Multifamily

Waterton Acquires 30-Story Apartment Tower in Downtown Minneapolis

by Kristin Harlow July 22, 2025

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 30-story apartment tower with 370 units in downtown Minneapolis. The seller was a joint venture between Opus Development Co. and Corebridge Real Estate Investors. Opus constructed, designed and developed the property in 2018. Located at 365 Nicollet Mall in the city’s Gateway District, the building features studios, one-, two- and three-bedroom units. There are 50 penthouse units. Amenities at the property include a fitness center, yoga studio, sauna, relaxation room, outdoor pool, entertainment kitchen, recreation lounge, coworking space, golf simulator, pet spa and dog run. Waterton plans to implement a light value-add renovation program across residences and common areas. Plans call for refreshed furniture, fixtures and equipment, as well as new flooring and equipment in the fitness center. Ted Abramson, Abe Appert and Keith Collins of CBRE represented the seller.

July 22, 2025

Acquisitions Illinois Midwest Multifamily

Essex Arranges $3M Sale of Three-Building Multifamily Portfolio in Chicago

by Kristin Harlow July 22, 2025

CHICAGO — Essex Realty Group LLC has arranged the $3 million sale of a three-building multifamily portfolio totaling 55 units in Chicago’s West Chatham neighborhood. The three-story properties feature six studios, 26 one-bedroom units, 12 two-bedroom units and four three-bedroom apartments as well as eight commercial spaces. Joe Kahlhammer of Essex brokered the transaction. The seller was a long-term local owner.

July 22, 2025

Development Georgia Multifamily Southeast

Portman to Develop 332-Unit Multifamily Community in Metro Atlanta

by Abby Cox July 21, 2025

FAIRBURN, GA. — Locally based Portman will develop a 332-unit multifamily community in Fairburn, roughly 20 miles south of downtown Atlanta. Dubbed Meadow Glen Village, Portman will begin construction this month, with plans to deliver the project in June 2027. The development will span nine buildings — each with dedicated parking — and will include a variety of floorplans and layouts. Meadow Glen Village will also feature a public greenspace that will be flanked on both sides by two 6,000-square-foot retail buildings that will be curated with food-and-beverage concepts and service retailers. Portman’s residential team has developed more than 20,000 residential units, including multifamily communities like Sora at Spring Quarter in Midtown Atlanta, Starling in Nashville’s Germantown neighborhood, Vera at Savona Mill in West End Charlotte and Linea in Charlotte’s South End district.

July 21, 2025

Acquisitions Florida Multifamily Southeast

Atlas Real Estate Acquires 384-Unit Multifamily Community in Orlando

by Abby Cox July 21, 2025

ORLANDO, FLA. — Atlas Real Estate Partners has acquired Perse Apartments, a 384-unit multifamily complex located in the Little Lake Bryan neighborhood of Orlando. Ted Taylor and Kyle Butler or JLL’s Investment Sales and Advisory team represented the seller, TRION Properties, in the transaction. Scott Wadler, Mitch Sinberg, Matt Robbin and Brad Williamson of Berkadia arranged financing for the acquisition. Originally built in 2008, Perse Apartments is situated along the I-Drive corridor at 8151 Peterson Woods Drive and features one-, two- and three-bedroom floorplans averaging more than 1,100 square feet in size. Amenities include a resort-style swimming pool, fitness center, clubhouse, courtyard, conference rooms, laundry facilities and a grill and picnic area. Atlas Real Estate plans to renovate unit interiors and common areas, as well as to enhance the property’s amenities with repositioning the swimming pool with a sundeck and cabanas and improving the fitness center and clubhouse.

July 21, 2025

Development Multifamily New Jersey Northeast

BNE Real Estate Completes 205-Unit Multifamily Project in South Amboy, New Jersey

by Taylor Williams July 21, 2025

SOUTH AMBOY, N.J. — BNE Real Estate Group has completed The Pearl at Station Bay, a 205-unit multifamily project located about 30 miles south of New York City in South Amboy. Designed by Minno & Wasko Architects and Planners with interiors by Mary Cook Associates, the four-story building was developed as part of Phase II of Station Bay, a $500 million waterfront redevelopment of the former Manhattan Beach Club site. Units come in studio, one- and two-bedroom floor plans. Amenities include a pool, fitness center with a yoga studio, golf simulator lounge, game lounge, coworking space with private offices, café with coffee and a snack bar, private event suite with a bar and lounge, dog run and outdoor grilling and dining stations. Rents start in the mid-$2000s for a studio apartment.

July 21, 2025

Acquisitions Multifamily New Jersey Northeast

CBRE Negotiates Sale of 116-Unit Apartment Complex in Morris Plains, New Jersey

by Taylor Williams July 21, 2025

MORRIS PLAINS, N.J. — CBRE has negotiated the sale of The Highlands at Morris Plains, a 116-unit apartment complex in Northern New Jersey. Built in 2003, the property offers one- and two-bedroom units and amenities such as a fitness center, business center, dog run, outdoor grilling and dining stations and package handling service. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE represented the undisclosed seller in the transaction and procured the buyer, a joint venture between Shamah Properties and Sagard Real Estate.

July 21, 2025

Development Multifamily New York Northeast

Davis Cos., Eloise Capital Begin Leasing 97-Unit Apartment Building in Harlem

by Taylor Williams July 21, 2025

NEW YORK CITY — A partnership between Boston-based investment firm The Davis Cos. and Eloise Capital has begun leasing 1975 Madison, a 97-unit apartment building in Harlem. The site is located within the newly formed Harlem 125th Street Business Improvement District. Designed by DXA Studio and built by Broadway Construction Group, the building houses one- and two-bedroom units and amenities such as a wellness garden, coworking area, media room, fitness center, dog wash station and a penthouse lounge. Rents start at approximately $3,350 per month for a one-bedroom apartment.

July 21, 2025

Colorado Loans Multifamily Western

Dwight Mortgage Trust Provides $43M Bridge Loan for Avian Apartments in Colorado Springs

by Amy Works July 21, 2025

COLORADO SPRINGS, COLO. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $43 million bridge loan to refinance Avian, a multifamily community in downtown Colorado Springs. Avian features 148 apartments, a parking garage, resort-style pool, gym and work-from-home lounges. Brandon Baksh and Talisse Thompson of Dwight Capital originated the loan for the sponsor, Jackson Dearborn Partners. Dwight closed the loan upon issuance of the initial Temporary Certificate of Occupancy. Proceeds were used to repay the project’s construction loan and fund transaction-related costs.

July 21, 2025

Acquisitions Multifamily Washington Western

CBRE Negotiates $25.5M Sale of Multifamily Property in Spokane Valley, Washington

by Amy Works July 21, 2025

SPOKANE VALLEY, WASH. — CBRE has negotiated the $25.5 million sale of Village on Broadway, an apartment property in Spokane Valley. Josh McDonald, Joe Nydahl and Jordan Louie of CBRE represented the undisclosed seller in the transaction. The name of the buyer was also not released. Located at 12623 E. Broadway Ave., Village on Broadway offers 148 one-, two- and three-bedroom units with in-unit washers/dryers. Community amenities include covered parking, a community garden, dog park, playground and a community barbecue area. The property was built in 1996.

July 21, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

Stellar Senior Living Acquires 152-Unit Community in Marana, Arizona

by Amy Works July 21, 2025

MARANA, ARIZ. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.

July 21, 2025

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