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Multifamily

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AcquisitionsMultifamilyOregonWestern

Fourth Avenue Capital Buys Ridgewood Apartments in Medford, Oregon for $22.1M

by Amy Works

MEDFORD, ORE. — Fourth Avenue Capital has acquired Ridgewood Apartments, a multifamily property located at 3141 Alameda St. in Medford, from Investors Capital Group for $22.1 million. Situated on 3.9 acres, the community features 96 two- and three-bedroom apartments spread across 13 residential buildings with a clubhouse, fitness center, an outdoor pool and private garages, as well as a standalone leasing office. The property was built in two phases between 2002 and 2004. Josh McDonald and Joe Nydahl of CBRE represented the seller and buyer in the transaction.

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DevelopmentIowaLoansMidwestMultifamily

HSF Originates $108M Construction Loan for Des Moines Apartment Tower

by Kristin Harlow

DES MOINES, IOWA — Dallas-based HALL Structured Finance (HSF) has provided a $108 million first lien construction loan for 515 Walnut Tower in downtown Des Moines. St. Joseph Group is the borrower and developer. Richard Price and Jackie Meagher of Berkadia arranged the loan.  The project will rise 33 stories with 390 apartment units. A central amenity “lodge” will offer fitness, coworking, lounge and entertainment areas, including a rooftop terrace with hot tubs and cooking space. The second floor will feature a 4,000-square-foot fitness center as well as sky walk connections to an adjacent parking garage.

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DevelopmentIllinoisMidwestMultifamily

Hines Breaks Ground on 306-Unit Apartment Complex in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Hines has broken ground on 1200 Diehl Road in the Chicago suburb of Naperville. The five-story apartment complex will include 306 units and 15,000 square feet of retail space. The development was partially funded through Hines U.S. Direct Investments. Units will range from studios to three-bedroom layouts. Amenities will include a pool deck, coworking lounge, clubroom, golf simulator, fitness center and walking path. Freedom Commons, a 160,000-square-foot shopping center, sits adjacent to the property. The submarket has received no new institutional multifamily supply since 2022, according to David Bach, senior managing director at Hines. PNC provided a $66 million construction loan for the development, according to Crain’s Chicago Business.

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Cortland-at-the-Hammocks-Miami
LoansMultifamilyTop Stories

Walker & Dunlop Provides $192M Agency Refinancing to Cortland for National Multifamily Portfolio

by Taylor Williams

ATLANTA — Walker & Dunlop (NYSE: WD) has provided a $192 million Freddie Mac loan for the refinancing of a national portfolio of four multifamily properties totaling 1,137 units. The borrower was Atlanta-based owner-operator Cortland. The portfolio consists of Cortland at the Hammocks I & II in Miami, which total 720 units, as well as the 224-unit Huntington Glen Apartments in Dallas and the 193-unit Cortland Congress Park in Denver. According to Apartments.com, Cortland at the Hammocks offers one-, two- and three-bedroom units that range in size from 552 to 1,488 square feet. Cortland Congress Park features similar floor plans as well as studio options. Huntington Glen has one- and two-bedroom units that range in size from 516 to 937 square feet. Stephen Farnsworth led the Walker & Dunlop team that originated the financing on behalf of Cortland, which previously executed capital improvement programs to unit interiors, building exteriors and amenity spaces at all three properties. “Since acquisition, Cortland has invested meaningfully in these communities, successfully executing its value-add strategy and repositioning the assets within their respective markets,” says Farnsworth. “Our continued partnership reflects a shared commitment to supporting mission-driven communities and delivering lasting value for residents and investors alike.” …

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Jefferson-Quail-Creek-Denton
Affordable HousingDevelopmentMultifamilyTexas

JPI Breaks Ground on $103M Workforce Housing Community in Denton

by Taylor Williams

DENTON, TEXAS — JPI has broken ground on Jefferson Quail Creek, a $103 million workforce housing project that will be located in the North Texas city of Denton. Jefferson Quail Creek will offer 415 units in one-, two- and three-bedroom floor plans. Rent restrictions were not disclosed. Amenities will include a pool, courtyard with grilling stations, beer garden with an outdoor kitchen, clubroom with a café, a resident lounge with TVs and gaming stations, an indoor-outdoor fitness center and yoga studio and an enclosed dog park. The first units are expected to be available for occupancy in mid-2027.

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Oro Ballantyne
DevelopmentMultifamilyNorth CarolinaSoutheast

Northwood Debuts 26-Story Oro Ballantyne Residential Tower in South Charlotte

by Abby Cox

CHARLOTTE, N.C. — Northwood has debuted Oro Ballantyne, a 356-unit luxury residential tower situated within The Bowl at Ballantyne mixed-use development in south Charlotte. Oro Ballantyne spans 26 floors with studio to three-bedroom apartment options, as well as townhome and penthouse layouts. Apartments range in size from 616 to 2,109 square feet. Monthly rental rates begin at $1,570. Amenities include the top-floor sky lounge, a hidden speakeasy called The Rhapsody Room, a golf and gaming simulator, resort-style swimming pool with cabanas, outdoor entertainment areas and coworking spaces. Northwood Office, in partnership with StreetLights Residential, developed the property. SK+I Architecture led the building’s design, while Samet Corp. served as the general contractor.

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The Stadler
DevelopmentFloridaMultifamilySoutheast

Thompson Thrift Opens 279-Unit Stadler Apartment Community in Bradenton, Florida

by Abby Cox

BRADENTON, FLA. — Thompson Thrift has recently hosted a ribbon cutting ceremony for The Stadler, a 279-unit luxury apartment complex located at 7120 Henry Drive in Bradenton. The Stadler offers one-, two- and three-bedroom apartments up to 1,445 square feet in size. Monthly rental rates range from $1,490 to $3,125, according to Apartments.com. Community amenities include a 24-hour fitness center, pickleball court, dog park with pet spa and grooming station, a covered sky deck and a lazy river-style swimming pool. The Stadler is situated on the southern border of the Lake Flores master-planned community, a mixed-use development that will encompass nearly 1,300 acres and feature 6,500 homes, 2 million square feet of retail, 1 million square feet of office space, 500 hotel rooms and a 19-acre man-made lake, upon completion.

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Anagram-Columbus-Circle-Manhattan
LoansMultifamilyNew YorkNortheast

Global Holdings Receives $190M Loan for Refinancing of Manhattan Apartment Tower

by Taylor Williams

NEW YORK CITY — Local investment and development firm Global Holdings has received a $190 million loan for the refinancing of Anagram Columbus Circle, a 26-story apartment tower located at 1 West 60th Street in Manhattan. The building houses 123 apartments in studio, one-, two-, three- and four-bedroom layouts as well as various resort-style amenities. J.P. Morgan and Sumitomo Mitsui Trust Bank provided the loan to Global Holdings. Christopher Peck, Peter Rotchford, Rob Hinckley, Nicco Lupo and Christopher Pratt of JLL arranged the debt.

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Quarry-Place-at-Tuckahoe
AcquisitionsMultifamilyNew YorkNortheast

JLL Brokers $63M Sale of Apartment Complex in Tuckahoe, New York

by Taylor Williams

TUCKAHOE, N.Y. — JLL has brokered the $63 million sale of Quarry Place at Tuckahoe, a 108-unit apartment complex located north of New York City in Westchester County. Built in 2016, the property features 61 one-bedroom apartments and 47 two-bedroom units with an average size of 977 square feet. Amenities include a fitness center with a yoga room and spin studio, clubroom with computer stations and a garden terrace with fire pit. Jose Cruz, Steve Simonelli and Austin Pierce of JLL represented the seller, Veris Residential, in the transaction. The buyer was Hines.

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DevelopmentMultifamilyNew JerseyNortheast

TFE Properties to Develop 141-Unit Apartment Complex in Burlington, New Jersey

by Taylor Williams

BURLINGTON, N.J. — Locally based firm TFE Properties will develop Spectrum Village, a 141-unit apartment complex in the Southern New Jersey community of Burlington. The site spans 13 acres, and the development will consist of four buildings that will house one-, two- and three-bedroom units. Amenities will include a dog park, fitness center, kids’ play area and an outdoor communal gathering area. Construction is expected to begin sometime in the next few months.

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