Multifamily Archives - REBusinessOnline

Marcus & Millichap Brokers Sale of 144-Unit Apartment Complex in San Antonio

Taylor Williams — Fri, 27 Feb 2026 15:38:47 +0000

SAN ANTONIO — Marcus & Millichap has brokered the sale of The Annex, a 144-unit apartment complex located about five miles southwest of downtown San Antonio. Built in 1969 and recently renovated, The Annex offers studio, one-, two- and three-bedroom units on a 6.6-acre site. Ben Kalter, Drew Garza and Will Balthrope of Marcus & Millichap brokered the sale, and John Brickson of Marcus & Millichap Capital Corp. provided acquisition financing for the deal. The buyer and seller were not disclosed.

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Marcus & Millichap Negotiates Sale of 420-Unit Affordable Housing Complex on Long Island

Taylor Williams — Fri, 27 Feb 2026 14:19:45 +0000

HEMPSTEAD, N.Y. — Marcus & Millichap has negotiated the sale of Jackson Terrace Apartments, a 420-unit affordable housing complex located in the Long Island community of Hempstead. The six-story building was originally constructed in 1972. Michael Tuccillo of Marcus & Millichap represented the buyer, an affiliate of Hudson Valley Property Group, in the transaction. The seller was self-represented. The new ownership plans to invest about $23 million to upgrade unit interiors, building exteriors and mechanical/utility systems as a means of preserving long-term affordability.

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Walker & Dunlop Arranges $80M Loan for Multifamily Development on Miami’s Bay Harbor Islands

Abby Cox — Fri, 27 Feb 2026 14:07:13 +0000

MIAMI — Walker & Dunlop has arranged $80 million in construction financing for 10290 East Bay Harbor Drive, a luxury multifamily development on Bay Harbor Islands in Miami. Adam Schwartz, Jonathan Schwartz, Aaron Appel, Keith Kurland, Sean Reimer, Michael Diaz and Michael Ianno of Walker & Dunlop arranged the floating-rate, interest-only loan through New York-based Madison Realty Capital on behalf of the borrower, Clara Homes. 10290 East Bay Harbor Drive is the third apartment complex located within a three-phased master-planned development on Bay Harbor Islands. The six-story apartment building will total 250,000 square feet with 77 units, according to South Florida Business Journal, bringing Clara Homes to 150 luxury apartments on the Bay Harbor Islands. Amenities at the complex will include a rooftop swimming pool with panoramic views, fitness center and an outdoor yoga studio. 10290 East Bay Harbor Drive is also situated near Bal Harbour Shops, which is currently undergoing a $550 million redevelopment.

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JCCG Underway on 250-Unit Build-to-Rent Community in Loxley, Alabama

Abby Cox — Fri, 27 Feb 2026 14:04:26 +0000

LOXLEY, ALA. — Jim Chapman Construction Group (JCCG) is underway on the construction of The Cottages at Loxley, a 250-unit build-to-rent residential community located in Loxley, a city in Alabama’s Baldwin County. The firm broke ground on the project in January, with vertical construction slated to begin later this year. Situated on roughly 51 acres along I-10, The Cottages at Loxley will comprise single-family rental homes ranging in size from 1,000 to 1,493 square feet, featuring open-concept layouts and attached private garages. Planned amenities will include a clubhouse, swimming pool, fitness center, onsite property management and 24-hour emergency maintenance. The community is designated to serve families within the Baldwin County Public Schools system, including Loxley Elementary School, Central Baldwin Middle School and Robertsdale High School.

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Thompson Thrift to Develop 300-Unit Multifamily Community in Dacula, Georgia

Abby Cox — Fri, 27 Feb 2026 14:03:20 +0000

DACULA, GA. — Indiana-based Thompson Thrift will develop Lineage, a 300-unit multifamily project in Dacula, an Atlanta suburb in Gwinnett County. The development will be capitalized with equity from Thompson Thrift’s 2026 Multifamily Development LP fund, while PNC Bank will provide construction financing for the project. Lineage marks Thompson Thrift’s 100th multifamily community to be developed nationwide. Spanning nearly 15 acres at the Harbins Road and Ga. State Route 316 interchange, Lineage will comprise four-story buildings with one-, two- and three-bedroom floorplans. Select homes will feature private patio, balcony and yard options, as well as detached garages, high-speed internet access and an Amazon package hub. Amenities will include a golf simulator, swimming pool, fitness center, pickleball court, lounges, coworking and conference space, a dog park, pet spa, outdoor firepits and grilling areas, event space and landscaped courtyards. Additionally, more than 9,500 square feet of street-level retail space will be designed with outdoor seating, “play” space and a designated area for outdoor concerts.

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Maverick, American Mortgage Arrange Construction Financing for $26M Condo Project in Indiana

Kristin Harlow — Fri, 27 Feb 2026 14:01:06 +0000

BLOOMINGTON, IND. — Maverick Commercial Mortgage and American Mortgage & Realty have arranged construction financing for ONE15 Lofts on Kirkwood, a $26 million condominium project in Bloomington. First Farmers Bank & Trust provided the 36-month loan, which features interest-only payments. Construction is underway on the project, which is developed by Randy Lloyd of Clearpath Services. The development site at 115 E. Kirkwood Ave. was formerly a surface parking lot adjacent to CVS and directly across from the historic Buskirk-Chumley Theater. The five-story project will feature 17 luxury condominiums, 90 percent of which are pre-sold. Units will range from 1,600 to over 4,000 square feet. The first two floors will feature a new restaurant concept by Cassady’s, the owners of Uptown Café. The project team includes Kunkel Design Group, Genesis Build and interior designer Lindsay Taylor Bell. Kerry Feigenbaum of FC Tucker/Bloomington Realtors is handling residential sales. Completion is slated for 2027.

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Interra Realty Negotiates $11.7M Sale of Chicago Apartment Building

Kristin Harlow — Fri, 27 Feb 2026 13:49:49 +0000

CHICAGO — Interra Realty has negotiated the $11.7 million sale of a 46-unit apartment building located at 4400 S. Drexel Blvd. in Chicago’s Kenwood neighborhood. Lucas Fryman of Interra represented the buyer and seller, whom Interra represented during the initial 2020 acquisition. The property was 91 percent occupied at the time of sale, and every resident holds a Housing Choice Voucher administered through the Chicago Housing Authority. Built in 1924, the courtyard-style building features predominantly two-bedroom units. Recent renovations reconfigured floor plans to maximize livable square footage without increasing unit count. Residences also received upgraded finishes, individual HVAC systems, dishwashers and in-unit laundry.

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JLL Negotiates Sale of 748-Bed Student Housing Community in San Marcos, Texas

Taylor Williams — Thu, 26 Feb 2026 15:46:01 +0000

SAN MARCOS, TEXAS — JLL has negotiated the sale of Arba San Marcos, a 748-bed student housing community located near the Texas State University campus in San Marcos. Built in 2014, the property offers 240 units in a mix of two-, three- and four-bedroom configurations with bed-to-bath parity. JLL represented the seller, Palatine Capital Partners, an investment firm with offices in Miami, New York City and Los Angeles, in the transaction. The buyer was Miami-based investment firm Centurion Property Group. The sales price was not disclosed.

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Northmarq Arranges $10.7M Sale of Senior Living Portfolio in Madison Metro Area

Kristin Harlow — Thu, 26 Feb 2026 14:09:06 +0000

MADISON AND VERONA, WIS. — Northmarq has arranged the $10.7 million sale of Westminster and Prairie Oaks II, two senior living communities totaling 102 units in the Madison metro area. Both properties operate under low-income housing tax credit restrictions through 2032 and are designated for residents age 55 and older. Westminster in Verona was built in 2003, and Prairie Oaks II in Madison was constructed in 2002. Both feature one- and two-bedroom floor plans with amenities such as underground heated parking, community lounges, fitness and business centers and onsite management. Jake Lamb, Parker Stewart, Dominic Martinez and Alex Malzone of Northmarq represented the seller, Lakeside Capital Advisors. TPW Properties was the buyer.

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Banco Inbursa Provides $150M Construction Loan for South Philadelphia Multifamily Project

Taylor Williams — Thu, 26 Feb 2026 13:39:47 +0000

PHILADELPHIA — Banco Inbursa has provided a $150 million senior construction loan for a multifamily project that will be located within Wharton Piers, a mixed-use waterfront development in South Philadelphia. The project will consist of a 36-story residential building and a single-story commercial building for a total of 620 market-rate apartments and 30,800 square feet of retail space. The borrower/developer is New York City-based Brevet Capital. Construction is expected to begin in early 2027, with leasing to commence in the fourth quarter of 2028. Full completion is slated for the first quarter of 2029.

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CBRE Arranges $40M Construction Loan for Northern New Jersey Multifamily Project

Taylor Williams — Thu, 26 Feb 2026 13:32:35 +0000

MORRISTOWN, N.J. — CBRE has arranged a $40 million construction loan for an 89-unit multifamily project that will be located in the Northern New Jersey community of Morristown. Known as Morristown Station, the development will comprise 76 market-rate apartments and 13 affordable housing units, mostly in two-bedroom floor plans, as well as 5,111 square feet of retail space. Matthew Pizzolato and Josh Stein of CBRE arranged the loan through Truist Bank on behalf of the owner, an entity doing business as Lackawanna Place Morristown Urban Renewal LLC.

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Harbert South Bay to Develop 162-Unit Seniors Housing Project in Dallas

Taylor Williams — Wed, 25 Feb 2026 16:09:01 +0000

DALLAS — Harbert South Bay will develop The Marianne on Inwood, a 162-unit seniors housing project in Dallas. The site is adjacent to the Highland Park area, and the 294,000-square-foot facility will offer independent living, assisted living and memory care residences. Amenities will include multiple dining venues, indoor and outdoor pools, a gym, hair salon, media lounge and a golf simulator. Project partners include Arcadis (architect), Bozzuto Construction (general contractor) and Momentum Senior Living (operator). Construction will begin in the coming weeks, and completion is scheduled for 2027.

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Rockefeller Unveils Alina Apartments at 1072 West Peachtree in Midtown Atlanta

John Nelson — Wed, 25 Feb 2026 15:56:48 +0000

ATLANTA — Rockefeller Group has unveiled plans for Alina, a 357-unit apartment community within the 1072 West Peachtree mixed-use tower in Midtown Atlanta. At 749 feet, the 60-story tower will be the tallest new building to be built in the city in the past three decades, according to Rockefeller. Alina will feature a mix of studio, one-, two- and three-bedroom apartments, as well as penthouse units that feature private parking spaces. Alina’s residents will have access to an acre of indoor and outdoor amenity spaces, including a resort-style pool, pickleball court, dog run on the 20th floor, indoor Yoga and Pilates studio, private training studio and a clubroom with two fireplace lounges, billiards, shuffleboard, an entertaining kitchen, golf simulator and an indoor/outdoor porch lounge. The property will also feature The Pavilion at 1072, which is billed as the largest outdoor deck in Midtown Atlanta. The 1072 West Peachtree tower will also include 224,000 square feet of Class A offices below the apartments and 6,300 square feet of ground-level retail space. Bozzuto will lead leasing efforts for Alina, which is expected to begin in the second quarter. Rockefeller expects to deliver the tower this spring.

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Kane Realty Breaks Ground on 332-Unit Tributary Apartments in Raleigh’s North Hills District

John Nelson — Wed, 25 Feb 2026 15:19:00 +0000

RALEIGH, N.C. — Kane Realty Corp. has broken on Tributary, a multifamily community located within the North Hills Innovation District (NHID) in Raleigh’s North Hills neighborhood. Set to open in spring 2028, the mid-rise property will include 332 apartments, 6,000 square feet of ground-level retail space, two courtyards, a digital content creation studio, wellness center and new greenway connections. The design-build team includes architect Hickok Cole, general contractor John Moriarty & Associates and civil engineer McAdams. Kane Realty is working with the City of Raleigh for Tributary and future phases of NHID to integrate into the city’s road and greenway infrastructure. Additionally, Kane Realty has acquired 28 acres to expand NHID and recently brought in Los Angeles-based McCourt Partners as a development partner. Future projects within NHID will include a residential high-rise and a mixed-use building next to Tributary, as well as mixed-use development along I-440 and pop-up retail and programming. Hush Salon recently opened below Tower 5 at NHID, and upcoming openings include Benchwarmers Bagels and Standard Beer + Food.

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Essex Capital, Ascend Begin Leasing 545-Unit Residences at Front Row in Huntsville

John Nelson — Wed, 25 Feb 2026 15:16:01 +0000

HUNTSVILLE, ALA. — A joint venture between Essex Capital and Ascend Property Group has begun leasing at The Residences at Front Row, a 545-unit multifamily community in downtown Huntsville. Move-ins for the first 190 apartments are targeted for June, according to the development team. The property is the first phase of Front Row, a $220 million mixed-use development that will feature residences, offices and 50,000 square feet of shops and restaurants surrounding a central green space, as well as art installations and outdoor patios. In addition to Essex Capital and Ascend, the development team of The Residences at Front Row includes affiliates of Silverstein Properties, Cantor Fitzgerald and Arctaris Impact Investors. Other project team members include Crunkleton Associates (retail broker), Torti Gallas + Partners and Matheny Goldmon (architects), Vida Design (interior designer), ARCO/Murray (general contractor) and The VOREA Group (construction oversight).

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PSRS Arranges $5.7M Refinancing for Two-Building Multifamily Portfolio in San Diego

Amy Works — Wed, 25 Feb 2026 14:57:50 +0000

SAN DIEGO — PSRS has arranged the $5.7 million refinance of a two-property multifamily portfolio in San Diego. Totaling 24 units, the portfolio consists of an eight-unit building and a 16-unit complex, both of which have undergone interior and exterior renovations as recent as 2020. Trevan Swierczewski and Alexander Santulis of PSRS executed the internal refinance with the existing bank lender, negotiating a prepayment penalty reduction to capture a dip in Treasuries. The resulting nonrecourse loan features a five-year, fixed-rate term and competitive interest-only pricing.

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Nationwide Realty Investors to Redevelop 18-Story Office Tower in Columbus into Mixed-Use Destination

Kristin Harlow — Wed, 25 Feb 2026 14:55:26 +0000

COLUMBUS, OHIO — Nationwide Realty Investors has unveiled plans to redevelop the 18-story office tower at 280 High, formerly known as Two Nationwide Plaza, in downtown Columbus. In celebration of Nationwide’s 100-year anniversary, the building will be renamed The Centennial on High. Residential plans call for 148 upscale units across 15 floors, including a newly created penthouse level. Each residential floor will feature five balcony-adorned units. Amenities will include a fitness center, lounge, clubroom and a courtyard along High Street positioned 15 feet below plaza level. The project will also preserve and enhance the building’s office component, with approximately 75,000 square feet of dedicated office space. Anchor tenants include Carpenter Lipps LLP and the Ohio Farm Bureau. Nationwide began 100 years ago as the Farm Bureau Mutual Automobile Insurance Co. serving Ohio farmers. The commercial spaces are operational today, and Nationwide Realty Investors anticipates completing the first residences by mid-2027.

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Berkadia Arranges $69M in Acquisition Financing for Two Multifamily Properties in Wisconsin

Kristin Harlow — Wed, 25 Feb 2026 14:54:43 +0000

PLEASANT PRAIRIE, WIS. — Berkadia has arranged the sale and $69 million in acquisition financing for Cobblestone Creek and Fountain Ridge, two multifamily properties in Pleasant Prairie within Kenosha County. Pete Evans and Richard Evans of Berkadia represented the undisclosed seller, while Laura Cathlina, Chris Blechschmidt and Emily Stang of Berkadia arranged Freddie Mac financing on behalf of the buyer, Illinois-based Santefort Real Estate Group. Cobblestone Creek is a four-building, 164-unit community built from 2013 to 2015. Fountain Ridge consists of 262 units across 13 buildings and was built from 2017 to 2019. Both properties have been consistently fully occupied and present value-add upside, according to Berkadia.

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Marcus & Millichap Brokers Sale of 108-Unit Alto Apartments in Northwest San Antonio

Taylor Williams — Tue, 24 Feb 2026 16:17:28 +0000

SAN ANTONIO — Marcus & Millichap has brokered the sale of The Alto, a 108-unit apartment complex in northwest San Antonio. Built on 5.7 acres in 1984, The Alto offers one- and two-bedroom units and amenities such as a pool, clubhouse and outdoor lounge areas. Ben Kalter, Drew Garza and Will Balthrope of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Walker & Dunlop Provides $50.5M Agency Refinancing for Apartment Community in Metro Raleigh

John Nelson — Tue, 24 Feb 2026 15:48:52 +0000

KNIGHTDALE, N.C. — Walker & Dunlop has provided a $50.5 million Freddie Mac loan for the refinancing of Parkstone at Knightdale, a 350-unit apartment community located at 1001 Park Commons Drive in Knightdale, an eastern suburb of Raleigh. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Reimer and Jackson Irwin of Walker & Dunlop originated the loan on behalf of the borrower, The Widewaters Group Inc. Apprise, Walker & Dunlop’s independent third-party appraisal platform, appraised the transaction. Parkstone at Knightdale features one-, two- and three-bedroom units, as well as a fitness center, resort-style pool, playground, pet wash station, resident storage units and an outdoor lounge with a grilling station.

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