REBusinessOnline

Greysteel Arranges Acquisition Financing for 184-Unit Multifamily Portfolio in Austin

AUSTIN, TEXAS — Greysteel has arranged an undisclosed amount of acquisition financing for a portfolio of four multifamily properties totaling 184 units in Austin. The properties — Calgary Square, Reinli Arms, Capital Villa and First Oak Place — also include 14 retail spaces. Harrison Cole of Greysteel arranged the financing on behalf of the undisclosed borrower, which plans to implement a value-add program across the

KeyBank Provides $74.3M in Construction Financing for Affordable Housing Property in Columbus

COLUMBUS, OHIO — KeyBank Community Development Lending and Investment has provided $74.3 million in construction financing for Darby Crossing, an affordable housing property in Columbus. Indianapolis-based Kittle Property Group is the developer.The 11-building property will include 60 one-bedroom units, 92 two-bedroom units, 84 three-bedroom residences, 24 four-bedroom apartments and two cottages. All units will be restricted to residents who earn up to 60 percent of the area median …

Annex Group Breaks Ground on $34.4M Affordable Housing Community in Lincoln, Nebraska

LINCOLN, NEB. — The Annex Group has broken ground on Union at Middle Creek, a $34.4 million affordable housing community in Lincoln. The property’s 192 units will be designated for residents earning up to 60 percent of the area median income. Amenities will include a clubhouse, fitness center and nature trail. The development, slated for completion in early 2024, marks Annex Group’s first in Nebraska. Project partners include R4 Capital Funding as lending partner and R4 Capital as equity …

Northwestern Mutual Divests of Cortona Park Assisted Living Community in Brentwood, California for $39.2M

BRENTWOOD, CALIF. — Northwestern Mutual has completed the sale of Cortona Park, an assisted living community in Brentwood, to a joint venture between Cogir and a national investment partner for $39.2 million. The buyer plans to rename the property Cogir of Brentwood.Built in 2007, the community features studio, one- and two-bedroom units averaging 761 square feet. The pet-friendly apartments offer large floorplans with granite countertops, in-unit washers/dryers and private …

CBRE Brokers $59.2M Sale of Orchard Apartments in Marlborough, Massachusetts

MARLBOROUGH, MASS. — CBRE has brokered the $59.2 million sale of The Orchard Apartments, a 156-unit multifamily community located in the western Boston suburb of Marlborough. Built in 2002, the property comprises 17 two- and three-story buildings that house lofts, one- and two-bedroom units with an average size of 1,121 square feet. Amenities include a pool, fitness center and a clubhouse. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the seller, an affiliate of metro …

Vesper, Fortress Acquire 444-Bed Student Housing Community Near University of South Florida in Tampa

TAMPA, FLA. — A joint venture between Vesper Holdings and funds managed by affiliates of Fortress Investment Group has acquired ON50 Tampa, a 444-bed student housing community located near the University of South Florida. The property offers a mix of three- and four-bedroom, fully furnished units. Shared amenities include a swimming pool, computer lab, study lounge, movie and entertainment center, hammock garden, community kitchenette, coffee bar and shuttle service to the university’s …

DLP Capital Acquires 252-Unit Multifamily Property in Corpus Christi

CORPUS CHRISTI, TEXAS — Florida-based investment and development firm DLP Capital has acquired Harbor House on Saratoga, a 252-unit multifamily property in Corpus Christi. The property offers one-, two- and three-bedroom units and amenities such as a pool fitness center, outdoor grilling and dining areas, a basketball court, media room, clubhouse and a dog park. DLP Capital plans to upgrade the unit interiors with stainless steel appliances, granite countertops, vinyl floors and other …

CBRE Brokers $35.2M Sale of Apartment Complex in Westwood, Massachusetts

WESTWOOD, MASS. — CBRE has brokered the $35.2 million sale of Residences at Highland Glen, a 102-unit apartment complex in Westwood, a southwestern suburb of Boston. Constructed in 2006, the age-restricted property comprises two four-story buildings with one- and two-bedroom units, 60 of which were recently renovated. Amenities include a fitness center and a clubroom. Simon Butler, Biria St. John, John McLaughlin, Aron Will and John Sweeny of CBRE represented the locally based seller, …

Eastern Union Arranges $44.8M Agency Loan for Refinancing of Multifamily Property in Amherst, Massachusetts

AMHERST, MASS. — New York-based Eastern Union has arranged a $44.8 million Fannie Mae loan for the refinancing of The Boulders, a 256-unit multifamily property in Amherst, located in the central part of Massachusetts. The market-rate property was built in 1974 and offers two-bedroom units with an average size of 844 square feet. Michael Muller of Eastern Union arranged the floating-rate loan, which carries four years of interest-only payments on behalf of the undisclosed borrower. Newmark …

Dwight Capital Provides $22.2M Acquisition Loan for Queens Village Apartments

NEW YORK CITY — Locally based commercial finance firm Dwight Capital has provided a $22.2 million bridge loan for the acquisition of Queens Village Apartments, a 132-unit multifamily complex. The property comprises three- and six-story apartment buildings featuring a mix of rent-controlled and rent-stabilized units, as well as onsite maintenance services and laundry facilities. Adam Sasouness of Dwight Capital originated the financing, which was arranged by Marvin Jeremias of Crossmark …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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