Multifamily

HPI Breaks Ground on 396-Unit Multifamily Project in North Austin

by Taylor Williams October 16, 2026

AUSTIN, TEXAS — Austin-based HPI Real Estate Services & Investments has broken ground on The Kent, a seven-story, 396-unit apartment project that will be located near The Domain on the state capital’s north side. Specific information on floor plans and amenities was not disclosed. HPI is developing The Kent in partnership with multiple private investors. Belshaw Mulholland Architects designed the project, and Austin-based OHT Partners is serving as the general contractor. Completion is slated for mid-2029.

October 16, 2026

Development Florida Loans Multifamily Southeast

Newmark Arranges $76.2M in Bridge Financing for New Orlando Multifamily Community

by Abby Cox October 16, 2026

ORLANDO, FLA. — Newmark has arranged $76.2 million in construction take-out bridge financing for Citron at The Packing District, a 354-unit multifamily community in Orlando. Matthew Williams, Rob Wright, David Williams, Kyle Schlitt and James Maynard of Newmark secured the financing on behalf of the landlord, EMBREY. The multifamily community is situated within the $700 million Packing District, a 202-acre mixed-use redevelopment that offers access to retail, dining and employment centers, as well as Publix and the Great Southern Box Co. food hall. The former property was a historical industrial zone and former cypress swamp that served as the 20th-century epicenter of Central Florida’s citrus industry. Dr. Phillips Charities, along with its affiliated entity Dr. Phillips Inc., is the master developer of the district. Delivered in 2025, Citron comprises a five-story residential building with one- and two-bedroom floorplans ranging in size from 632 to 1,346 square feet, according to Apartments.com. Amenities at the property include a top-floor deck with a media room; resort-style swimming pool with an adjacent lounge and poolside cabanas; a Wi-Fi lounge with a conference room and dedicated micro-offices; and an adjoining six-story structured parking garage.

October 16, 2026

Development District of Columbia Multifamily Office Southeast

National Real Estate Advisors Opens Office-to-Residential Conversion Project in D.C.

by Abby Cox October 16, 2026

WASHINGTON, D.C. — National Real Estate Advisors has opened Aviator House, an office-to-residential adaptive reuse development located in the Dupont Circle neighborhood of Washington, D.C. The former Air Line Pilots Association headquarters was transformed into 157 residential units, including 15 affordable units. Aviator House was the first project advanced through and opened under the District’s Housing in Downtown (HID) initiative. The project team included Clark Construction (general contractor), Eric Colbert & Associates (architect/design), Gaëtane & Co. (architect/design), DXA Studio and Neoscape (interior and brand design). Bozzuto will serve as the community’s leasing and property management partner. Aviator House offers studio, one- and two-bedroom apartments ranging in size from 416 to 1,281 square feet. Residents have access to approximately 8,000 square feet of amenities, including coworking spaces with individual and shared offices; a fitness center; pet spa and dog run; bicycle garage; and a bi-level rooftop lounge featuring indoor gathering spaces, outdoor terraces, grill and dining areas and expansive views across the District. Monthly rental rates begin at $2,275. Originally constructed in 1972 and designed by architect Vlastimil Koubek, the building was most recently used by Johns Hopkins University for classroom and office space. The redevelopment retains its eight-story structure and modernist …

October 16, 2026

Affordable Housing Loans Multifamily New York Northeast

Merchants Bank Provides $27.5M in Financing for Brooklyn Affordable Housing Complex

by Taylor Williams October 16, 2026

NEW YORK CITY — Merchants Bank has provided $27.5 million in bridge financing for the acquisition and rehabilitation of Restore Housing Apartments, a 138-unit affordable housing complex in Brooklyn. The borrower is local owner-operator Tredway. The property offers one-, two-, three- and four-bedroom apartments that are reserved for households earning 50 percent or less of the area median income. The capital improvements, which are valued at $10 million and will preserve the property’s affordability status for another 99 years, will include new lobbies, kitchens, bathrooms, energy-efficient appliances and a rooftop solar installation.

October 16, 2026

Acquisitions Multifamily New Jersey Northeast

ICON Real Estate Negotiates $4.1M Sale of Apartment Building in Bayonne, New Jersey

by Taylor Williams October 16, 2026

BAYONNE, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $4.1 million sale of a 25-unit apartment building in the Northern New Jersey community of Bayonne. According to Apartments.com, the building at 5-7 Kelly Parkway exclusively offers one-bedroom units. David Betesh of ICON Real Estate Advisors represented the seller, a local family, in the transaction and procured the undisclosed buyer.

October 16, 2026

Arizona Development Loans Multifamily Western

Max Benjamin Partners Arranges $74.8M in Construction Financing for Townhome Property in Flagstaff, Arizona

by Amy Works October 16, 2026

FLAGSTAFF, ARIZ. — Beverly Hills, Calif.-based Max Benjamin Partners has secured a $74.8 million nonrecourse loan for Red Oak Development for the construction of Pine Haven, a townhome property located at 2951 S. Masonic Lane in Flagstaff. Cameron Lind of Max Benjamin Partners arranged the loan for the borrower. Totaling 83 townhomes, Pine Haven will offer three home collections — Ponderosa, Aspen and Juniper — each a three-bedroom, 2.5-bath townhome with a two-car garage and indoor/outdoor living space. The development will also include a dedicated wellness amenity center with a cold plunge, a Spanish cedar sauna and a Japanese meditation room. Situated on 13.8 acres in Arizona’s Coconino National Forest, roughly half of the property will remain preserved as forest. The community is backed by an extensive public trail system and will have dark-sky compliant lighting throughout. First unit sales are expected to commence in late 2027.

October 16, 2026

California Development Multifamily Western

National City Investment Group Breaks Ground on 120-Unit Apartment Community in California

by Amy Works October 16, 2026

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a workforce apartment property at 303 Highland Ave. in National City. Slated for completion in first-quarter 2028, the project will transform an underutilized parking lot adjacent to Manolo Farmers Market. Market View will offer 120 studio, one- and two-bedroom layouts in three residential buildings linked by open space, pedestrian connectivity and Manolo Farmers Market. The community will feature shared spaces, private outdoor areas, a shared rooftop deck, coworking area at the ground-floor lobby, community room opening to outdoor space, a guest suite planned for future resident use and a wellness center with an outdoor yoga deck. The project team includes RDC as architect, R.D. Olson Construction as general contractor and McCullough Landscape Architecture as landscape designer. The National City Investment Group is a locally owned, privately held real estate investment company whose members have longstanding business ties to the South San Diego community.

October 16, 2026

Acquisitions California Multifamily Western

Colliers Brokers Sale of Two-Property Multifamily Portfolio in Fallbrook, California for $37M

by Amy Works October 16, 2026

FALLBROOK, CALIF. — Colliers has arranged the sale of a two-property multifamily portfolio, totaling approximately $37 million, in Fallbrook. The portfolio includes Amberwood Apartments, a 133-unit property at 923 Alturas Road, that sold for $24.2 million, and Rosewood Apartments, a 73-unit community at 338 Ammunition Road, that sold for $12.4 million. Shane Shafer and Brian Anderson of Colliers represented the sellers, Amber Creek Associates LTD and Rosewood Associates LTD, respectively, in the transactions. The names of the buyers were not disclosed.

October 16, 2026

Affordable Housing Development Indiana Midwest Multifamily

Annex Group Breaks Ground on $71M Affordable Housing Community in Indianapolis

by Kristin Harlow October 16, 2026

INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community just south of downtown Indianapolis. The $71 million project will offer one-, two- and three-bedroom units to households earning between 50 and 60 percent of the area median income. Amenities will include a community center, fitness center, business center, dog park, garden area, playground and picnic area. Annex’s partnership with the McKenzie Center for Innovation and Technology will create hands-on learning and career development opportunities for locals through Annex University, an initiative launched earlier this year. Project partners for Central at Old Southside include BVH Architecture, CEC as civil engineer and Impact Housing Indiana Corp., an organization dedicated to supporting residents of affordable housing communities within Annex’s portfolio. The City of Indianapolis awarded the project with a 15-year PILOT, and Indiana Housing and Community Development Authority (IHCDA) provided $500,000 in soft funding as well as $33.5 million in tax-exempt bonds. Bank of America provided approximately $30 million in total equity as well as $53 million in construction financing, while Merchants Capital provided more than $30.7 million in permanent debt financing.

October 16, 2026

Acquisitions Midwest Multifamily Wisconsin

Berkadia Arranges Sale of 458-Unit Multifamily Property in Mount Pleasant, Wisconsin

by Kristin Harlow October 16, 2026

MOUNT PLEASANT, WIS. — Berkadia has arranged the sale of Tivoli Green, a 458-unit multifamily property in Mount Pleasant. Pete Evans and Richard Evans of Berkadia represented the seller, Wangard Partners Inc. The buyer was Illinois-based Santefort Real Estate Group LLC. Wangard has been retained to provide third-party management services for the community. Chris Blechschmidt and Emily Stang of Berkadia arranged acquisition financing through Freddie Mac. Tivoli Green was delivered in three phases from 2021 to 2024. The 22-building property is situated on 38 acres and features two-story townhomes.

October 16, 2026

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