Tuesday, June 17, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

AcquisitionsIllinoisMidwestMultifamily

Interra Realty Negotiates Sales of Two Chicago Multifamily Properties Totaling $2.7M

by Kristin Harlow

CHICAGO — Interra Realty has negotiated the sales of two multifamily properties in Chicago’s Montclare neighborhood for a total of $2.7 million. A nine-unit building at 3145 N. Nordica Ave., constructed in 1965, sold for $1.4 million. A nine-unit property at 3037-39 N. Harlem Ave., built in 1974, sold for $1.3 million. The Nordica asset closed at full price and marked the highest price per unit for vintage apartment buildings in the Montclare neighborhood in the last nine years, according to CoStar. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the seller, a local partnership that had owned the properties for decades. The trio procured the buyer of the Harlem property, a local investor. Beco Kalamperovic of Dream Town Real Estate represented the undisclosed buyer of 3145 N. Nordica. The new owners plan to renovate units as tenants move out.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingConference CoverageFeaturesGeorgiaMultifamilySoutheastSoutheast Feature Archive

Volatility Disrupts Investment Sales Activity in Affordable Housing Market, Says InterFace Panel

by John Nelson

ATLANTA — The investment sales market for the affordable housing sector remains muted for one overarching reason: volatility. Cory Sams, executive managing director of GREA (Global Real Estate Advisors), said that a lack of certainty, especially in the capital markets, is giving buyers and sellers of affordable housing properties pause. “The worst thing for a deal is [interest rates] constantly moving around,” she said. “When they were running up and down, every deal fell apart.” Doug Childers, senior managing director of JLL, estimated that affordable housing transaction volume fell 40 percent in 2023 compared with the prior year. For context, multifamily investment sales overall declined by 61 percent year-over-year in 2023, according to MSCI Real Assets (formerly Real Capital Analytics). Childers and Sams made their comments during the investment sales panel of Interface Affordable Housing Southeast, an information and networking conference held at the Cobb Galleria Centre in Atlanta on Thursday, May 9. Interface Conference Group and Southeast Multifamily & Affordable Housing Business hosted the event, which drew approximately 170 industry professionals from across the region. Brian Flanagan, regional director of RBC Community Investments, moderated the investment sales panel. Fittingly, Flanagan kicked off the investment sales discussion by asking the …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaHospitalityMixed-UseMultifamilyOfficeSoutheastTop Stories

KDC Receives Approval for Two New Towers at Mixed-Use Park Center Development in Dunwoody, Georgia

by John Nelson

DUNWOODY, GA. — The Dunwoody City Council has approved the rezoning of Phase IV of Park Center, a 17-acre, transit-oriented office campus in metro Atlanta. The master developer of the project is KDC, a Dallas-based corporate development and investment firm. The amended zoning will allow KDC to change its plans from a standalone fourth office tower to a two-tower project that will comprise 175 hotel rooms, 300 residential units, 22,000 square feet of retail space and 300,000 square feet of office space. The plan includes two towers on a common podium with a 20-story apartment tower and a combined office and hotel tower, where six floors of hotel rooms will sit atop 12 levels of office space. Phase IV represents the final phase of Park Center and will occupy the last undeveloped portion of the development, which was originally conceived as a 2.2 million-square-foot East Coast hub for State Farm Insurance. The project team includes local architecture firm Cooper Carry. The current campus contains three office towers developed over the past 10 years: the 600,000-square-foot Park Center One, which is directly connected to the Dunwoody MARTA Station; the 621,000-square-foot Park Center Two with more than 39,000 square feet of retail …

Continue Reading
FacebookTwitterLinkedinEmail
Marlowe-Apartments_Arlington-Va
AcquisitionsLoansMultifamilyProperty TypeSoutheastVirginia

Berkadia Arranges $40.6M Acquisition Financing for Multifamily Community in Arlington, Virginia

by Hayden Spiess

ARLINGTON, VA. — Berkadia has secured a $40.6 million loan for the acquisition of Marlowe Apartments, a 162-unit multifamily community located in Arlington. Built in 1987, the property is situated directly across from the newly completed Amazon HQ2, Metropolitan Park. Brian Gould, Miles Drinkwalter and Pat Cunningham of Berkadia arranged the financing on behalf of the buyer, Washington, D.C.-based The FORTIS Cos. Additionally, Brian Crivella, Yalda Ghamarian and Bill Gribbin of Berkadia represented the undisclosed seller in the sale to FORTIS. 

Continue Reading
FacebookTwitterLinkedinEmail
Viridian-Greenwood-Village-CO
AcquisitionsColoradoMultifamilyWestern

Pacific Urban Investors Acquires 420-Unit Viridian Apartments in Greenwood Village, Colorado

by Amy Works

GREENWOOD VILLAGE, COLO. — Palo Alto, Calif.-based Pacific Urban Investors has purchased Viridian, a multifamily property in Greenwood Village, a suburb of Denver. Terms of the acquisition were not released. The acquisition marks Pacific’s fourth investment in the Denver market with the firm’s regional portfolio now totaling 884 units. Viridian features 420 apartments with nine-foot ceilings, a resort-style pool, full-sized basketball court and parking ratio of 1.7 stalls per unit.

Continue Reading
FacebookTwitterLinkedinEmail
Fielder's-Glen-Arlington
AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 220-Unit Apartment Complex in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Fielder’s Glen, a 220-unit apartment complex in Arlington. Built on 10 acres in 1985, Fielder’s Glen features studio, one- and two-bedroom units and amenities such as a pool, fitness center, outdoor grilling and dining stations and onsite laundry facilities. Al Silva and Ford Braly of Marcus & Millichap represented the seller, Canadian investment firm Western Wealth Capital, in the transaction and procured the buyer, locally based investment firm Rise48 Equity. Brandon Brown of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Stepping-Stone-Apartments-San-Antonio
AcquisitionsMultifamilyTexas

TMG Arranges Sale of 80-Unit Stepping Stone Apartments in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Stepping Stone Apartments, an 80-unit multifamily complex in San Antonio’s Westwood Village neighborhood. Built in 1985, the property offers one- and two-bedroom units with an average size of 701 square feet. Amenities include a pool, outdoor grilling and dining stations and onsite laundry facilities. Paul Yazbeck of TMG represented the seller in the transaction, and Greg Miller of TMG procured the buyer. Both parties requested anonymity.

Continue Reading
FacebookTwitterLinkedinEmail
Birch-House-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Halpern Real Estate Completes 337-Unit Birch House Apartments in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Locally based developer Halpern Real Estate Ventures has completed Birch House, a 337-unit apartment community located at 49 Fisk St. in Jersey City’s West Side neighborhood. Designed by Minno & Wasko Architects & Planners, the six-story building houses studio, one- and two-bedroom units and roughly 50,000 square feet of indoor and outdoor amenity space. Other project partners included JRM Construction Management and The Corcoran Group, which is marketing the property for lease. Construction began in late 2021 and topped out in spring 2023.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsConnecticutMultifamilyNortheast

NEPCG Negotiates $5.2M Sale of Willow Park Apartments in Danbury, Connecticut

by Taylor Williams

DANBURY, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $5.2 million sale of Willow Park Apartments, a 21-unit multifamily complex located in the southern Connecticut city of Danbury. According to Apartments.com, the property exclusively offers one-bedroom units that span 575 square feet. Jeff Wright and Rich Edwards of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
3Waller-Austin
AcquisitionsMultifamilyTexas

JLL Brokers Sale of 259-Unit Multifamily Property in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — JLL has brokered the sale of 3Waller, a 259-unit multifamily property in downtown Austin. Built in 2022, the property offers studio, one- and two-bedroom micro-units that have an average size of 467 square feet. According to Apartments.com, amenities include a pool, fitness center, coworking space, resident lounge and a rooftop deck. Ryan McBride, Robert Arzola, Robert Wooten, Alex Fernandes and Nick Beardslee of JLL represented the seller, Transwestern, in the transaction. Placemakr acquired the asset for an undisclosed price.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts