jersey Northeast

Vango Development Breaks Ground on 86-Unit Multifamily Project in East Rutherford, New Jersey

by Taylor Williams May 22, 2025

EAST RUTHERFORD, N.J. — Vango Development has broken ground on The Parker East, an 86-unit multifamily project located outside of New York City in East Rutherford. The Parker East will offer one- and two-bedroom units that will be furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a fitness center, lounge and clubroom, breakout work areas, a dog spa, rooftop terrace and a central courtyard. MHS Architecture designed the project, and Coli Construction is the general contractor. ConnectOneBank provided a $25 million loan for the construction of The Parker East, which is expected to be complete next summer.

May 22, 2025

Affordable Housing California Development Multifamily Western

EAH Housing to Convert Assisted Living Facility into Affordable Housing Units in Glendale, California

by Amy Works May 22, 2025

GLENDALE, CALIF. — EAH Housing, in collaboration with Egan | Simon Architecture and ICON National, will convert Parkview Glendale, an assisted living facility in Glendale, into an affordable housing property. Originally built in 1973, the former assisted living facility will be adapted to feature 20 studio apartments ranging from 350 square feet to 360 square feet, 47 one-bedroom apartments ranging from 400 square feet to 475 square feet, and a 750-square-foot manager unit. All units will feature energy-efficient appliances, central heat and air and window coverings. Designed to serve older adults earning 30 percent to 60 percent of the area median income, the 43,000-square-foot community will offer a community room, community garden, spacious courtyards, a resident lounge, elevator, onsite laundry, management offices and ample parking. EAH Housing will also provide an onsite resident services coordinator and collaborate with local organizations to offer specialized programs to enhance residents’ well-being.

May 22, 2025

Development Multifamily New York Northeast

Alchemy-ABR Investment Partners Tops Out 45-Unit Apartment Building in Manhattan

by Taylor Williams May 22, 2025

NEW YORK CITY — Alchemy-ABR Investment Partners has topped out a 45-unit apartment building at 288 E. 88th St. on Manhattan’s Upper East Side. Designed by Hill West Architects, the 24-story, 350-foot building will ultimately house 45 residences and offer amenities such as a fitness center, a multipurpose sports court, children’s playroom, media/gaming room, coworking space and a rooftop terrace. Leeding Builders Group is serving as the general contractor for the project, which is expected to open to residents next year.

May 22, 2025

Acquisitions Colorado Multifamily Western

Pinnacle Brokers $3.4M Sale of Value-Add Apartment Property in Boulder, Colorado

by Amy Works May 22, 2025

BOULDER, COLO. — Pinnacle Real Estate Advisors has brokered the sale of 1937 Goss Street, a value-add multifamily property in Boulder. The asset traded for $3.4 million, or $309,091 per unit. The 11-unit building is located in close proximity to the University of Colorado Boulder. Luke Salazar, Robert Lawson and Jim Knowlton of Pinnacle represented the buyer and seller in the deal.

May 22, 2025

Loans Midwest Missouri Multifamily

Gantry Secures $30.3M Loan for Refinancing of Kansas City Multifamily Property

by Kristin Harlow May 22, 2025

KANSAS CITY, MO. — Gantry has secured a $30.3 million permanent loan to refinance bridge financing for the Black Lark Apartments in Kansas City. The Class B, garden-style property underwent a comprehensive renovation program following its acquisition in December 2023. Now fully stabilized, the community features 265 units in one-, two-, three- and four-bedroom layouts. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. A private balance sheet lender provided the five-year, fixed-rate loan, which features a 30-year amortization.

May 22, 2025

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Brokers $8M Sale of Apartment Building in St. Paul

by Kristin Harlow May 22, 2025

ST. PAUL, MINN. — Marcus & Millichap has brokered the $8 million sale of The Jax, a 48-unit apartment building in St. Paul. The 49,082-square-foot property features loft-style units and is situated in the city’s Lowertown neighborhood. Built in 1909 and renovated in 2019, the asset features one- and two-bedroom floor plans. Amenities include a fitness center, community room and yoga studio. Chris Collins, Evan Miller, Eric Wagner and Matt Shide of Marcus & Millichap represented the seller, a local limited liability company, and procured the buyer, a Chicago-based investor.

May 22, 2025

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