Multifamily

CEDARst Cos. Breaks Ground on $106M Bancroft Lofts in San Diego

by Amy Works November 14, 2025

SAN DIEGO — CEDARst Cos. has broken ground on Bancroft Lofts, a $106 million multifamily development located at 3760 Bancroft St. in San Diego’s North Park neighborhood. Slated for completion by December 2027, the 255,000-square-foot project will deliver 218 residences. Designed by JWDA Architects and built by KPRS, the eight-story property will feature 76 studios, 121 one-bedroom and 21 two-bedroom units, including 16 income-restricted units. Onsite amenities will include 189 parking stalls, a resort-style pool with a TV wall, a hot tub, fitness center, resident lounge, grilling stations, a movie theater, golf simulator and dedicated coworking and remote-work space. Bancroft Lofts is being developed in partnership with Quartz Lake Capital under a programmatic joint venture. Pacific Life is the construction lender, and a publicly traded insurance firm is providing common equity. Chris Collins and Zach Kersten of JLL Capital Markets arranged the project financing.

November 14, 2025

Acquisitions California Multifamily Seniors Housing Western

Azure Partners Acquires 148-Unit Seniors Housing Community in San Diego

by Amy Works November 14, 2025

SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego. Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure. “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in the sector,” says Arthur Rosenberg, CEO of Azure. Northstar Senior Living will continue to manage the property.

November 14, 2025

Illinois Loans Midwest Multifamily

BBCP Secures $38M Loan for Refinancing of Multifamily Portfolio in Morton, Illinois

by Kristin Harlow November 14, 2025

MORTON, ILL. — Black Bear Capital Partners (BBCP) has arranged a $38 million loan for the refinancing of a three-property multifamily portfolio totaling 236 units in Morton near Peoria. Ethos Build was the borrower. PGIM provided the five-year, fixed-rate loan, which features interest-only payments for three years, a 30-year amortization schedule and a 65 percent loan-to-value ratio. The properties, located at 1950 S. Second Ave., 651 Harding Road and 661 Harding Road, are 97 percent occupied and feature a mix of two- and three-bedroom units. All residents have access to a 4,000-square-foot clubhouse with work stations, a self-serve café, lounge, game area, outdoor porch and fire pits.

November 14, 2025

California Development Multifamily Seniors Housing Western

CCI to Develop 236-Unit Senior Living Community in Southern California

by Amy Works November 13, 2025

WOODLAND HILLS, CALIF. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles. Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community. Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms. Construction is scheduled to begin in the second quarter of 2026, with a grand opening planned for the second half of 2028. The project team includes architect Perkins Eastman and engineer KPFF. Envicom is handling environmental and land planning, and Carlberg Associates and Brenner Consulting Group are responsible for horticulture and permit administration, respectively.

November 13, 2025

Acquisitions Arizona Multifamily Western

Northmarq Brokers $32M Sale of Ventura Villas Multifamily Property in Tucson

by Amy Works November 13, 2025

TUCSON, ARIZ. — Pacific Transwest — Nevada has acquired Ventura Villas in Tucson for $32 million. The seller was a limited liability company doing business as RDM Tucson. Northmarq arranged the sale and represented the seller. Built in 1989, Ventura Villas features one- and two-bedroom units averaging 606 square feet. The community features a resort-style pool, basketball court, playground and laundry facilities. Northmarq’s Phoenix-based multifamily investment sales team was led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca. Ventura Villas is located at 6200 S. Campbell Ave.

November 13, 2025

Acquisitions Midwest Missouri Multifamily Student Housing

Vesper Holdings Acquires 522-Bed Student Housing Community Near University of Missouri

by Kristin Harlow November 13, 2025

COLUMBIA, MO. — Vesper Holdings has acquired The Den, a 522-bed student housing community located near the University of Missouri campus in Columbia. Vesper acquired the property in partnership with an undisclosed institutional investor. Built in 2014, the four-story community offers fully furnished units in two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, fitness center, clubhouse, game room, computer room, dog park, hammock garden, basketball courts, study rooms, fire pits and an outdoor kitchen and grilling area.

November 13, 2025

Acquisitions Illinois Midwest Multifamily

Interra Realty Arranges $12.2M Sale of Multifamily Property in Metro Chicago

by Kristin Harlow November 13, 2025

ELMWOOD PARK, ILL. — Interra Realty has arranged the $12.2 million sale of Harlem Towers, a two-tower multifamily property with 83 units in the Chicago suburb of Elmwood Park. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the buyer, Pabcor Management, and the seller, Neder Capital Services. Yaryna Makarchuk served as the seller’s representative throughout the transaction. Located at 2300-2310 N. Harlem Ave., the property includes 27 one-bedroom units, 55 two-bedroom residences and one three-bedroom apartment. In addition to some unit renovations, recent capital improvements include upgraded elevators, common area refurbishments and new fire alarm and elevator monitoring systems. The asset was built in 1975 and features two eight-story towers. Harlem Towers will be rebranded as The American Elm after the elm trees that inspired Elmwood Park’s name.

November 13, 2025

Development Multifamily New Jersey Northeast

Value Cos. Completes Lease-Up of 24-Unit Apartment Complex in Clifton, New Jersey

by Taylor Williams November 13, 2025

CLIFTON, N.J. — Value Cos. has completed the lease-up of Phase II of The Point at Gateways in the Northern New Jersey community of Clifton. Located within the Gateways at Randolph development, the 24 Phase II apartments come exclusively in two-bedroom formats. Amenities at The Point at Gateways include a pool, fitness center, playground, outdoor grilling and dining stations and an event space with a catering kitchen, children’s playroom, video gaming lounge, workstations, billiards and TVs.

November 13, 2025

Development Multifamily North Carolina Southeast

Swinerton, Space Craft Top Out $111M Multifamily Development in Charlotte

by John Nelson November 13, 2025

CHARLOTTE, N.C. — Swinerton, working on behalf of developer Space Craft, has topped out Cordo, a $111 million multifamily development located at 512 E. 21st St. in Charlotte’s Optimist Park neighborhood. The development, the fifth between Swinerton and Space Craft, will feature 287 studio, one-, two-, three- and four-bedroom units, as well as a rooftop terrace, resident lounge/game room with a full kitchen, meeting and coworking spaces, outdoor courtyard and fitness and wellness areas. Designed by Charlotte-based architecture firm Shook Kelley, the project will feature cross-laminated timber (CLT) decks, which will create exposed timber ceilings. Timberlab, sister company of Swinerton, prefabricated approximately 50,000 linear feet of wood wall framing and 185,000 square feet of CLT using pine, spruce and fir in its Greenville, S.C., facility for the development. The project team broke ground on Cordo last fall and expects to deliver the community by summer 2027.

November 13, 2025

Affordable Housing California Development Multifamily Student Housing Western

San Diego Community College District, Michaels Break Ground on 787-Bed Affordable Student Housing Community

by Amy Works November 12, 2025

SAN DIEGO — A partnership between the San Diego Community College District (SDCCD) and The Michaels Organization has broken ground on a 787-bed student housing development at 1601 B St. in downtown San Diego. The seven-story community, designed by TCA Architects, will offer 283 affordably priced units. Shared amenities are set to include study lounges, tutoring spaces, a mental health and wellness center, outdoor courtyards, shared kitchens, a basic needs food pantry and a rooftop lounge. The community will be the first development by the SDCCD and is scheduled for completion in fall 2028.

November 12, 2025

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