Multifamily

Walker & Dunlop Provides $75M Refinancing of 23-Story Multifamily Tower in Metro Tampa

by Abby Cox October 5, 2026

ST. PETERSBURG, FLA. — Walker & Dunlop has provided a $75 million Freddie Mac loan to refinance EVO St. Petersburg, a 220-unit residential complex located at 334 2nd Ave. S. in St. Petersburg. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Sean Reimer, Dustin Stolly, Michael Stepniewski, Michael Ianno and Cody Ela of Walker & Dunlop arranged the fixed-rate financing on behalf of the borrower, FrontRange Capital Partners. Delivered in 2023, the 23-story tower features studio, one-, two- and three-bedroom floorplans. The community provides roughly 23,000 square feet of indoor-outdoor amenities including a swimming pool, fitness center, business center, clubhouse, a pet play area and 13,000 square feet of ground-floor retail.

October 5, 2026

Development Louisiana Multifamily Southeast

RNGD Begins Vertical Construction on 251-Unit Multifamily Development in Elmwood, Louisiana

by Abby Cox October 5, 2026

ELMWOOD, LA. — RNGD has begun vertical construction on The Francis, a 251-unit multifamily development located in Elmwood, about nine miles west of New Orleans. The project will replace a former Kmart store at Elmwood Center, a 1 million-square-foot open-air shopping center. Construction is slated for completion in spring 2028. Hancock Whitney Bank is providing financing for the project. The Jefferson Parish Economic Development Commission (JEDCO) collaborated with the Jefferson Parish Council and the development team on economic incentives, including a Payment In Lieu of Taxes (PILOT) structure. LRK is serving as architect, Parallel is leading interior design and RNGD is the general contractor. The Francis will feature one- and two-bedroom apartments with open-concept layouts and modern finishes. Amenities will include a central courtyard with a resort-style swimming pool and landscaped green spaces, a fitness center, coworking and creative spaces, resident library, dog walk and additional community gathering areas. The development team estimates the project will support more than 200 construction and permanent jobs. In addition to the residential building, Lauricella Land Co. is also planning a 70,000-square-foot expansion of Elmwood Center’s retail and dining options adjacent to The Francis.

October 5, 2026

Acquisitions California Multifamily Western

Berkadia Arranges $6.8M Sale of Apartment Building in Los Angeles’ Westchester Neighborhood

by Amy Works October 5, 2026

LOS ANGELES — Berkadia has arranged the $6.8 million sale of Altezza, a 16-unit apartment building in the Westchester neighborhood of Los Angeles. Steffan Braunlich of Berkadia El Segundo led the transaction on behalf of the seller, Revere Investments of Rolling Hills Estates, California. The buyer was Edud Investments, based out of Corona, California. The deal closed on Sept. 21. Located at 6925 Kittyhawk Ave., the property was built in 1993 and features 16 two-bedroom, two-bathroom apartments, including upper-level, two-story loft layouts. The property also includes in-unit stackable washers and dryers, central heating and air conditioning, controlled access and 32 subterranean parking spaces.

October 5, 2026

Affordable Housing Loans Multifamily New York Northeast

Walker & Dunlop Arranges $170.5M Loan for Refinancing of Harlem Apartment Community

by Taylor Williams October 5, 2026

NEW YORK CITY — Walker & Dunlop has arranged a $170.5 million permanent loan for the refinancing of Lenox Terrace, a 1,696-unit apartment community in Harlem. Opened in 1958, Lenox Terrace primarily offers rent-restricted residences that are housed across six 16-story buildings. Amenities include landscaped green spaces, a dog park and a playground. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno and Cody Ela of Walker & Dunlop arranged the loan through Chase Commercial Bank on behalf of the owner, The Olnick Organization.

October 5, 2026

Delaware Development Multifamily Northeast Seniors Housing

Joint Venture Breaks Ground on 144-Unit Seniors Housing Project in Coastal Delaware

by Taylor Williams October 5, 2026

REHOBOTH BEACH, DEL. — A joint venture between Michigan-based development and investment firm REDICO and operator Ciel Senior Living has broken ground on a 144-unit project in the coastal Delaware community of Rehoboth Beach. Ciel of Rehoboth will offer independent living, assisted living and memory care services in addition to resort-style amenities, social programming and personalized wellness and care services. Completion is slated for 2028.

October 5, 2026

Development Midwest Multifamily Wisconsin

Galway Cos. Underway on 357-Unit Luxury Apartment Complex in Monona, Wisconsin

by Kristin Harlow October 5, 2026

MONONA, WIS. — Galway Cos. is under construction on The Greenline, a 357-unit luxury apartment community with 16,000 square feet of ground-floor commercial space in Monona, a suburb of Madison. The broader vision for the development includes a central park with a gathering place for farmers’ markets, food trucks, outdoor concerts, movie nights and community events. The city and the Monona Community Development Authority are partnering on the project. The project team includes McGann Construction Inc., Stevens Construction Corp., RG Huston, JLA Architects, Vierbicher and Dave Jones. Financing partners include Old National Bank, Johnson Financial Group and Bank CMG.

October 5, 2026

Acquisitions Illinois Midwest Multifamily

Becovic Residential Acquires Chicago Apartment Building for $20M

by Kristin Harlow October 5, 2026

CHICAGO — Becovic Residential has acquired an historic property at 5154 N. Clark St. in Chicago for $20 million and has rebranded it as The Quarters at Andersonville. Built in 1923, the asset consists of 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous ownership for more than 40 years. The acquisition marks Becovic’s entry into the Andersonville neighborhood. Becovic plans to preserve the building’s historic character while making improvements to the residential experience. Becovic Management Group Inc. will provide property management services. Essex Realty Group brokered the transaction. Elizaeth Hozian of Associated Bank originated acquisition financing.

October 5, 2026

California Loans Multifamily Seniors Housing Top Stories Western

JLL Arranges $276M Refinancing for Southern California Seniors Housing Portfolio

by Taylor Williams October 5, 2026

NEWPORT BEACH, CALIF. — JLL has arranged two loans totaling $276 million for the refinancing of a two-property seniors housing portfolio in the Newport Beach area of Southern California. The portfolio totals 395 units. The borrower is an affiliate of owner-operator Nexus Development. The first piece of the transaction involves a $140 million loan for Vivante Newport Center, a six-story, luxury community that features 99 independent living, assisted living and memory care units. Vivante Newport Center also offers a theater, bowling alley and a golf simulator, in addition to multiple onsite food-and-beverage options. The second component of the deal features $136 million in agency financing for Vivante Newport Mesa, a 296-unit community that was built in phases between 2013 and 2020. Vivant Newport Mesa comprises two buildings on a 6.8-acre site that also offer independent living, assisted living and memory care services. An undisclosed national bank provided the loan for Vivante Newport Center, and the name of the agency that originated the financing for Vivante Newport Mesa was also not disclosed. Greg Brown and Aaron Rosenzweig of JLL acted as intermediaries on both deals.

October 5, 2026

Development Loans Multifamily Texas

Concord Summit Arranges $50M in Construction Financing for Fort Worth Multifamily Project

by Taylor Williams October 2, 2026

FORT WORTH, TEXAS — Concord Summit Capital, a South Florida-based intermediary, has arranged $50 million in construction financing for Vic Centre Apartments, a 268-unit multifamily project in Fort Worth. Vic Centre will be located on the city’s east side and will consist of nine three-story buildings that will house studio, one- and two-bedroom units. Specifics on the “premium” amenity package were not disclosed. David Larson and Keegan Burger of Concord Summit Capital arranged the financing, which includes both senior and mezzanine debt that was structured with an 80 percent loan-to-value ratio, on behalf of the sponsor, a partnership between Summa Terra Ventures and M13 Construction. The direct lender was not disclosed. Construction is underway and expected to be complete within 24 months.

October 2, 2026

Acquisitions Multifamily Texas

Partnership Acquires 322-Unit Apartment Community in Denton, Texas

by Taylor Williams October 2, 2026

DENTON, TEXAS — A partnership between Connecticut-based Spirit Investment Partners and Strategic Value Partners, which also operates out of Connecticut, has purchased Resia Rayzor Ranch, a 322-unit apartment community in the North Texas city of Denton. Built in 2024, Resia Rayzor Ranch consists of two buildings on a 3.1-acre site. Units come in one-, two- and three-bedroom floor plans and have an average size of 792 square feet. Amenities include a pool, fitness center, pickleball and basketball courts, outdoor grilling and dining stations, coworking space and package lockers. Miami-based Resia previously owned the property, which was acquired as part of a two-property portfolio deal that included a 573-unit community in Houston. Jamie Leachman and Carter Wroblewski of JLL arranged acquisition financing for the deal through Oaktree Capital Management.

October 2, 2026

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