Multifamily

JCMLiving Begins Leasing 295-Unit Apartment Complex in Wood-Ridge, New Jersey

by Taylor Williams April 10, 2025

WOOD-RIDGE, N.J. — JCMLiving has begun leasing Rosera Wesmont, a 295-unit apartment complex located in the Northern New Jersey community of Wood-Ridge. Rosera Wesmont offers studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops, smart lock entry mechanisms and individual washers and dryers. Amenities include a pool with a sundeck and landscaped courtyard; a multi-level gym with a yoga studio, sauna and bar; coworking spaces, private offices and meeting rooms; and a sports simulator. Minno & Wasko Architects and Planners designed the project. Rents start at roughly $2,300 per month for a studio apartment.

April 10, 2025

Acquisitions Georgia Multifamily Southeast

Matthews Brokers $21.6M Sale of Woodland Commons Apartments in Newnan, Georgia

by John Nelson April 10, 2025

NEWNAN, GA. — Matthews Real Estate Investment Services has brokered the $21.6 million sale of Woodland Commons, a 114-unit apartment community located at 22 Forest Circle in Newnan, about 36 miles southwest of Atlanta. Marietta, Ga.-based Arcan Capital purchased the property from TriWest Multifamily in a 1031 exchange and assumed an undisclosed amount of existing debt. The El Segundo, Calif.-based seller had owned the community, which was originally built in 2002, since 2022. Austin Graham of Matthews brokered the transaction. Woodland Commons features one-, two- and three-bedroom apartments ranging in size from 878 to 1,329 square feet, according to Apartments.com. Community amenities include a swimming pool, laundry facilities, a business center, fitness center, playground and a car wash area.

April 10, 2025

Acquisitions Multifamily New Jersey Northeast Seniors Housing

Hudson Atlantic Negotiates Sale of 284-Unit Seniors Housing Complex in Barrington, New Jersey

by Taylor Williams April 10, 2025

BARRINGTON, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the sale of Barrington Mews, a 284-unit seniors housing complex located outside of Philadelphia in Southern New Jersey. Built in 1994 as affordable seniors housing, the elevator-served, age-restricted property offers one- and two-bedroom units and amenities such as community rooms, onsite laundry facilities and grilling and picnic areas. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed. The new ownership plans to transition the property to market-rate housing.

April 10, 2025

California Loans Multifamily Western

G.H. Palmer Associates Receives $168M Refinancing for Park Sierra Apartments in Santa Clarita, California

by Amy Works April 10, 2025

SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac. Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a fitness center, picnic and play areas.

April 10, 2025

Acquisitions Midwest Multifamily Wisconsin

CBRE Arranges Sale of Two Multifamily Properties in Wisconsin for $10.1M

by Kristin Harlow April 10, 2025

MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located at 5010 Biscayne Ave. Built in 1960, the asset features 80 units in a variety of one-, two- and three-bedroom floor plans.

April 10, 2025

Development Multifamily Texas

Koontz Corp. to Develop 305-Unit Apartment Community in North San Antonio

by Taylor Williams April 9, 2025

SAN ANTONIO — Locally based developer Koontz Corp. will develop The Elle Apartment Homes, a 305-unit multifamily community in San Antonio. The site spans 9.6 acres on the city’s north side, and the building will rise four stories and house one- and two-bedroom units. Residences will be furnished with kitchen islands, stainless steel appliances, custom cabinetry, quartz countertops, walk-in closets, full-size washers and dryers and private patios. Amenities will include a pool, fitness center, entertainment room, business center, coffee bar, grilling areas and a dog park. Project partners include Garcia + Associates (architect), Pape-Dawson (engineer), Casey Roy Design (interior design) and IBC Bank (construction lender). Construction is scheduled to begin in the third quarter and to be complete in mid-2027.

April 9, 2025

Affordable Housing Development Multifamily Texas

Housing Trust Group Breaks Ground on $33.8M Affordable Housing Project in West Houston

by Taylor Williams April 9, 2025

HOUSTON — Miami-based developer Housing Trust Group has broken ground on The Rushmore, a $33.8 million affordable housing project in the Energy Corridor area of West Houston. The property will house 101 units, 85 of which will be reserved for households earning at or less than 30, 50 and 60 percent of the area median income. The remaining 16 units will be priced at market rates. Residences will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, community clubroom, workroom, fitness center, game room and a designated dog walking path. Completion is slated for spring 2026.

April 9, 2025

Development Maryland Multifamily Southeast

High Street, SREP Break Ground on 300-Unit Apartment Community in Frederick, Maryland

by John Nelson April 9, 2025

FREDERICK, MD. — A joint venture between High Street Residential and SCOA Real Estate Partners (SREP) has broken ground on The Terrace, a 300-unit apartment community located at 10 W. College Terrace in Frederick, about 44 miles northwest of Washington, D.C. The co-developers plan to deliver the midrise project by December 2027. The Terrace will be situated on 8.3 acres and offer views of the nearby Catoctin Mountains via its indoor/outdoor sky lounge. Other amenities will include a resort-style swimming pool, gaming area, EV charging stations and a dog park. The property will feature a mix of one-, two- and three-bedroom apartments ranging in size from 725 to 1,474 square feet. The design-build team includes architect of record Dwell Design Studio and general contractor Morgan-Keller Construction.

April 9, 2025

Acquisitions Florida Loans Multifamily Southeast Virginia

Gantry Secures $59.6M in Acquisition Financing for Three Multifamily Communities in Florida, Virginia

by John Nelson April 9, 2025

TALLAHASSEE, FLA. AND NEWPORT NEWS, VA. — Gantry has secured three loans totaling $59.6 million for the acquisition of three apartment communities in Florida and Virginia. The properties, which total 249 units, include Sanctuary Apartments and Serenity Court Apartments in Tallahassee and Jimmy Apartments in Newport News. All three properties were acquired out of receivership and funded for repositioning, improvements and new leasing programs. Mark Reichter and Alec Frook of Gantry’s Kansas City production office arranged the loans through one of the firm’s life company lenders on behalf of the borrower, a private real estate investor. The bridge loans include upfront interest-only terms followed by 30-year amortization schedules and include capital expenditure funds. Gantry will service the loans.

April 9, 2025

Affordable Housing Development Loans Multifamily New York Northeast

TS Communities Receives $166M in Financing for Affordable Housing Complex in Queens

by Taylor Williams April 9, 2025

NEW YORK CITY — TS Communities, a division of local real estate giant Tishman Speyer, has received $166 million in financing for a 244-unit affordable housing complex in Queens and plans to break ground later this month. The 18-story building will be located within the Edgemere Commons development in the borough’s Far Rockaway neighborhood and follows TS Communities’ development of a 237-unit building that is nearing completion. Units will come in studio, one-, two- and three-bedroom floor plans and will be reserved for renters earning between 40 and 80 percent of the area median income. In addition, 73 units will be set aside as supportive housing. The building will also feature a resident community room, an outdoor space with an adjoining recreation room, a skydeck, onsite parking and laundry facilities, supportive services offices and street-level retail space. Aufgang Architects is designing the project, which is being developed in partnership with the City of New York, as well as with various state housing agencies. A tentative completion date was not announced.

April 9, 2025

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