Saturday, May 24, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

Jefferson-Eastchase-Fort-Worth
DevelopmentMultifamilyTexas

JPI Breaks Ground on 398-Unit Multifamily Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based developer JPI has broken ground on Jefferson Eastchase, a 398-unit multifamily development in Fort Worth. Designed by DLR Group Architects, the property will offer one-, two- and three-bedroom units and amenities such as a pool, fitness center, coworking lounge, dog park and a clubroom. JPI is developing Jefferson Eastchase in partnership with Fort Worth Housing Solutions, and the project will include an affordable housing component. The first units are expected to be available for occupancy in the third quarter of 2026.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaSoutheastStudent Housing

Florida Polytechnic, Capstone Begin Construction on 430-Bed Residence Hall Project in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — A public-private partnership between Florida Polytechnic University and Capstone Development Partners has begun construction on a 430-bed residence hall project in Lakeland. A topping out ceremony for the project was held in mid-February. The 137,000-square-foot development will offer one-, two- and four-bedroom units, alongside shared amenities including lounge and study space, a large multi-purpose room, offices and an interior courtyard. Delivery of the five-story project is expected for fall 2024. The $42 million development is being financed through tax-exempt public bonds issued by the State of Florida on behalf of the State University System. Capstone Management Partners will provide operations and maintenance services for the residence hall. The project’s design-build team includes Design Collective and Clancy & Theys.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaMultifamilySoutheast

Tampa Housing Authority, Related Urban Break Ground on 188-Unit Affordable Housing Community

by John Nelson

TAMPA, FLA. — Tampa Housing Authority, in partnership with Related Urban Development Group — the affordable and workforce housing arm of Related Group — has broken ground on the second phase of Canopy at West River, a fully affordable housing community in West Tampa. Phase II will comprise one five-story building and one three-story building, located at 1103 W. Main St. and 1102 W. Chestnut St., respectively. Dubbed Tower 3 and Tower 4, the buildings will total 188 units. Tower 3 will offer 158 units in one-, two- and three-bedroom floor plans, and Tower 4 will feature 30 units in three- and four-bedroom layouts. Amenities at the properties will include a fitness center, business center, community rooms and a courtyard with social spaces. Development funding for the project totals $68.3 million. Sources include the Housing Finance Authority of Hillsborough County, Bank of America, Cedar Rapids Bank and Trust Co. and the Florida Housing Finance Corp.’s SAIL, ELI and NHTF funds. Phase I of Canopy at West River is scheduled to open in the second quarter of this year, with Phase II expected to be completed in November 2025.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyTexas

Muskin | Elam Arranges Sale of 30-Unit Apartment Complex Near Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Locally based brokerage firm Muskin | Elam Group has arranged the sale of Mint House at The Hatchery, a 30-unit apartment complex located at 49 Navasota St., just southeast of downtown Austin. Daniel Elam and Lyles Carter of Muskin | Elam Group represented the undisclosed seller, which at the time of sale was operating the property as a short-term rental facility, in the off-market transaction. Vista Bank provided acquisition financing on behalf of the buyer, Resolute Capital.

Continue Reading
FacebookTwitterLinkedinEmail
Clearwater-Newport-Beach-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Clearwater Living Opens 101-Unit Assisted Living Community in Newport Beach, California

by Amy Works

NEWPORT BEACH, CALIF. — Clearwater Living has opened its previously announced Clearwater Newport Beach, a 101-unit assisted living and memory support community in Newport Beach. Located at 101 Bayview Place, Clearwater Newport Beach features 70 assisted living and 31 memory support apartments in a mix of studio, one- and two-bedroom floor plans. The community includes an outdoor courtyard, creative studio, clubroom, fitness and wellness center, theater, housekeeping and laundry, salons, transportation and concierge services. Clearwater Newport Beach also offers a variety of dining options, including an on-site Savor Restaurant, CDM Café, wine vault, outdoor bar and private dining. The community provides residents with access to a licensed nurse on-site, 24-hour compassionate care partners, medication coordination, regular monitoring and other comprehensive care services, as well as physical therapy, occupational therapy and speech-language pathology through a collaboration with EmpowerMe Wellness.

Continue Reading
FacebookTwitterLinkedinEmail
The-Burrow-at-Green-District-Marlborough
AcquisitionsMassachusettsMultifamilyNortheast

Rockpoint, Post Road Sell 235-Unit Apartment Community in Marlborough, Massachusetts

by Taylor Williams

MARLBOROUGH, MASS. — A partnership between Boston-based private equity firm Rockpoint and Connecticut-based developer Post Road Residential has sold The Burrow at Green District, a 235-unit apartment community located in the western Boston suburb of Marlborough. The newly built complex sits on 10 acres and features one-, two- and three-bedroom units. Amenities include a pool, fitness center, coworking space, rooftop deck, podcasting room and access to 40 acres of trails and woodlands. The buyer and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
ColoradoDevelopmentLoansLumentMultifamilySeniors HousingWestern

Lument Arranges $27M Construction Financing for Seniors Housing Project in Durango, Colorado

by Amy Works

DURANGO, COLO. — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent investment firm. C-PACE is an alternative financing mechanism used for the upfront costs associated with energy efficiency or renewable energy improvements. Founded in 2012, Mission Senior Living is an owner and operator of senior living communities in the Western U.S. with six communities totaling 639 units under management.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield | PICOR Brokers $6.1M Sale of Wasko Modern Apartments in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Wasko Modern Apartments, a multifamily property in Tucson. Wasko Modern LLC sold the asset to 2302 East Fort Lowell Owner LLC to $6.1 million. Located at 2302 E. Fort Lowell Road, the 30,280-square-foot investment property features 38 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Holly-Villas-Apts-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

ABI Multifamily Negotiates $5M Purchase of Two-Property Multifamily Portfolio in East Phoenix

by Amy Works

PHOENIX — ABI Multifamily has brokered the acqusition of a two-property apartment portfolio in Phoenix. The 30-unit portfolio traded for $5 million, or $166,667 per unit. The undisclosed buyer and seller are both based in Arizona. John Klocek and Patrick Burch of ABI Multifamily represented the buyer in the deal. Built in 1963, Holly Villas Apartments consists of six buildings offering a total of 22 two-bedroom/two-bath apartments. Consisting of six separate lots, the property sits on a total of 1.49 acres. Built in 1976, 50th Street Apartments features two buildings with seven two-bedroom/one-bath units and one three-bedroom/one-bath unit. The two-lot property sits on a total of 0.48 acres.

Continue Reading
FacebookTwitterLinkedinEmail
IowaLoansMidwestMultifamilySeniors Housing

JLL Arranges $17.9M in Acquisition Financing for Two Seniors Housing Properties in Iowa

by Kristin Harlow

INDIANOLA AND MASON CITY, IOWA — JLL Capital Markets has arranged $17.9 million in acquisition financing for Vintage Hills of Indianola and Country Meadow Place in Iowa. The assisted living and memory care communities total 118 units. Jeff Lepley and Alex Sheaffer of JLL arranged two loans on behalf of the borrower, affiliates of Jaybird Senior Living. Jaybird managed both communities prior to the acquisition. JLL arranged one loan through a regional bank, while the other utilized the HUD 232/223(f) program. The loans represent greater than 80 percent of the total purchase price. Vintage Hills of Indianola is a 62-unit facility located in Indianola, a southern suburb of Des Moines. The building offers amenities such as a movie theater, beauty salon, spa, landscaped courtyard and community parlor. Country Meadow Place is a 56-unit property in Mason City, a city in northern Iowa. The community offers the same amenities as Vintage Hills of Indianola.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts