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Multifamily

Millyard-at-Meadow-Commons-Newinngton-Connecticut
AcquisitionsConnecticutMultifamilyNortheast

IPA Brokers Sale of 269-Unit Apartment Complex in Newington, Connecticut

by Taylor Williams

NEWINGTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Millyard at Meadow Commons, a 269-unit apartment complex in Newington, a southern suburb of Hartford. Built in 2025, the property features studio, one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling and dining stations, resident lounge and a game room. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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DevelopmentLoansMidwestMultifamilyOfficeWisconsin

Dwight Capital Provides $114M HUD-Insured Loan for Office-to-Apartment Conversion in Milwaukee

by Kristin Harlow

MILWAUKEE — Dwight Capital has provided a $114 million HUD 221(d)(4) substantial rehabilitation loan for the conversion of 100 East Wisconsin, a 34-story office building in Milwaukee, into a 373-unit luxury apartment community. Positioned at the heart of the city’s central business district along the Milwaukee River, 100 East Wisconsin is currently the state’s third-tallest building and will become the tallest residential building upon completion, according to Dwight. Units will come in studio, one-, two- and three-bedroom layouts. Amenities will include a fitness center, yoga studio, spa, coworking space, conference room, pet lounge, bike storage, multiple lounge and bar areas, a game room with a sports simulator and a rooftop deck with swimming pool. At 35 years old, 100 East Wisconsin is among the newest buildings ever added to the National Register of Historic Places, having been designated in January 2025 in recognition of its architectural and historic significance. The distinction qualified the project for federal and state historic tax credits. The City of Milwaukee further supported the project with a tax-increment financing package of up to $16.6 million through a newly established tax-increment district. The HUD loan was the largest multifamily HUD loan ever closed in Wisconsin; the largest …

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LoansMultifamilyNew YorkNortheast

Black Bear Capital Arranges $39M Loan for Refinancing of Long Island Apartment Complex

by Taylor Williams

CENTRAL ISLIP, N.Y. — Black Bear Capital Partners (BBCP) has arranged a $39 million loan for the refinancing of Villas at Eastview, a 100-unit apartment complex located in the Long Island community of Central Islip. The property consists of 11 buildings on an 8.6-acre site. Units exclusively come in two-bedroom floor plans and have an average size of 1,295 square feet. Emil DePasquale and Robert Serra of BBCP arranged the loan, which carries a seven-year term, fixed interest rate and a 60 percent loan-to-value ratio, through New York Life Insurance on behalf of the owner, The Crest Group.

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AcquisitionsMultifamilyNew JerseyNortheast

ICON Real Estate Negotiates $7.9M Sale of Northern New Jersey Apartment Building

by Taylor Williams

EAST ORANGE, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $7.9 million sale of a 58-unit apartment building in the Northern New Jersey community of East Orange. The two-story building at 223 Prospect St. was constructed in 1947 and exclusively offers two-bedroom units, according to Apartments.com. David Jarvis and David Oropeza of ICON brokered the deal on behalf of the buyer and seller, both of which were limited liability companies.

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The-Amara-Queens
LoansMultifamilyNew YorkNortheast

Dwight Capital Provides $54M HUD-Insured Loan for Refinancing of Queens Apartment Building

by Taylor Williams

NEW YORK CITY — New York City-based Dwight Capital has provided a $54 million HUD-insured loan for the refinancing of The Amara, a 92-unit apartment building located in the Astoria neighborhood of Queens. Completed in 2024, the six-story building houses studio, one-, and two-bedroom units in addition to 13,790 square feet of ground-floor retail space that is leased to Spear Physical Therapy, restaurant The French Workshop, pizzeria Freddy’s Since 1961 and food hall Wonder Astoria. Keith Hoffman and Jack Tawil of Dwight originated the loan through HUD’s 223(f) program on behalf of the locally based borrower, Tsilo Group.

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FloridaLoansMultifamilySoutheast

Madison Realty Capital Originates $91.8M Construction Loan for Multifamily Project in South Miami

by Abby Cox

SOUTH MIAMI, FLA. — Madison Realty Capital has originated a $91.8 million construction loan for the development of Alta Sunset, a 314-unit apartment complex located in South Miami. Henry Bodek of Galaxy Capital arranged the financing on behalf of the borrower, Alta Developers. Situated adjacent to Larkin Community Hospital and Baptist Health South Florida, Alta Sunset will rise 10 stories and feature one- and two-bedroom apartments. Amenities at the property will include a health and wellness club, swimming pool and deck, fitness center, dedicated spa and recovery area, coworking spaces with private offices and a resident lounge, along with 5,444 square feet of ground-floor retail space.

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AcquisitionsAffordable HousingGeorgiaSeniors HousingSoutheast

Dominium Acquires Affordable Seniors Housing Community in Duluth, Georgia, Plans $9.9M Renovation

by Abby Cox

DULUTH, GA. — Dominium has acquired Sweetwater Terraces, a 165-unit affordable seniors housing community located in Duluth, a northeast suburb of Atlanta. The property was originally developed in 2008 under the Low-Income Housing Tax Credit (LIHTC) program. Dominium has planned a $9.9 million renovation of the property to include updates to roofing, siding and unit interiors, as well as the clubhouse and amenity spaces. The Plymouth, Minn.-based affordable housing developer and investor plans to preserve the affordability status of Sweetwater Terraces during its ownership period. The four-story residential community comprises studio, one-, two- and three-bedroom apartments ranging in size from 496 to 1,158 square feet, according to Apartments.com. Amenities include a community garden, fitness center, salon and shuffleboard courts.

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Domain-3201-Tucson-AZ
AcquisitionsArizonaMultifamilyWestern

Bascom Arizona Ventures Buys Multifamily Community in Tucson for $45.5M

by Amy Works

TUCSON, ARIZ. — Bascom Arizona Ventures, a subsidiary of Irvine, Calif.-based The Bascom Group, has acquired Domain 3201, an apartment property in Tucson, from an undisclosed seller for $45.5 million, or $157,439 per unit, in an off-market transaction. Arizona-based Bryten Real Estate Partners will manage the asset. BrightSpire Capital Acquisitions provided acquisition financing, which was arranged by Brian Eisendrath, Cameron Chalfant, Ben Margolis and Jesse Zarouk of Institutional Property Advisors (IPA), a division of Marcus & Millichap. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of IPA advised the buyer and seller in the deal. Constructed in two phases in 1985 and 1990, Domain 3201 features 289 one-, two- and three-bedroom floor plans, three swimming pools, two spas, open green spaces, a fitness center, yoga studio, clubhouse, business center and two pickleball courts. The new ownership is planning a capital improvement program to refresh the clubhouse and leasing office spaces, enhance the pool, spa and fitness areas and upgrade residences.

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DevelopmentMidwestMissouriMultifamilyRetail

Construction Begins on Second Phase of Luxury Apartment Project in Blue Springs, Missouri

by Kristin Harlow

BLUE SPRINGS, MO. — A second phase of Blue Springs’ first luxury apartment community, MajorLux Luxury Apartments, is slated to include 123 units and 11,732 square feet of first-floor retail space anchored by Costenio’s Price Chopper. Bill Maas and Daniel Brocato of Block & Co. Inc. Realtors are handling leasing of the retail spaces. According to Block & Co., ideal uses at MajorLux Two include full-service restaurant concepts, Yoga or Pilates studios and service tenants such as dry cleaners, salons and health users. Completion of the project is slated for summer 2027.

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Jefferson-Grandscape-II-The-Colony
DevelopmentMultifamilyTexas

JPI Begins Construction on 277-Unit Multifamily Project in The Colony, Texas

by Taylor Williams

THE COLONY, TEXAS — JPI has begun construction on Jefferson Grandscape II, a 277-unit multifamily project that will be located north of Dallas in The Colony. Valued at $77.8 million and located within the 433-acre mixed-use development of the same name, Jefferson Grandscape II will be a five-story building with 11 studios, 172 one-bedroom apartments, 86 two-bedroom units and eight three-bedroom residences. Amenities will include a pool, sky lounge and outdoor courtyards with fire pits. QuadReal Property Group is financing construction of the project in conjunction with Nebraska Furniture Mart, which owns Grandscape. The first units are expected to be available for occupancy by early 2028.

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