Multifamily

Affinius Capital Provides $112.7M Loan for Refinancing of Yonkers Apartment Building

by Taylor Williams July 11, 2024

YONKERS, N.Y. — Affinius Capital has provided a $112.7 million loan for the refinancing of Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. The newly built waterfront property offers 119 studios, 218 one-bedroom units, 90 two-bedroom residences and 13 three-bedroom apartments. Units are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include an outdoor heated pool, terraces with grills and outdoor games, a fitness center, resident lounge, coworking space, multi-sport simulator and a game room. Jonathan Schwartz, Aaron Appel, Sean Reimer, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the financing on behalf of the borrower, a joint venture between Rose Associates and Battery Global Advisors.

July 11, 2024

Loans Massachusetts Multifamily Northeast

Colliers Arranges $62M Loan for Refinancing of East Boston Apartments

by Taylor Williams July 11, 2024

BOSTON — Colliers has arranged a $62 million loan for the refinancing of Addison, a 230-unit apartment community in East Boston that was completed in late 2021. The property offers one- and two-bedroom units and amenities such as a pool, fitness center, basketball court, outdoor grilling and dining stations, coworking lounge, industrial kitchen and a maker space equipped with 3D printers, a laser cutter for digital sewing/embroidery machines and art supplies. Jeffrey Black, Bryan Koop, Sean Burke, Kevin Phelan and Matthew Lombardi of Colliers arranged the loan through CrossHarbor Capital Partners. The borrower was a joint venture between Redgate Capital Partners, North River Co. and ELV Associates.

July 11, 2024

Acquisitions Multifamily New Jersey Northeast

JLL Negotiates Sale of 226-Unit Multifamily Property in Hackensack, New Jersey

by Taylor Williams July 11, 2024

HACKENSACK, N.J. — JLL has negotiated the sale of Avalon Hackensack at Riverside, a 226-unit multifamily property in Hackensack. Avalon Hackensack at Riverside was built in 2013 and offers studio, one-, two- and three-bedroom apartments. Select units feature balconies, patios, dens and loft-style layouts. Amenities include a pool with a grilling area, resident clubhouse, fitness center, tenant lounge and a dog run. Jose Cruz, Michael Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

July 11, 2024

Acquisitions Multifamily Washington Western

Kidder Mathews Arranges $18.8M Sale of Dexter Hayes Apartment Building in Seattle

by Amy Works July 11, 2024

SEATTLE — Kidder Mathews has arranged the sale of Dexter Hayes, a multifamily property at 1701 Dexter Ave. N. in Seattle’s Westlake neighborhood. The asset traded for $18.8 million, or $290,000 per unit. Opened in 2016, Dexter Hayes offers 65 apartments with high-end finishes, spacious floor plans and large windows. Community amenities include a clubhouse, rooftop deck and an open-air central courtyard. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Simon and Anderson team at Kidder Mathews’ Seattle headquarters represented the undisclosed seller and buyer in the deal.

July 11, 2024

Acquisitions Midwest Missouri Multifamily

CBRE Brokers Sale of 316-Unit Apartment Complex in Suburban St. Louis

by Kristin Harlow July 11, 2024

O’FALLON, MO. — CBRE has brokered the sale of Avenue64, a 316-unit apartment complex in the St. Louis suburb of O’Fallon. The sales price was undisclosed. Built in 2022, the Class A property features a range of floor plans averaging 993 square feet. Amenities include a pool, hot tub, courtyard, coffee bar, fitness center, conference room, community grilling areas and outdoor game area. Hannah Ott, George Tikijian, Matt Bukhshtaber, Cam Benz, Claire Bullard and Ryan Stockamp of CBRE represented the seller, Thompson Thrift. Oregon-based Bonaventure was the buyer.

July 11, 2024

Acquisitions Michigan Midwest Multifamily Seniors Housing

JLL Arranges Sale of 184-Unit Senior Living Portfolio in Metro Detroit

by Kristin Harlow July 11, 2024

TROY AND ROCHESTER HILLS, MICH. — JLL Capital Markets has arranged the sale of Anthology of Troy and Anthology of Rochester Hills, two seniors housing communities totaling 184 units in metro Detroit. The sales price was undisclosed. Jay Wagner, Rick Swartz and Jim Dooley of JLL represented the seller and procured the buyer, spearheaded by MedCore Partners. American House Senior Living Communities assumed management of both properties. Anthology of Troy now operates as American House Somerset. The 93-unit community was built in 2017. Anthology of Rochester Hills now operates as American House Hampton Village. The 91-unit property was completed in 2018.

July 11, 2024

Hospitality Loans Mixed-Use Multifamily New York Northeast Retail Top Stories Walker & Dunlop

Walker & Dunlop Arranges $148M Refinancing for The Victoria Mixed-Use Tower in Harlem

by Katie Sloan July 11, 2024

NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged the $148 million refinancing for The Victoria, a mixed-use property in the Harlem neighborhood of Upper Manhattan. At 30 stories, the property is the tallest building in Harlem. The Victoria is built around the neighborhood’s historic Victoria Theater and offers 191 luxury apartments, a 211-room Marriott-branded hotel and 23,000 square feet of retail space. The project was completed in the third quarter of 2023 and also features 52 below-grade parking spaces. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt and William Herring of Walker & Dunlop’s New York capital markets team acted as exclusive advisors to the borrowers, Lam Group and Exact Capital. Aareal Capital provided the financing, which will support ongoing operations and future enhancements to the project. “This transaction underscores the project’s significance as a transformative development in Upper Manhattan, combining luxury living, hospitality excellence and cultural preservation,” says Appel. Bethesda, Md.-based Walker & Dunlop is one of the largest commercial real estate finance and advisory firms in the United States. — Katie Sloan

July 11, 2024

Development Multifamily Texas

Southern Land Co. Completes 27-Story Deco Apartment Tower in Downtown Fort Worth

by Taylor Williams July 10, 2024

FORT WORTH, TEXAS — Nashville-based developer Southern Land Co. has completed Deco, a 27-story apartment building located at 969 Commerce St. in downtown Fort Worth. The 567,000-square-foot building spans 302 units and includes ground-floor retail space that is preleased to Broadway 10 Bar & Chophouse. Units come in one-, two- and three-bedroom floor plans, as well as penthouse configurations, and range in size from 700 to 2,800 square feet. Amenities include a pool and poolside bar, rooftop lounge, fitness center, demonstration kitchen, outdoor grilling and dining stations, package room and a lobby lounge with a bar. Rents start at approximately $2,000 per month for a one-bedroom apartment.

July 10, 2024

Development Multifamily Northeast Pennsylvania

Toll Brothers Completes 344-Unit Apartment Community in Philadelphia

by Taylor Williams July 10, 2024

PHILADELPHIA — Pennsylvania-based multifamily developer Toll Brothers Inc. (NYSE: TOL) has completed Broad + Noble, a 344-unit apartment community in Philadelphia’s Center City District. The 19-story building includes underground parking spaces and street-level commercial space. Amenities include music, media and podcast rooms, conservatory and private dining rooms, a fitness center with yoga and spin studios and a sky lounge with an outdoor deck area. Barton Partners served as the project architect, and O’Donnell & Naccarato handled engineering initiatives. Wells Fargo provided construction financing for the project, which Toll Brothers developed in partnership with Utah-based investment firm Sundance Bay.

July 10, 2024

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $20.5M Sale of Atlantic City Multifamily Portfolio

by Taylor Williams July 10, 2024

ATLANTIC CITY, N.J. — New Jersey-based brokerage firm The Kislak Co. has negotiated the $20.5 million sale of a portfolio of three multifamily properties totaling 258 units in Atlantic City. The portfolio includes Atlantic Venice Park Apartments (112 units); Venice Park Condominiums (78 units operated as rentals); and Hamilton Venice Apartments (68 units). The properties were all built in 1970 and comprise 33 buildings that house 237 two-bedroom units and 21 one-bedroom units. Joni Sweetwood of Kislak represented the undisclosed seller, which disposed of the properties via three separate limited liability companies, in the transaction. Sweetwood also procured the undisclosed buyer.

July 10, 2024

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