Multifamily

National Real Estate Advisors Opens Office-to-Residential Conversion Project in D.C.

by Abby Cox October 16, 2026

WASHINGTON, D.C. — National Real Estate Advisors has opened Aviator House, an office-to-residential adaptive reuse development located in the Dupont Circle neighborhood of Washington, D.C. The former Air Line Pilots Association headquarters was transformed into 157 residential units, including 15 affordable units. Aviator House was the first project advanced through and opened under the District’s Housing in Downtown (HID) initiative. The project team included Clark Construction (general contractor), Eric Colbert & Associates (architect/design), Gaëtane & Co. (architect/design), DXA Studio and Neoscape (interior and brand design). Bozzuto will serve as the community’s leasing and property management partner. Aviator House offers studio, one- and two-bedroom apartments ranging in size from 416 to 1,281 square feet. Residents have access to approximately 8,000 square feet of amenities, including coworking spaces with individual and shared offices; a fitness center; pet spa and dog run; bicycle garage; and a bi-level rooftop lounge featuring indoor gathering spaces, outdoor terraces, grill and dining areas and expansive views across the District. Monthly rental rates begin at $2,275. Originally constructed in 1972 and designed by architect Vlastimil Koubek, the building was most recently used by Johns Hopkins University for classroom and office space. The redevelopment retains its eight-story structure and modernist …

October 16, 2026

Affordable Housing Loans Multifamily New York Northeast

Merchants Bank Provides $27.5M in Financing for Brooklyn Affordable Housing Complex

by Taylor Williams October 16, 2026

NEW YORK CITY — Merchants Bank has provided $27.5 million in bridge financing for the acquisition and rehabilitation of Restore Housing Apartments, a 138-unit affordable housing complex in Brooklyn. The borrower is local owner-operator Tredway. The property offers one-, two-, three- and four-bedroom apartments that are reserved for households earning 50 percent or less of the area median income. The capital improvements, which are valued at $10 million and will preserve the property’s affordability status for another 99 years, will include new lobbies, kitchens, bathrooms, energy-efficient appliances and a rooftop solar installation. Merchants Capital arranged the financing.

October 16, 2026

Acquisitions Multifamily New Jersey Northeast

ICON Real Estate Negotiates $4.1M Sale of Apartment Building in Bayonne, New Jersey

by Taylor Williams October 16, 2026

BAYONNE, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $4.1 million sale of a 25-unit apartment building in the Northern New Jersey community of Bayonne. According to Apartments.com, the building at 5-7 Kelly Parkway exclusively offers one-bedroom units. David Betesh of ICON Real Estate Advisors represented the seller, a local family, in the transaction and procured the undisclosed buyer.

October 16, 2026

Arizona Development Loans Multifamily Western

Max Benjamin Partners Arranges $74.8M in Construction Financing for Townhome Property in Flagstaff, Arizona

by Amy Works October 16, 2026

FLAGSTAFF, ARIZ. — Beverly Hills, Calif.-based Max Benjamin Partners has secured a $74.8 million nonrecourse loan for Red Oak Development for the construction of Pine Haven, a townhome property located at 2951 S. Masonic Lane in Flagstaff. Cameron Lind of Max Benjamin Partners arranged the loan for the borrower. Totaling 83 townhomes, Pine Haven will offer three home collections — Ponderosa, Aspen and Juniper — each a three-bedroom, 2.5-bath townhome with a two-car garage and indoor/outdoor living space. The development will also include a dedicated wellness amenity center with a cold plunge, a Spanish cedar sauna and a Japanese meditation room. Situated on 13.8 acres in Arizona’s Coconino National Forest, roughly half of the property will remain preserved as forest. The community is backed by an extensive public trail system and will have dark-sky compliant lighting throughout. First unit sales are expected to commence in late 2027.

October 16, 2026

California Development Multifamily Western

National City Investment Group Breaks Ground on 120-Unit Apartment Community in California

by Amy Works October 16, 2026

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a workforce apartment property at 303 Highland Ave. in National City. Slated for completion in first-quarter 2028, the project will transform an underutilized parking lot adjacent to Manolo Farmers Market. Market View will offer 120 studio, one- and two-bedroom layouts in three residential buildings linked by open space, pedestrian connectivity and Manolo Farmers Market. The community will feature shared spaces, private outdoor areas, a shared rooftop deck, coworking area at the ground-floor lobby, community room opening to outdoor space, a guest suite planned for future resident use and a wellness center with an outdoor yoga deck. The project team includes RDC as architect, R.D. Olson Construction as general contractor and McCullough Landscape Architecture as landscape designer. The National City Investment Group is a locally owned, privately held real estate investment company whose members have longstanding business ties to the South San Diego community.

October 16, 2026

Acquisitions California Multifamily Western

Colliers Brokers Sale of Two-Property Multifamily Portfolio in Fallbrook, California for $37M

by Amy Works October 16, 2026

FALLBROOK, CALIF. — Colliers has arranged the sale of a two-property multifamily portfolio, totaling approximately $37 million, in Fallbrook. The portfolio includes Amberwood Apartments, a 133-unit property at 923 Alturas Road, that sold for $24.2 million, and Rosewood Apartments, a 73-unit community at 338 Ammunition Road, that sold for $12.4 million. Shane Shafer and Brian Anderson of Colliers represented the sellers, Amber Creek Associates LTD and Rosewood Associates LTD, respectively, in the transactions. The names of the buyers were not disclosed.

October 16, 2026

Affordable Housing Development Indiana Midwest Multifamily

Annex Group Breaks Ground on $71M Affordable Housing Community in Indianapolis

by Kristin Harlow October 16, 2026

INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community just south of downtown Indianapolis. The $71 million project will offer one-, two- and three-bedroom units to households earning between 50 and 60 percent of the area median income. Amenities will include a community center, fitness center, business center, dog park, garden area, playground and picnic area. Annex’s partnership with the McKenzie Center for Innovation and Technology will create hands-on learning and career development opportunities for locals through Annex University, an initiative launched earlier this year. Project partners for Central at Old Southside include BVH Architecture, CEC as civil engineer and Impact Housing Indiana Corp., an organization dedicated to supporting residents of affordable housing communities within Annex’s portfolio. The City of Indianapolis awarded the project with a 15-year PILOT, and Indiana Housing and Community Development Authority (IHCDA) provided $500,000 in soft funding as well as $33.5 million in tax-exempt bonds. Bank of America provided approximately $30 million in total equity as well as $53 million in construction financing, while Merchants Capital provided more than $30.7 million in permanent debt financing.

October 16, 2026

Acquisitions Midwest Multifamily Wisconsin

Berkadia Arranges Sale of 458-Unit Multifamily Property in Mount Pleasant, Wisconsin

by Kristin Harlow October 16, 2026

MOUNT PLEASANT, WIS. — Berkadia has arranged the sale of Tivoli Green, a 458-unit multifamily property in Mount Pleasant. Pete Evans and Richard Evans of Berkadia represented the seller, Wangard Partners Inc. The buyer was Illinois-based Santefort Real Estate Group LLC. Wangard has been retained to provide third-party management services for the community. Chris Blechschmidt and Emily Stang of Berkadia arranged acquisition financing through Freddie Mac. Tivoli Green was delivered in three phases from 2021 to 2024. The 22-building property is situated on 38 acres and features two-story townhomes.

October 16, 2026

Loans Multifamily Texas

Walker & Dunlop Arranges $110M Refinancing of Two Apartment Communities in Stafford, Texas

by Taylor Williams October 15, 2026

STAFFORD, TEXAS — Walker & Dunlop has arranged a $110 million loan for the refinancing of 1879 at the Grid and Arc at the Grid, two apartment communities totaling 731 units in the southwestern Houston suburb of Stafford. Built in 2019 and 2020, respectively, within a 192-acre mixed-use development, 1879 at the Grid and Arc at the Grid both offer studio, one-, two- and three-bedroom units. Amenities include pools, fitness and wellness centers, resident lounges, coworking spaces, pet parks, courtyards, package lockers and outdoor grilling and dining stations. Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer of Walker & Dunlop arranged the floating-rate, interest-only loan through TPG Real Estate Credit. The borrower is Lone Star Funds.

October 15, 2026

Development Multifamily Texas

HSR Breaks Ground on 435-Unit Mixed-Income Multifamily Project in North Dallas

by Taylor Williams October 15, 2026

DALLAS — High Street Residential (HSR) has broken ground on a 435-unit mixed-income multifamily project in North Dallas. The project will occupy 5.4 acres within the larger, 8.6-acre site at 5550 Lyndon B. Johnson Freeway, which formerly housed an office building. The new development will consist of two buildings that will rise five and seven stories and will house 217 market-rate units and 218 affordable housing units. Specifics on floor plans and income restrictions were not disclosed. Amenities will include a pool, clubroom, sports lounge, fitness center, grilling stations and a rooftop terrace. HSR is developing the project, which is expected to be complete in summer 2028, in partnership with Acram Group and Parse Capital. WDG Architecture is designing the project, and OHT Partners is the general contractor. Bank OZK is serving as senior lender.

October 15, 2026

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