Multifamily

Riverside, Woodfield Top Out 42-Story Apartment Tower in Charlotte

by John Nelson February 11, 2025

CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have topped out a 42-story apartment tower in Charlotte. Goettsch Partners served as the architect and Clark Construction Group served as the general contractor for the 409-unit property, which is the multifamily component of the Queensbridge Collective mixed-use development. The development also includes a 35-story office tower, nearly 30,000 square feet of retail space and more than 90,000 square feet of indoor/outdoor amenity space, including more than two acres of indoor and outdoor fitness, recreation and entertainment spaces. Charlotte-based Night Swim Coffee is scheduled to open later this year on the ground floor of the apartment tower, and Denver-based steakhouse Guard and Grace will debut its 10,224-square-foot venue on the 10th floor in mid-2026. Riverside and Woodfield broke ground on Queensbridge Collective in May 2023 and plan to fully deliver the project in 2027.

February 11, 2025

Affordable Housing Loans Multifamily Texas

Bolour Provides Acquisition Loan for Affordable Housing Property in Southwest Dallas

by Taylor Williams February 11, 2025

DALLAS — An affiliate of California-based investment, development and finance company Bolour Associates Inc. has provided an undisclosed amount of acquisition financing for a 112-unit affordable housing community located at 4753 Duncanville Road in southwest Dallas. The property was originally built in 1989 and features one-, two- and three-units that range in size from 663 to 1,059 square feet. Income restrictions for the community were not disclosed. John Choi of Concord Summit Capital arranged the financing on behalf of the unnamed borrower.

February 11, 2025

Development Georgia Mixed-Use Multifamily Southeast

High Street Residential Breaks Ground on 350-Unit Apartment Community in Brookhaven, Georgia

by John Nelson February 11, 2025

BROOKHAVEN, GA. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on Residences at Perimeter Summit, a 350-unit apartment community located at 1251 Perimeter Summit Parkway in Brookhaven. Situated approximately nine miles from Midtown Atlanta, the seven-story apartment community will serve as a pillar of Perimeter Summit, a 1.7 million-square-foot mixed-use campus that also includes offices, shops, restaurants, a 182-room hotel and condominiums. Spear Street Capital is heading the office development at Perimeter Summit and recently partnered with STHRN Hospitality to add two new restaurants set to open this year: The Little Gem and Pizza Stop. Residences at Perimeter Summit will include a mix of studio, one-, two- and three-bedroom apartments with an average unit size of more than 900 square feet. Community amenities will include a resort-style pool, three courtyards, 1,200-square-foot speakeasy lounge, fitness center, clubroom, coworking center, private conference and study rooms, tasting room, pet spa, golf simulator, wellness sauna and access to walking trails and two MARTA stations. The design-build team includes architect Cooper Carry and general contractor New South Construction. The construction timeline was not disclosed.

February 11, 2025

Acquisitions Kentucky Loans Southeast Student Housing

Pearlmark Provides Mezzanine Loan for 534-Bed Student Housing Property Near Western Kentucky University

by John Nelson February 11, 2025

BOWLING GREEN, KY. — Pearlmark has provided a mezzanine loan for the acquisition of Midtown at WKU, a 534-bed student housing community located adjacent to Western Kentucky University in Bowling Green. Eagle Realty Group provided the senior loan on behalf of the borrower, ABCampus. Greg Young of Colliers Mortgage arranged the financing. Located on Center Street, Midtown at WKU features 189 units with bed-to-bath parity, as well as an amenity package that includes a fitness center, rooftop pool, study center, 24-hour maintenance staff, courtyard, clubhouse and private study rooms.

February 11, 2025

Company News Multifamily Texas

Franklin Street Launches Multifamily Investment Sales Division in Texas

by Taylor Williams February 11, 2025

AUSTIN, TEXAS — Franklin Street, a Tampa-based commercial real estate services firm, has launched a multifamily investment sales division for Texas markets. The business unit will operate as a seven-person team from the firm’s existing office in Austin, which opened about a year ago and now comprises more than 20 professionals who also offer services for land, office and industrial verticals. Patrick Strake, an Austin native and former Marcus & Millichap team member, will lead the new multifamily division.

February 11, 2025

Loans Multifamily New York Northeast

Dwight Mortgage Trust Provides $148M Construction Loan for Queens Multifamily Project

by Taylor Williams February 11, 2025

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $148 million construction loan for Sutphin II, a 524-unit multifamily project that will be located in the Jamaica area of Queens. The 24-story building will consist of 366 market-rate units and 158 affordable units that will come in studio, one-, two- and three-bedroom formats, as well as 7,750 square feet of ground-floor retail space. Amenities will include a gym and yoga studio, business center, game room, theater, resident lounge, children’s playroom, pet spa and a library. Steven Hersko of SHB Group arranged the loan on behalf of the developer, a partnership led by local investor Moshe Braver.

February 11, 2025

Loans Multifamily New Jersey Northeast

Reynolds Receives $30.5M Loan for Refinancing of Northern New Jersey Apartment Complex

by Taylor Williams February 11, 2025

ORANGE, N.J. — Reynolds Asset Management has received a $30.5 million Fannie Mae loan for the refinancing of The Mural, a 103-unit apartment complex located in the Northern New Jersey community of Orange. Completed last spring, The Mural offers studio, one- and two-bedroom units and amenities such as a fitness center, courtyard plaza, outdoor grilling and dining stations and an outdoor lounge. Thomas Didio Jr. and Max Custer of JLL originated the five-year loan on behalf of Reynolds. Miami-based Pensam Capital also provided a preferred equity investment as part of the asset’s recapitalization.

February 11, 2025

Acquisitions California Multifamily Seniors Housing Western

ONELIFE Purchases 137-Unit Assisted Living, Memory Care Community in Sacramento

by Amy Works February 11, 2025

SACRAMENTO, CALIF. — Developer and operator ONELIFE Senior Living has acquired The Woodlake Senior Living, a 137-unit community located in Sacramento. Amenities at the property, which offers assisted living and memory care residences, include a movie theater, game room, fitness center, salon, library and arts and crafts room. The acquisition marks the fourth senior living community in California for ONELIFE, which merged with Ally Senior Living earlier this year. “The Woodlake Senior Living represents a strategic expansion of our California presence,” says Dan Williams, CEO of ONELIFE. According to the company, the state’s population of individuals age 65 and older is expected to reach 9 million by 2040. Denver-based ONELIFE was founded in 2009.

February 11, 2025

Colorado Loans Multifamily Western

JLL Provides $7.5M Loan for Multifamily Community in Eagle, Colorado

by Amy Works February 11, 2025

EAGLE, COLO. — JLL Capital Markets has provided a $7.5 million Freddie Mac loan for House Apartments, a multifamily property in Eagle. Tony Nargi led the JLL Capital Market’s Debt Advisory team to originate the 10-year, fixed-rate loan on behalf of the borrower, Brikwell. Situated on 4.8 acres at 85 Pond Road, the three-story property features 54 units totaling 27,838 rentable square feet. Community amenities include an on-site exercise facility, community kitchen, elevator and dedicated work-from-home spaces. The asset was built in 1998.

February 11, 2025

Acquisitions Illinois Midwest Multifamily

Eastham Capital, Bender Cos. Acquire Apartment Community in Suburban Chicago for $75.8M

by Kristin Harlow February 11, 2025

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit apartment community in the Chicago suburb of Hoffman Estates, for $75.8 million. The asset will be renamed Hoffman Hills Apartments as part of a property update program. South Florida-based Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos., which has co-invested and partnered with Eastham Capital on multiple projects, will oversee the day-to-day management of the property. The community is currently 96 percent occupied with average rents of just over $1,349 per month. The acquisition includes a renovation budget of $6.5 million, which will include interior unit, exterior and amenity upgrades. Built in 1970, the property features amenities such as a pool, clubhouse, fitness center, private work-from-home suites and an outdoor dining area. Kevin Girard, Mark Stern, David Gaines, Zach Kaufman, Betsy Romenesko and Sam Grohe of JLL represented the sellers, Tricap Residential Group and Wolcott Group. Trent Niederberger, Medina Spiodic and Rebecca Brielmaier of JLL originated a five-year, fixed-rate loan through Freddie Mac for the buyers.

February 11, 2025

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