DALLAS — Marcus & Millichap has brokered the sale of the Dallas Duplex Portfolio, a collection of 30 duplex buildings that are located across southern suburbs of the Dallas-Fort Worth metroplex. Specifically, the buildings, which were constructed between 1983 and 2000 and total 60 two-bedroom units, are located in DeSoto, Ennis, Mansfield and Glenn Heights. Chris Pearson, Bard Hoover, Nick Fluellen and Garret Nelson of Marcus & Millichap represented the seller, a local private investor, in the transaction and procured the buyer, Vault Cap. The sales price was not disclosed.
WILMINGTON, N.C. — JLL has arranged the sale of Pier 33, a 286-unit apartment community located at 901 Nutt St. in downtown Wilmington. Middle Street Partners purchased the luxury community from Dewitt Carolinas Inc. for an undisclosed price. John Mikels, John Gavigan, Niki Dewberry and William Martin of JLL represented the seller in the transaction. Additionally, Ward Smith and Brad Woolard of JLL originated a Fannie Mae acquisition loan on behalf of Middle Street. Built in 2021, Pier 33 features 21,000 square feet of retail space, including concepts Bonita Latin Fusion, Megarounds and Nautical Bowls. The property also features studio, one-, two- and three-bedroom apartments, as well as a resort-style pool, pet spa, sky lounge, fitness center and coworking spaces.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has placed a $9 million loan for the refinancing of a 44-unit multifamily property in Buffalo. The name and address of the property, which exclusively offers two-bedroom units, were not disclosed. Kevin Coscia of Largo originated the loan, which was structured with a fixed interest rate and 10 years of interest-only payments. The names of the direct lender and borrower were also not disclosed.
WOODINVILLE, WASH. — JLL Capital Markets has arranged the sale of Beaumont Apartments in Woodinville, approximately 20 miles northeast of Seattle. The asset traded for $136.1 million. David Young, Corey Marx and Chris Ross of JLL Capital Markets’ Investment and Sales Advisory team represented the undisclosed seller in the deal. The name of the buyer was not disclosed. Located at 14001 NE 183rd St., Beaumont Apartments offers 344 studio, one- and two-bedroom units, with an average size of 856 square feet. The apartments offer stainless steel appliances, keyless entry, mosaic tile kitchen backsplashes, undermount sinks, deep soaker-style bathtubs and French doors leading to private balconies. Community amenities include a fitness center, resort-style pool, terrace with barbecues and fire pit, fenced dog park and a coworking space. The three-story building was constructed in 2009.
MILPITAS AND FREMONT, CALIF. — Gantry has arranged a total of $18.3 million in two permanent loans for the Spinnaker Pointe Apartments in Milpitas and Crossroads Village Apartments in Fremont. Totaling 540 units, the properties are fully stabilized and professionally managed. Gantry’s Tom Dao and Erinn Cooke represented the borrower, a private real estate investor, in arranging the financing. One of Gantry’s correspondent life company lenders provided the two five-year loans, which feature 30-year amortization schedules. The loans also feature no prepayment fees after the first 12 months from loan closing with rates in the mid-5 percent range, nonrecourse terms and a turnkey loan closing.
NORTH BEND, ORE. — Red Oak Capital Holdings has provided $4.5 million in financing for Eagle Crest Village Apartments in North Bend. The loan will be used to retire the existing debt and complete renovations on the garden apartment community. The three-building property features 60 studio units, 37 one-bedroom apartments and a freestanding single-family home. Written under Red Oak’s Opportunistic Bridge Loan Program, the debt carries an 11 percent interest rate, three-year term and represents 53.4 percent of the property’s stabilized value. Dave Christensen, Hermann Wendorff and Jesus Martinez of Red Oak originated and underwrote the loan. The undisclosed sponsor acquired the vacant former residential care facility in 2021 and is nearly finished converting the asset into 100 percent multifamily. At full stabilization, the sponsor intends to exit the Red Oak loan via a conventional refinance and manage the community in the long term.
CHICAGO — JLL Capital Markets has arranged a $24.7 million loan for the refinancing of Luxe on Madison, a 102-unit apartment complex in Chicago. Located at 1222 W. Madison St., the five-story community was constructed in two phases in 2009 and 2016. The property features a mix of studios, one- and two-bedroom units averaging 845 square feet as well as 7,300 square feet of ground-floor retail space. Amenities include a fitness center, coworking spaces, a rooftop terrace and covered parking garage. Danny Kaufman, Mary Dooley, Rebecca Brielmaier and Mackenzie Jones of JLL represented the borrower, Fifield Cos. MetLife Investment Management provided the five-year, fixed-rate loan.
CHICAGO — A joint venture between McShane Construction Co. and Ashlaur Construction has completed The Foglia Residences in Chicago. Brinshore Development and The Chicago Lighthouse developed the 76-unit affordable housing building for residents who are blind, visually impaired, disabled and veterans. The development marks the first Low-Income Housing Tax Credit building in the nation for the blind community, according to McShane. Situated on a site adjacent to The Chicago Lighthouse’s center in the Illinois Medical District, the podium-style building features nine stories with three levels of parking, six levels of units and first-floor retail space. Units are offered in studio, one- and two-bedroom floor plans. Income restrictions were not provided. Amenities include a fitness center, community room, fourth-floor rooftop terrace, dog run and playground. The common areas offer contrasting colors, lit braille unit signage, handrails, braille wallpaper, braille numbering on mailboxes, contrasting flooring in front of unit doors and elevators with audible signals. LBBA was the architect.
HALTOM CITY, TEXAS — Multifamily developer JPI has broken ground on Jefferson Drove, a 343-unit mixed-income housing project that will be located north of Fort Worth in Haltom City. About 50 percent of the units will be reserved for households earning 80 percent or less of the area median income, and the remainder will be rented at market rates. Amenities will include a pool, fitness center and a coworking lounge. Preleasing for the first residences is scheduled to begin in the second quarter of 2026.
ARLINGTON, VA. — JBG Smith has launched leasing at The Zoe, a 420-unit luxury apartment building situated within the National Landing district in Northern Virginia. The 19-story tower, which features 10,000 square feet of street-level retail space, is located at 2051 S. Bell St. in Arlington. Designed by STUDIOS, The Zoe will feature a mix of studio, one- and two-bedroom apartments, as well as a rooftop amenity space, fitness center, concierge services, coworking space, conference rooms, pet spa with a grooming station, bike parking and electric vehicle charging stations. Monthly rental rates at The Zoe will range from $2,020 to $6,750, according to Apartments.com. SK+I served as the architect of record for The Zoe. JBG Smith is targeting LEED Gold certification for the property. Headlined by the Amazon HQ2, National Landing features restaurants, shops, the Water Park, the Crystal City Metro station and a planned pedestrian bridge linking National Landing to Ronald Reagan Washington National Airport. JBG Smith delivered two other apartment developments at National Landing earlier this year totaling 808 units — The Grace and Reva. The Bethesda, Md.-based developer is also underway on an adjacent 25-story apartment tower to The Zoe called Valen, which will begin leasing in …