COLLEGE STATION, TEXAS — Subtext, a student housing and multifamily owner-operator based in St. Louis, in partnership with Larson Capital Management, has broken ground on a 1,193-bed student housing project near Texas A&M University in College Station. Known as VERVE College Station, the 21-story, 392-unit building will be situated in the city’s Northgate Entertainment District, less than two blocks from campus. Residences will come in studio to five-bedroom floor plans, and amenities will include a pool, lounge, sky lounge, study rooms, a coffee bar, fitness center, meditation rooms, multi-sport simulator and an indoor/outdoor bar and kitchen. Hoar Construction is serving as the general contractor for the project, which is slated for a summer 2028 completion.
Multifamily
IRVING, TEXAS — Partners Real Estate has brokered the sale of Embassy Apartments, a 111-unit multifamily complex in Irving. According to Apartments.com, the property offers one-, two- and three-bedroom units, as well as onsite laundry facilities. Preston Browne and Scott Lunine of Partners brokered the deal, which traded at a per-unit price of roughly $125,000. The seller and buyer were not disclosed.
REVERE, MASS. — A partnership between regional developer HYM Investment Group, private investment group Cathexis Holdings and Related Fund Management has broken ground on Portico, a 473-unit multifamily project in Revere, located northeast of Boston. The site is located within Suffolk Downs, a 161-acre, mixed-use redevelopment of a former horseracing complex. Portico will offer studio, one- and two-bedroom floor plans and 33,000 square feet of ground-floor retail space. Amenities will include a sky deck, lounge with a kitchen, courtyard with flex spaces and grilling stations, recording pods, a fitness center and a veranda with a coffee bar and private workspaces. Prellwitz Chilinski Architects is designing the project, and Suffolk Construction is serving as the general contractor. Completion is slated for early 2028.
GARDENA, CALIF. — Cityview and Stockbridge have completed Apollo, an apartment property located at 12888 Crenshaw Blvd. in Gardena. The project team includes Westport Construction, AC Martin, Nadia Geller Designs and MJS Landscape Architecture. The eight-story Apollo features 265 studio, one- and two-bedroom floor plans with full-size in-unit washers/dryers, luxury vinyl plank flooring, stainless steel appliances, quartz countertops, designer backsplashes, soft-close cabinetry, under-cabinet lighting and gas ranges. The units also include smart home systems, including thermostats and keyless entry, and smart lighting switches in select units. Additionally, some units offer floor-to-ceiling windows, private balconies and walk-in closets. Community amenities include community-wide high-speed internet and Wi-Fi connectivity, a pool, spa, terrace with lounge seating, an outdoor kitchen, a media and club room, an outdoor game deck, an indoor sports simulator, an indoor fitness center, an outdoor training deck and CV Works coworking space with high-speed Wi-Fi and tech-enabled workspaces. The property also features covered bike storage, electric vehicle charging stations, a parcel room, controlled access parking and a pet-friendly playground and wash station.
RICHTON PARK, ILL. — Marcus & Millichap has arranged the sale of Carriage Creek Apartments, a 226-unit multifamily property in the southern Chicago suburb of Richton Park. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors. Located at 22501 Butterfield Road, the property comprises 190,328 rentable square feet across nearly 26 acres. Built in two phases in 1972 and 1974, the community features a mix of studio, one- and two-bedroom units. The asset is within walking distance of the Richton Park Metra Station.
AUSTIN, TEXAS — Locally based general contractor OHT Partners has broken ground on The Martin, a 375-unit multifamily project in East Austin. The Martin will offer one- and two-bedroom units that will range in size from 550 to 1,400 square feet, with 37 residences to be set aside as affordable housing for households earning up to 50 percent of area median income. Amenities will include two pools, a jumbotron, fitness center, golf simulator, a karaoke and multimedia room, podcast rooms, dog park, coworking spaces and a dedicated rideshare lounge. Completion is slated for fall 2028. Project partners include architect Omniplan, civil engineer 360 Professional Services, structural engineer Urban Structure, MEP consultant Basharkhah Engineering, interior designer Ink + Oro and landscape architect KW Landscape Architects.
NEW YORK CITY — Affinius Capital has provided a $115 million loan for the refinancing of 162 East 36th Street, a 22-story multifamily project that is under construction in Manhattan’s Murray Hill neighborhood. The 160-unit building will ultimately house 87 studios, 46 one-bedroom apartments and 27 two-bedroom residences, as well as 3,700 square feet of retail space. Amenities will include a rooftop lounge, fitness center, resident’s club, pet spa, coworking spaces and rentable storage space. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, a partnership between Ranco Capital and the Gilardian Family. Proceeds will be used to complete construction and stabilize occupancy.
Broadview Real Estate Partners Sells 100-Unit Seniors Housing Community in North Tustin, California
by Amy Works
NORTH TUSTIN, CALIF. — Broadview Real Estate Partners has completed the sale of Clearwater at North Tustin, a seniors housing property in North Tustin, to Health Wave Partners for an undisclosed price. Aaron Rosenzweig and Dan Baker of JLL’s Seniors Housing Capital Markets team represented the seller and procured the buyer in the transaction. JLL’s Debt Advisory team arranged acquisition financing on behalf of the buyer through a large national bank. Built in 2001, Clearwater at North Tustin consists of two acuity-specific, single-story buildings offering assisted living and memory care. Onsite amenities include restaurant-style dining, an outdoor amphitheater, music garden, salon and spa, an art studio, a wellness center, dog park and four distinct resident courtyards. The community is situated on 6.6 acres at 11901 Newport Ave.
PALATINE, ILL. — ARTISAN Capital Group (ACG) has acquired Arrowhead Apartments, a 200-unit, garden-style apartment community in Palatine, a northwest suburb of Chicago. ACG partnered with Eastham Capital on the transaction, marking the firms’ fifth acquisition together. The investment marks ACG’s second acquisition in the Chicago market. Arrowhead Apartments consists of nine two- and three-story buildings with 102 one-bedroom units, 78 two-bedroom units and 20 three-bedroom residences. Amenities include a clubhouse, fitness center and dog park. ACG plans to increase value through operational efficiencies and professional investment oversight. ARTISAN Management Group, ACG’s management vertical, will oversee operations. ACG secured financing through HUD. Scott Harris of Marcus & Millichap represented the seller, a joint venture with Hispanic Housing Development Corp. as the managing partner, and procured the buyer. Forty of the units have a Housing Assistance Payments contract that runs through 2039, according to Harris.
ST. LOUIS AND FESTUS, MO. — Sansone Group and Mia Rose Holdings LLC have created a strategic partnership to collaborate on select multifamily and mixed-use opportunities. The partnership will leverage the firms’ combined expertise in site selection, design oversight, construction management and asset performance. Festus, Mo.-based Mia Rose Holdings has delivered more than 3,000 residential units across 18 communities. St. Louis-based Sansone Group has developed more than 50 million square feet nationwide. The firms will share project-specific announcements resulting from the partnership in the near future.
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