NEW BRUNSWICK, N.J. — The Community Builders (TCB) has completed Stirlingside Residences, a 53-unit affordable housing building in New Brunswick, located in Central New Jersey. Specific income restrictions were not announced, but the building includes six units for families and individuals who have previously experienced homelessness. A ribbon-cutting ceremony took place in late May.
MAUSTON, WIS. — CBRE has negotiated the $3.9 million sale of Riverwood Apartments in Mauston, about 70 miles northwest of Madison. The 32-unit multifamily community was fully leased at the time of sale. The property consists of four buildings on 3.2 acres along the Lemonweir River. Built in 1994, Riverwood Apartments offers units ranging from 575 to 1,000 square feet. CBRE’s Sean Beuche, Max Colby, Matson Holbrook and Gretchen Richards represented the seller, Riverwood Apartments LLC. The buyer was Tripp & Associates.
LOS ANGELES — Walker & Dunlop has provided a $33.2 million Freddie Mac acquisition loan for Palm Court Apartments in Los Angeles’ Miracle Mile neighborhood. Bryan Frazier, Blake Hockenbury, Steven Paskover, Sheri Blackburn and Dillon Hoffman of Walker & Dunlop Capital Markets Real Estate Financing secured the fixed-rate, full-term interest-only loan. Located at 740 S. Burnside Ave., Palm Court Apartments features 132 apartments within a four-story building. The property offers convenient access to downtown Los Angeles, Beverly Hills and the Wilshire Corridor.
PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in construction financing for 2 South Main, a 322-unit multifamily project in Port Chester, located along the New York-Connecticut border. Information on specific floor plans and amenities was not disclosed, but the 12-story building will include 330 parking spaces and 5,000 square feet of retail space. Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin and Dawson Jessee of Walker & Dunlop secured the equity component of the financing via an investment from Related Fund Management. Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop arranged construction debt for the project through Arbor Realty Trust. The sponsor is a joint venture between Hyperion Group, Winter Properties and AIP. LRC Construction is the general contractor for 2 South Main, an expected completion date of which was not announced.
TAUNTON, MASS. — Greystar has broken ground on Whittenton Mills, a 390-unit multifamily project in Taunton, located south of Boston. The project, which will feature modular construction, is a redevelopment of a former 19th-century mill complex that has long been vacant and was demolished earlier this year. The property will consist of 10 buildings that will house one-, two- and three-bedroom units. Amenities will include a clubhouse, pool, dog park, putting green, bocce ball court and a playground, as well as 1.5 acres of public green space. The first units are expected to be available for occupancy by next spring.
VANCOUVER, WASH. — JLL has provided a $42 million Fannie Mae loan for the refinancing of Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team on the transaction.
PEORIA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Parc Roundtree Ranch, a 275-unit multifamily property located between Loop 101 and U.S. Route 60/Grand Avenue in Peoria. Terms of the transaction were not released. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer, both of which requested anonymity, in the deal. Completed in 2021, Parc Roundtree Ranch features apartments with nine-foot ceilings, private patios or balconies with exterior storage, walk-in closets and full-size washers and dryers. Situated on 10 acres, the community includes a resort-style pool, spa, fitness center, pet spa and outdoor grilling areas.
SAN DIEGO — PMB and Pillar Properties will develop a 224-unit senior living community at San Diego State University. Dubbed SDSU Mission Valley, the project will total 295,000 square feet across seven stories and will feature independent and assisted living units, as well as 26 memory care residences. Amenities at the property will include a restaurant and bistro, community room, fitness center, rooftop deck, pool and outdoor courtyard. Urbal Architecture is serving as the architect. Construction is scheduled to begin at the end of 2027, with completion expected in 2030. Merrill Gardens will manage the community. The project is subject to approval by the California State University governing Board of Trustees. Once open, the university plans to partner with Merrill Gardens to provide students with internships, employment and community engagement opportunities. Residents will have access to campus programming and learning opportunities, and the community will collaborate with SDSU’s Center for Excellence in Aging and Longevity.
LANSING, ILL. — Greenstone Partners has arranged the $12.6 million sale of the Hickory Oaks apartment complex in Lansing, about 25 miles south of downtown Chicago. Greenstone’s Michael Duckler represented the buyer, SpringView Investments, and the undisclosed seller. The 138-unit property presents a value-add opportunity, with in-place rents approximately 25 percent below market. The asset features eight garden-style buildings across 3 acres. There are 84 two-bedroom units, 52 one-bedroom units and two studios.
NEW YORK CITY — The Domain Cos. has secured $175.6 million in financing from Wells Fargo for the development of a new multifamily project in the Astoria neighborhood of Queens. Canyon Partners Real Estate and BLDG Management are Domain’s equity partners on the deal. Chris Peck and Nicco Lupo of JLL Capital Markets arranged the construction financing on behalf of Domain. Dubbed Elara, the new development will total 429 apartments. The property will include an 18-story building with 330 units — Elara East — and a 12-story building with 99 units — Elara West. Of the apartments, 107 units, or 25 percent, will be designated as permanently affordable housing. Amenities at Elara will include fitness centers, coworking spaces, a screening room, listening lounge, gaming room with a golf simulator, children’s playroom, dog wash station, outdoor courtyards and a rooftop terrace. The property will also feature 4,000 square feet of retail space. Good Co. will market and lease the residential units on behalf of the ownership, and Igloo will handle marketing and leasing for the commercial spaces. VOREA Construction Group, a subsidiary of Domain, will serve as the general contractor. Domain acquired the company in 2025. Founded in 2004, Domain is headquartered …