NEW YORK CITY — Locally based brokerage and financial advisory firm Ariel Property Advisors has arranged a $50 million loan for the refinancing of a portfolio of 13 multifamily properties in Manhattan. The names and addresses of the properties, which collectively total 330 residences and five commercial spaces, were not disclosed, but the locations are in the Chelsea, East Village, Kips Bay and Upper East and West Side neighborhoods. Matthew Dzbanek and Matt Swerdlow of Ariel originated the 10-year, nonrecourse loan, which carries a 5.38 percent fixed rate and 25-year amortization schedule. The borrower and direct lender were also not disclosed.
LOS ANGELES — BWE has secured a total of $220 million in financing for Opus, an apartment property in the Koreatown neighborhood of Los Angeles. Max Sauerman and Tyler Shebeck of BWE’s Los Angeles office originated a $205 million five-year senior loan and a $15 million floating-rate mezzanine loan on behalf of the borrower, an affiliate of Jamison Properties. New York Life Real Estate Investors (NYLREI) provided the financing. Completed in June 2024, Opus offers 428 studio, one-, two- and three-bedroom apartments spread across two high-rise towers connected by a secured parking garage and amenity deck. The units feature floor-to-ceiling windows, open floor plans, high ceilings, luxury appliances, balconies and smart home features. Onsite amenities include multiple resident lounges and entertaining spaces, coworking rooms, two state-of-the-art fitness centers, a game room, movie theater, golf simulator, dog park and grooming station, an automated concession room, a rooftop pool with a spa and cabanas, rooftop bars, dining areas, barbecue grills and fire pits. Additionally, the property offers 10,000 square feet of ground-floor commercial space, which is 33 percent leased to a coffee shop and a boba shop.
SANTA FE, N.M. — Aberg Property Co. is developing Zia Flats, a 244-unit apartment property, as part of Phase I of the Zia Station mixed-use project in Santa Fe. The land is owned by Zia Station LCC, which will be a joint venture partner in the development. Aberg Property Co. and Zia Station LLC have partnered with Sunward Bank for the financing. Located at the northeast corner of St. Francis Drive and Zia Road, Zia Flats will offer 24 onsite affordable units, a resort-style pool, clubhouse with coworking space, a fitness center and outdoor space with large courtyards featuring fire pits and other amenities. The asset will consist of six two- and three-story buildings. The new community is expected to be under construction for approximately 22 months and will open in early 2027. The second phase of Zia Station, which will feature commercial and residential use, is in the early design stages.
SEATTLE — Kidder Mathews has arranged the off-market sale of Union Park, an apartment property in Seattle’s First Hill neighborhood. Terms of the transaction were not released. Located at 1310 Minor Ave., Union Park offers 84 apartments. Dylan Simon, Jerrid Anderson and JD Fuller of the Simon | Anderson Multifamily Team at Kidder Mathews represented the undisclosed seller and sourced the undisclosed buyer in the deal.
TUALATIN, ORE. — Next Wave Investors has completed the disposition of River Lofts, an apartment property in Tualatin, to FPA Multifamily for $15.8 million, or $214,189 per unit. Located on the banks of the Tualatin River, 12 miles from Portland, River Lofts offers 74 apartments. Built in 1974, the asset has undergone interior and exterior upgrades. Anthony Palladino, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon of Institutional Property Advisors (IPA), a division of Marcus & Millichap, and Georgie Christensen-Riley of Marcus & Millichap represented the seller and procured the buyer in the deal. David Tabata of Marcus & Millichap served as broker of record in Oregon.
CHICAGO — Kiser Group has negotiated the $5.7 million sale of a fully occupied apartment building in Chicago’s Edgewater neighborhood. A former condo deconversion, the property features a mix of one-, two- and three-bedroom units and presented a value-add opportunity. All units were equipped with individual/central HVAC systems and varying levels of finishes from renovations completed roughly 20 years ago. Jacob Price and Katie LeGrand of Kiser brokered the transaction. The buyer owns apartments nearby.
WINTER GARDEN, FLA. — A joint venture between Pearlmark and Ashcroft Capital has acquired Birchstone Waterleigh, a 300-unit multifamily community in the Horizon West master-planned community near Winter Garden. Birchstone Residential, Ashcroft’s in-house property management and construction management company, will operate the community. DHI Residential sold the property for an undisclosed price. Built in 2023, Birchstone Waterleigh, formerly known as Ascend Waterleigh Club, offers one-, two- and three-bedroom units ranging from 880 square feet to 1,563 square feet, according to Apartments.com. Amenities at the property include a resort-style, saltwater pool with a poolside pavilion, wet bar and grills; a 24-hour gym with a Peloton room; an entertainment club room with arcade; and a cybercafé with private offices and a conference room with a coffee and beverage station. The property also features an activity lawn with table tennis, a dog park, pet spa and electric vehicle charging stations.
COLLEGE STATION, TEXAS — McNair Collegiate Partners has arranged the sale of The Trails at Wolf Pen, a 1,006-bed student housing property serving students at Texas A&M University in College Station. Built in 1997, the property offers 404 units in one-, two- and four-bedroom configurations. Shared amenities include a fitness center, two pools, study rooms and tennis, basketball and volleyball courts. The buyer, Stonebridge Property Group, plans to upgrade units and shared amenity spaces following the acquisition. Jeyton McNair and Mitch Holt of McNair Collegiate Partners represented the undisclosed seller in the transaction.
HARLINGEN, TEXAS — KeyBank Real Estate Capital has provided a $28 million Freddie Mac loan for the refinancing of Valor at Harlingen, a 288-unit multifamily property located in the Rio Grande Valley region of South Texas. The garden-style property was built on 16.4 acres in 2013 and consists of 13 three-story residential buildings, a clubhouse, maintenance/storage buildings and seven parking garages. Patrick McFarland and Benjamin Baxter of KeyBank originated the nonrecourse, five-year loan on behalf of the borrower, Texas-based owner-operator Presidium.
FORT WORTH, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Victoria Place, 43-unit apartment complex in southwest Fort Worth that was built in 1968. According to Apartments.com, the property offers one- and two-bedroom units with average sizes of 830 and 1,105 square feet, respectively. The buyer and seller were not disclosed.