LAKEWOOD, COLO. — BWE Investment Sales (BWEIS) has arranged the sale of Lakewood Reserve Senior Living, a 137-unit assisted living and memory care community located in Lakewood, approximately eight miles southwest of downtown Denver. BWEIS represented the seller, a private equity seniors housing investor, in the transaction. A REIT acquired the community, which is operated by Stellar Senior Living. The property features 118 assisted living units and 19 memory care units. Amenities at the community include a beauty salon and barber shop, fitness center, theater and entertainment space, courtyards and outdoor gathering spaces.
Multifamily
CHICAGO — Interra Realty has brokered the $19.2 million sale of Paper Box Lofts, a 35-unit apartment building in Chicago’s River North neighborhood. Joe Smazal and Mark Dykstra of Interra represented the buyer, an affiliate of Los Angeles-based Blatteis & Schnur Inc. The duo also represented the seller, an affiliate of Chicago-based developer Senco Properties Inc. Built in 1906 as a paper and box factory, the building operated as loft offices prior to the seller converting it into luxury apartments in 2024. Amenities include a fitness center, multi-level rooftop deck, storage lockers, a mail room and lobby.
TAMPA, FLA. — The University of South Florida (USF) and its development partners have broken ground on the $500 million first phase of Uptown Landing, a new mixed-use project situated within walking distance of the planned USF on-campus football stadium. The first phase of the project comprises 30 acres and will include 717 beds of student housing; 152 apartments reserved for graduate students and USF employees; four to six restaurant venues; 68,000 square feet of retail space; a hotel and conference center and academic research facilities. Delivered through a master development agreement with ACE Fletcher LLC, this development marks the largest public-private partnership (PPP) in the history of the State University System of Florida. ACE Fletcher is a partnership between Capstone Development Partners, Aureate Development and Ellison Development. The project team also includes Provident Resources Group, CBI Construction, Baker Barrios Architects and Kimley-Horn. Funding for the project includes $270 million in tax-exempt bond financing for the student housing, hospitality, restaurant and retail uses, as well as a roughly $225 million investment for the Translational Research Institute. Capstone Management Partners will provide maintenance and operations services at the student housing building in a shared services agreement with USF. The first phase is …
CHARLOTTE, N.C. — Space Craft has launched leasing at Oxbow, a 389-unit apartment development underway at 2125 N. Davidson St. in Charlotte’s Optimist Park neighborhood. Sentral manages the apartment community, which is will provide direct access to the Cross Charlotte Trail. Residences at Oxbow will range from studio apartments to four-bedroom units spanning 410 to 1,501 square feet, as well as 1,258-square-foot townhomes and more than 11,300 square feet of ground-level retail space. Monthly rental rates will range from $1,320 to $3,325, according to Apartments.com. Amenities at Oxbow will include separate cardio and strength gyms, a spa with a sauna and treatment room, coworking space, content studio, makers space, lounge, fleet share services, guest suites, self-serve market and two rooftop venues. The design-build team includes Shook Kelley (architect), Swinerton (general contractor) and Timberlab (cross-laminated timber provider).
DALLAS — April Housing, Blackstone Real Estate’s affordable housing division, has reopened Waterford at Goldmark Apartments, a 220-unit mixed-income housing community in North Dallas, following a $20 million renovation. Waterford at Goldmark is an age-restricted property that offers one-, two- and three-bedroom, townhome-style units. Income restrictions were not disclosed. Renovations included new fixtures, energy-efficient appliances and lighting throughout units’ bathrooms and kitchens; updates to amenity spaces such as the playground, pool and gym facilities; and the installation of new water heaters and rooftop solar panels. April Housing partnered with the Dallas Housing Finance Corp. on the project, which preserves the property’s affordability status for another 30 years.
NEW YORK CITY — JLL has arranged a $60.5 million acquisition loan for a portfolio of two multifamily buildings totaling 93 units in the Williamsburg area of Brooklyn. The buildings at 227 and 456 Grand St. were constructed between 2009 and 2014 and house a mix of market-rate, rent-stabilized and affordable housing units, as well as 22,700 square feet of retail space. Michael Zaremski and Clayton Ross of JLL arranged the loan through New York-based private equity firm Prospect Ridge Advisors on behalf of the owner, locally based developer Delshah Capital.
NEW YORK CITY — Locally based owner-operator Domain Cos. is nearing completion of Majestic, a 255-unit apartment building in Brooklyn’s Gowanus neighborhood. Designed by Handel Architects with interiors by GoodRich Design, Majestic will offer studio, one-, two- and three-bedroom units, 25 percent of which will be set aside as affordable housing. Amenities will include a landscaped roof terrace, an indoor–outdoor fitness center and a courtyard garden. Domain topped out the 10-story building over the summer, and the opening is set for next year.
KANSAS CITY, MO. — Gantry has secured a total of $50.8 million in two permanent loans to refinance post-construction bridge debt for a pair of recently renovated apartment communities in Kansas City. The 222-unit Palisades Apartments is situated in the Eastside submarket, and the 133-unit Mayfair Apartments is located in the city’s Woodbridge neighborhood. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. The CMBS loans feature five-year terms and fixed interest rates.
CHICAGO — Greenstone Partners has brokered the $4.4 million sale of 1276 W. Washington Blvd., a development site in Chicago’s West Loop neighborhood. Danny Spitz and Malek Abdulsamad of Greenstone represented the buyer and seller. The property consists of a 14,850-square-foot parcel of land owned by a longtime Greenstone client. The buyer plans to build a condominium development on the site.
SAN DIEGO — Harrison Street Asset Management and The Michaels Organization have announced a public-private partnership (PPP) agreement with the University of San Diego (USD) for the development of Presidio Terrace Apartments, a $230 million student housing project. Plans call for 700 beds across 321 units. The investment marks the university’s first-ever PPP agreement. “Presidio Terrace is a strong example of how PPPs can help universities address critical infrastructure needs, creating a win-win situation for academic institutions, investors and college communities,” says Jim Hennessy, head of PPP business development at Harrison Street. “Today, we are seeing more PPP activity than ever before, as more universities recognize that these structures allow them to focus on their core academic mission while conserving capital and transferring operational responsibilities to a private partner.” Located on campus between USD’s academic center and a nearby retail corridor, Presidio Terrace will be purpose-built for upperclassmen, graduate and professional students. Slated for completion in August 2029, the development will provide convenient access to USD’s business, nursing, engineering and law schools. The project is structured through a 99-year ground lease with USD and will benefit from a full real estate tax exemption as a university-affiliated facility. Michaels will lead …