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Multifamily

The-Arbella-at-Bramble-Hill-Worcester
LoansMassachusettsMultifamilyNortheast

JLL Arranges $39M Loan for Refinancing of Active Adult Complex in Worcester, Massachusetts

by Taylor Williams

WORCESTER, MASS. — JLL has arranged a $39 million bridge loan for the refinancing of The Arbella at Bramble Hill, a 123-unit active adult complex in the central Massachusetts city of Worcester. The newly built, 17.3-acre complex offers 57 one-bedroom and 66 two-bedroom apartments with an average size of 1,049 square feet that are housed across three buildings, as well as an 8,500-square-foot clubhouse. Amenities include a fitness center, wellness spa and salon, indoor pool, bistro, great room, multimedia theater, golf simulator and outdoor grilling and dining stations. Residents also have access to onsite pickleball and bocce courts, a community garden and a dog park. Henry Schaffer and Madeline Joyce of JLL arranged the loan through Eastern Bank on behalf of the owner, The United Group of Cos.

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Vantage-Apts-Loveland-CO
AcquisitionsColoradoMultifamilyWestern

Vantage Communities Sells 288-Unit Multifamily Community in Loveland, Colorado

by Amy Works

LOVELAND, COLO. — Vantage Communities has sold Vantage at Loveland, an apartment community located just south of Fort Collins. The buyer was JB Matteson, and the sales price was undisclosed. Greg Parker and Jason Hornick of Marcus & Millichap represented the seller and procured the buyer in the deal. Completed in 2024, Vantage at Loveland features 288 apartments, a resort-style pool, clubhouse, fitness center and an outdoor recreation areas. Apartments offer washers and dryers, walk-in closets, kitchen islands and yards.

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Vista-Ridge-Apts-Issaquah-WA
AcquisitionsMultifamilyWashingtonWestern

IPA Arranges $37M Sale of Vista Ridge Apartments in Issaquah, Washington

by Amy Works

ISSAQUAH, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $37 million sale of Vista Ridge Apartments, a multifamily property in Issaquah, located east of Seattle. The sales price equates to $406,593 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the buyer and seller, both of which requested anonymity, in the deal. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Ray Allen, also with IPA, arranged acquisition financing for the buyer. Vista Ridge Apartments features 91 two – and three-bedroom units averaging 1,106 square feet, as well as an outdoor heated pool, indoor spa and sauna, fitness center and a fenced dog park.

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CaliforniaDevelopmentMultifamilyWestern

Rockpoint, Holland Partner Group to Develop 311-Unit Multifamily Project in San Jose, California

by Amy Works

SAN JOSE, CALIF. — Boston-based Rockpoint and Hollard Partner Group have entered into a joint venture to develop Stevens Creek, a multifamily property that will be located at 2896 Stevens Creek Blvd. in West San Jose. Financial terms of the transaction were not disclosed. Scheduled for completion in 2029, Stevens Creek will feature 311 apartments and 6,000 square feet of ground-floor retail space. Units will offer stainless steel appliances, solid-surface countertops, in-unit washers and dryers and luxury vinyl tile flooring. Community amenities will include a resort-style pool, landscaped courtyard, resident lounge, fitness center and a coworking lounge.

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DevelopmentFloridaLoansMultifamilySoutheastStudent Housing

KeyBank Provides $22M Acquisition Loan for Tampa Student Housing Community, Borrower Plans Multifamily Conversion

by Abby Cox

TAMPA, FLA. — KeyBank Real Estate Capital (KBREC) has provided a $22 million loan for the acquisition of U Lake Apartments, a 300-unit student housing community located near the University of South Florida in Tampa. Alan Isenstadt and Jack Hoffman of KBREC originated the loan on behalf of the borrower, Sharp Key Capital Fund VII, which plans to redevelop the property into a market-rate multifamily complex. Planned upgrades include the installation of property-wide HVAC systems, roofing improvements, enhanced landscaping and amenity renovations. Situated on nearly 22 acres at 14200 Bruce B. Downs Blvd. in Tampa’s University submarket, U Lake comprises 18 buildings with one- and two-bedroom floorplans, according to Apartments.com. Amenities at the property include three swimming pools, a fitness center, tennis and volleyball courts, a dog park, outdoor gathering spaces and clubhouse facilities. 

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Milo
AcquisitionsMultifamilyNorth CarolinaSoutheast

JLL Arranges Sale of 252-Unit Multifamily Community in Raleigh

by Abby Cox

RALEIGH, N.C. — JLL Capital Markets has arranged the sale of Milo, a 252-unit apartment community located at 821 Hanbury Way in Raleigh. John Mikels, John Gavigan, Chase Monroe, William Martin and McCullough Campbell of JLL represented the seller, Charleston-based Greystar, in the transaction. The buyer was an entity doing business as Milo Apartments LLC. The sales price was not disclosed. Completed in 2024, Milo comprises eight three-story residential buildings housing a mix of one-, two- and three-bedroom floorplans. Amenities at the garden-style complex include a swimming pool and sundeck, poolside cabanas, yoga lawn, coworking hub, fitness center, cardio and cycle studio, outdoor grill/kitchen, dog park, community garden, resident lounge and a clubhouse.

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AcquisitionsIllinoisMidwestMultifamily

JVM Realty Buys 280-Unit Apartment Community in Oswego, Illinois

by Matthew Auchincloss

OSWEGO, ILL. — JVM Realty Corp. has purchased Springs at Oswego, a 280-unit apartment community located 48 miles west of Chicago, and rebranded the community as Trillium at Oswego. Continental Properties sold the property, and Cushman & Wakefield brokered the deal. The purchase price was not disclosed. Located at 801 Fifth St., the gated community was completed in 2019 and features townhome-style units across two-story residential buildings. Residences come in studio, one-, two- and three-bedroom floor plans. Amenities include a heated pool, 24-hour fitness center, a clubhouse with lounge and entertainment areas, outdoor grilling stations, fire pit, car wash, two dog parks and gated access.

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AcquisitionsMidwestMultifamilyNebraskaSeniors Housing

Agemark Acquires, Rebrands Seniors Housing Community in Omaha

by Matthew Auchincloss

OMAHA, NEB. — Agemark Senior Living has acquired Esprit Whispering Ridge, an assisted living and memory care community located in Omaha.  Agemark has rebranded the property as The Bellflower at Whispering Ridge. Along with its undisclosed investment partner, Agemark plans to invest approximately $1.3 million in capital improvements at the community. Moving forward, The Bellflower will also offer independent living and “assisted living plus” units. This acquisition brings Agemark’s Omaha portfolio to five communities totaling more than 450 units. 

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IllinoisLeasing ActivityMidwestMultifamily

Cross Street, Mavrek Begin Leasing 46-Unit Apartment Building in Chicago 

by Matthew Auchincloss

CHICAGO — Cross Street and Mavrek have begun leasing Belmora, a 46-unit apartment building located at 919 W. Belmont Ave. in Chicago’s Lakeview neighborhood. Designed by Eckenhoff Saunders, the building includes 5,700 square feet of ground-floor retail space that is anchored by Studio Three, a locally based fitness company. A second building at 917 W. Belmont Ave. will be completed later this year and will include an additional 46 apartments and 5,300 square feet of ground-floor retail space that will be anchored by Foxtrot Café & Market. Units come in studio through two-bedroom floor plans, with monthly asking rents starting at $2,095. Amenities include a fitness center, coworking space, package room, bicycle storage room with additional resident lockers and a furnished lobby lounge with a fireplace.

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DevelopmentLoansMultifamilySoutheastVirginia

Bonaventure Begins Construction on $93.3M Apartment Development in Metro Richmond

by John Nelson

CHESTER, VA. — Bonaventure has begun construction on Attain at Swift Creek, a $93.3 million multifamily development located at 6805 Greenyard Road in Chester, a southern suburb of Richmond in Chesterfield County. The Alexandria, Va.-based developer obtained a $79.9 million HUD 221(d)(4) construction loan for the project. Walker & Dunlop originated the 40-year, fixed-rate loan on behalf of Bonaventure, which will finance the balance of the development costs via its balance sheet while searching for a long-term equity partner. Situated on a 31-acre site adjacent to a Kroger Marketplace-anchored shopping center, Attain at Swift Creek will feature a mix of one-, two- and three-bedroom apartments averaging 1,058 square feet in size. The project team includes KBS Inc. (general contractor), RBA Architects and Timmons Group (civil engineer). Bonaventure will name a property manager for the community at a later date.

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