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Multifamily

The-Oasis-San-Marcos
AcquisitionsMultifamilyStudent HousingTexas

Palladius Capital Management Sells 672-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams

SAN MARCOS, TEXAS — Austin-based investment firm Palladius Capital Management has sold The Oasis, a 672-bed student housing property in San Marcos, located roughly midway between Austin and San Antonio. The 240-unit property is located about three miles from the Texas State University campus and offers amenities such as a pool, fitness center, clubhouse and study lounges. Palladius acquired the property in spring 2022 and implemented a value-add program prior to the sale. Chris Epp of Walker & Dunlop represented Palladius in the transaction The buyer and sales price were not disclosed.

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Lana-Apartments-Denton
AcquisitionsMultifamilyTexas

SPI Advisory Acquires 248-Unit Multifamily Portfolio in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Texas-based private equity firm SPI Advisory has acquired a portfolio of two multifamily properties totaling 248 units in the North Texas city of Denton. Lana is a 116-unit, garden-style property that was originally built in 1981, and Aspire is a 132-unit complex that was constructed in 1970. Both properties offer one- and two-bedroom units and underwent capital improvement programs over the past two years. Mark Allen of GREA represented the seller, Legacy REI, in the transaction. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.

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DevelopmentFloridaMultifamilySoutheast

Mast Capital, AEW Complete 342-Unit Remi on the River Apartments in Miami

by John Nelson

MIAMI — Mast Capital and AEW have completed Remi on the River, a 342-unit apartment community located at 999 N.W. 7th St. in Miami’s River District. The eight-story property features 400 feet of frontage along the Miami River, as well as studio, one-, two- and three-bedroom apartments spanning from 465 to 1,334 square feet in size. Monthly rental rates range from $2,171 to $4,897, according to Apartments.com. Designed by Corwil Architects, Remi on the River’s amenities include a resort-style swimming pool, aqua lounge, fitness center, clubroom, private parking and a resident lounge with coworking spaces. Remi on the River is Phase II of a multifamily development by Mast Capital. Phase I of the project was MAST on Waterline Miami, a 346-unit apartment community formerly known as Waterline Miami.

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AcquisitionsBuild-to-RentMultifamilyNorth CarolinaSingle-Family RentalSoutheast

Capital Square Purchases 113-Unit Build-to-Rent Residential Community in Castle Hayne, North Carolina

by John Nelson

CASTLE HAYNE, N.C. — Capital Square has purchased Sidbury Station, a newly constructed build-to-rent (BTR) residential community located at 6105 Dichondra Road in Castle Hayne, part of the Wilmington metropolitan statistical area. The sales price was not disclosed. Delivered last year by homebuilding giant D.R. Horton, the community features 113 detached single-family rental (SFR) homes, as well as a resort-style swimming pool, fitness center, clubhouse, sport court and a playground. Sidbury Station’s homes average 1,829 square feet in size with floor plans ranging from three to five bedrooms. Features include granite countertops, stainless steel appliances, full-size washers and dryers, walk-in closets, smart home integration, backyards and attached two-car garages. Sidbury Station represents Capital Square’s fifth BTR offering for its Section 1031/Delaware statutory trust (DST) program and the eighth BTR project for its private equity group. The community was acquired on behalf of CS1031 Sidbury Station BFR Housing DST, which seeks to raise equity from accredited investors.

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Affordable HousingDevelopmentGeorgiaMixed-UseMultifamilyRetailSoutheast

City of Refuge Breaks Ground on $15.2M Mixed-Use Center in West Atlanta

by John Nelson

ATLANTA — Nonprofit organization City of Refuge has broken ground on its Transformation Center, a new 38,000-square-foot facility at 1343 Joseph E. Boone Blvd. on Atlanta’s west side. Scheduled to open in fall 2025, the project marks the most significant initiative within the City of Refuge “Breaking Barriers. Building Momentum.” campaign, according to the organization. Situated on the former American Legion lot near the City of Refuge campus, the $15.2 million center will comprise three stories featuring an Entrepreneurship Hub with a classroom, offices and lab; a market or grocery store; medical and mental health clinic; an onsite credit union providing financial services; and 25 multifamily residential units adjacent to the main building. The residences will include apartments in a mix of two- and three-bedroom layouts, with one four-bedroom unit. Thirteen of the units will be reserved for residents earning at or below 30 percent of the area median income (AMI). Invest Atlanta will provide a $2 million BeltLine Tax Allocation District (TAD) grant to fund the residential component. City of Refuge has also received a $3 million federal New Market Tax Credit (NMTC) through Atlanta Emerging Markets and Capital One. The Community Foundation for Greater Atlanta and TogetherATL are …

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Juniper-Everett
DevelopmentMassachusettsMultifamilyNortheast

Greystar Breaks Ground on 416-Unit Multifamily Project in Everett, Massachusetts

by Taylor Williams

EVERETT, MASS. — South Carolina-based developer Greystar has broken ground on a 416-unit multifamily project in the eastern Boston suburb of Everett. The project represents the second phase of a larger development at 1690 Revere Beach Parkway, the first phase of which totals 325 units and is known as Jade. Phase II will be known as Juniper and is slated for a mid-2026 delivery. CUBE3 Architects designed both properties, which between them will include 850 parking spaces, 10,500 square feet of retail space and 22,800 square feet of amenity space.

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DevelopmentMultifamilyNew JerseyNortheastSeniors Housing

DIGroup, JCHC Complete Renovation, Expansion of Northern New Jersey Seniors Housing Property

by Taylor Williams

WHIPPANY, N.J. — DIGroup Architecture and Jewish Community Housing Corp. (JCHC) have completed a renovation and expansion project at Lester Senior Living in Whippany, approximately 30 miles west of Manhattan. The facility provides independent living and assisted living services. The project added about 20,000 square feet of new amenities. The project team also worked to create more interactive spaces for residents by enhancing the café/reading room and refurbishing the dining room. A new theater was added to the second level, and the atrium was also renovated.

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Equestrian-Tucson-AZ
AcquisitionsArizonaMultifamilyWestern

Bridge Investment Group Divests of 288-Unit Equestrian Multifamily Property in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Bridge Investment Group has completed the disposition of Equestrian, a multifamily property in Tucson. Investors Capital Group acquired the asset for an undisclosed price. Built in 2008, Equestrian features 288 apartments with fully equipped kitchens, granite countertops, in-unit washers and dryers, nine-foot ceilings, large walk-in closets and private patio or balconies. Community amenities include a leasing office, business center, resort-style swimming pool, clubhouse, fitness center, covered parking and 70 private detached garages. Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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849-NW-Market-St-Seattle-WA
AcquisitionsDevelopmentMultifamilyWashingtonWestern

Marcus & Millichap Arranges $1.8M Sale of Apartment Development Site in Seattle

by Amy Works

SEATTLE, WASH. — Marcus & Millichap has brokered the sale of a 5,178-square-foot land parcel at 849 NW Market St. in Seattle. A private investor acquired the asset for $1.8 million, or $51,000 per unit. Jake Morse, Ryan Dinus and Sidney Warsinske of Marcus & Millichap’s Seattle office represented the buyer in the deal. The 5,178-square-foot parcel is fully entitled for a 35-unit multifamily development.

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DevelopmentLoansMultifamilyNorth CarolinaSoutheast

JLL Arranges $85M Construction Financing for West End II Multifamily Development in Downtown Raleigh

by John Nelson

RALEIGH, N.C. — JLL has arranged $33.6 million of joint venture equity and $51.4 million in debt financing for the development of West End II, a 252-unit luxury apartment development underway in downtown Raleigh’s West End neighborhood. The equity partner is an investment fund from South America and the lender is an unnamed national life insurance company. Travis Anderson, Warren Johnson, Ryan Pride and Jovi Rodriguez of JLL arranged the equity placement and debt on behalf of the borrower, locally based Kane Realty Corp. Located at 510 W. Cabarrus St., West End II represents the second phase of Kane Realty’s redevelopment of the former Clancy & Theys headquarters building. Phase I, Platform Apartments, is currently in lease-up. Designed by Dwell Design Studio, West End II will feature luxury apartments ranging from one- to three-bedroom layouts, as well as high-end amenities and 4,000 square feet of flexible retail space. The construction timeline for the project was not disclosed.

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