Multifamily

Hunt Cos. Acquires Majority Interest in Carter

by John Nelson July 22, 2025

EL PASO, TEXAS AND ATLANTA — Hunts Cos. Inc. has acquired a controlling interest in Carter, a mixed-use and residential real estate investment and development firm based in Atlanta. The El Paso-based firm is acquiring the majority stake in Carter and buying out longtime CEO and chairman Bob Peterson, who has subsequently announced his retirement. Current CEO and president Scott Taylor will continue to oversee the day-to-day operations at Carter post-acquisition. Terms of the transaction were not released. The partnership aims to grow Carter’s banking relationships, expand the company’s mixed-use development platform and secure additional investment opportunities in key markets. Hunt Cos. and Carter have previously collaborated on Prospect Lake Wire, a 22-acre mixed-use development underway in Lakeland, Fla., and for The DeSOTA, a luxury apartment development in Sarasota, Fla.

July 22, 2025

Development Maryland Multifamily Seniors Housing Southeast

Greystar to Develop 175-Unit Active Adult Project at Annapolis Town Center in Maryland

by John Nelson July 22, 2025

ANNAPOLIS, MD. — Greystar has announced plans to develop a new active adult project in Annapolis. Upon completion, the unnamed community will total 175 units, with a mix of one-, two- and three-bedroom residences. Amenities at the five-story development will include a library, club room, kitchen, fitness studio, pet spa, swimming pool and an exterior courtyard. Greystar recently acquired a 2.2-acre development site within Annapolis Town Center for the project. Construction is currently underway, and leasing is scheduled to begin in spring 2026. Annapolis Town Center features more than 50 retail stores and restaurants. The new community’s location will provide access to more than 557,000 square feet of retail, as well as connectivity to Washington, D.C., downtown Baltimore and Bethesda, Md.

July 22, 2025

Development Multifamily Office Southeast Virginia

Penzance Receives Approval for Office-to-Residential Conversion Project in Northern Virginia

by John Nelson July 22, 2025

ARLINGTON, VA. — Penzance has received approval from Arlington County for the proposed redevelopment of Ballston One, an office building located at 4601 N. Fairfax Drive in Arlington’s Ballston neighborhood. The approved plan will convert the existing seven-story office building into a new residential community totaling 328 multifamily units comprising studio, one- and two-bedroom apartments, as well as 13 two-story loft homes. The project will include the adaptive reuse of Ballston One’s underground parking garage. Penzance is targeting LEED Gold certification for the redevelopment, which will include new bird-friendly glass, dark-sky compliant lighting and a green roof, as well as 130 bicycle parking spaces and 65 electric vehicle-ready parking spaces. Planned amenities will include a landscaped courtyard with a pool, outdoor kitchen and lounge areas, as well as a rooftop terrace with grills and social spaces. Indoor amenities will include a fitness center, yoga studio, golf simulator, coworking lounge, makerspace, club room, playroom and 24/7 concierge service. As part of the agreement with Arlington County, Penzance is contributing approximately $3.2 million toward the county’s affordable housing program.

July 22, 2025

Loans Massachusetts Multifamily Northeast

PGIM Real Estate Provides $132M in Financing for Boston Multifamily Property

by Taylor Williams July 22, 2025

BOSTON — PGIM Real Estate has provided $132 million in financing for The Viridian, a 342-unit multifamily property in Boston’s Fenway neighborhood. The Viridian offers studio, one-, two- and three-bedroom units, as well as penthouses, that are furnished with floor-to-ceiling windows, designer kitchens, spa-inspired baths, walk-in closets and Juliet balconies. Amenities include two rooftop decks with outdoor lounges, a fitness center and coworking and social lounges. Amy Lousararian, Madeline Joyce and Michael Schwarze of JLL arranged the floating-rate financing on behalf of the owner, The Abbey Group.

July 22, 2025

Colorado Loans Multifamily Western

JLL Secures $27.2M Refinancing for 124-Unit Apartment Community in Denver

by Amy Works July 22, 2025

DENVER — JLL Capital Markets has arranged $27.2 million in refinancing for The Kenyon, a multifamily property at 777 E. 17th Ave. in Denver’s Uptown neighborhood. Kristian Lichtenfels and Mark Erland of JLL secured the financing for the borrower, the single-purpose joint venture entity of Corum Real Estate Group, ProspectHill Group and Geolo Capital. Delivered in May 2024, The Kenyon offers 124 studio, one- and two-bedroom apartments with 40 unique floor plans, including 27 balcony units and 17 split-level mezzanine units. Community amenities include a two-story fitness center, private work pods and a rooftop deck with grills.

July 22, 2025

Acquisitions Multifamily Washington Western

Nearon Enterprises Buys 72-Unit Briggs Village Multifamily Property in Olympia, Washington

by Amy Works July 22, 2025

OLYMPIA, WASH. — Nearon Enterprises has acquired Briggs Village, an apartment community in Olympia, from Glencrest Group for an undisclosed price. Situated in the 137-acre Briggs Village master-planned community, the asset features 72 apartments. The community was built in 2019. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the buyer and facilitated the transaction.

July 22, 2025

Acquisitions Midwest Minnesota Multifamily

Waterton Acquires 30-Story Apartment Tower in Downtown Minneapolis

by Kristin Harlow July 22, 2025

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 30-story apartment tower with 370 units in downtown Minneapolis. The seller was a joint venture between Opus Development Co. and Corebridge Real Estate Investors. Opus constructed, designed and developed the property in 2018. Located at 365 Nicollet Mall in the city’s Gateway District, the building features studios, one-, two- and three-bedroom units. There are 50 penthouse units. Amenities at the property include a fitness center, yoga studio, sauna, relaxation room, outdoor pool, entertainment kitchen, recreation lounge, coworking space, golf simulator, pet spa and dog run. Waterton plans to implement a light value-add renovation program across residences and common areas. Plans call for refreshed furniture, fixtures and equipment, as well as new flooring and equipment in the fitness center. Ted Abramson, Abe Appert and Keith Collins of CBRE represented the seller.

July 22, 2025

Acquisitions Illinois Midwest Multifamily

Essex Arranges $3M Sale of Three-Building Multifamily Portfolio in Chicago

by Kristin Harlow July 22, 2025

CHICAGO — Essex Realty Group LLC has arranged the $3 million sale of a three-building multifamily portfolio totaling 55 units in Chicago’s West Chatham neighborhood. The three-story properties feature six studios, 26 one-bedroom units, 12 two-bedroom units and four three-bedroom apartments as well as eight commercial spaces. Joe Kahlhammer of Essex brokered the transaction. The seller was a long-term local owner.

July 22, 2025

Development Georgia Multifamily Southeast

Portman to Develop 332-Unit Multifamily Community in Metro Atlanta

by Abby Cox July 21, 2025

FAIRBURN, GA. — Locally based Portman will develop a 332-unit multifamily community in Fairburn, roughly 20 miles south of downtown Atlanta. Dubbed Meadow Glen Village, Portman will begin construction this month, with plans to deliver the project in June 2027. The development will span nine buildings — each with dedicated parking — and will include a variety of floorplans and layouts. Meadow Glen Village will also feature a public greenspace that will be flanked on both sides by two 6,000-square-foot retail buildings that will be curated with food-and-beverage concepts and service retailers. Portman’s residential team has developed more than 20,000 residential units, including multifamily communities like Sora at Spring Quarter in Midtown Atlanta, Starling in Nashville’s Germantown neighborhood, Vera at Savona Mill in West End Charlotte and Linea in Charlotte’s South End district.

July 21, 2025

Acquisitions Florida Multifamily Southeast

Atlas Real Estate Acquires 384-Unit Multifamily Community in Orlando

by Abby Cox July 21, 2025

ORLANDO, FLA. — Atlas Real Estate Partners has acquired Perse Apartments, a 384-unit multifamily complex located in the Little Lake Bryan neighborhood of Orlando. Ted Taylor and Kyle Butler or JLL’s Investment Sales and Advisory team represented the seller, TRION Properties, in the transaction. Scott Wadler, Mitch Sinberg, Matt Robbin and Brad Williamson of Berkadia arranged financing for the acquisition. Originally built in 2008, Perse Apartments is situated along the I-Drive corridor at 8151 Peterson Woods Drive and features one-, two- and three-bedroom floorplans averaging more than 1,100 square feet in size. Amenities include a resort-style swimming pool, fitness center, clubhouse, courtyard, conference rooms, laundry facilities and a grill and picnic area. Atlas Real Estate plans to renovate unit interiors and common areas, as well as to enhance the property’s amenities with repositioning the swimming pool with a sundeck and cabanas and improving the fitness center and clubhouse.

July 21, 2025

Newer Posts

Older Posts