Wednesday, December 24, 2025
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Multifamily

IowaLoansMidwestMultifamily

MMCC Secures $7.6M in Financing for Multifamily Property in Burlington, Iowa

by Kristin Harlow

BURLINGTON, IOWA — Marcus & Millichap Capital Corp. (MMCC) has secured $7.6 million in financing for Urbane 424, a 52-unit multifamily property in Burlington, a city in eastern Iowa. The five-story property at 424 N. 3rd St. is situated near the Great River Bridge with views of the Mississippi Riverfront. The asset features a mix of studio, one- and two-bedroom units along with 3,000 square feet of first-floor retail space. Amenities include a rooftop terrace, bike storage and lounge. Robert Bhat of MMCC arranged the financing with a national bank on behalf of a private client. The nonrecourse loan features a five-year term with interest-only payments for the full term and a 70 percent loan-to-value ratio.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $20.5M Sale of Metro Boston Multifamily Property

by Taylor Williams

ARLINGTON, MASS. — Marcus & Millichap has brokered the $20.5 million sale of Mystic Grove Apartments, a 60-unit multifamily complex located on the northwestern outskirts of Boston. Built in phases between 1925 and 1963, Mystic Grove offers studio, one-, two- and four-bedroom apartments, as well as a fitness center and onsite laundry facilities. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Affordable HousingDevelopmentLoansMultifamilyNew YorkNortheastOfficeTop Stories

Walker & Dunlop Arranges $867M Financing Package for Office-to-Residential Conversion Project in Lower Manhattan

by John Nelson

NEW YORK CITY — Walker & Dunlop Inc. has arranged an $867 million financing package for 111 Wall Street, a 24-story, waterfront office building in Lower Manhattan’s Financial District. The development team, led by borrower InterVest capital partners, a global alternative investment manager based in New York City, plans to convert the fully vacant office building into a 30-story luxury apartment building housing 1,568 rental units. Approximately 25 percent of the units will be designated as affordable housing for residents earning an average of 80 percent of the area median income (AMI), qualifying the project for New York City’s Affordable Housing Conversion Program. Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged a $778.6 million construction loan through Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital. The closing of this financing marks the largest single-building office-to-residential conversion loan in New York City history as well as the country, according to Walker & Dunlop. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization, bringing the total financing package to $867 million. “With office vacancies …

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alta-beacon
DevelopmentMultifamilySoutheastTennessee

Wood Partners to Break Ground on 328-Unit Alta Beacon Apartment Community in Nashville

by Abby Cox

NASHVILLE, TENN. — Wood Partners is set to break ground on Alta Beacon, a 328-unit apartment complex located in Nashville. Construction will begin next month, with the first units scheduled for delivery in the second quarter of 2026. Situated on the edge of the city’s Wedgewood-Houston neighborhood, the wrap-style community will feature a mix of studio, one- and two-bedroom floorplans and will span five stories. Amenities at Alta Beacon will include a clubhouse, fitness center, resort-style swimming pool, indoor sky deck with a large exterior deck, dog yards, pet spa and gate-protected structured parking.

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TenTen-Campus-Glendale-CA
CaliforniaLoansMultifamilyWestern

JLL Arranges $125M Refinancing for Apartment Complex in Glendale, California

by Amy Works

GLENDALE, CALIF. — JLL Capital Markets has arranged a $125 million loan from Oaktree Capital Management for The Amidi Group’s TenTen Campus in Glendale. The loan enables The Amidi Group to retire existing construction debt on the eight-story, newly developed property. Residents began moving in February 2025. The property was 95 percent occupied at the time of the transaction’s closing. Spanning 220,018 square feet, the community’s 228 units are offered as studios, one- and two-bedroom apartments. Amenities include a resort-style pool and hot tub, a rooftop terrace with skyline views, fitness center with steam room and sauna, a business center and approximately 5,200 square feet of ground-floor retail space. Units feature floor-to-ceiling windows, stainless-steel appliances, in-unit washers and dryers, quartz countertops and personal balconies in select units.

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Bucking-Horse-Apts-Fort-Collins-CO
AcquisitionsColoradoMultifamilyWestern

The Milestone Group Buys 322-Unit Bucking Horse Apartments in Fort Collins, Colorado

by Amy Works

FORT COLLINS, COLO. — Equus Capital Partners has sold Bucking Horse Apartments in Fort Collins to The Milestone Group for an undisclosed amount. Newmark arranged the sale as well as acquisition financing. Bucking Horse Apartments offers 322 units in one-, two- and three-bedroom layouts as well as 18 townhomes with attached garages. Apartments feature open-concept layouts, private balconies or patios with exterior storage closets and kitchens equipped with stainless-steel appliances and islands. Amenities are anchored by The Ranch House clubhouse, which includes a private movie theater, resident lounge space, a resort-style pool and year-round hot tub, a 24-hour fitness center and community garden beds. The property, developed in 2018, is located within the Bucking Horse master-planned community.

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DevelopmentMichiganMidwestMultifamilyStudent Housing

Landmark, Manulife Break Ground on 259-Bed Student Housing Community in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — Landmark Properties and Manulife Investment Management have broken ground on The Metropolitan on South U, a 259-bed student housing community located adjacent to the University of Michigan campus in Ann Arbor. The project marks the sixth in a build-to-core joint venture executed with the Manulife Infrastructure Fund pool. Landmark Construction is building the project, with Myefski Architects as the architect. Peninsula Investments also partnered on the development. Located at 1208 S. University Ave., The Metropolitan on South U will feature fully furnished residences. Amenities will include a clubhouse, fitness center, resort-style pool and rooftop lounge. There will be roughly 5,000 square feet of ground-floor retail space.

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AcquisitionsIndianaMidwestMultifamily

Cushman & Wakefield Brokers 312-Unit Multifamily Portfolio in Southern Indiana

by Kristin Harlow

SELLERSBURG AND JEFFERSONVILLE, IND. — Cushman & Wakefield | Commercial Kentucky has brokered the sale of the Southern Indiana 3 Portfolio for an undisclosed price. The portfolio includes three workforce multifamily communities totaling 312 units. The assets include Ashby Apartments and Lakeview Apartments in Sellersburg and Carrington Place Apartments in Jeffersonville. All three communities are located within a 12-minute drive of downtown Louisville. Craig Collins, Austin English, Mike Kemether and James Wilbur of Cushman & Wakefield represented the seller, Salt Lake City-based Shamrock Communities. The buyer was The Clear Blue Co., a Nashville-based real estate firm.

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AcquisitionsIndianaMidwestMultifamilySeniors Housing

JLL Arranges Sale of 172-Unit Luxury Active Adult Community in Noblesville, Indiana

by Kristin Harlow

NOBLESVILLE, IND. — JLL Capital Markets has arranged the sale of Outlook Hamilton, a 172-unit luxury active adult community in Noblesville. Delivered in 2023, the property is situated adjacent to Hamilton Town Center and features one- and two-bedroom floor plans. Amenities include a fitness center, sports lounge, theater, great room, courtyard, community garden, dog park and detached garages for rent. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Sam Dylag, Tim Hosmer and Sandis Seale of JLL represented the seller, Capitol Seniors Housing. The team partnered with JLL’s Amanda Friant, Jenny Hull, Holly Hunt, Ken Martin and Nelson Almond. Middle Street Partners and its limited partner, Parse Capital, purchased the asset.

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DevelopmentMassachusettsMultifamilyNortheast

Stonegate Group Delivers 46-Unit Multifamily Project in Natick, Massachusetts

by Taylor Williams

NATICK, MASS. — Local developer Stonegate Group has delivered a 46-unit multifamily project in Natick, a western suburb of Boston. In addition to the apartments, which come in one-, two- and three-bedroom floor plans, the four-story building features four for-sale duplexes and 12,000 square feet of retail space. Finegold Alexander Architects designed the project, and Nauset Construction served as the general contractor. Rents start at $3,200 per month for a one-bedroom, market-rate apartment.

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