Multifamily Archives - REBusinessOnline

Red Oak Capital Provides $7.7M Acquisition Loan for Multifamily Community in Memphis

John Nelson — Thu, 04 Jun 2026 15:48:26 +0000

MEMPHIS, TENN. — Red Oak Capital Holdings has provided a $7.7 million loan for the acquisition and repositioning of Valley Forge Apartments, a 229-unit multifamily community located at 176 Hillview Ave. in Memphis. Valley Forge features 26 garden-style buildings comprising 171 two-bedroom units, 57 three-bedroom apartments and one one-bedroom unit across 15 acres. The property was 95.6 percent occupied at the time of financing. The borrower, I Real Estate and Allstate Property Management, plans to carry out repairs, capital improvements and security upgrades on the property. Red Oak Capital’s Stratos Athanassiades, Thomas Gorski and James Myatt originated the loan on behalf of the borrower. The loan carries an initial 18-month term and a loan-to-stabilized value of 71.9 percent.

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Marcus & Millichap Brokers Sale of 119-Unit Multifamily Portfolio in Kerrville, Texas

Taylor Williams — Thu, 04 Jun 2026 15:09:33 +0000

KERRVILLE, TEXAS — Marcus & Millichap has brokered the sale of a portfolio of three multifamily properties totaling 119 units in Kerrville, about 65 miles west of San Antonio. The properties — Northridge Villas, Park Lane and Summit — were all built between 1974 and 1977 and offer one- and two-bedroom units. Ben Kalter, Drew Garza and Will Balthrope of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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Blueprint Arranges Refinancing for 100-Unit Seniors Housing Community in South Florida

John Nelson — Thu, 04 Jun 2026 14:20:00 +0000

NORTH PALM BEACH, FLA. — Blueprint Capital Markets has arranged the refinancing of an assisted living and memory care community located in North Palm Beach in South Florida. Alta Senior Living is the borrower. The property totals 100 units and recently underwent a capital expenditure, operational turnaround and lease-up process. The undisclosed lender has provided a non-recourse bridge-to-HUD loan for an undisclosed amount. Kristen Ahrens, Pat Maloney and Ben Firestone of Blueprint secured the loan on behalf of Alta Senior Living.

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Zilber Residential Group, Homes by Towne Complete 209-Unit Multifamily Community in Roseville, California

Amy Works — Thu, 04 Jun 2026 13:33:00 +0000

ROSEVILLE, CALIF. — Affiliates of Zilber Residential Group and Homes by Towne have completed Estia Roseville, a 209-unit multifamily community located in the greater Sacramento area. Located at 6350 Baseline Road, Estia Roseville consists of one- and two-bedroom and cottage-style apartments ranging in size from 709 to 1,083 square feet. Units feature private entrances, 10-foot ceilings, walk-in closets, individual washers and dryers, stainless steel appliances and private, fenced-in backyards with built-in doggie doors. Community amenities include a dog park, pet spa, swimming pool, 24-hour fitness center and a dedicated yoga studio.

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Colliers Brokers $16.6M Sale of Affordable Housing Complex in West Los Angeles

Amy Works — Thu, 04 Jun 2026 13:31:27 +0000

LOS ANGELES — Colliers has brokered the sale of 11418 Missouri Avenue, a 44-unit affordable multifamily property located in the Sawtelle neighborhood of West Los Angeles. Generation Real Estate Partners and Eris Development sold the asset to an undisclosed buyer for $16.6 million, or $718 per square foot. Kitty Wallace and Andrew Eberhard of Colliers represented the sellers in the deal. Completed in 2025, the four-story property features a rooftop amenity space, solar panels, onsite laundry facilities, fitness amenities and bicycle storage. The project was one of the first developments under Executive Directive 1, a program introduced in December 2022 to accelerate the production of 100 percent affordable housing.

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Core Spaces to Develop Three Student Housing Projects Totaling 3,500 Beds in Champaign, Illinois

Kristin Harlow — Thu, 04 Jun 2026 13:11:48 +0000

CHAMPAIGN, ILL. — Core Spaces has unveiled plans to develop three student housing projects near the University of Illinois Urbana-Champaign. Together, the developments will bring more than 3,500 beds between 2028 and 2031. In fall 2025, Core broke ground on Hub Champaign Green Street, a 490-unit, 1,577-bed student housing community that is slated to deliver in summer 2028. Core plans to further expand its Hub on Campus footprint along the Green Street corridor. Each community will be centrally located near both campus and downtown Champaign.

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BWE Originates $38.9M Loan to Refinance 194 Units of Chicago Condo Property

Kristin Harlow — Thu, 04 Jun 2026 13:10:25 +0000

CHICAGO — BWE has originated $38.9 million to refinance 194 units of Woodland Park by the Lake, a 240-unit condominium community in Chicago’s Bronzeville neighborhood. Ryan Morris and Max Miller of BWE originated the five-year Freddie Mac loan on behalf of the borrower, a joint venture between a Chicago-based property management firm and a Chicago-based investor group. The joint venture originally acquired 170 units in the property in 2019 as part of a fractured condo deal. Since then, the venture has purchased more units and substantially renovated those homes.

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Interra Realty Arranges $5M Sale of Multifamily Building in Chicago’s Bucktown

Kristin Harlow — Thu, 04 Jun 2026 13:09:55 +0000

CHICAGO — Interra Realty has arranged the sale of 2105 W. Caton St. in Chicago’s Bucktown neighborhood for nearly $5 million. Completed in 2023, the boutique property features six two-bedroom units and two three-bedroom penthouse duplexes with private rooftop decks. The property also includes eight covered garage parking spaces and one street-level commercial space that is currently leased to a Pilates studio. Brad Feldman of Interra represented the buyer, a local private investor that also assumed the loan. Feldman also represented the seller, a developer he had worked with on the original 2018 land acquisition. The asset was fully occupied at the time of sale.

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InterFace Panel: Affordable Housing Deal Flow Gains Momentum as Brokers Turn Bullish

Abby Cox — Thu, 04 Jun 2026 11:45:00 +0000

ATLANTA — For much of the past two years, affordable housing transactions in the Southeast moved at a measured pace, slowed by severe cost burdens on both renters and prospective buyers and widening supply deficits. But inside this year’s InterFace Affordable Housing Southeast show, a networking and information conference held at The Westin Buckhead Atlanta on May 12, the tone has shifted. Phones are ringing again, deals are re-entering the pipeline and investors are showing a renewed willingness to chase affordable housing opportunities across the region. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Rachel Chapman, national account executive of Stewart Title Guaranty Co., moderated the discussion, entitled “Brokers, Buyers and Capital.” The investment sales panel notably reverted to a subject and question that’s shaping much of today’s affordable housing market: with elevated borrowing costs and general economic uncertainty, why is transaction activity accelerating? Necessitating that question for developers and brokers are the thorns still present in the industry, such as the lengthy process of securing and pricing loans, interest rate volatility and capital markets shifts. Even with these headwinds,…

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Newmark Provides $115.6M Agency Loan for Refinancing of Southern Connecticut Multifamily Properties

Taylor Williams — Wed, 03 Jun 2026 14:30:56 +0000

EAST LYME, CONN. — Newmark has provided a $115.6 million Freddie Mac loan for the refinancing of The Cove at Gateway Commons and Sound at Gateway Commons, two multifamily properties located in the southern coastal Connecticut city of East Lyme. The number of units was not disclosed. Both properties offer one-, two- and three-bedroom units, while Sound at Gateway Commons also has studio apartments. Avi Kozlowski of Newmark originated the 10-year, fixed-rate loan. The sponsor was not disclosed, but both communities are listed on the website of Berkley Properties.

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St. John Properties, Somerset Break Ground on $148M Multifamily Community in Baltimore County

John Nelson — Wed, 03 Jun 2026 13:51:11 +0000

MIDDLE RIVER, MD. — St. John Properties Inc. and Somerset Cos. LLC have broken ground on Aspen at Greenleigh, a $148 million luxury apartment development in Middle River. The 335-unit property will be situated within the 1,000-acre Greenleigh mixed-use community on the north side of Baltimore County. Set for completion in late 2027, Aspen at Greenleigh will offer studio, one-, two- and three-bedroom apartments ranging in size from 599 to 1,669 square feet. Indoor amenities will include a fitness center with yoga studio, multimedia center with oversized viewing screen and adjacent kitchen and bar, a billiards room, business center with a conference area, a pet spa with wash station and an indoor dog park. Outdoor amenities will include a heated saltwater pool with sunning decks, hospitality bar, bike storage and repair room, Zen garden and a courtyard with cabanas, a fireplace and a TV. The design-build team, which is pursuing LEED Gold certification for the development, includes Architects Collaborative (architect), Aumen Asner Inc. (interior design), KTGY (architect), Kline Engineering (structural engineer), Phillips Gradick (MEP engineer) and Stahly Engineering & Associates (civil engineer). St. John Properties’ multifamily construction division is serving as the project’s general contractor. Bozzuto Management will provide property…

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Berkadia Arranges $82.1M Refinancing for Apartment Community in Nokomis, Florida

John Nelson — Wed, 03 Jun 2026 13:48:04 +0000

NOKOMIS, FLA. — Berkadia has arranged an $82.1 million loan for the refinancing of Render Legacy Trail, a 450-unit apartment community located at 15560 Render Way in Nokomis, a suburb of Sarasota. Patrick McGlohn, Brian Gould, Hunter Wood, Natalie Hershey and Patrick Cunningham of Berkadia arranged the loan on behalf of the borrowers, Crescent Communities and FCP. Benefit Street Partners provided the three-year loan, which features two one-year extension options. Render Legacy Trail was completed in 2024 and features one-, two- and three-bedroom apartments averaging 934 square feet in size, as well as a saltwater pool, outdoor grilling and dining areas, 24-hour fitness center, coworking spaces, pickleball courts, EV charging stations and direct access to the 18.5-mile Legacy Trail that connects Sarasota to Venice, Fla.

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Lument Provides $28M HUD-Insured Loan for Ohio Affordable Housing Property

Kristin Harlow — Wed, 03 Jun 2026 13:34:29 +0000

LORAIN, OHIO — Lument has provided a $28 million HUD/FHA Section 221(d)(4) loan on behalf of TFG Housing Resources and Raise Up for the acquisition and substantial rehabilitation of Western Horizon, a 353-unit affordable housing community in Lorain, about 25 miles west of Cleveland. The transaction utilized a component of the Rental Assistance Demonstration (RAD) program that allows for blending RAD with Section 18 of the National Housing Act to fund the preservation of aging affordable housing. Lument’s Joey Hague led the transaction. The units were converted through the RAD program in conjunction with 4 percent Low-Income Housing Tax Credits through the Ohio Housing Finance Agency. In addition to the FHA mortgage, Lument Securities served as the underwriter for $9.2 million in tax-exempt bonds. Originally built in the 1950s as three separate communities, Leavitt Homes, Westview Terrace and Westgate Apartments have historically operated as public housing. As a result of the RAD conversion utilizing FHA financing, the properties now operate as one and are being rebranded as Western Horizon. Post renovation, all units will be assisted by project-based rental assistance with rents restricted to 60 percent of the area median income. TFG Housing Resources is a Columbus-based real estate developer…

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HDA Completes Design of 38-Unit Condo Development in Clayton, Missouri

Kristin Harlow — Wed, 03 Jun 2026 13:33:44 +0000

CLAYTON, MO. — Architect HDA has completed the design of Forsythia on the Park, a luxury condominium development in Clayton. The four-story, 155,500-square-foot building is positioned adjacent to Shaw Park and features 38 two- and three-bedroom residences. The open layouts feature private terraces. Amenities include a resident lounge anchored by a fireplace, a technology-equipped community room and services such as a 24-hour concierge and guest valet parking. The development is now open.

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Pacific Urban Investors Acquires 140-Unit Multifamily Community in San Diego

Amy Works — Wed, 03 Jun 2026 13:21:49 +0000

SAN DIEGO — Palo Alto, Calif.-based Pacific Urban Investors has purchased Casas by the Sea, an oceanfront multifamily property in the Bird Rock/La Jolla neighborhood of San Diego. Terms of the transaction were not disclosed. Situated adjacent to Tourmaline Beach, Casas by the Sea features 140 studio, one-, two- and three-bedroom apartments spread across four residential buildings and two single-family homes. The property was built in 1970. Approximately 86 percent of the units offer ocean views.

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PSRS Arranges $6.8M in Construction Financing for Affordable Housing Project in North Hollywood

Amy Works — Wed, 03 Jun 2026 13:19:49 +0000

LOS ANGELES — Regional brokerage firm PSRS has arranged $6.8 million in construction financing for an affordable housing project on Ben Avenue in the North Hollywood neighborhood of Los Angeles. The property will feature 40 affordable apartments. To secure bank approval for the project’s first-time developers, PSRS reworked the ownership structure to bring in a sponsor, MOBBIL Inc., to take a nominal equity position and strengthen the track record. Michael Warner of PSRS secured the two-year, interest-only construction loan, which features a 65 percent loan-to-value ratio.

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Advanced Real Estate Buys 126-Unit Casa La Paz Apartment Community in Rowland Heights, California

Amy Works — Tue, 02 Jun 2026 15:53:22 +0000

ROWLAND HEIGHTS, CALIF. — Advanced Real Estate has purchased Casa La Paz, a 126-unit multifamily property located in Rowland Heights, an unincorporated community in the San Gabriel Valley within Los Angeles County. The company acquired the property via its Advanced Fund 24-3, a 721 tax-deferred “exchange and contribution” structure. Through this process, the former ownership group contributed the property into the fund in exchange for partnership interests in Advanced Fund 24-3. Additional terms of the transaction were not released. Advanced Real Estate plans to execute a comprehensive value-add renovation to the community, which will be rebranded as The Rowland. Advanced’s affiliated construction company, R3 Construction Services, will administer the renovations. Property management will be handled in-house by Advanced Management Co.

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Dwight Capital Provides $27M HUD-Insured Loan for Lubbock Multifamily Project

Taylor Williams — Tue, 02 Jun 2026 15:09:46 +0000

LUBBOCK, TEXAS — New York City-based Dwight Capital has provided a $27 million HUD-insured loan for a 104-unit multifamily project in the West Texas city of Lubbock. The 10-building project represents Phase II of a larger development known as La Ventana at Canyon West. The unit mix will comprise 54 one-bedroom residences, 46 two-bedroom apartments and four three-bedroom units, all of which will have private balconies/patios. Brandon Baksh and Tommy Ng of Dwight originated the loan through HUD’s 241(a) program on behalf of the borrower, Martin Inderman Development.

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Eastern Union Arranges $5.5M Equity Investment in Metro Houston Multifamily Property

Taylor Williams — Tue, 02 Jun 2026 15:00:18 +0000

BAYTOWN, TEXAS — Eastern Union has arranged a $5.5 million equity investment in Raintree Apartments, a 248-unit multifamily property located in the eastern Houston suburb of Baytown. The property was built on 12 acres in 1985 and offers one-, two- and three-bedroom units with an average size of 819 square feet. Jonah Pinchot of Eastern Union secured the investment on behalf of the owner, Virginia-based Cohen Investment Group. The new equity partner was not disclosed.

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Avison Young Arranges $404M Agency Permanent Loan for Manhattan Apartment Building

Taylor Williams — Tue, 02 Jun 2026 14:22:45 +0000

NEW YORK CITY — Avison Young has arranged a $404 million Freddie Mac permanent loan for The Archive, a 479-unit historic apartment building located at 666 Greenwich St. in Manhattan’s West Village submarket. PNC Bank provided the loan to the borrower, an affiliate of Rockrose Development, and will also act as the loan servicer. The 11-story building occupies a full city block and offers amenities such as a zen room, rooftop terrace and a children’s playroom. Scott Singer, Andy Singer, Kevin Swartz and Kathleen McSharry led the transaction for Avison Young.

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