Tuesday, August 11, 2026
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Multifamily

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Affordable HousingCaliforniaDevelopmentMultifamilyWestern

USA Properties Fund, Irvine Co. Break Ground on 338-Unit Affordable Housing Community in Tustin, California

by Amy Works

TUSTIN, CALIF. — USA Properties Fund, in partnership with Irvine Co., has broken ground on Terracina at Tustin Legacy, a 338-unit affordable housing community located southeast of Anaheim in Tustin. The community sits within a 1,600-acre master-planned development that is a redevelopment of a former Marine Corps Air Station. Terracina at Tustin Legacy will feature two four-level buildings at 2265 Airship Ave. and 16055 Compass Ave., each featuring one-, two- and three-bedroom apartments, as well as a clubhouse, pool and parking garage. Completion is slated for the second quarter of 2029.

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ArizonaDevelopmentMultifamilyWestern

Garrett Cos. Completes 248-Unit Multifamily Project in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Garrett Cos. has completed construction of Emblem Mesa, a 248-unit multifamily project located at 1340 S. 48th St. in Mesa’s East Valley submarket. Situated on 14.3 acres, the garden-style development features 13 two- and three-story residential buildings with detached garages and covered parking distributed throughout the site. Designed by Ware Malcomb, the property’s one-, two- and three-bedroom apartments range between 793 square feet and 1,359 square feet with open-concept layouts, private outdoor spaces and kitchens with stainless steel appliances, quartz countertops, wood-style flooring and oversized closets. Community amenities include a resort-style pool, fitness center and a clubhouse.

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17611-W-16th-Ave-Golden-CO
AcquisitionsColoradoMultifamilyWestern

Monarch Investment Sells 153-Unit Fox Hill Apartments in Golden, Colorado

by Amy Works

GOLDEN, COLO. — Monarch Investment & Management Group has sold Fox Hill Apartments, a 153-unit garden-style multifamily community located west of Denver in Golden. Sierra Parkway Communities acquired the asset for $32 million. Jordan Robbins, Wick Kirby, Alex Possick and Seth Gallman of JLL Capital Markets represented the seller, which had owned the asset for nearly 30 years, in the deal. Located at 17611 W. 16th Ave., Fox Hill Apartments was 95 percent occupied at the time of sale. Built in 1972, the property offers a value-add opportunity with the ability to renovate 100 percent of the unit interiors.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges Sale of 336-Unit Multifamily Community in Burnsville, Minnesota

by Kristin Harlow

BURNSVILLE, MINN. — JLL Capital Markets has arranged the sale of Twelve 501 Apartments, a 336-unit multifamily community in the Twin Cities suburb of Burnsville. Built in 1986 and extensively renovated beginning in 2017, the property features large layouts and a variety of amenities. The four-story asset is situated on 14.6 acres overlooking Birnamwood Golf Course. Josh Talberg, Joseph Peris and Eli Smith of JLL represented the seller, FPA Multifamily, and procured the buyer, Osso Capital. The deal marks Osso’s first investment in Minnesota.

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DevelopmentMultifamilyNew JerseyNortheast

Partnership Begins Leasing 477-Unit Apartment Community in Jersey City

by Taylor Williams

JERSEY CITY, N.J. —  A partnership between LanTree Developments, Altree Developments Inc., Lanterra Developments Inc. and Westdale Properties, has begun leasing West Side Square, a 477-unit apartment community in Jersey City. West Side Square houses 203 studios, 232 one-bedroom units, 29 two-bedroom apartments and 10 three-bedroom residences, as well as 9,841 square feet of retail space. Residences are furnished with vinyl plank flooring, quartz countertops, stainless steel appliances, modern cabinetry, subway tile backsplashes, in-unit full-size washers and dryers, and walk-in closets. Select units offer private terraces. Amenities include an outdoor deck with a pool and grilling stations, fitness center, coworking space, a community room and a dog run. Bravo Property Trust financed construction of the project, which began in late 2023.

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LoansMultifamilyNew YorkNortheast

Silver Arch Capital Provides $5.6M in Financing for Long Island Apartment Building

by Taylor Williams

HUNTINGTON STATION, N.Y. — Silver Arch Capital Partners, a New Jersey-based private lender, has provided $5.6 million in financing for a 16-unit apartment building in Huntington Station, located on Long Island. The building, the address of which was not disclosed, also includes two ground-floor retail spaces. The borrower is an entity doing business as BGNYAVE LLC.

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Market ReportsMultifamilyNorth CarolinaSoutheastSoutheast Market Reports

Charlotte Multifamily: The Demand Story Is Finally Being Reflected in Rent Growth

by John Nelson

If you’ve been watching the Charlotte multifamily market for the past 24 months, you’ve probably felt a little whiplash. We delivered a historic wave of new supply, somewhere north of 32,500 units across 2024 and 2025 combined, and a lot of the headlines focused on the same thing: concessions, occupancy pressure and softening rents.  Fair. That was the reality on the ground for most operators. But if you look closely at what’s happening right now, a different story is starting to take shape, and it’s one we think may not be getting enough attention. The trend our team is watching most closely heading deeper into 2026: absorption is holding up remarkably well against an elevated supply picture. In fact, we’re starting to see positive rent growth re-emerge on select deals, particularly in well-located submarkets where the construction pipeline has tapered.  While this isn’t a market-wide victory lap yet, the green shoots are real, and they’re showing up exactly where you’d expect them to. The data is telling us that Charlotte multifamily rents rose modestly in the first quarter of 2026 as construction starts slowed, with completion totals in 2026 expected to trail levels recorded in 2025 by 26 percent. That’s …

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AcquisitionsMultifamilyTexas

Franklin Street Negotiates Sale of 138-Unit Multifamily Property in Southwest Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Tampa-based brokerage firm Franklin Street has negotiated the sale of The Reserve on Willow Lake, a 138-unit multifamily property in southwest Fort Worth. Built in 1996, the property offers two- and three-bedroom apartments, as well as townhomes. Amenities include a pool, fitness center and a business center. Tyler Bynum and Jack Williams of Franklin Street represented the seller, California-based investment firm The Paskin Group, in the transaction. The buyer was Dallas-based private equity firm Willowood Group.

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DevelopmentMultifamilyStudent HousingTexas

Adolfson & Peterson Completes Renovation of Residence Hall at University of Texas San Antonio

by Taylor Williams

SAN ANTONIO — General contractor Adolfson & Peterson Construction (AP) has completed the renovation of Chisholm Hall, located on the University of Texas at San Antonio (UTSA) campus. The number of beds was not disclosed, but 267 rooms were impacted. The 120,860-square-foot residence hall features two fully furnished layout options, including double- and triple-occupancy rooms. Designed by Chesney Morales Architects, the renovation featured modernized building systems, upgraded resident bathroom vanity areas, newly installed acoustical ceilings and lighting and new mechanical unit ventilators and hallway ductwork.

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AcquisitionsAffordable HousingDevelopmentMultifamilyNew YorkNortheast

Tredway Buys Brooklyn Affordable Housing Property for $41.5M, Plans Renovations

by Taylor Williams

NEW YORRK CITY — Local owner-operator Tredway has purchased Restore Housing, a 138-unit affordable housing property in Brooklyn’s Bedford-Stuyvesant neighborhood, for $41.5 million with plans to implement renovations. Units at the property are reserved for households earning 60 percent or less of the area median income. Capital improvements, which will serve to preserve the property’s affordability status, will cover units’ kitchens, bathrooms, appliances and flooring, as well as the building’s common spaces. Merchants Capital provided financing for both the purchase and renovations.

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