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Multifamily

Arya-Grove-Universal-City
AcquisitionsMultifamilyTexas

Newmark Brokers Sale of 308-Unit Multifamily Property Near San Antonio

by Taylor Williams

UNIVERSAL CITY, TEXAS — Newmark has brokered the sale of Arya Grove, a 308-unit multifamily property in Universal City, a northeastern suburb of San Antonio. Built in 2006, the property features one-, two- and three-bedroom units with an average unit size of 800 square feet. Amenities include a pool, fitness center, dog park, playground and outdoor grilling and dining stations. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the seller, Austin-based Internacional Realty, in the transaction. Knightvest Residential purchased Arya Grove for an undisclosed price.

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Northpoint-Villas-Fort-Worth
AcquisitionsMultifamilyTexas

SPI Advisory Sells 276-Unit Northpoint Villas Apartments in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Texas-based investment firm SPI Advisory has sold Northpoint Villas, a 276-unit apartment complex in Fort Worth. Built in 2009, Northpoint Villas offers one-, two- and three-bedroom units and amenities such as a pool, playground, fitness center, coffee bar, dog park, game room, clubhouse and outdoor grilling and dining stations. SPI acquired Northpoint Villas in 2019 as part of a two-property portfolio deal and implemented a value-add program. The company also sold the other property, the 254-unit Oaks on Marketplace in metro Austin, in May. The buyer was not disclosed.

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Hawes-Crossing-Apts-Mesa-AZ
ArizonaDevelopmentMultifamilyWestern

HSR Breaks Ground on 419-Unit Multifamily Project in Mesa, Arizona

by Amy Works

MESA, ARIZ. — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., has broken ground on a three-story, 419-unit Class A multifamily community situated within Hawes Crossing, a 1,100-acre master-planned community in Mesa. Spanning 18 acres, the community will consist of 14 buildings and offer a variety of amenities, including a fitness center with gym, sauna, cold plunge and Zen garden; work-from-home areas; and a 2,000-square-foot entertainment lounge that opens to a courtyard. The courtyard will feature a resort-style pool and spa, festoon lighting and a covered grill lounge. Additional amenities will include pickleball courts, private dining, a leasing lobby, package room, pet spa and park, children’s play area and connectivity to the Hawes Crossing trail system. The project is scheduled to open in summer 2026.

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Citadel-Apts-Castle-Pines-CO
AcquisitionsColoradoMultifamilyWestern

Thompson Thrift Divests of Citadel at Castle Pines Multifamily Property Near Denver

by Amy Works

CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.

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CaliforniaLoansMultifamilyWestern

Berkadia Secures $46.7M in Refinancing for Arbor Park Apartments in Upland, California

by Amy Works

UPLAND, CALIF. — Berkadia has arranged $46.7 million in refinancing for Arbor Park Apartments in Upland. The seven-year loan features a 4.6 percent interest rate, full-term interest-only payments and a 65 percent loan-to-value ratio. Allan Freedman of Berkadia Los Angeles secured the loan for the borrower, California-based NNC Apartment Ventures. Located at 859 N. Mountain Ave., Arbor Park Apartments offers 260 garden-style residences.

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Mi-Place-@-Downingtown
LoansMultifamilyNortheastPennsylvania

CBRE Arranges $47.5M Loan for Refinancing of Metro Philadelphia Apartment Complex

by Taylor Williams

DOWNINGTOWN, PA. — CBRE has arranged a $47.5 million bridge loan for the refinancing of Phase I of Mi-Place@Downingtown, a 205-unit apartment complex located on the western outskirts of Philadelphia. The property comprises six three-story buildings that house one- and two-bedroom apartments and three-bedroom townhomes. Amenities include a pool, fitness center, clubhouse, outdoor grilling and dining stations and pickleball and basketball courts. Matthew Klauer and Cassandra Russell of CBRE arranged the three-year loan through an entity managed by Argentic Investment Management on behalf of the sponsor, Fernmoor Homes. At full build-out, Mi-Place@Downingtown will total 400 units.

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DevelopmentIllinoisMidwestMultifamily

Peak Properties Adds Stewart School Lofts in Chicago to Management Portfolio

by Kristin Harlow

CHICAGO — Peak Properties has added Stewart School Lofts in Chicago’s Uptown neighborhood to its management portfolio. The project was a residential conversion of a historic elementary school. The property now features 64 luxury apartment units ranging from studios to three-bedroom layouts. The units incorporate historic details such as wood trim, hardwood floors, exposed brick walls, chalkboards, original basketball court striping and original doors. Originally constructed in 1907, the Graeme Stewart Elementary School was home to students for more than 100 years before its closing in 2013. Peak Properties is the property manager, and Cross Street is handling leasing.

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The-Halden-White-Plains
AcquisitionsMultifamilyNew YorkNortheast

JLL Brokers Sale of 303-Unit Apartment Community in White Plains, New York

by Taylor Williams

WHITE PLAINS, N.Y. — JLL has brokered the sale of The Halden, a 303-unit apartment community located north of New York City in White Plains. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 999 square feet. Amenities include a pool, clubroom, pet spa, conference room, café and lounge, fitness center and outdoor lounge seating. JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The Halden was 96 percent occupied at the time of sale.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Negotiates Sale of 176-Unit Apartment Complex in Williamstown, New Jersey

by Taylor Williams

WILLIAMSTOWN, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has negotiated the sale of Laurelton Village Apartments, a 176-unit multifamily complex in Williamstown, about 25 miles south of Philadelphia. Built in 1970, the property exclusively offers two-bedroom units that are housed in 14 buildings on a nine-acre site. Amenities include a pool, playground and onsite laundry facilities. Jason Pucci of Kislak represented the seller, an affiliate of New Jersey-based investment firm Kamson Corp., in the deal. Barry Waisbrod, also with Kislak, procured the buyer. The deal traded in conjunction with a 14-unit apartment complex in Bergen County for a combined price of $31 million.

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DevelopmentFloridaLoansMultifamilySoutheast

Clearline Obtains $95M in Construction Financing for Excel Miami Multifamily Development

by John Nelson

MIAMI — Clearline Real Estate, a multifamily development firm with offices in New York City and Miami, has obtained $95 million in financing for the construction of Excel Miami, a 24-story apartment tower. Clearline is developing the 427-unit apartment community at 1550 N.E. Miami Place in the city’s Arts & Entertainment District. The financing includes a $68.5 million senior loan from Centennial Bank and a $26 million mezzanine loan from Southern Realty Trust Inc., which syndicated $13 million to affiliate firm Sunrise Realty Trust. Designed by Arquitectonica, Excel Miami will offer studio, one- and two-bedroom apartments, as well as 13 townhouse loft units. Amenities will include a pool, yoga deck, fitness room, coworking space, screening room and podcast suites. The construction timeline was not released.

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