Multifamily

IPA Capital Markets Arranges $123M in Financing for Multifamily Property in Burlingame, California

by Amy Works June 8, 2026

BURLINGAME, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $123 million in debt financing for Anson, a multifamily property in Burlingame. Situated less than four miles from San Francisco International Airport, the property features 268 one-, two- and three-bedroom floor plans with in-unit laundry facilities, stainless steel appliances and private patios or balconies. Community amenities include two courtyards with barbecue grills and hammocks, a fitness center, clubhouse, resort-style pool, pet spa and a coworking lounge. The loan features a interest rate of 5.09 percent, a DSCR of 1.10x and interest-only payments for the term. The financing structure also included $26 million in preferred equity from Tokyu Land US Corp. Brian Eisendrath, Cameron Chalfant, Anita Paryani-Rice and Jesse Zarouk of IPA Capital Markets in Los Angeles secured a five-year loan on behalf of a national multifamily owner, operator and investment firm.

June 8, 2026

Acquisitions Affordable Housing California Multifamily Western

HVPG Acquires Affordable Housing Community in Elk Grove, California, for $83.6M

by Amy Works June 8, 2026

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, located south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 percent of units are further supported by tenant-based vouchers, and income restrictions span from 30 to 80 percent of area median income. The acquisition was financed through three Freddie Mac loans originated by Greystone, with tax credit equity provided by Red Stone Equity Partners, and public finance support facilitated by the California Municipal Finance Authority and the City of Elk Grove. Programming, including after-school services and adult education, will be provided by nonprofit partner Pacific Housing.

June 8, 2026

Acquisitions California Multifamily Western

Marcus & Millichap Brokers $47M Sale of Multifamily Property in Los Angeles

by Amy Works June 8, 2026

LOS ANGELES — Marcus & Millichap has brokered the sale of The Versailles Apartments, a five-story multifamily property located at 8811 Burton Way in Los Angeles. The asset traded for $47 million, or $602,564 per unit. Tony Azzi and Rabbie Banafsheha of the Azzi Group of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed, in the transaction. Constructed in 1989, The Versailles Apartments features 78 residences, a rooftop pool and deck, a fitness center, laundry facilities on every floor and two levels of subterranean parking. Apartments include hardwood floors, granite countertops, stainless steel appliances and dishwashers, while select units have washers and dryers.

June 8, 2026

Development Multifamily Texas

Rosewood Property Co. Begins Leasing 338-Unit Apartment Community in Plano

by Taylor Williams June 5, 2026

PLANO, TEXAS — Dallas-based Rosewood Property Co. has begun leasing The Buckley, a 338-unit apartment community in Plano. The Buckley is the sister property of The Ludlow, both of which are located within the 156-acre Heritage Creekside master-planned development. The Buckley feature studio, one-, two- and three-bedroom apartments and amenities such as a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management was the equity partner for the project, and Broadway Bank provided construction financing. Provident General Contractors constructed the property, which was designed by Hensley, Lamkin, Rachel Inc. Rents start at $1,700 per month for a studio apartment.

June 5, 2026

Acquisitions Multifamily Seniors Housing Texas

Berkadia Brokers Sale of 186-Unit Seniors Housing Property Near Houston

by Taylor Williams June 5, 2026

LEAGUE CITY, TEXAS — Berkadia has brokered the sale of Grand Living at Tuscan Lakes, a 186-unit seniors housing property in League City, about 30 miles southeast of Houston. Opened in 2023, the property offers independent living, assisted living and memory care residences. Amenities include a pool, theater, spa, fitness center, library and a lounge. Town Land and Arcole Partners acquired the property from Bow River Capital and Ryan Cos. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia brokered the deal.

June 5, 2026

Development Multifamily New Jersey Northeast Uncategorized

Panepinto Properties Begins Leasing 53-Story Apartment Tower in Jersey City

by Taylor Williams June 5, 2026

JERSEY CITY, N.J. — Locally based developer Panepinto Properties has begun leasing 505 Summit, a 53-story apartment tower in the Journal Square area of Jersey City. The building offers 605 units in studio, one-, two- and three-bedroom floor plans. The property also features 4,000 square feet of street-level retail space, a landscaped public plaza, parking garage and 304 bicycle storage spaces. Residential amenities include an outdoor terrace with a pool, grilling stations, a resident lounge, coworking spaces, sports simulator and a fitness center. Pacific Life financed construction of the project, which began in the third quarter of 2023 and topped out last summer. Rents start at $3,350 per month for a studio apartment.

June 5, 2026

Acquisitions Affordable Housing Multifamily New York Northeast

Jonathan Rose Cos. Buys Upper Manhattan Affordable Housing Building for $53M

by Taylor Williams June 5, 2026

NEW YORK CITY — Local investment firm Jonathan Rose Cos. has purchased The Caroline Apartments, a 126-unit affordable housing building in the Inwood section of Upper Manhattan, for $53 million. The building was constructed in 1980 and last renovated in 2008. Income restrictions were not disclosed. The new ownership plans to invest nearly $20 million in capital improvements to the property, including upgrades to building systems and unit interiors, enhancements to the community center and energy-efficiency upgrades. Jonathan Rose Cos. also plans to bring in a full-time resident services coordinator. Th seller was Related Cos.

June 5, 2026

Affordable Housing Development Michigan Midwest Multifamily

Detroit’s Corktown Neighborhood to Receive 188 New Mixed-Income Units Representing $84M Investment

by Kristin Harlow June 5, 2026

DETROIT — Detroit’s historic Corktown neighborhood is set to receive three new mixed-income housing developments: Bagley Townhomes & Flats, West of 10th Apartments and Trumbull Apartments. Together, the three projects will bring 188 new residential units, including more than 150 affordable homes supported through the city by a portion of Detroit’s $35 million federal Choice Neighborhoods Implementation (CNI) grant. Fifth Third Bank (formerly Comerica Bank) and Citizens Bank are also providing funding for the developments, which are part of the ongoing redevelopment of the former Clement Kern Gardens site. American Community Developers Inc. is leading development of all three projects, which collectively represent nearly $84 million in total investment. Located just west of downtown Detroit, Corktown has long served as a gateway community for generations of immigrants and working-class families. Originally settled by Irish immigrants in the mid-1800s, the neighborhood became known for its close-knit residential blocks and historic row houses. In recent years, Corktown has experienced significant redevelopment activity, driven by public and private investment surrounding Michigan Central, Roosevelt Park and the broader southwest Detroit corridor. The City of Detroit was awarded a $35 million CNI grant in May 2021 by the U.S. Department of Housing and Urban Development. …

June 5, 2026

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of 128-Unit Rock Run Residences in Joliet, Illinois

by Kristin Harlow June 5, 2026

JOLIET, ILL. — Marcus & Millichap has brokered the sale of Rock Run Residences, a 128-unit multifamily property in Joliet. Built in 2002 and fully renovated between 2021 and 2024, the property consists of seven buildings totaling 81,960 rentable square feet. Amenities include a clubhouse, fitness center, community kitchen, pool, sundeck, picnic area and sand volleyball court. The community features convenient access to I-80 and I-55 as well as Rock Run Crossings, a retail and entertainment destination. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors.

June 5, 2026

Acquisitions Loans Multifamily Southeast Tennessee

Red Oak Capital Provides $7.7M Acquisition Loan for Multifamily Community in Memphis

by John Nelson June 4, 2026

MEMPHIS, TENN. — Red Oak Capital Holdings has provided a $7.7 million loan for the acquisition and repositioning of Valley Forge Apartments, a 229-unit multifamily community located at 176 Hillview Ave. in Memphis. Valley Forge features 26 garden-style buildings comprising 171 two-bedroom units, 57 three-bedroom apartments and one one-bedroom unit across 15 acres. The property was 95.6 percent occupied at the time of financing. The borrower, I Real Estate and Allstate Property Management, plans to carry out repairs, capital improvements and security upgrades on the property. Red Oak Capital’s Stratos Athanassiades, Thomas Gorski and James Myatt originated the loan on behalf of the borrower. The loan carries an initial 18-month term and a loan-to-stabilized value of 71.9 percent.

June 4, 2026

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