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Multifamily

DevelopmentSouth CarolinaSoutheastStudent Housing

Henderson Park, Landmark to Develop 335-Bed Student Housing Project Near College of Charleston

by John Nelson

CHARLESTON, S.C. — Locally based private equity real estate management firm Henderson Park and Athens, Ga.-based developer giant Landmark Properties plan to develop The Mark Charleston, a 335-bed student housing development situated near the College of Charleston. The companies recently acquired the 1.2-acre site at 500 E. Bay St., which is situated on the east side of the peninsula and within a half-mile from the college’s Harbor Walk campus. The design-build team includes affiliate general contractor Landmark Construction and architect GreenbergFarrow. The six-story building will comprise 99 apartments and is expected to deliver in time for the College of Charleston’s 2027-2028 academic year. The Mark Charleston will feature the adaptive reuse of the historic Blanken Matson House on the site that will be relocated and overhauled into a 1,200-square-foot study space known as “The Library.” The development will also include 1,200 square feet of ground-floor retail space and 18,000 square feet of amenities, including a clubhouse and three rooftop decks with a pool deck that provides views of the Charleston Harbor and Ravenel Bridge, as well as a grilling area, lounge and outdoor recreation areas. Other amenities will include an 1,800-square-foot fitness center, computer lab, study areas and 140 total …

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AcquisitionsSouth CarolinaSoutheastStudent Housing

TSB Realty Arranges Sale of 330-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — TSB Realty has arranged the sale of Columbia Lofts, a 330-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Nimes Real Estate purchased the property from an undisclosed seller. TSB Capital Advisors secured acquisition financing for the transaction, terms of which were not released. Originally built in 1895 as Richland Cotton Mill, the property was converted into apartments in 1984 and renovated in 2012. The community offers 170 units in one-, two-, three- and four-bedroom configurations. Shared amenities include a resort-style pool, barbecue and picnic area, study room, resident lounge and covered bicycle storage. Columbia Lofts was fully occupied at the time of sale.

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District of ColumbiaHealthcareHospitalityIndustrialLoansMultifamilyOfficeRetailSoutheast

MBA: Commercial, Multifamily Loan Originations Increased 36 Percent in Third Quarter from 2024

by John Nelson

WASHINGTON, D.C. — The volume for commercial and multifamily mortgage loan originations closed in the third quarter of 2025 was 36 percent higher compared to a year earlier, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations report. The third-quarter production also represents an 18 percent increase from the previous quarter. The MBA reports that loan originations have now risen for five consecutive quarters on both a quarterly and annual basis. Among property types, there was an 181 percent year-over-year increase in the dollar volume of loans for office properties, 100 percent increase for retail properties, 66 percent increase for hotels, 27 percent increase for multifamily properties and a 5 percent increase for industrial properties. Originations for healthcare properties decreased 43 percent compared to the third quarter of 2024. “While some sectors, such as healthcare and industrial, saw slower activity, overall volumes reflected improving sentiment as property values stabilized and loans reaching maturity were refinanced,” says Reggie Booker, MBA’s associate vice president of commercial/multifamily research. Among capital sources, there was a 52 percent year-over-year increase in loans by depositories lenders (i.e. banks), 40 percent increase in loans by government sponsored enterprises (Fannie Mae and Freddie Mac) …

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The-Retreat-at-Westerly-State-College
DevelopmentMultifamilyNortheastPennsylvaniaStudent Housing

Landmark, Golden Primera to Develop 546-Bed Student Housing Community Near Penn State University

by Taylor Williams

STATE COLLEGE, PA. — A joint venture between Georgia-based Landmark Properties and Golden Primera will develop a 546-bed student housing community near the Penn State University campus in State College. The 11.2-acre site is located at 418-428 Westerly Parkway, and the cottage-style property will be known as The Retreat at Westerly. The community will offer 142 units in two- and five-bedroom configurations with bed-to-bath parity. The property will also feature a 10,500-square-foot amenity area with a pool, pickleball court, sauna, cold plunge, jumbotron, fitness center, multi-sport simulator, study lounges, grilling and fire pit areas and additional green space for outdoor recreation. A construction timeline was not announced.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

MassDevelopment Provides $21.4M in Bond Financing for Worcester Affordable Housing Complex

by Taylor Williams

WORCESTER, MASS. — MassDevelopment has provided $21.4 million in tax-exempt bond financing for a 73-unit, 16-building affordable housing complex in Worcester. The owner, Worcester Common Ground, will use proceeds to renovate the complex, which houses units that are reserved for renters earning between 30 and 60 percent of the area median income, and preserve its affordability status. Improvements will include the replacement and upgrading of electrical, mechanical and plumbing systems, as well as the renovation of kitchens and bathrooms. Roofs will also be replaced, and four fully accessible units will also be created. Construction is underway and is expected to be complete in spring 2027.

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The-Noc-Frisco
DevelopmentMultifamilyTexas

Wilks Development Underway on 187-Unit Multifamily Project at Firefly Park in Frisco

by Taylor Williams

FRISCO, TEXAS — Wilks Development, the master developer behind the 217-acre Firefly Park mixed-use development in Frisco, is underway on construction of The Noc, a 187-unit multifamily project. Designed by Hord | Coplan | Macht, The Noc will offer studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking and conference spaces, a dog spa and a resident lounge with golf simulators. Andres Construction is the general contractor for the project, construction of which is being financed through a HUD-insured loan that was originated by San Antonio-based Mason Joseph Co. Vertical construction began in late September, and completion is slated for fall 2027.

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The-Morgan-at-Provost-Square-Jersey-City
AcquisitionsMultifamilyNew JerseyNortheast

JLL Negotiates Sale of 417-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — JLL has negotiated the sale of The Morgan at Provost Square, a 417-unit apartment building in Jersey City. Built in 2016, the 38-story building houses studio, one-, two- and three-bedroom units with an average size of 876 square feet, as well as penthouses on the top two floors. The Morgan at Provost Square also features approximately 12,700 square feet of retail space and a seven-story parking garage with 372 covered spaces. Amenities include a rooftop pool, fitness center, a sky lounge with a private conference room, an outdoor courtyard, pet spa and multiple coworking spaces. Jose Cruz, Michael Oliver, Steve Simonelli, Ryan Robertson, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, a joint venture that included Toll Brothers Apartment Living, in the transaction. JLL also advised the buyer, private equity real estate firm Rockpoint.

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The-Overlook-Camp-Hill-Pennsylvania
AcquisitionsMultifamilyNortheastPennsylvania

Berkadia Arranges Sale of 288-Unit Overlook Apartments in Camp Hill, Pennsylvania

by Taylor Williams

CAMP HILL, PA. — Berkadia has arranged the sale of The Overlook, a 288-unit apartment community located outside of Harrisburg in Camp Hill. Built in 2012, The Overlook offers one- and two-bedroom units across six buildings. Amenities include a fitness center, yoga studio, pool, business center, dog park, outdoor grilling and dining stations and a clubhouse. Zac Pierce, Matt Stefanski and Maura Spellman of Berkadia represented the undisclosed seller in the transaction. The buyer was locally based investment firm The Apartment Gallery. The Overlook was 97.5 percent occupied at the time of sale.

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AcquisitionsLoansMultifamilyNorth CarolinaSoutheast

Mesa West Capital Provides $69.8M Acquisition Loan for Charlotte Apartment Community

by John Nelson

CHARLOTTE, N.C. — Mesa West Capital has provided a $69.8 million acquisition loan for Loft One35, a 298-unit multifamily community located at 135 W. Morehead St. in Charlotte’s South End neighborhood. The borrower, a joint venture between Hillridge Capital and Broad Creek Capital, will use a portion of the loan proceeds to fund capital improvements, including exterior paint, upgraded common spaces and interior renovations for select units. Chris Campbell, Matt Brody, Daniel Allman and Catherine Reinecker of Eastdil Secured arranged the five-year, floating-rate loan on behalf of the borrower. Loft One35 features studio, one- and two-bedroom apartments, as well as two-story townhomes and lofts. Amenities include a resort-style pool, outdoor courtyard with fire pit and barbecue stations, pet spa, coffee bar and bike storage.

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Friendship-Village-Tempe-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

LCS Development Underway on Third Phase of Renovations at 50-Acre CCRC in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — LCS Development is underway on the third phase of a master-planned renovation at Friendship Village Tempe, a 50-acre continuing care retirement community located in Tempe.  Construction has begun on the phase, which will include the removal of an existing structure and the addition of a new, five-story building. Upon completion, which is planned for the fourth quarter of 2027, the building will total 175,900 square feet with 69 independent living apartments, two guest suites and below-grade parking. Units in the building will range in size from 909 to 2,396 square feet. Amenities will include a Del Fuego restaurant and lounge, duckpin bowling lanes, a spa and clinic space, clubrooms and a group exercise area. The building will also offer access to amenities located within other parts of the campus, which include rooftop pickleball courts and Starfire, a full-service rooftop restaurant and microbrewery.  Friendship Village Tempe was originally built in 1980, with the revitalization project beginning in 2019. Ryan Cos. US Inc. is serving as the general contractor for all phases of the renovation. Ryan A+E, the design studio of Ryan Cos., has served as the architect for all three phases. Six total phases of renovation are planned at …

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