Multifamily

Furman University Completes $27.6M Residence Hall in Greenville, South Carolina

by John Nelson September 9, 2024

GREENVILLE, S.C. — Furman University has completed the development of Lakeview Hall, a new student housing community at the South Housing area of the university’s campus in Greenville. Amenities at the property, which totals 210 beds, include study spaces, common areas, a laundry facility, full kitchen and offices for the Center for Interpersonal Connections (CIC). McMillan Pazdan Smith and Mackey Mitchell Architects served as architects for the development, with Harper General Contractors acting as the general contractor. Engineers included RMF Engineering, Professional Engineering Associates and ADC Engineering. The new residence hall marks the first phase of a multi-phase project that will also include renovations to older residential buildings within the South Housing portion of the campus. Upon completion, South Housing will total 718 beds for first-year students.

September 9, 2024

Development Multifamily Texas

Berkadia Arranges Equity for 305-Unit Multifamily Project in Grand Prairie, Texas

by Taylor Williams September 9, 2024

GRAND PRAIRIE, TEXAS — Berkadia has arranged an undisclosed amount of equity for Casona, a 305-unit multifamily project that will be located in the central metroplex city of Grand Prairie. Casona will be situated on a 33-acre site at 3800 Robinson Road, with roughly half the acreage to be preserved for walking trails and access to nature. Units will come in one-, two- and three-bedroom floor plans. Physical amenities will include an 11,000-square-foot clubhouse; a resort-style pool with a pavilion with an indoor/outdoor lounge; a trailhead amenity area with outdoor kitchen facilities and pickleball courts; a five-hole “chip & putt” golf course; and a quarter-acre dog park. Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia sourced the equity from Arizona-based Parse Capital on behalf of the developers, Pivotal Residential and Novu Residential Group. Construction is scheduled to begin before the end of the month.

September 9, 2024

Development Mixed-Use Multifamily Southeast Tennessee

Sentral to Operate 361-Unit Everett Residential Tower at Nashville Yards

by John Nelson September 9, 2024

NASHVILLE, TENN. — Residential hospitality operator Sentral has been selected by master developer Southwest Value Partners to manage The Everett, the first of two residential towers to be developed at Nashville Yards, a 19-acre mixed-use project currently underway in Nashville. Amenities at the tower, which totals 361 units in one- and two-bedroom layouts, will include a third-floor deck with a pool, spa, lounge and grilling stations; a pet wash and dog park; fitness center and yoga area; game room; resident bar and coworking space. Move-ins at The Everett are scheduled to begin in December. Upon completion, Nashville Yards will also feature a 591-room Grand Hyatt Nashville hotel, concert venue, office buildings and retail and restaurant space, as well as plazas, courtyards and green spaces.

September 9, 2024

Development Multifamily New York Northeast

Lendlease Tops Out 834-Unit Waterfront Multifamily Project in Brooklyn

by Taylor Williams September 9, 2024

NEW YORK CITY — Developer Lendlease has topped out 1 Java Street, an 834-unit waterfront multifamily project in Brooklyn’s Greenpoint neighborhood. Designed by architecture firm Marvel, the development comprises five interconnected buildings across a full city block. In addition, 1 Java Street will house 13,000 square feet of retail and restaurant space, and 30 percent of the units will be reserved as affordable housing. A syndicate of lenders led by Bank of America provided $360 million in construction financing for the project, which Lendlease is developing in partnership with Australian pension fund Aware Super and will include the construction of an 18,000-square-foot waterfront park. Construction began in spring 2023. Completion is slated for 2026.

September 9, 2024

Acquisitions Multifamily New Jersey Northeast

Kislak Arranges Sale of 44-Unit Indian Oaks Apartments in Atlantic City

by Taylor Williams September 9, 2024

ATLANTIC CITY, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the sale of Indian Oaks Apartments, a 44-unit multifamily complex in Atlantic City. The sales price was $5.8 million. The property consists of 11 buildings that were recently renovated and house 10 one-bedroom units, six two-bedroom apartments and 28 two-bedroom townhouses. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

September 9, 2024

Acquisitions California Multifamily Western

CBRE Facilitates Sale of 118-Unit EVIVA Midtown Apartments in Sacramento

by Amy Works September 9, 2024

SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a Class A multifamily property in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. Located at 1531 N. St., the six-story community offers 118 studio, one- and two-bedroom units with open floor plans, floor-to-ceiling windows, in-unit washers and dryers and Energy Star-rated stainless steel appliances. Community amenities include 5,639 square feet of retail space, a 24-hour fitness center, community lounge, fire pit, outdoor courtyard and 124 enclosed garage parking spaces.

September 9, 2024

Development Loans Multifamily Washington Western

Cushman & Wakefield Arranges $25.3M Construction Loan for Saltese Creek Multifamily Project in Spokane, Washington

by Amy Works September 9, 2024

SPOKANE, WASH. — Cushman & Wakefield has secured $25.3 million in construction financing on behalf of Hawkins and its partners for the development of Saltese Creek, an apartment property in Spokane. Chris Moyer, Paul Roeter and Meredith Donovan of Cushman & Wakefield arranged the financing through Bok Financial on behalf of the borrower. Situated just south of the intersection of S. Tschirley Road and E. 6th Avenue, Saltese Creek will feature 192 one-, two- and three-bedroom apartments spread across six mid-rise, garden-style residential buildings. The community will also offer a 4,128-square-foot clubhouse with a fitness center, dog wash, indoor/outdoor lounge, barbecue areas and a swimming pool.

September 9, 2024

Loans Multifamily Seniors Housing Washington Western

Ziegler Arranges $13.3M Financing for Bayview Retirement Community in Seattle

by Amy Works September 9, 2024

SEATTLE — Ziegler has arranged $13.3 million in bond financing for Bayview Retirement Community in Seattle. The Washington State Housing Finance Commission issued the bonds. Bayview Manor Homes, which owns and operates Bayview Retirement Community, is a Washington nonprofit corporation and 501(c)(3) organization that was established in 1961 to care for the elderly residents of Seattle’s Queen Anne neighborhood and beyond. The community features 133 independent living apartments and 44 assisted living apartments, which includes 10 memory care units. Bayview also operates an intergenerational childcare center located at the community for up to 42 children. The proceeds of the Series 2024 Bonds, together with other available funds of the corporation, will be used to pay or reimburse costs incurred by Bayview in connection with the installation of new exterior windows across the majority of the community, as well as to make improvements to unit balconies, fund predevelopment costs of a future project and undertake routine capital improvements as determined by management.

September 9, 2024

Development Multifamily Student Housing Texas

Hoar Construction Tops Out 30-Story Icon Student Housing Tower at UT Austin

by Taylor Williams September 6, 2024

AUSTIN, TEXAS — Hoar Construction has topped out Icon, a 30-story student housing tower in the West Campus neighborhood of the University of Texas at Austin. The MDL Group is the developer for the project, which will house 555 beds across 216 units ranging from one- to five-bedroom layouts. Amenities will include a rooftop pool, fitness center, game and lounge rooms, podcast studio and student workspaces. The project will also feature four levels of below-ground parking. Project partners include Rhode Partners (architect), DCI Engineers (structural engineer) and Blum Engineering (mechanical, electrical and plumbing). Construction began last spring. Completion is slated for summer 2025.

September 6, 2024

Development Massachusetts Multifamily Northeast

Chestnut Hill Realty Delivers 250-Unit Multifamily Project in Boston

by Taylor Williams September 6, 2024

BOSTON — Local developer Chestnut Hill Realty has delivered Franklin at Hancock Village, a 250-unit multifamily project in the Brookline area of Boston. The eight-story building houses one-, two- and three-bedroom units, and 20 percent of the residences have been reserved as affordable housing. Amenities include an outdoor putting green, grilling and picnic area, resident lounges, fitness center, café, community room, conference rooms, game and media rooms and a pet spa. Move-ins will begin in the coming weeks. Rents start at roughly $3,200 per month for a one-bedroom apartment.

September 6, 2024

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