Multifamily

BNE Real Estate Completes 205-Unit Multifamily Project in South Amboy, New Jersey

by Taylor Williams July 21, 2025

SOUTH AMBOY, N.J. — BNE Real Estate Group has completed The Pearl at Station Bay, a 205-unit multifamily project located about 30 miles south of New York City in South Amboy. Designed by Minno & Wasko Architects and Planners with interiors by Mary Cook Associates, the four-story building was developed as part of Phase II of Station Bay, a $500 million waterfront redevelopment of the former Manhattan Beach Club site. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, fitness center with a yoga studio, golf simulator lounge, game lounge, coworking space with private offices, café with coffee and a snack bar, private event suite with a bar and lounge, dog run and outdoor grilling and dining stations. Rents start in the mid-$2000s for a studio apartment.

July 21, 2025

Acquisitions Multifamily New Jersey Northeast

CBRE Negotiates Sale of 116-Unit Apartment Complex in Morris Plains, New Jersey

by Taylor Williams July 21, 2025

MORRIS PLAINS, N.J. — CBRE has negotiated the sale of The Highlands at Morris Plains, a 116-unit apartment complex in Northern New Jersey. Built in 2003, the property offers one- and two-bedroom units and amenities such as a fitness center, business center, dog run, outdoor grilling and dining stations and package handling service. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE represented the undisclosed seller in the transaction and procured the buyer, a joint venture between Shamah Properties and Sagard Real Estate.

July 21, 2025

Development Multifamily New York Northeast

Davis Cos., Eloise Capital Begin Leasing 97-Unit Apartment Building in Harlem

by Taylor Williams July 21, 2025

NEW YORK CITY — A partnership between Boston-based investment firm The Davis Cos. and Eloise Capital has begun leasing 1975 Madison, a 97-unit apartment building in Harlem. The site is located within the newly formed Harlem 125th Street Business Improvement District. Designed by DXA Studio and built by Broadway Construction Group, the building houses one- and two-bedroom units and amenities such as a wellness garden, coworking area, media room, fitness center, dog wash station and a penthouse lounge. Rents start at approximately $3,350 per month for a one-bedroom apartment.

July 21, 2025

Colorado Loans Multifamily Western

Dwight Mortgage Trust Provides $43M Bridge Loan for Avian Apartments in Colorado Springs

by Amy Works July 21, 2025

COLORADO SPRINGS, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $43 million bridge loan to refinance Avian, a multifamily community in downtown Colorado Springs. Avian features 148 apartments, a parking garage, resort-style pool, gym and work-from-home lounges. Brandon Baksh and Talisse Thompson of Dwight Capital originated the loan for the sponsor, Jackson Dearborn Partners. Dwight closed the loan upon issuance of the initial Temporary Certificate of Occupancy. Proceeds were used to repay the project’s construction loan and fund transaction-related costs.

July 21, 2025

Acquisitions Multifamily Washington Western

CBRE Negotiates $25.5M Sale of Multifamily Property in Spokane Valley, Washington

by Amy Works July 21, 2025

SPOKANE VALLEY, WASH. — CBRE has negotiated the $25.5 million sale of Village on Broadway, an apartment property in Spokane Valley. Josh McDonald, Joe Nydahl and Jordan Louie of CBRE represented the undisclosed seller in the transaction. The name of the buyer was also not released. Located at 12623 E. Broadway Ave., Village on Broadway offers 148 one-, two- and three-bedroom units with in-unit washers/dryers. Community amenities include covered parking, a community garden, dog park, playground and a community barbecue area. The property was built in 1996.

July 21, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

Stellar Senior Living Acquires 152-Unit Community in Marana, Arizona

by Amy Works July 21, 2025

MARANA, ARIZ. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.

July 21, 2025

Development Midwest Multifamily Wisconsin

Inland Completes 261-Unit Evoni Apartments in Milwaukee’s Historic Third Ward

by Kristin Harlow July 21, 2025

MILWAUKEE — Inland Real Estate Investment Corp. has completed Evoni Apartments in Milwaukee’s Historic Third Ward district. Inland completed the 261-unit luxury apartment project in a joint venture with Kaeding Development Group LLC. Located adjacent to the Henry Maier Festival Park and Lake Michigan, the five-story property features 60 studios, 122 one-bedroom units, 66 two-bedroom units and 13 three-story residences. Amenities include a pool, rooftop lounge, sky deck, outdoor fire pits, a community recreation room, fitness center, yoga room, indoor sauna, dog park, pet washing station and package room. The project marks the fourth investment and second ground-up multifamily development of which Inland Investments has partnered with Kaeding.

July 21, 2025

Development Loans Multifamily New York Northeast Top Stories

SCALE Lending Provides $305M Construction Loan for Bronx Multifamily Project

by Taylor Williams July 21, 2025

NEW YORK CITY — SCALE Lending, the debt financing arm of New York City-based Slate Property Group, has provided a $305 million construction loan for a new multifamily project in the Mott Haven area of The Bronx. The borrower is locally based development and investment firm The Beitel Group. The unnamed project will comprise two interconnected buildings that will rise 40 and 26 floors and house 755 studio, one- and two-bedroom apartments. Amenities will include an outdoor pool, large outdoor terrace, gym with sauna and steam room, pickleball court, golf simulator, coworking area, party room and children’s play room, as well as 11,500 square feet of retail space. Beitel Group bought the land at 355 Exterior St., which is situated along the Harlem River, last fall and subsequently demolished all existing structures. Prestige Construction NY is serving as the general contractor for the project, which has been vested into the city’s 421a program for inclusion of an affordable housing component. Landstone Capital Group arranged the construction loan, which carries an 18-month term with two six-month extension options, through SCALE Lending on behalf of Beitel Group. Construction is slated for a June 2026 completion. “The Mott Haven submarket of New York …

July 21, 2025

Acquisitions Multifamily Washington Western

MLG Capital Acquires 240-Unit Wellington Apartments in Silverdale, Washington

by Amy Works July 18, 2025

SILVERDALE, WASH. — MLG Capital has entered the Washington market with the acquisition Wellington Apartment Homes, a multifamily property in Silverdale, located approximately 30 miles west of Seattle. Terms of the transaction were not disclosed. The garden-style property features 240 apartments, bayside views, a heated pool, clubhouse, fitness center and dog park. MLG plans to implement interior and exterior renovations, including installing stainless steel appliances, granite countertops and other premium features in all units, as well as improving property curb appeal and enhancing community amenities.

July 18, 2025

Colorado Development Multifamily Western

Grovewood Community Development Opens 81-Unit Affordable Housing Project in Aurora, Colorado

by Amy Works July 18, 2025

AURORA, COLO. — Grovewood Community Development has opened Sapling Grove Apartments, a mixed-income affordable housing property located at 10151 E. Jewell Ave. in Aurora. At full build-out, the two-phase Sapling Grove will offer more than 130 apartments. The 86,553-square-foot first phase features 81 one-, two- and three-bedroom floor plans with energy-efficient appliances, air conditioning, in-unit washers/dryers, walk-in closets and paid utilities. Community amenities include a fitness center, outdoor community gathering spaces with a large, covered picnic area, a playground, public art installations, a furnished rooftop patio, walking trails and an open space with native landscaping. Additionally, the community has a dedicated public space that will provide the greater community access to resources for health and wellness through an onsite Community Resource Center. The second phase will include 50 seniors housing units. Project funding was provided by 22 funding sources, including the City of Aurora, Arapahoe County, the Colorado Division of Housing, the Colorado Housing and Finance Authority, Impact Development Fund, Grow America, Sugar Creek Capital and the Aurora Housing Authority. A significant grant from the Colorado Health Foundation helped fund the property’s outdoor recreation spaces and onsite wellness initiatives.

July 18, 2025

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