CHICAGO — Greenstone Partners has arranged the $2.3 million sale of 1151 West Erie Street, a nine-unit multifamily property located at the edge of Chicago’s West Town and Fulton Market neighborhoods. The building went under contract within the first week of marketing. Jordan Multack of Greenstone represented the seller, a Chicago-based private investor group, as well as the buyers, a pair of locally based 1031 exchange investors.
ATLANTA — As the demand for “age appropriate” living solutions continues to rise, seniors housing real estate is evolving rapidly. Modern developments are moving beyond the scope of previous institutional models that are stuck in the past and accelerating forward into physical environments that promote dignity, independence and community for the next generation of residents. The new wave of seniors housing residents are individuals who often have different expectations, lifestyles and needs compared to previous generations when it comes to their housing options. Whether it is a tech-savvy grandmother or a health-conscious grandfather, each generation of seniors finds aspects of life that they value more than their predecessors. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Health and wellness is an especially important component of seniors housing developments coming on line, as today’s older adults are living longer, staying more active and placing significance on quality of life. Connie Wittich, founding principal and CEO of Metropolitan Studio, highlighted that people want to live in beautiful places that focus on mental health and wellness, specifically. “We receive a lot of …
MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Mason + Mill, a 349-unit apartment community located in the southern Fort Worth suburb of Mansfield. Completed in 2024, the property offers studio, one- and two-bedroom units that have an average size of 883 square feet. Residences are furnished with stainless steel appliances, individual washers and dryers, built-in wine racks and desks and various pieces of smart-home technology. The amenity package comprises a pool, fitness center, outdoor grilling and dining stations, a resident clubroom with a pool table and arcade, pet park, private work suites, indoor and outdoor lounges and a hospitality bar. Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and Shelby Clark of IPA represented the undisclosed seller in the transaction and procured the buyer, Utah-based Millburn & Co.
MONTGOMERY, TEXAS — A joint venture between Dallas-based Edison Equity Management and New Jersey-based ARCTRUST Private Capital has broken ground on a 165-unit active adult project in Montgomery, located north of Houston. Known as Serenova Concierge Communities at Woodforest, the property will offer 133 one- and two-bedroom apartment homes and 32 private villas with attached garages. Amenities will include a pool, fitness center, pickleball court, indoor golf simulator, creative art studio, clubroom, wine room for private events and an onsite restaurant and social bar. The Clerkley Watkins Group is the project architect and will be joined by Kathy Andrews Interiors and general contractor The Brownstone Group as project partners. The first move-ins are expected to begin in late 2026.
AUSTIN, TEXAS — Northmarq has brokered the sale of two residential rental properties totaling 38 units in the Austin area. Redbud Cove is a 15-unit build-to-rent complex in West Lake Hills, located west of the state capital, that was built in 1976 and recently renovated. Zilker Place is a 23-unit apartment complex located in south-central Austin that offers studio, one- and two-bedroom units. Will Collier, Jordan Vaughn and Hayden Schnieders of Northmarq represented the seller, locally based development and investment firm Rastegar Property Co., in the transaction. The buyer was Aperture Capital Partners.
ATLANTA — CIM Group and Centennial Yards Co. have unveiled The Mitchell, a 304-unit residential tower within the $5 billion Centennial Yards mixed-use development underway in downtown Atlanta. The 19-story luxury apartment building comprises apartments ranging from studio to three-bedroom floorplans. Select units offer walk-in closets, balconies and floor-to-ceiling windows with panoramic views. Rental rates for a 512-square-foot studio apartment begin at $1,450, according to Apartments.com. Amenities at The Mitchell include a community pool, fitness center, coworking space with office suites, multiple outdoor gathering areas and indoor event spaces with a catering kitchen, as well as a dedicated pet area with a pet spa and 16,000 square feet of ground-floor retail and restaurant space. Khao Thai Isan, a Thai tapas concept introduced by 26 Thai, will occupy 4,730 square feet. Additional retail and dining operators will be announced in the coming months. The Mitchell will join The Lofts at Centennial Yards South, which features 162 units located above the Georgia-based brewery Wild Leap. Meanwhile, the 292-room Hotel Phoenix is scheduled for completion later this year, and Cosm’s immersive sporting experience is planned for 2026. A 5,300-seat Live Nation venue was also announced earlier this year, with an anticipated opening in 2027. …
NEW YORK CITY — Douglaston Development is nearing completion of a $320 million multifamily project at 1057 Atlantic Ave. in the Bedford-Stuyvesant neighborhood of Brooklyn. The 17-story building will have 456 units, 138 units of which will be reserved as affordable housing, as well as 31,000 square feet of retail space. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a fitness center, lounge, golf simulator, game room, screening room, children’s playroom and a landscaped rooftop deck, as well as 31,000 square feet of ground-floor retail space. Construction topped out last February. Leasing will begin in the coming weeks.
NEW YORK CITY — A partnership between William Macklowe Co. and GreenBarn Investment Group has begun leasing Paseo on Fifth, an 131-unit multifamily project located in the Park Slope area of Brooklyn. Designed by SLCE Architects with interiors by Durukan Design, the property offers studio, one- and two-bedroom units and amenities such as a fitness center, children’s playroom, social suite and a rooftop lounge. Rents start at approximately $3,100 per month for a studio apartment.
LONG BEACH, CALIF. — JLL Capital Markets and HJ Sims have closed $80.1 million in tax-exempt bond financing for the development of Sunrise of Long Beach, a Sunrise Senior Living community in Long Beach. On behalf of Quality Senior Housing Foundation and Sunrise Senior Living, JLL’s Seniors Housing Capital Markets team, in collaboration with the bond underwriting teams of HJ Sims and JLL Securities, secured financing through California Public Finance Authority Senior Living Revenue Bonds, Series 2025A. Located at 3340 N. Los Coyotes Diagonal, the two-story, 78,227-square-foot community will feature 62 assisted living and 24 memory care apartments across 102 licensed beds. Assisted living accommodations will include generously sized studio layouts with private bathrooms, kitchenettes with refrigerators and individually controlled HVAC systems, while memory care offerings will include both private studios and shared suites designed to accommodate couples or roommate preferences. Community amenities will include a wellness center, multiple dining venues, including a formal dining room and casual bistro, a library, theater room, fitness center, beauty salon and four secure landscaped courtyards. The project team includes Sunrise Development as developer, W.E. O’Neil Construction Co. as general contractor and HPI Architecture providing design services. Construction is slated for completion in first-quarter 2027.
KENT, SEATTLE AND SHORELINE, WASH. — The Simon | Anderson Multifamily team at Kidder Mathews has completed the sale of a four-property apartment portfolio in the Seattle area. John Stephanus sold the four-property portfolio and used the proceeds to acquire The Postmark, a 243-unit multifamily community in Shoreline. The purchase was executed through a series of transactions that were previously announced in August. The portfolio includes the 108-unit Swiss Gables Apartments in Kent, the 67-unit Charbern Apartments in Seattle’s Capitol Hill, the 76-unit Stockbridge Apartments in Seattle’s First Hill and the 72-unit Carolina Court Apartments in Seattle’s South Lake Union. Delivered in 2020, The Postmark offers 243 studio, one-, two- and three-bedroom units with high-end finishes and modern layouts. Amenities include a fitness center, yoga studio, resident lounge, rooftop deck, package lockers, bike storage and secure parking. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon | Anderson Multifamily team at Kidder Mathews represented John Stephanus in the transactions.
