Multifamily Archives - REBusinessOnline

JLL Arranges Loan for Refinancing of 300-Unit Apartment Community in Northwest Dallas

Taylor Williams — Fri, 09 Oct 2026 16:39:13 +0000

DALLAS — JLL has arranged a loan of an undisclosed amount for Standard at Royal Lane, a 300-unit apartment community in northwest Dallas. The newly constructed property sits on a 12.4-acre site and offers one-, two-, three- and four-bedroom units, with some apartments being subject to income restrictions. Amenities include two pools, dual fitness centers, a business centers and a theater room. Kyle Spencer, Dan Kearns, Christian Johnston and Aidan Flanagan of JLL arranged the loan through TPG Real Estate Credit on behalf of the owner, LDG Development.

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Lansing Melbourne Recapitalizes 156-Unit Multifamily Property in Nashua, New Hampshire

Taylor Williams — Fri, 09 Oct 2026 16:04:01 +0000

NASHUA, N.H. —Lansing Melbourne Group, a North Carolina-based owner-operator, has recapitalized The Flats on High Street, a 156-unit multifamily property in the southern New Hampshire city of Nashua, via an equity investment from a subsidiary of Dallas-based Leon Capital Group. The amount was not disclosed, but Leon Capital provided the funds in conjunction with another equity investment in a student housing property in Binghamton. Combined, the two equity investments roughly $19 million. The Flats on High Street is located in the city’s downtown area and offers studio, one- and two-bedroom floor plans. Amenities include outdoor grilling areas, a pet spa, resident lounge, outdoor gaming area and a business center.

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LOCAL on Delmar Mixed-Use Community Opens in Suburban St. Louis

Hayden Spiess — Fri, 09 Oct 2026 15:54:46 +0000

UNIVERSITY CITY, Mo. — National real estate developer Subtext has opened LOCAL on Delmar, a new mixed-use residential community in University City, located about eight miles west of downtown St. Louis. Situated at the western edge of the Delmar Loop entertainment district and less than half a mile from Washington University in St. Louis, the development transforms a long-underutilized site into a mixed-use destination featuring apartments, resident-focused amenities, collaborative workspaces and retail. The 398,225-square-foot development features 259 residences offered in studio, one-, two- and three-bedroom floor plans ranging from 398 to 1,090 square feet. Amenities at LOCAL on Delmar include a rooftop pool with sun shelf and hot tub; poolside cabanas, fire pits and grilling stations; a wellness suite with sauna, meditation, and private fitness rooms; a 24-hour fitness center with group yoga and barre studio; outdoor training space with functional fitness equipment; and dedicated workspaces with private and group conference rooms. Other special features of the property include a clubroom and game lounge; lobby lounge with coffee bar; reserved parking garage with electric vehicle charging; bike and scooter room with charging and repair stations; and roommate matching services with by-the-bed leasing options. Residents are within an eight-minute walk of Washington…

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Pre-Leasing Begins at M&R Development’s 478-Unit Luxury Apartment Community Near Milwaukee

Hayden Spiess — Fri, 09 Oct 2026 14:50:06 +0000

ST. FRANCIS, WIS. — Pre-leasing has begun at The Bluffs on Lake, M&R Development’s new 478-unit luxury apartment community located on a bluff overlooking Lake Michigan in St. Francis, Wis., approximately five miles south of downtown Milwaukee. M&R is co-developing the Class A rental project with Campbell Capital Group LLC. Situated on a 21-acre site at 3700 S. Lake Drive, The Bluffs on Lake is a two-phase project. Upon completion, the development will comprise two buildings spanning four and five stories, along with one level of underground parking and 8,000 square feet of ground-floor retail space, some of which is earmarked for a restaurant with outdoor seating. Move-ins for the 278 apartments in the first phase of The Bluffs on Lake are expected to begin in early December. Construction on the second phase, which will offer 200 units, is expected to begin in early 2027. Residences at The Bluffs on Lake range from convertible one-bath apartments to three-bedroom, two-bath floor plans. Units will feature 602 square feet to 1,274 square feet, with monthly rents varying from $1,674 to $3,932. RMK Management Corp. is overseeing leasing and property management for the community. The Bluffs on Lake will offer some distinct amenities that M&R is introducing for the…

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JLL Arranges $100M Financing for Two New Multifamily Properties in North Florida

Abby Cox — Fri, 09 Oct 2026 13:49:22 +0000

JACKSONVILLE AND ST. AUGUSTINE, FLA. — JLL Capital Markets has arranged $100 million in bridge financing for two multifamily properties in North Florida: The Pointe at Davis Creek, a 288-unit, garden-style community located at 12175 Philips Highway in Jacksonville, and The Bradley St. Augustine, a 250-unit, garden-style community located at 350 Bay Laurel Drive in St. Augustine. Matthew Lawton, Travis Anderson, Melissa Quinn, Gregg Shapiro, Dan Kearns, Kelsey Bawcombe, Streeter Simmons and Rob Rothaug of JLL secured floating-rate construction take-out financing through TPG Real Estate Credit on behalf of the borrower, Waypoint Residential. Both properties were delivered in the first quarter of 2025 and feature amenity packages such as resort-style swimming pools with tanning ledges and cabanas; 24-hour fitness centers with yoga/spin studios; pet spas; outdoor gathering areas with fire pits and grilling stations; resident lounges with coffee bars and coworking spaces; and onsite leasing and management offices. Unit interiors include floorplans with walk-in closets, gourmet kitchens with granite countertops and islands, vinyl plank flooring, energy-efficient stainless steel appliances, full-size washers and dryers and private patios/balconies.

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Cushman & Wakefield Brokers $89M Sale of Two-Property Seniors Housing Portfolio in Mid-Atlantic

Abby Cox — Fri, 09 Oct 2026 13:47:05 +0000

GREAT FALLS, VA. AND QUEENSTOWN, MD. — Cushman & Wakefield has brokered the $89 million sale of two assisted living and memory care facilities in Virginia and Maryland. The portfolio includes The Residence at Colvin Run, a 62-unit community built in 2022 and located at 1131 Walker Road in Great Falls, and Queenstown Landing, a 68-unit community built in 2021 and located at 120 Shoreway Drive in Queenstown. The facilities were 94 percent occupied at the time of sale. Joshua Jandris, Brett Gardner, Robert Bracci and Evan Jakobsze of Cushman & Wakefield represented the sellers — Buvermo Investments, SHA Capital, Verity Commercial and INDIE — in the transaction. The buyer, Westlake Village, Calif.-based LTC Properties, retained IntegraCare to operate the properties.

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Jemal Real Estate, DivcoWest Plan Office-to-Residential Conversion in D.C.’s West End

Abby Cox — Fri, 09 Oct 2026 13:35:09 +0000

WASHINGTON, D.C. — Jemal Real Estate Strategies and DivcoWest have formed a joint venture to complete an office-to-residential conversion project in Washington, D.C.’s West End district. Madison Realty Capital provided a $40 million loan to fund the acquisition and predevelopment costs. Upon completion of the project, the existing 342,000-square-foot office building located at 1255 23rd St. NW will feature approximately 323 apartments, as well as up to 36 affordable units. Roughly 22,000 square feet of ground-floor retail space will remain in place. Additional project details will be announced as plans advance. The project team includes FILLAT+ Architecture and CBG Building Co.

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BWE Provides $28.3M Permanent Loan for Columbus-Area Senior Living Community

Hayden Spiess — Thu, 08 Oct 2026 15:41:55 +0000

GROVE CITY, OHIO — BWE has provided a $28.3 million permanent loan for Grove City Senior Living, an independent living, assisted living and memory care community in Grove City, part of the Columbus metropolitan area. Taylor Hawkins, senior vice president in BWE’s Cleveland office, originated the financing on behalf of an Ohio-based developer through Fannie Mae. BWE is a Fannie Mae Delegated Underwriting and Servicing (DUS)-approved lender. The loan will be used to take out existing construction debt and return equity to investors as the borrower plans for a long-term hold of the property, which opened in May 2023. The loan features a 10-year term with three years of interest-only payments and a 30-year amortization, as well as a 100 percent loan-to-cost ratio. “When Grove City Senior Living reached full occupancy, our client knew it was the right time to move on from its existing construction debt and find a permanent loan,” says Hawkins. “We considered multiple agency options when determining the right financing for this property. Although Fannie Mae’s senior book is shrinking, the strong fundamentals of Grove City Senior Living made it an attractive property [for lending]. And we secured strong terms that will allow the borrower to…

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Northwood Ravin Launches Leasing at Publix-Anchored Student Housing Development in Athens, Georgia

John Nelson — Thu, 08 Oct 2026 14:46:13 +0000

ATHENS, GA. — Northwood Ravin has launched leasing at Magnolia, a 179-unit “student-focused apartment community” underway at the intersection of Broad Street and Milledge Avenue in downtown Athens, which sits adjacent to University of Georgia’s (UGA) North Campus. In addition to studio, one-, two- and three-bedroom apartments, the development will feature a Publix grocery store that represents the first national grocer to operate in downtown Athens, according to the Charlotte-based developer. Magnolia will also include indoor and outdoor amenities for residents, including coworking space with a coffee bar; a wellness lounge; pool and courtyard with cabanas, a double jacuzzi, jumbotron, putt-putt course and multiple grilling stations; game room; and a modern fitness center with two private training and wellness studios. Northwood Ravin expects to open Magnolia ahead of UGA’s 2027-28 school year.

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Public-Private Partnership Breaks Ground on 371-Unit Apartment Community in Boynton Beach, Florida

John Nelson — Thu, 08 Oct 2026 14:32:12 +0000

BOYNTON BEACH, FLA. — A public-private partnership between the City of Boynton Beach and Hyperion Group, Winter Properties, WREP and Silverstein Properties has broken ground on Ocean One, a 371-unit apartment community in the city’s downtown district. The development team financed the development using equity funding from affiliates of Cantor Fitzgerald and Silverstein Properties and construction financing from Madison Realty Capital. Additionally, the Boynton Beach Community Redevelopment Agency approved up to $11.5 million in tax increment revenue funding over a 14-year term for the project, with the ownership group agreeing to provide 110 public parking spaces at Ocean One in perpetuity. Designed by Miami-based Arquitectonica, Ocean One will feature high-end apartments and 25,500 square feet of ground-level retail space. Amenities will include a resort‑style pool deck, fitness center, resident lounge, coworking spaces, outdoor recreation areas, package and mail facilities and onsite management services. The construction timeline was not released.

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IPA Negotiates $72M Sale of Apartment Community in Kent, Washington

Amy Works — Thu, 08 Oct 2026 14:22:29 +0000

KENT, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $72 million sale of The Groves Apartments, a multifamily property in Kent, a southern suburb of Seattle. RISE Properties sold the community to FPA Multifamily LLC for $196,721 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented both parties in the deal. Built in 1980 on 20 acres, The Groves Apartments comprises 30 two- and three-story residential buildings, a newly renovated clubhouse, an outdoor heated pool, a children’s playground and two dog parks. The property features 366 one-, two- and three-bedroom apartments with an average size of 836 square feet. Each apartment includes a private patio or balcony, while the two- and three-bedroom units feature fireplaces.

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Marcus & Millichap Arranges Sale of 206-Unit Multifamily Property in Fort Wayne, Indiana

Kristin Harlow — Thu, 08 Oct 2026 13:01:00 +0000

FORT WAYNE, IND. — Marcus & Millichap has arranged the sale of Shoaff Park Villas, a 206-unit multifamily property in Fort Wayne. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, Shoaff Park Villas Apartments Inc., and procured the buyer, an Illinois-based investor with a regional portfolio in northern Indiana and southern Michigan. The transaction marked the first time the property had been offered for sale since 1976 after being owned by the same family for 50 years.

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Affinius Capital Provides $94.8M Construction Loan for Student Housing Project Near Oregon State University

Amy Works — Wed, 07 Oct 2026 15:22:19 +0000

CORVALLIS, ORE. — Affinius Capital has provided a $94.8 million construction loan for Zev Corvallis, a 13-story student housing property that will serve students at Oregon State University. The borrower is Fields Holdings. Scheduled for a fall 2028 completion, Zev Corvallis will feature 667 beds across 262 studio, one-, two-, three- and four-bedroom unit. Residences will be furnished with quartz countertops, stainless steel appliances, modern cabinetry, in-unit washers/dryers and smart-home technology. Communal amenities will include a pool, rooftop deck, indoor basketball court, sauna, theater, fitness center, yoga room, study and resident lounges, as well 4,500 square feet of retail space.

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Hines Acquires 99 West Paces Apartments in Atlanta for $240M

John Nelson — Wed, 07 Oct 2026 15:20:22 +0000

ATLANTA — Houston-based Hines has announced that Hines Global Income Trust Inc. (HGIT) has purchased 99 West Paces, a 312-unit luxury apartment tower in Atlanta’s Buckhead district. The seller and sales price for 99 West Paces were not disclosed, but Atlanta Business Chronicle reports that the 13-story apartment property traded for approximately $240 million. The buyer’s affiliate property management firm Hines Living will operate the luxury community, which was 95 percent occupied at the time of sale. Built in 2023, 99 West Paces features one-, two- and three-bedroom apartments, as well as some penthouse units, a wellness club and fitness center, pet spa, coworking spaces and a sky lounge. The property fronts West Paces Ferry Road and is within walking distance to a Whole Foods Market, Buckhead Village and Buckhead Theatre. Michael Harrison and Vikram Mehra of Hines’ U.S. Sunbelt team led the acquisition, which represents Hines’ first acquisition in the Atlanta market. The acquisition of 99 West Paces was part of a $500 million announcement that also included HGIT’s purchase of Bishop Arts Portfolio in Dallas and Castings Commerce Center in Columbus, Ohio.

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Northmarq Provides $68.8M Agency Loan for Refinancing of Texas Multifamily Portfolio

Taylor Williams — Wed, 07 Oct 2026 15:13:58 +0000

HOUSTON AND SAN ANTONIO — Northmarq has provided a $68.8 million Freddie Mac loan for the refinancing of a portfolio of three multifamily properties totaling 940 units in Texas. Two of the properties — Holden Heights and Estancia San Miguel — are located in Houston, and the third property, The Montecristo, is located in San Antonio. Holden Heights and Estancia San Miguel total 282 and 300 units and were built in 2015 and 2006, respectively. Both properties offer one- and two-bedroom units, while Estancia San Miguel also includes three-bedroom floor plans. Built in 2005, The Montecristo totals 358 units in one-, two- and three-bedroom floor plans. Taylor Francis, David Blum, Joe Giordani, Charlie Buckingham and Matt Radich of Northmarq originated the fixed-rate loan on behalf of the borrower, Francis Property Management.

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Walker & Dunlop Arranges $86.5M Refinancing of New Apartment Community in Richmond

John Nelson — Wed, 07 Oct 2026 15:07:43 +0000

RICHMOND, VA. — Walker & Dunlop has arranged an $86.5 million loan for the refinancing of Chasen, a new 352-unit apartment community located in the Scott’s Addition neighborhood of Richmond. Alexandra Huffman, Justin Nelson, Andrew Tapley, P.J. Feichtmeier, Eric Norris and Jared Diedrich of Walker & Dunlop arranged the variable-rate, interest-only bridge financing through a private credit lender on behalf of the borrower, locally based Capital Square. Fully delivered earlier this year, Chasen offers studio, one-, two- and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail space. Amenities include a resort-style pool, fitness center, rooftop terrace, club room with a golf simulator, whiskey lounge, coworking center, dog wash station and courtyards.

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Nitya Capital Refinances 432-Unit Apartment Community in South Dallas

Taylor Williams — Wed, 07 Oct 2026 15:06:34 +0000

DALLAS — Houston-based investment firm Nitya Capital has refinanced Interlace Apartments, a 432-unit multifamily community in South Dallas. The property offers studio, one- and two-bedroom units and amenities such as two pools, a fitness center, children’s play area and pet-friendly facilities. Morgan Stanley provided the debt, specific terms of which were not disclosed.

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IPA Arranges $14.7M Sale of Apartment Complex in Forest Grove, Oregon

Amy Works — Wed, 07 Oct 2026 14:52:09 +0000

FOREST GROVE, ORE. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $14.7 million sale of The Boxer, a 99-unit apartment complex in Forest Grove, about 27 miles west of Portland. Hillsboro, Oregon-based Bender Equities sold the property to San Francisco-based Tam Ridge Partners. The Boxer is a nine-building property that was developed in the 1960s and renovated in 2019. Amenities include a playground, onsite laundry facilities, a lounge with a kitchen, fireplace, shuffleboard and dining areas. IPA’s Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero represented the seller in the transaction. David Tabata of Marcus & Millichap assisted in closing the deal as the firm’s broker of record in Oregon.

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Ariel Property Advisors Negotiates $45M Sale of Upper Manhattan Affordable Housing Portfolio

Taylor Williams — Wed, 07 Oct 2026 14:34:45 +0000

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $45 million sale of Hudson View II and III, a four-building affordable housing portfolio in Upper Manhattan. The building are located at 520 W. 145th St., 528 W. 145th St., 1704 Amsterdam Ave. and 502-504 W. 145th St. and comprise 129 Section 8 residential units and 11 retail spaces. Victor Sozio, Shimon Shkury and Remi Mandell of Ariel represented the undisclosed seller in the transaction. The name and representative of the buyer were also not disclosed.

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Annex Group Opens 192-Unit Affordable Housing Community in Council Bluffs, Iowa

Kristin Harlow — Wed, 07 Oct 2026 13:03:00 +0000

COUNCIL BLUFFS, IOWA — The Annex Group has opened Union at Bluffs Run, a 192-unit affordable housing community in Council Bluffs. The $58.2 million property features one-, two- and three-bedroom units that are restricted to households whose income level is at or below 60 percent of the area median income. Amenities include a community room, fitness center, playground, dog walking area and picnic area. Partners on the project include DCCM, Snyder and Associates and the City of Council Bluffs. Merchants Capital provided more than $22 million in total equity and over $24 million in permanent debt financing. Merchants Bank provided more than $40 million in construction financing. Fannie Mae was also a partner. The Iowa Finance Authority issued 4 percent tax credits and tax-exempt bonds. Impact Housing Indiana is an organization dedicated to supporting residents of affordable housing communities within The Annex Group portfolio.

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