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Multifamily

DevelopmentGeorgiaMultifamilySoutheast

Greystar Opens 281-Unit NOMIA Apartment Community in Midtown Atlanta

by John Nelson

ATLANTA — Greystar has opened NOMIA, a 281-unit high-rise apartment community located in Midtown Atlanta. Amenities at the property, which features residences in studio, one-, two- and three-bedroom layouts, include vending service TULU, complimentary e-scooters through TULU Ride, coworking space, a spa room, rooftop swimming pool and a fitness studio. Additionally, the community will feature activations including wine tasting with Barcelona Wine Bar, instruction by Evolation Yoga Studio, boxing with Pepper Boxing Club, facials by Woodhouse Spa and rooftop spirits provided by Drop to the Rim Bartend. Monthly rental rates at NOMIA begin at $1,680, according to the community website.

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DevelopmentGeorgiaMultifamilySoutheast

Brook Farm Group, Emory Equity Break Ground on 388-Unit Multifamily Development in Metro Atlanta

by John Nelson

COVINGTON, GA. — Brook Farm Group and Emory Equity have broken ground on The Sinclair at Callaway Farm, a 388-unit multifamily project in Covington, roughly 35 miles southeast of Atlanta. Situated adjacent to the 180-acre Covington Town Center mixed-use development, the community will feature two distinct neighborhoods comprising 11 residential buildings and amenities. SilverCap Partners provided preferred equity for the project, with construction financing provided by First Horizon Bank and TrustMark Bank. Completion is expected by the end of 2025.

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AcquisitionsMultifamilyTexas

The Multifamily Group Arranges Sale of 128-Unit Complex in Temple, Texas

by Taylor Williams

TEMPLE, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Midtown Apartments, a 128-unit complex located in the Central Texas city of Temple. Built in 1971, the property offers one- and two-bedroom units with an average size of 872 square feet and amenities such as a pool, fitness center, basketball court, clubhouse and a picnic area. Paul Yazbeck of TMG represented the seller in the transaction, and Jon Krebbs of TMG procured the buyer. Both parties requested anonymity.

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AcquisitionsMultifamilyNew JerseyNortheast

Kislak Arranges $3M Sale of Riverbank Commons Apartments in Trenton

by Taylor Williams

TRENTON, N.J. — New Jersey-based brokerage firm The Kislak Co. Inc. has arranged the $3 million sale of Riverbank Commons, a 30-unit apartment complex in Trenton. The three-story building houses three efficiency apartments, 12 one-bedroom units and 15 two-bedroom units. Barry Waisbrod of Kislak represented the seller, River Bank Rentals LLC, in the transaction. The buyer was an entity doing business as NJ Mercer Investments Realty LLC.

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AcquisitionsAffordable HousingIllinoisMidwestMultifamilySeniors Housing

Standard Communities Acquires 214-Unit Senior Living Community in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Standard Communities has led a public-private partnership that acquired Huntington Towers in Mount Prospect for an undisclosed price. The transaction preserves affordability for the 214-unit senior living community for the next 30 years. The total capitalization of the transaction is approximately $74.9 million, including $16.1 million in planned renovations. Standard completed the acquisition in partnership with the Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development. Located at 551-571 W. Huntington Commons Road, Huntington Towers was built in 1978. Planned renovations include new flooring, kitchen cabinet hardware, countertops, ranges, refrigerators, microwaves and toilets. Light fixtures will be replaced, hallways will be painted and new carpet will be installed. New amenities will include a fitness center and business center. A new rooftop solar system will reduce the property’s carbon footprint by more than 215 tons of carbon dioxide per year. A resident services coordinator will be added to the staff.

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AcquisitionsArizonaMultifamilyWestern

Fore Property Co. Divests of 310-Unit Cuvee Multifamily Community in Glendale, Arizona for $86M

by Amy Works

GLENDALE, ARIZ. — Fore Property Co. has completed the sale of Cuvee, an apartment property located at 7200 N. 91st Ave. in Glendale. Pillar Communities acquired the Class A asset for $86 million. Completed in 2023, Cuvee features 310 apartments; two resort-style pools; a two-story, club-style fitness center; and a residential clubhouse with TV lounges, a game room, coffee bar and business center. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal.

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Bear-Valley-Park-Apts-Denver-CO
AcquisitionsColoradoMultifamilyWestern

MG Properties Buys Bear Valley Park Apartments in Denver for $76M

by Amy Works

DENVER — MG Properties has acquired Bear Valley Park Apartments, a garden-style community in Denver, from Jackson Square Properties for $76 million. Located at 5775 W. Dartmouth Ave., Bear Valley Park Apartments features one- and two-bedroom units with stainless steel appliances, islands and designer finishes. The pet-friendly community offers a heated pool, outdoor fire pit, 24-hour package lockers, private parking lot with available garages, resident lounge, fitness center and spa. Jordan Robbins and Alex Possick of JLL Capital Markets represented the seller in the transaction. Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice of JLL Capital Market arranged acquisition financing through Fannie Mae for MG Properties.

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The-Vickery-Fort-Worth
DevelopmentMultifamilyTexasWalker & Dunlop

Trademark to Develop 321-Unit Multifamily Project in Downtown Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Trademark Property Co. will develop The Vickery, a 321-unit multifamily project that will be located at the corner of Hemphill Street and West Vickery Boulevard in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge. Residential amenities will include a pool, rooftop lounge, coworking space and two dog parks. First United Bank provided a $61 million construction loan for the project that was arranged by Heather McClure and Jonathan Paine of Walker & Dunlop. Construction is set to begin early next year and to be complete in spring 2026.

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AcquisitionsGeorgiaMultifamilySoutheast

Goldrich Kest Purchases 14-Story Novel Midtown Apartment Tower in Atlanta

by John Nelson

ATLANTA — Southern California-based Goldrich Kest has purchased Novel Midtown, a 14-story apartment high-rise in Midtown Atlanta. The seller, Crescent Communities, delivered the 340-unit property in 2022. The Charlotte-based developer also recently delivered Novel West Midtown in Atlanta. The sales price for Novel Midtown was not disclosed. The property features studio, one-, two- and three-bedroom units, as well as a 3,000-square-foot fitness center, swimming pool, sky deck, outdoor kitchen, private conference rooms and coworking spaces, dog park with a pet spa and a Land of a Thousand Hills Coffee & Social on the ground level.

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Affordable HousingDevelopmentKentuckyMultifamilySeniors HousingSoutheast

Woda Cooper, Housing Services Alliance Open Affordable Seniors Housing Community in Walton, Kentucky

by John Nelson

WALTON, KY. — Affordable housing developer Woda Cooper Cos. Inc. and Housing Services Alliance have opened Haven Crossing, an affordable seniors housing community in Walton, approximately 20 miles south of Cincinnati. Haven Crossing is a three-story, elevator-served building that provides 33 one-bedroom units and 24 two-bedroom units. It is restricted to residents age 55 and over earning 30 percent to 80 percent of the area median income (AMI). Project partners included Kentucky Housing Corp., Boone County, City of Walton, Marble Cliff Capital and First Financial Bank. Primary financing for the $13.2 million property was supported through the allocation of Low-Income Housing Tax Credit (LIHTC) equity by Kentucky Housing Corp. Marble Cliff Capital invested in the tax credits to provide equity financing. First Financial Bank invested in the project via MCC, and provided the construction loan. Cedar Rapids Bank & Trust is providing permanent debt for the project. Other partners on the project included Grimm Architecture, Chadan Engineering Inc. and Woda Construction Inc. Woda Management & Real Estate will handle leasing and management.

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