Multifamily Archives - REBusinessOnline

Guardian Acquires 332-Unit Ladd Tower Apartment Building in Downtown Portland

Amy Works — Fri, 15 May 2026 13:30:15 +0000

PORTLAND, ORE. — Guardian has purchased Ladd Tower, an apartment building located at 1300 S.W. Park Ave. in downtown Portland, for an undisclosed price. Josh McDonald and Joe Nydahl of CBRE, along with Jesse Weber and Andrew Behrens of CBRE’s Debt & Structured Finance team, represented the buyer and undisclosed seller in the deal. The 23-story Ladd Tower features 332 Class A apartments and is adjacent to the South Park Blocks and within walking distance of Portland State University, public transit and major downtown employers.

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CFAM, RPM Living Acquire 380-Unit Waterfront Multifamily Community in North Miami

Abby Cox — Fri, 15 May 2026 13:20:22 +0000

NORTH MIAMI, FLA. — A joint venture between affiliates of Cantor Fitzgerald Asset Management (CFAM), the investment and asset management division of Cantor Fitzgerald, and RPM Living, have acquired Biscayne Shores, a 380-unit waterfront multifamily community located in North Miami. Miami-based Integra Investments, in partnership with Andrew Korge of Korgeous Group and David Larson of DCL Capital, developed the property in 2024. The purchase price was $151 million, according to various media outlets. Spanning 8.2 acres, the 15-story tower comprises 288 apartments and 92 townhomes ranging in configuration from studios to three-bedroom units. Biscayne Shores also offers approximately 15,000 square feet of amenity space that includes a fitness center, swimming pool, children’s playroom and a rooftop terrace.

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Aventon Breaks Ground on 270-Unit Residential Development in Tampa

Abby Cox — Fri, 15 May 2026 13:19:33 +0000

TAMPA, FLA. — Aventon Cos. has broken ground on Aventon Eva, a 270-unit multifamily development located at the intersection of Little and Decubellis roads in Tampa. The developer will begin leasing the three-story, garden-style complex in July 2027. Aventon Eva will offer one-, two- and three-bedroom floorplans, as well as a resort-style swimming pool, clubhouse with dedicated remote workspace, pet spa and a 24/7 fitness center. The property marks Aventon’s third ground-up community in the Tampa Bay region. The project team includes Cormia Design (architect) and Studio 5 Interiors (interior designer).

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Alliance Residential to Develop 312-Unit Apartment Community in Mt. Juliet, Tennessee

Abby Cox — Fri, 15 May 2026 13:18:26 +0000

MT. JULIET, TENN. — Alliance Residential has purchased 10 acres within McFarland Farms, a 110-acre mixed-use project in Mt. Juliet, approximately 17 miles east of Nashville. The Scottsdale, Ariz.-based developer plans to build a 312-unit apartment community on the site. Eric Deems and George Schubert of Atlanta-based Land Advisors Organization represented Alliance Residential in the land transaction. Further details of the multifamily development were not released. In addition to the new apartments, McFarland Farms will include a town center that compromises a mix of 184 townhomes and 175 single-family homes, as well as 35,000 square feet of commercial space for restaurants, retail and entertainment uses; a 4,300-square-foot public greenway; dog park; and a community amphitheater. The five-phase development, which broke ground in early 2025, is being developed by Tulit Investment and is expected to be fully delivered in 2030.

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Chozick Realty Arranges $3M Sale of Student Housing Building in Mansfield, Connecticut

Taylor Williams — Fri, 15 May 2026 13:00:10 +0000

MANSFIELD, CONN. — Locally based brokerage firm Chozick Realty has arranged the $3 million sale of Eagle Court Apartments, a 40-bed student housing building in Mansfield that serves students at the University of Connecticut. Each unit at Eagle Court, which has maintained full occupancy over the past decade, has four bedrooms and comes fully furnished. Tom Boyle of Chozick Realty represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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Emerson, Philip Roper Deliver 201-Unit Apartment Community in Metro Richmond

John Nelson — Thu, 14 May 2026 13:53:00 +0000

CHESTER, VA. — Locally based Emerson Cos. and independent developer Philip Roper have delivered The River Apartments, a 201-unit community located at 1350 Meadowville Technology Parkway in Chester. The Class A community is situated near the James River, which runs through downtown Richmond. The property features one-, two- and three-bedroom floorplans ranging in size from 615 to 1,489 square feet. Monthly rental rates range from $1,684 to $2,596, according to Apartments.com. Amenities include a saltwater pool with sundeck, fitness center, grilling stations, landscaped courtyards with fire pits, resident lounge and coworking/conference space. Burke & Herbert Bank provided an undisclosed amount of construction financing to the development team. The design-build team include 2PA (architect), Highmark Engineering (civil engineer), KBS (general contractor), Focus Design (interior designer) and Cite Design (landscape architect). Capital Square Living operates The River Apartments.

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Walker & Dunlop Provides $53.7M Agency Refinancing for Student Housing Community in Daytona Beach

John Nelson — Thu, 14 May 2026 13:48:23 +0000

DAYTONA BEACH, FLA. — Walker & Dunlop has provided a $53.7 million Freddie Mac loan for the refinancing of OnShore, a 636-bed student housing community located near Embry-Riddle Aeronautical University in Daytona Beach. Delivered in 2020, the community offers 210 units alongside shared amenities including a fitness center, study areas, an infinity pool and a flight simulator. Will Baker, Mike Shropshire, William Shell and Doug McDaniel of Walker & Dunlop originated the seven-year, floating-rate loan with a four-year interest-only period on behalf of the borrower, a partnership between L3 Campus and Aureon Partners. Austin Kinn of TSB Capital Advisors also consulted on the transaction on behalf of the borrower.

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Tailwind Group Buys 543-Bed Student Housing Community Near Baylor University, Plans Renovation

Taylor Williams — Thu, 14 May 2026 13:44:36 +0000

WACO, TEXAS — Tailwind Group has acquired The Outpost Waco, a 543-bed student housing community located near the Baylor University campus, with plans to commence renovations in June. Capital improvements will include a redesigned clubhouse with a modern lounge and gaming areas, dedicated study zones and private conference rooms; the addition of a new 24-hour market; improved technology throughout the community; and a complete refresh of the property’s fitness center with increased space, new equipment and a spa-style sauna. The community’s exterior is also set to undergo upgrades, including renewed pool areas with new furniture and grills, revitalized outdoor recreational facilities, updated landscaping and improvements to the building’s exteriors. Renovations are scheduled for completion by this November. The seller and terms of the transaction were not released.

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NEPCG Arranges $17.3M Sale of Multifamily Portfolio in New London, Connecticut

Taylor Williams — Thu, 14 May 2026 13:21:06 +0000

NEW LONDON, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $17.3 million sale of a portfolio of three multifamily properties totaling 136 units in New London, located in southern coastal Connecticut. Courtview Square is a four-building complex that houses 96 units, exclusively in one-bedroom floor plans. Harbortree Apartments is a five-building property that offers 28 units in studio, one- and two-bedroom formats. Bristol Apartments is a 12-unit building comprised entirely of one-bedroom apartments. Brad Balletto of NEPCG represented the New Jersey-based seller in the transaction and procured an undisclosed, regional owner-operator as the buyer.

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Millburn & Co. Buys 339-Unit Apartment Community in Mesa, Arizona

Amy Works — Thu, 14 May 2026 13:18:42 +0000

MESA, ARIZ. — Salt Lake City-based Millburn & Co. has acquired Ascend at Longbow Highpoint, a multifamily property in Mesa, from D.R. Horton for an undisclosed price. Matt Pesch, Asher Gunter and Austin Groen of CBRE represented the seller in the transaction. CBRE’s Debt & Structured Finance team arranged financing for the buyer. Completed in 2025, the community features 339 apartments situated along the Longbow Golf Club. Residences include hardwood-style flooring, granite countertops, energy-efficient windows, smart thermostats, full-size washers/dryers, stainless steel appliances and patios or balconies. Ascend at Longbow Highpoint in Mesa, Ariz., features 339 apartments, a swimming pool, conference rooms, pet amenities and a resident clubhouse. Community amenities include a resort-style pool deck with golf course views, a covered outdoor kitchen and barbecue pavilion, a resident clubhouse with lounge areas, a community kitchen, conference rooms and coworking spaces. Additional amenities include outdoor gathering areas, electric vehicle charging, pet amenities, package lockers and a walking trail with direct access to the golf course.

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IPA Arranges $28M Sale of Park Encino Multifamily Property in Los Angeles

Amy Works — Thu, 14 May 2026 13:15:11 +0000

LOS ANGELES — Institutional Property Advisors (IPA) has arranged the $28 million sale of Park Encino, a 52-unit apartment property in the Encino neighborhood of Los Angeles. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the undisclosed seller and procured the buyer, locally based Universe Holdings Development. Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio and grill. The unit mix is comprised of two- and three-bedroom floor plans. Units feature washers and dryers and walk-in closets.

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ICON Real Estate Negotiates $11.2M Sale of Apartment Building in Chatham, New Jersey

Taylor Williams — Thu, 14 May 2026 13:14:36 +0000

CHATHAM, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $11.2 million sale of a 31-unit apartment building in the Northern New Jersey community of Chatham. The building at 49 S. Passaic Ave. offers studio, one- and two-bedroom units and amenities such as a fitness center and onsite laundry facilities. David Jarvis and David Oropeza of ICON brokered the deal. The seller was undisclosed, and the buyer, an entity doing business as Cornerstone 2025 LLC, purchased the asset via a 1031 exchange.

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SF Capital Group Arranges $32M Acquisition Loan for Michigan Multifamily Property

Kristin Harlow — Thu, 14 May 2026 13:09:46 +0000

SHELBY TOWNSHIP, MICH. — SF Capital Group has arranged a $32 million loan for the acquisition of a 368-unit multifamily property in Shelby Township. Ryan Denomme of SF Capital arranged the nonrecourse bridge loan, which features three years of interest-only payments and future funding commitments. The undisclosed borrower plans to execute a property improvement and unit renovation plan.

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Walker & Dunlop Arranges $130M HUD-Insured Financing for Mixed-Use Redevelopment of Former VA Hospital in Denver

Hayden Spiess — Thu, 14 May 2026 11:23:00 +0000

DENVER — Walker & Dunlop has arranged $130 million in financing to fund the mixed-use redevelopment of a former Veterans Affairs (VA) hospital campus in Denver. GM Development, a locally based urban infill development firm, is the borrower. Chris Rumu, Jason Silva, Cole Parker and Mike Valucci of Walker & Dunlop arranged the financing through the U.S. Department of Housing and Urban Development (HUD) 221(d)(4) loan program. This marks the largest HUD 221(d)(4) loan in the company’s history. (The 221(d)(4) loan product is HUD’s construction-to-permanent financing program that funds the construction or heavy renovation of apartment communities with five or more units.) Situated in the historic Hale neighborhood of Denver, the project will transform a historic 10-story building and eight-level parking garage. The project’s capital stack includes historic tax credits. Upon completion, the redevelopment will feature 493 multifamily units, with roughly 8 percent of units designated as income-restricted. Additionally, the development will include more than 50,000 square feet of retail and medical office space. The 8.2-acre site is located roughly three miles from downtown Denver and is adjacent to the 9+CO master-planned district. GM Development acquired the property in 2022. “We’re excited to transform this historic site into a vibrant…

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Elevate Development Receives $116M in Financing for Student Housing Project Near Texas State University

Taylor Williams — Wed, 13 May 2026 15:09:41 +0000

SAN MARCOS, TEXAS — Elevate Development Partners has received $116 million in acquisition and construction financing for the development of a 759-bed student housing community near Texas State University in San Marcos. The 260-unit project is being developed in partnership with Flintco. S3 Capital provided financing for the development, which will span 280,124 square feet. Shared amenities are set to include a social lounge, bicycle room, package room, resort-style pool, yoga and wellness room, fitness center, study lounges and conference rooms. Preiss has been tapped to manage the community upon completion. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing on behalf of the developer.

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Partnership Agrees to Buy Church Land in Manhattan’s Upper West Side, Develop Mixed-Income Project

Taylor Williams — Wed, 13 May 2026 14:23:42 +0000

NEW YORK CITY — A partnership between Rockefeller Group and Atlas Capital Group has entered into an agreement with the Roman Catholic Church of Holy Name of Jesus and Saint Gregory the Great to buy church-owned land on Manhattan’s Upper West Side, with plans to develop a mixed-income housing project. The agreement, valued at $96 million, involves land at 200 W. 97th St., and the project will involve underutilized portions of the church campus — such as the former school, convent and recreation buildings — while the active church continues its ministry. The number of units was not disclosed, but 25 percent of residences will be subject to income restrictions, and the new building will also have retail space. The deal is expected to close in the coming weeks.

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Ariel Property Advisors Arranges $79.8M Sale of Brooklyn Affordable Housing Portfolio

Taylor Williams — Wed, 13 May 2026 14:19:21 +0000

NEW YORK CITY — Ariel Property Advisors has arranged the $79.8 million sale of a portfolio of eight affordable housing buildings totaling 347 units in Brooklyn’s Prospect Park neighborhood. Known as the Prospect Park South Portfolio, the properties collectively offer 33 studios, 154 one-bedroom units, 121 two-bedroom apartments, 56 three-bedroom residences, 14 four-bedroom units and nine five-bedroom units. Victor Sozio, Shimon Shkury, Sean Kelly, Remi Mandell, Lawrence Sarn, Nicole Daniggelis and Erik Moloney of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.

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Newmark Negotiates Sale, Financing of 404-Unit Village at Iron Blossom Multifamily Property in South Reno

Amy Works — Wed, 13 May 2026 13:35:23 +0000

SOUTH RENO, NEV. — Newmark has directed the sale and financing of Village at Iron Blossom, an apartment community in South Reno. Details of the sales price and financing were not released. Jonathan Merhaut led the Newmark team that represented the undisclosed seller. Located at 690 E. Patriot Blvd., Village at Iron Blossom features 404 apartments. Built in 1984, the property has remained under the same ownership for the past decade and has benefited from significant capital improvements, including an estimated $12 million reinvested by the owner to maintain the property’s standing as a market-leading Class B community, according to Newmark.

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Northmarq Brokers $10.9M Sale of Sunset Sands Apartments in Fresno, California

Amy Works — Wed, 13 May 2026 13:32:30 +0000

FRESNO, CALIF. — Northmarq has arranged the sale of Sunset Sands Apartments, a multifamily property in Fresno. XLNT Sunset Sands LP sold the asset to SRI Cedar LLC for $10.9 million. Located at 4585 E. McKinley Ave., Sunset Sands features 96 garden-style apartments that were built in 1974. Robin Kane and Brendan Kane of Northmarq represented the seller in the deal.

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CBRE Brokers Sale of 120-Unit Apartment Community in West Bend, Wisconsin

Kristin Harlow — Wed, 13 May 2026 13:28:28 +0000

WEST BEND, WIS. — CBRE has arranged the sale of Trail’s Edge Apartments, a 120-unit apartment community in West Bend, a northern suburb of Milwaukee. Wisconsin Lakefront Property Management LLC acquired the property from an ownership group that included an entity related to American Construction Services, the asset’s original developer. CBRE’s Sean Beuche, Matson Holbrook and Gretchen Richards represented the seller. Built in 2022, the property features a range of one- and two-bedroom floor plans ranging from 785 to 1,465 square feet. Amenities include a fitness center, picnic area, community room, pet washing station and interior car wash bay.

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