Multifamily

Dwight Mortgage Trust Funds $110M Refinancing for LC Line and Low Apartments in Charleston

by John Nelson August 25, 2025

CHARLESTON, S.C. — Dwight Mortgage Trust, an affiliate of Dwight Capital, has provided a $110 million bridge loan for the refinancing of LC Line and Low, a new 277-unit apartment development in Charleston. Brandon Baksh, Noah Greenwald and Talisse Thompson of Dwight Mortgage Trust originated the loan on behalf of the sponsor, Lifestyle Communities, which will use the loan to refinance existing construction debt and fund remaining construction expenses. LC Line and Low features a main residential building, train shed with loft-style apartments, historic single-family homes with private courtyards and seven retail suites totaling 15,000 square feet. The retail component houses tenants including The Goat Restaurant & Bar and Morning Ritual Coffee Shop, with another restaurant and a cocktail bar in the planning stages. Amenities include a resort-style pool, clubhouse, fitness center with saunas and cold plunges, coworking lounge and a parking deck.

August 25, 2025

Development Florida Multifamily Southeast

Falcone Begins Leasing 240-Unit Momentum Blanding Apartments in Jacksonville

by John Nelson August 25, 2025

JACKSONVILLE, FLA. — Falcone Group has begun leasing Momentum Blanding, a 240-unit apartment development located at 6136 Blanding Blvd. in Jacksonville’s Westside neighborhood. The $50 million property will feature a mix of one-, two- and three-bedroom apartments featuring open-concept layouts. Monthly rental rates are expected to start from the $1,300s for one-bedroom units. Amenities will include a resort-style swimming pool, clubhouse with a game room, business center, coffee bar, resident lounge, yoga studio, fitness center, playground and a pet park. Falcone Group expects initial move-ins to begin in September, with preleasing incentives including up to three months of free rent for early residents. Construction is scheduled for completion in early 2026. Falcone has tapped Rentyl Apartments & Homes to oversee leasing and property management at Momentum Blanding.

August 25, 2025

Development Multifamily Texas

Define Living to Develop 388-Unit Apartment Community in West Houston

by Taylor Williams August 25, 2025

HOUSTON — Define Living, a locally based multifamily developer that specializes in wellness-themed projects, will build a 388-unit apartment community in the Energy Corridor area of West Houston. The site spans 10.4 acres in the Central Park master-planned community. The midrise building will be known as Define Living: Park Row and will offer one- and two-bedroom units that will range in size from 657 to 1,089 square feet. Amenities will include a fitness center with cycling and yoga studios, infrared sauna and cold plunge, lap pool, two pickleball courts, a dog park and direct access to walking and biking trails. Mucasey & Associates is the project architect, and Blazer Building is the general contractor. Construction is scheduled to begin in the fourth quarter. Wolff Cos., the master developer of Central Park, sold the land to Define Living.

August 25, 2025

Affordable Housing Development Multifamily New York Northeast

Partnership Completes $100M Affordable Housing Project in Queens

by Taylor Williams August 25, 2025

NEW YORK CITY — A partnership between Bowery Residents’ Committee (BRC), Camber Property Group and the NYC Department of Social Services has completed a $100 million affordable housing project in the Far Rockaway area of Queens. The Robert C. Woods Apartments offers 147 permanently affordable residences and also houses the Wanda Patterson Women’s Residence, a 100-bed shelter reserved for single women. The units mix includes 125 studios, 88 of which are supportive housing for formerly homeless individuals, nine one-bedroom apartments and 13 two-bedroom residences. The other units are reserved for renters earning between 30 and 60 percent of the area median income. Residents have access to social service programming space, a community room, outdoor recreational space, bike storage, building-wide Wi-Fi and a laundry room.

August 25, 2025

Acquisitions California Multifamily Western

Pacific Coast Commercial Negotiates $4.5M Sale of Del Oro Apartments in San Diego

by Amy Works August 25, 2025

SAN DIEGO — Pacific Coast Commercial Real Estate has negotiated the sale of Del Oro Apartments, a value-add multifamily property in San Diego’s Hillcrest neighborhood. John Lopez and Cheryl Lopez acquired the asset from an undisclosed seller for $4.5 million. Citizens Private Bank provided acquisition financing for the buyers. Located at 3748-3772 Tenth Ave. and 918 Robinson Ave., Del Oro Apartments consists of an 18-unit apartment building and an adjacent duplex. The properties offers 15 studios averaging 326 square feet and five one-bedroom/one-bath units averaging 447 square feet. Zoned RM-3-9, the property also features nine garages. Ken Robak and David Dilday of Pacific Coast Commercial represented the seller, while Patti McKelvey of Coldwell Bank West represented the buyers in the transaction. Chicago Title Co. managed escrow and title services.

August 25, 2025

Development Loans Midwest Minnesota Multifamily

JLL Secures $55.6M for Development of 188-Unit Luxury Apartment Community in Metro Minneapolis

by Kristin Harlow August 25, 2025

EDEN PRAIRIE, MINN. — JLL Capital Markets has arranged joint venture equity and construction financing totaling $55.6 million for The Fox and The Grouse Phase II, a 188-unit apartment development in the Golden Triangle neighborhood of Eden Prairie. Josh Talberg, Scott Loving, Joe Peris, Matthew Schoenfeldt, Colin Ryan and Will Hintz of JLL represented the borrowers, Greco and Eagle Ridge Partners. JLL arranged a $39.1 million three-year, floating-rate loan through MidWestOne Bank and sourced $16.5 million in joint venture equity from Amstar Group. Construction is scheduled to begin immediately. The six-story development will offer a mix of studios, one-, two- and three-bedroom units, with 25 percent of the homes designated as affordable at 50 to 80 percent of the area median income. The project features 167,312 square feet of rentable space and 263 parking stalls. Amenities will include an outdoor pool, golf simulator, wellness center, work-from-home spaces, a theater room, clubroom, private dining area and underground parking. There are more than 9 acres of wetlands. Designed by BKV Group, the project represents the second phase of a transit-oriented development that will be directly connected to the Golden Triangle Station on the Southwest Light Rail Transit Green Line Extension, scheduled to …

August 25, 2025

Loans Multifamily New Jersey Northeast

G.S. Wilcox Arranges $85M in Financing for Jersey City Apartment Building

by Taylor Williams August 25, 2025

JERSEY CITY, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged $85 million in financing for Overlook Flats, a 297-unit apartment building located in the Journal Square area of Jersey City. Designed by Michels & Waldron with interiors by Builders Design, the 16-story building houses studio, one-, two- and three-bedroom units, as well as 40,000 square feet of commercial space. Residences are furnished with stainless steel appliances, designer cabinetry and quartz countertops. Outdoor amenities include a rooftop deck with a pool, kitchen, lounge area, picnic areas, bocce ball court and a pet play area. Inside, residents have access to coworking spaces, a children’s playroom, fitness center, golf simulator and a package room. Wesley Wilcox, Al Raymond and Will Gallagher of G.S. Wilcox arranged the five-year, fixed-rate loan through an undisclosed life insurance company.

August 25, 2025

Illinois Leasing Activity Midwest Multifamily Restaurant Retail

Egg Harbor Cafe to Open at Optima Verdana Apartments in Suburban Chicago

by Kristin Harlow August 25, 2025

WILMETTE, ILL. — Egg Harbor Cafe will open at Optima Verdana, a six-story, 100-unit luxury apartment complex in downtown Wilmette, on Tuesday, Aug. 26. Optima Inc. owns the property. The 4,100-square-foot restaurant maintains seating for 140 and is situated directly across from Wilmette’s Metra commuter rail station. Currently fully leased, the residences at Optima Verdana opened in 2023. Floor plans range from 660 to 2,790 square feet. Specializing in breakfast, brunch and lunch, Egg Harbor Cafe operates in Illinois, Wisconsin and Georgia. The new Wilmette location represents the second Egg Harbor within an Optima community, joining the Streeterville location that opened in 2019 at the 490-unit Optima Signature high-rise in downtown Chicago. Optima is planning a new 128-unit luxury building just south of Optima Verdana. Known as Optima Lumina, the project will replace the long-vacant former Imperial Motors car dealership. The developer intends to retain the existing Starbucks within the project’s 5,900 square feet of new commercial space. Optima Verdana and Optima Lumina will be separated by a new public, landscaped plaza.

August 25, 2025

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Negotiates $6.7M Sale of Hartford Apartment Complex

by Taylor Williams August 25, 2025

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $6.7 million sale of Sumner House Apartments, an 80-unit multifamily complex located in the Asylum Hill neighborhood of Hartford. Built in 1970, the property offers 18 studios, 29 one-bedroom units, 32 two-bedrooms units and a three-bedroom penthouse that was built as the home for the original developer. Rick Chozick and Steve Pappas of Chozick Realty brokered the deal. The buyer and seller were not disclosed.

August 25, 2025

Development Multifamily Student Housing Texas

Park7 Group Completes 30-Story Student Housing Tower at University of Texas at Austin

by Taylor Williams August 22, 2025

AUSTIN, TEXAS — Park7 Group has completed Icon, a 30-story student housing tower located near the University of Texas at Austin campus in the city’s West Campus neighborhood. The property offers 555 beds across 216 units in one- through five-bedroom configurations. Shared amenities include a rooftop pool, fitness center, media room, game and lounge spaces and study areas. The community also offers four levels of below-ground parking. The development team for the project included Hoar Construction, Rhode Partners, DCI Engineers, Blum Engineering, Wuest, Power Design, GMI, Southern Wall Systems and Kilgore Multifamily. Construction began in spring 2023 and topped out last fall.

August 22, 2025

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