PHILADELPHIA — Local brokerage firm Agent PHL has arranged the $8.4 million sale of Pelham Place, a 36-unit apartment building located in the Mount Airy neighborhood of northwest Philadelphia. The four-story building was completed in 2017 and offers four one-bedroom apartments, 27 two-bedroom units and five three-bedroom residences, as well as two retail spaces. Amenities include a fitness center and a lounge with a wet bar, TVs and games. Ryan McManus and Brandon Ribeiro of Agent PHL brokered the deal. The buyer and seller were not disclosed.
GLENDALE, ARIZ. — San Francisco-based Hamilton Zanze has completed the disposition of Tresa at Arrowhead, a multifamily community in Glendale. TerraCap Management acquired the asset for $82.1 million. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal. CBRE Debt & Structured arranged financing for the buyer. Completed in 1998, the low-density garden site plan features two-story buildings offering a total of 360 apartments. The gated community has 107 detached garages, three pool and spa areas, a large resident clubhouse and game room, a fitness center with cardio and weight training equipment, a dog park, barbecue and picnic areas and a dry sauna.
SANTA CRUZ, CALIF. — Lincoln Property Co. and Bridge Investment Group have completed RiverRow, an apartment property overlooking the San Lorenzo River in downtown Santa Cruz. Located at 414 Front St., RiverRow features 175 studio, one-, and two-bedroom apartments, including townhomes. Twenty units are designated as affordable. Community amenities include a fitness center, bike and surf storage/repair facilities, a resident lounge with coworking spaces, a pet-wash station and two roof decks with river and ocean views. Additionally, the property features outdoor seating overlooking the river and a designated food truck space, as well as below-grade and ground-floor parking. Totaling nearly 250,000 square feet, the three-building development also includes nine retail spaces. Project partners include BDE Architecture, Western National Builders, DCI Engineers, Emerald City Engineers and Poppy Bank. The property is managed by The REMM Group, a Southern California-based third-party management firm recently acquired by Lincoln.
CHICAGO — General contractor Skender and developer VISTA Property have topped out Pearl Fulton Market, a 32-story apartment tower in Chicago’s Fulton Market district. Located at 370 N. Morgan St. and designed by Antunovich Associates, the Class A luxury building will total 539,000 square feet with 494 units. Floor plans will range from studios to two bedrooms, with 99 affordable units. Amenities will include a 30th-floor deck, yoga terrace, fire pits, outdoor grill kitchens, a fitness center, coworking areas, private event rooms and a golf simulator. A four-story podium will house approximately 190 parking spaces, and the property will feature more than 4,500 square feet of ground-level retail space. Luxury Living is handling marketing and leasing, which is expected to begin in January 2027. First move-ins are anticipated in spring 2027.
ROSEVILLE, MICH. — Standard Communities has acquired The Meadows, a 124-unit multifamily property in Roseville, a suburb about 15 miles northeast of downtown Detroit. The transaction marks Standard’s second investment in Michigan. All of the units will be income-restricted and supported by project-based Section 8 Housing Assistance Payment (HAP) contracts. Of the 124 units, 111 are restricted to households earning at or below 60 percent of the area median income (AMI) and 13 are restricted to those earning up to 40 percent AMI. Affordability has been extended through a 20-year Section 8 renewal via a HAP assignment and assumption and mark-up-to-market structure. The property consists of 21 residential buildings along with a leasing and community building. Financing for the acquisition was completed in partnership with the Michigan State Housing Development Authority, which served as tax credit allocator and bond issuer. The City of Roseville provided a new Payment in Lieu of Taxes agreement, and the U.S. Department of Housing and Urban Development approved the contract renewal. Standard will complete a comprehensive tenant-in-place renovation totaling approximately $10.5 million. Units will be updated with quartz countertops, stainless steel appliances, luxury vinyl plank flooring, refreshed bathrooms and upgraded lighting. The community building will …
VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention …
NEW YORK CITY — A partnership between Ailanthus, BEB Capital and SK Development has begun leasing One Sunset, a 187-unit multifamily project in Brooklyn’s Sunset Park neighborhood. Designed by dencityworks | architecture with interiors by Alchemy Studio, the 14-story building offers one-, two- and three-bedroom floor plans, with 46 units reserved as affordable housing. Amenities include a fitness center, game/media room, coworking lounge, private dining/entertainment areas and a rooftop terrace. Corcoran New Development is leading the residential leasing efforts. Rents start at roughly $3,200 per month for a one-bedroom apartment.
SEATTLE — Cushman & Wakefield has facilitated the disposition of Roy Vue Apartments, a historic 34-unit multifamily property in Seattle’s Capitol Hill neighborhood. The asset traded for $11.5 million. Dylan Roeter, Tim McKay, Dan Chhan, Matt Kemper, Jacob Odegard and Byron Rosen of Cushman & Wakefield represented the undisclosed seller in the transaction. Totaling 34,059 net rentable square feet, Roy Vue Apartments features 30 one-bedroom/one-bath units and four two-bedroom/one-bath units, with an average unit size of more than 1,000 square feet and nine-foot ceilings. Community amenities include private landscaped courtyards, 19 individual garages and updated building systems. The property is located at 615 Bellevue Ave. E.
TUCSON, ARIZ. — Marcus & Millichap has negotiated the sale of Copper Creek, a 99-unit multifamily property in Tucson. A limited liability company sold the asset to a limited liability company for $11.1 million, or $111,869 per unit. Clint Wadlund and Hamid Panahi of Marcus & Millichap represented the seller and procured the buyer in the deal. Built in 1973, Copper Creek offers 99 one-, two- and three-bedroom apartments in traditional and townhome-style options. Units feature fully equipped kitchens with frost-free refrigerators, stoves and dishwashers; ample closet space; windows with sunscreens; wood-style vinyl plank flooring in living areas; ceramic tile in wet areas; and carpet in bedrooms. Select units include a yard, washers/dryers and/or washer/dryer connections. Community amenities include a swimming pool, fully equipped fitness center, basketball courts, clubhouse with a Wi-Fi business center, playground, barbecue areas and laundry facilities.
HUNTERSVILLE, N.C. — Woodfield Development has completed Merritt Apartments, a 354-unit multifamily community located in Huntersville, about 12 miles north of Charlotte. Situated on roughly 23 acres at 13111 Tadeo Drive, Merritt Apartments offers a mix of studio, one-, two- and three-bedroom floorplans that range in size from 758 to 1,813 square feet. Monthly rental rates begin at $1,466. Amenities include a fitness center with a yoga studio, coworking and lounge spaces, private dining areas, an entertainment courtyard with a putting green and amphitheater-style seating, resort-style swimming pool and cabanas, electric vehicle charging stations, a dog park, pet spa and direct access to nearby green spaces. Select residences also feature private fenced yards, mudroom-style entries, built-in shower benches, smart thermostats and controlled-access entry. The project team included Fosselman Construction (general contractor), Housing Studio (architect) and Shelton Taylor Associates (interior design).