NEW YORK CITY — A partnership between Tavros Holdings and Charney Cos. has completed Nevins Landing South, a 22-story apartment building in Brooklyn. The building totals 320 units, 80 of which (25 percent) are reserved as affordable housing, and is part of the 2,200-unit Gowanus Wharf development. Amenities include a pool, spa, fitness center, terrace lounge, coworking suite, entertainment lounge and a golf simulator, and the building also houses 29,000 square feet of retail space. Fogarty Finger served as project architect. Affinius Capital and Kennedy Wilson provided construction financing for the project. Leasing began late this summer, at which point rents started at $3,250 per month for a studio apartment.
DOWNINGTOWN, PA. — CBRE has arranged $85 million in financing for Mi-Place at Downingtown, a 318-unit apartment community located on the western outskirts of Philadelphia. The property features one-, two- and three-bedroom units and amenities such as a pool, clubhouse, fitness center, pickleball courts and a dog park. Matthew Klauer and Cassandra Russell of CBRE arranged the loan through Barings on behalf of the owner, Fernmoor Homes.
RENO, NEV. — Dwight Investment Management, an affiliate of Dwight Capital, has closed a $73 million bridge refinancing for Ballpark Apartments in Reno. Brandon Baksh, Tommy Ng and Talisse Thompson of Dwight Investment Management originated the loan on behalf of the borrower, a joint venture between Bridge Investment and Pacific Development. Loan proceeds were used to refinance existing senior debt, fund an interest reserve, cover transaction costs and return equity to the borrower. The 486,000-square-foot Ballpark Apartments community spans a city block in downtown Reno. The five-story property features 368 apartments, a pool, spa, 24-hour fitness center and a rooftop lounge overlooking Greater Nevada Field, a minor league baseball venue.
MIDLOTHIAN, VA. — Newmark has arranged the $108 million sale of Bainbridge Midlothian, a 310-unit, Class A apartment community located at 12400 Dutton Road in Midlothian, a suburb of Richmond in Chesterfield County. Frontier Group of Cos. acquired the property from a joint venture between The Bainbridge Cos. and BVT National Partners. Bainbridge Midlothian represents Frontier’s first multifamily acquisition in Virginia. Garrison Gore, Charles Wentworth and Victoria Pickett of Newmark represented the seller in the transaction. Frontier has retained Bainbridge Cos. to manage the property. Built in 2024 on 25.8 acres, Bainbridge Midlothian features a mix of studio, one-, two- and three-bedroom apartments averaging 1,017 square feet in size. Amenities include a resort-style saltwater swimming pool, 24-hour fitness center, clubhouse, coworking spaces, pickleball court, dog park and private wooded walking trails.
CLARKSVILLE, IND. — Northmarq has brokered the sale of The Bend Apartments, a 312-unit luxury apartment community in Clarksville. Built in 2023, the property features one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse, ping pong and shuffleboard tables, onsite parking and a dog park. Bobby Schiavone, Jordan Arand and Adam Klenk of Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor.
PARAMUS, N.J. — PCCP has provided a $163.9 million senior loan to a joint venture between Russo Development and Kushner Real Estate Group for the construction of The Paramus Chapter, a 426-unit multifamily project in suburban New York City. The joint venture acquired the land in May 2025. Construction began in July 2026, and completion is slated for the fourth quarter of 2028. The Paramus Chapter will consist of two four-story buildings over concrete podiums with 810 parking spaces and approximately 5,300 square feet of ground-floor retail space. Both buildings will have separate entrances, parking and amenities. Building A will include 166 units, comprising 138 market-rate apartments and 18 affordable units. Amenities will include an outdoor pool, 2,200-square-foot gym, game room, theater, karaoke lounge, sports simulator, rentable party room, dog run and 3,400 square feet of coworking space. Building B will feature 260 units, comprising 222 market-rate residences and 38 affordable units. Amenities will include a full-time concierge, leasing center, 2,800-square-foot gym, chef’s kitchen, gardening room and two outdoor courtyards. The project site is directly adjacent to Bergen Town Center, which features more than 1 million square feet of retail space anchored by Whole Foods Market and Target. PCCP, a …
DENVER — JLL Capital Markets has arranged $333.3 million in bridge financing for Palomino Park, a 1,184-unit multifamily portfolio located in Highlands Ranch, an unincorporated, master-planned community 12 miles south of Denver. Greystar provided the floating-rate loan for the borrower, a real estate fund advised by Crow Holdings Capital. The financing, which includes $325 million at initial funding and $8.3 million in future funding for unit renovations, retired existing loans and provides capital for continued value-add projects across the three-community portfolio. The portfolio includes: The communities are anchored by the Colorado Club, a 26,000-square-foot central amenity facility with a resort-style pool, a gym with regulation basketball court and racquetball courts, a full-service bar and resident gathering areas. Additionally, the facility is surround by a 17-acre park with three tennis courts, two full-size sports fields and a playground. Since acquiring the assets in 2021, the borrower has invested significant capital in various interior and exterior capital improvements across each community. Trey Morsbach, Campbell Roche, Tony Nargi, Jarrod McCabe, Jordan Buck and Scott Cole of JLL represented the borrower in the financing.
SAN DIEGO — A joint venture between Akara Partners and Development Ventures (DEVEN) Group is set to break ground on a 305-bed, transit-oriented development located at 5077 College Ave. near the San Diego State University campus in California. The eight-story community will span 98,500 square feet and offer 110 units. The project is scheduled for completion ahead of the 2028-2029 academic year. The partnership was facilitated by JLL Capital Markets.
MCKINNEY, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, is underway on the $19.3 million renovation of Skyway Villas, a 232-unit complex in the northern Dallas suburb of McKinney. The 13-buiding community was constructed in 2003. The renovation is part of a re-syndication that will preserve the property’s affordability status for another 30 years. Upgrades will include new flooring and countertops, fresh exterior painting, new water heaters and HVAC systems, accessibility improvements and enhancements and additions to the residential amenities.
SEATTLE — Rise Properties Trust has completed the disposition of Northline, a multifamily asset in Seattle’s Bitter Lake neighborhood. FPA Multifamily acquired the property for $17.7 million, or $159,910 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Northline features 111 one- and two-bedroom apartments with open-concept layouts, updated kitchens, stainless steel appliances, wood-style flooring, wood-burning fireplaces and in-home laundry. Select units offer vaulted ceilings, sunken living rooms and private patios. Onsite amenities include a resident lounge, dog park and a covered outdoor gathering area with a barbecue, fireplace and seating.
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