Monday, July 27, 2026
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Multifamily

AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $11.5M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Kiser Group has brokered the $11.5 million sale of a 78-unit apartment building located at 6748-50 N. Ashland Ave. in Chicago’s Rogers Park neighborhood. Originally constructed in 1927, the property features Art Deco architectural influences. There are eight studios, 69 one-bedroom units and one two-bedroom unit. Jacob Price and Katie LeGrand of Kiser brokered the sale, which closed at 100 percent of list price. A local owner-operator with an existing portfolio in the neighborhood was the buyer.

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Everly-Morrison-Ranch-Gilbert-AZ.jpg
ArizonaLoansMultifamilyWestern

PCCP Provides $51.8M Loan for Refinancing of Apartment Community in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the cash-neutral refinancing of Everly at Morrison Ranch, a apartment community located in Gilbert. Built in 2025, the Class A, garden-style community features 236 apartments that were 97 percent occupied at the time of financing. Everly at Morrison Ranch, located at 4353 E. Elliot Road, includes 36 two-story buildings with an average unit size of 986 square feet. The unit mix includes one-, two- and three-bedroom floor plans with interiors featuring stainless steel appliances, quartz countertops, smart home technology, nine-foot ceilings and plank-style flooring. Community amenities include a resort-style pool and spa, private workspaces, EV charging stations, tot lot and a dog park. Select floor plans include attached or detached garages with additional detached garages available for rent. The property is self-managed by P.B. Bell.

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Catalina-Tucson-AZ
ArizonaDevelopmentMultifamilyStudent HousingWestern

P3 Breaks Ground on 1,300-Bed Residence Hall Development at University of Arizona

by Amy Works

TUCSON, ARIZ. — A public-private partnership (P3) between the University of Arizona, Mortenson and Mortenson Development has broken ground on The Catalina, a 1,300-bed residence hall project on the institution’s campus in Tucson. The community is being developed utilizing tax-exempt financing through a partnership with the Collegiate Housing Foundation and RBC Capital Markets. The nine-story development will offer suite-style units alongside a dining hall upon completion, which is scheduled for fall 2028. Further details on the project were not released. 

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AcquisitionsCaliforniaMultifamilyWestern

JBT Property Management Sells 248-Unit Maroa Park Apartments in Fresno, California

by Amy Works

FRESNO, CALIF. — JBT Property Management has sold Maroa Park Apartments, a 248-unit multifamily property in Fresno, to a private buyer for $44 million. Located at 475-585 W. Sierra Ave., Maroa Park features one- and two-bedroom units with an average size of 878 square feet. Otto Ozen, Brian Nakamura and Nazli Santana of The Mogharebi Group (TMG) represented the seller in the deal.

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DevelopmentMultifamilyTexas

Rosewood Begins Leasing 359-Unit Multifamily Project in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based Rosewood Property Co. has begun leasing a 359-unit multifamily project in the Alamo Heights area of San Antonio that represents Phase III of a larger development known as Tobin Estates. In addition to the 265 apartments that will be housed in four-story wraparound buildings, Phase III features 94 units with private garages within two four-story buildings. Units come in one-, two- and three-bedroom floor plans, and amenities include a pool, indoor and outdoor fitness centers, resident lounge and a rooftop deck. Project partners included Provident General Contractors, WDG Architecture, civil engineer Westwood and construction lender InterBank. Construction began in May 2024. Information on starting rents was not disclosed.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Blue Heron Breaks Ground on 269-Unit Apartment Community in Raleigh

by John Nelson

RALEIGH, N.C. — Blue Heron Asset Management has broken ground on Rosewood, a 269-unit apartment development located at 611 W. South St. in Raleigh. The locally based developer acquired the site earlier this year for nearly $12.9 million. The design-build team includes architect Cline, which is also providing interior design and landscape architecture services, as well as general contractor W.M. Jordan Co., civil engineer Withers Ravenal, MEP engineer Lighthouse Engineering and structural engineer EM Structural. Upon completion, which is expected for 2028, Rosewood will comprise two buildings and a central public plaza. Units will range in size from 499 to 1,531 square feet and amenities will include a sauna, cold plunge, coworking areas, rooftop lounge, speakeasy and 5,500 square feet of retail space along South Street.

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FloridaLoansSoutheastStudent HousingUncategorized

JLL Secures $24M Refinancing for Student Housing Property Near University of Florida

by John Nelson

GAINESVILLE, FLA. — JLL Capital Markets has secured a $24 million refinancing for The Row, a 182-bed student housing property located at 407 S.W. 13th St. near the University of Florida campus in Gainesville. Melissa Rose, Mike Brady and Christian Johnston of JLL represented the borrower, The Ardent Cos., in arranging the three-year, floating-rate loan through GID. The seven-story community offers shared amenities including a resort-style deck and reflective pool, fitness center and collaborative and independent study areas on each floor. The property also features 4,315 square feet of ground-floor retail space.

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The-Bridgeline-Bronx
LoansMultifamilyNew YorkNortheast

Cushman & Wakefield Arranges $26.3M Loan for Refinancing of Bronx Apartment Building

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has arranged a $26.3 million loan for the refinancing of The Bridgeline, a 91-unit apartment building in The Bronx. The 12-story building was completed in 2018 and offers amenities such as a fitness center, a resident lounge and a rooftop terrace. Brad Domenico, Frank Stanislaski and Ethan Thompson of Cushman & Wakefield arranged the two-year, fixed-rate loan through Webster Bank on behalf of the borrower, JCAL Development.

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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 93-Unit Affordable Housing Community in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Lincoln Avenue Communities has selected McShane Construction Co. to build Timberline Terrace, a 93-unit affordable housing community in Madison. The podium-style building will feature five wood-framed stories atop a below-grade precast garage. Timberline Terrace will offer one-, two- and three-bedroom units with one to two bathrooms. Amenities will include a 4,000-square-foot plaza with a playground and grill stations, as well as a playroom, community room, lounge, community service space and fitness area. The development is designed to achieve Wisconsin Green Built Homes Gold Zero certification and will incorporate a solar array on the roof, high-efficiency heat pumps and upgraded performance windows. Completion is slated for fall 2027. Knothe & Bruce Architects is the architect, and The Sigma Group is the civil engineer.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Brokers $15M Sale of Multifamily Property in Wausau, Wisconsin

by Kristin Harlow

WAUSAU, WIS. — Marcus & Millichap has brokered the $15 million sale of The Apartments at Riverlife, a 75-unit multifamily property in central Wisconsin’s Wausau. Dan Bowar of Marcus & Millichap represented the seller, Riverlife Wausau LLC, and procured the buyer, a Wisconsin-based investor. Built in 2020, the property features a mix of one-, two- and three-bedroom units across 72,177 rentable square feet. The asset overlooks the Wisconsin River.

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