Multifamily

Gateway-Villas-Apts-LV-NV

LAS VEGAS — The Bascom Group has refinanced Gateway Villas Apartments in Las Vegas with a $30.8 million loan. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged the financing, with Bridge Investment Group providing the loan. The Bascom Group acquired the 200-unit community in December 2021. Gateway Villas was constructed in 1984 and 1985 and comprises one- and two-bedroom units and a pool, clubhouse, fitness center, putting green and grilling area. Bascom completed a renovation program during its hold that updated amenities and repurposed the putting green into a central park with a shaded play structure.

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FOUNTAIN VALLEY, CALIF. — SlateView Capital has completed the acquisition of Parkview Estates, a 151-unit assisted living and memory care community located in Fountain View, approximately 40 miles southeast of Los Angeles. Amenities at the property, which was completed in 2021, include restaurant-style dining, activity spaces, a fitness and therapy area, a salon and a theater. The seller and sales price were not disclosed. This marks the second acquisition for SlateView since the firm’s inception. Azhar Jameeli, formerly of IRA Capital, and Kendall Young established SlateView in late August. 

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WAUKEE AND JOHNSTON, IOWA — CBRE has brokered the sale of a two-property multifamily portfolio totaling 540 units in the Des Moines suburbs of Waukee and Johnston. CBRE’s Cy Fox, Ray Hamilton and Clark Matthews represented the sellers, ARTISAN Capital Group and MLG Capital. The portfolio includes Alice Patricia Apartments in Waukee and Sterling Pointe Apartments in Johnston. Built between 2013 and 2020, the properties are located less than eight miles apart.

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SIOUX FALLS, S.D. — Northmarq has provided $26.1 million in Fannie Mae financing for Foxmoor Apartments, a 350-unit community in Sioux Falls. John Reed of Northmarq arranged the financing on behalf of the borrower, Samuelson Development. The fixed-rate loan features a 10-year term. The property consists of three four-story buildings with a mix of studio, one- and two-bedroom units averaging 748 square feet as well as 2,300 square feet of commercial space. Amenities include a 9,600-square-foot clubhouse with a theater, community room, indoor pool, fitness center and spa.  

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GEORGETOWN, LEANDER AND AUBREY, TEXAS — Walker & Dunlop has arranged the $117.3 million refinancing across multiple loans for a portfolio of three apartment communities totaling 960 units in Texas. Two of the properties — the 312-unit Austin Avenue and the 312-unit Aven Ridge — are located in the northern Austin suburbs of Georgetown and Leander, respectively. The third property, the 336-unit Latitude Magnolia, is located just north of the metroplex in Aubrey. The Austin-area communities were built in 2021 and 2022, respectively, and both offer one-, two- and three-bedroom units, while Austin Avenue also offers studio apartments. Latitude Magnolia was completed in 2021 and offers one- and two-bedroom units. Jordan Casella, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, Christopher de Raet and Nicholas Gilhooley of Walker & Dunlop arranged the floating-rate, interest-only loans through Benefit Street Partners. The borrower was an undisclosed institutional investment group.

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NEW YORK CITY — A partnership between California-based private equity firm Hawkins Way Capital and global investment firm Värde Partners has acquired a student housing property in Manhattan’s East Village for $28 million. According to StreetEasy, the building at 81 E. Third St. was built in 2003, rises 13 stories and features 45 units. Information on floor plans and amenities was not disclosed. The partnership acquired the building, which can also support traditional multifamily usage, in an off-market transaction. The seller was not disclosed.

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WASHINGTON, D.C. — Howard University and a development team comprising Lowe, Affinius Capital, FLGA and Davenport Group have broken ground on The Hazel, an 11-story multifamily building in Washington, D.C.’s Shaw district. Situated on the grounds of Howard University’s former East Towers parking lot, The Hazel will include 504 residential units (including 40 affordable units), approximately 15,000 square feet of retail space and 246 below-grade parking spaces. Amenities will include a clubroom, fitness center and a rooftop patio with a partial glass-bottomed pool suspended between the east and west wings of the building. The Hazel is named after musician and Civil Rights figure Hazel Scott. The development team has executed a long-term ground lease with Howard University for the 1.8-acre project, which will feature a 25-foot-wide public plaza spanning a full block on W Street between 8th and 9th streets that will connect the school to the northern part of the Shaw neighborhood. JLL arranged $214.1 million in construction financing for the development, including $90 million in C-PACE financing. The project team, including HKS (architect) and Whiting-Turner (general contractor), plans to deliver The Hazel by fourth-quarter 2028.

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APEX, N.C. — High Street Residential, the residential subsidiary of Trammell Crow Co., has delivered The Henley, a 370-unit apartment community located at 1211 Chapel Ridge Road in Apex, a suburb of Raleigh. The 22-acre property offers a mix of studio, one-, two- and three-bedroom apartments ranging in size from 580 to 1,361 square feet, with 13 units reserved for households earning 60 percent of the area median income (AMI). Monthly rental rates range from $1,325 to $2,445, according to Apartments.com. Amenities include a fitness center with a yoga studio, clubhouse, coworking space, resort-style pool, dog park and spa, reservable private dining room with a demonstration kitchen, community bike share program with smart e-bikes, EV charging stations and connectivity to the North Beavercreek Greenway. The design-build team includes Rule Joy Trammell+ Rubio (architect) and L.F. Jennings (general contractor). Greystar is managing The Henley on behalf of High Street.

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OMAHA, NEB. — Eastham Capital and Bender Cos. have acquired Village at Grant Square Apartments, a 204-unit community in Omaha. South Florida-based Eastham utilized its fund, Eastham Capital Fund VII LP. To date, Eastham and Bender have co-invested in 16 projects. Village at Grant Square is currently 93 percent occupied and features average monthly rents of $1,025. The joint venture plans to make capital improvements, including renovations to select units, enhancements to the clubhouse and common areas, and targeted roof and exterior upgrades. Originally constructed in 1974, Village at Grant Square is an eight-building community with a mix of one- and two-bedroom floor plans averaging 946 square feet. Amenities include a pool, dog park, fitness center, business center, laundry facilities and detached garage parking. Anthony Martinez, Parker Stewart, Dominic Martinez and Alex Malzone of Northmarq brokered the $17.2 million sale of the property and represented the seller, a New York-based private investment group. Brett Hood of Northmarq originated $13.8 million in Fannie Mae DUS acquisition financing. The loan features a five-year term.

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WAUWATOSA, WIS. — Kraus-Anderson has completed Waterfair Apartments in the Wauwatosa Research Park District. Designed by Continuum Architects + Planners, the 124,072-square-foot renovation and adaptive reuse project converted an eight-story, 198-room hotel and convention space (Sonesta Hotel) into 146 affordable residences. The development is near Wauwatosa Milwaukee Regional Medical Center and the Milwaukee Regional Innovation Center. Amenities at the project include a community room, fitness center, media room, coffee lounge, conference and study rooms, a large patio and dedicated commercial office space. Samapa Development was the developer. Construction began in January 2026.

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