SEATTLE — The Simon | Anderson Multifamily Team at Kidder Mathews has arranged the $19 million sale of Cornelius Apartments, located at 306 Blanchard St. in Seattle’s Belltown neighborhood. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily represented the undisclosed seller in the deal. The name of the buyer was not released. Built in 1925 as a hotel, the nine-story building features 137 apartments, averaging 455 square feet.
MINNEAPOLIS — Landmark Properties has opened The Standard at Dinkytown, a 17-story student housing project comprising 1,021 beds in Minneapolis. The 17-story community marks the first student housing development in Minnesota for Athens, Ga.-based Landmark. BKV Group served as the architect, and Landmark Construction was the general contractor. The property’s 323 units range from studios to five bedrooms. Each apartment is fully furnished and wired for high-speed internet and cable. Amenities include an outdoor pool area with a jumbotron, sun deck, cabanas, grilling stations and rooftop hot tub. Students also have access to an interior courtyard area, fitness center, clubhouse with computer lab, gaming lounge, study lounge with café and Amazon package lockers.
CHARLOTTESVILLE, VA. — Development Ventures Group (Deven Group) has broken ground on a 386-bed, on-campus student housing community situated adjacent to Scott Stadium, home arena of the University of Virginia football team. Located at 2005 Jefferson Park Ave. in Charlottesville, the seven-story, $63 million community will offer 119 units with a mix of one-, two-, three- and four-bedroom layouts. Each unit will include walk-in closets, keyless entry and smart TVs, with select units offering private terraces. Amenities at the 240,000-square-foot property will include an elevated amenity deck with mountain views; a heated plunge pool; firepit, grilling stations and hammock and game lawns; clubroom with a coffee bar and event kitchen; group and private study rooms; fitness center with yoga and spin studios; EV chargers; and bike and parcel storage. Deven Group plans to deliver the unnamed community in summer 2027. Capital partners on the project include Marble Capital, BOK Financial and Clairmont Capital Group. Breeden Construction is the general contractor and is currently constructing a project within University of Virginia’s Fontaine Research Park. Deven Group, the U.S. development arm of Kajima Corp., a 180-year-old Japanese construction company, has approximately $300 million of projects set to break ground this year.
INDIANA — Marcus & Millichap has brokered the $7.4 million sale of a portfolio with 76 apartment units and three retail spaces in Hartford City, Spiceland, Knightstown and Rushville. The four properties were built between 2017 and 2021. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, KDC Investments, and procured the buyer, PRE/3.
ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.
NEW YORK CITY — Douglaston Development has topped out Rialto West, a 158-unit affordable housing project in Manhattan’s Hell’s Kitchen neighborhood. The eight-story building will offer studio, one-, two- and three-bedroom units that will be reserved for households earning up to 140 percent of the area median income. In addition, 15 percent of the units will be dedicated to serving formerly homeless households. Rialto West will also feature a fitness center, onsite laundry facilities and a bike storage area. Levine Builders, a Douglaston affiliate, is the general contractor for the project, full completion of which is slated for the fourth quarter of next year.
UNION, N.J. — Local developer LANDMARK has begun leasing CENTURION Union Center, an 85-unit multifamily project located in Northern New Jersey. Designed by Comito Associates PC with interiors by Lita Dirks & Co., CENTURION Union Center rises five stories and offers one- and two-bedroom units, as well as 107 parking spaces. The first move-ins are scheduled to commence in October. Specific amenities and starting rents are still being finalized.
NEW YORK CITY — Lendlease has begun preleasing and revealed new renderings for The Riverie, an 834-unit apartment development in the Greenpoint neighborhood of Brooklyn. The project is slated to open in October. Of the total unit count, 30 percent are designated as affordable housing. The development will also feature 13,000 square feet of retail and restaurant space, state-of-the-art amenities and new public greenspace. Spanning an entire city block along the East River, The Riverie features two towers rising 37 and 20 stories, as well as a mid-rise podium with frontages along India, West and Java streets. Residences range from studios to three bedrooms, including select penthouses and townhomes. Marvel was the project architect. INC Architecture & Design handled the interior design, while Crème designed the townhomes. At the core of The Riverie’s sustainability strategy is its vertical closed-loop geothermal system, comprised of 320 boreholes beneath the site. This feature makes it the largest geothermal residential building in New York state and is believed to be the largest high-rise geoexchange system in the country, according to Lendlease. Combined with its fully electric design, The Riverie is expected to reduce annual carbon emissions from heating and cooling by 53 percent when …
— By Berkadia — San Diego’s apartment market is poised to strengthen in 2025, with demand poised to set a record and fundamentals outperforming most other major California metros. This is a welcome change from 2024, where a slower leasing environment for Class A properties led to more concessions. The big story is demand. More than 9,900 net units are expected to be leased this year, surpassing the previous high of 9,500 in 2021. This figure will also outpace what is likely to be a record year for new deliveries, with 7,233 units slated to debut this year across the metro. By year-end, occupancy is projected to climb to 96.3 percent, up 90 basis points from 2024 and above the market’s 10-year pre-pandemic average. That puts San Diego ahead of Los Angeles, San Francisco-Oakland and San Jose on the occupancy leaderboard. Effective rent is expected to rise 3.1 percent year over year to a projected $2,868, marking a solid improvement from last year’s flat performance. Fundamentals Point to a Solid Year Employment growth remains a tailwind. The metro added 16,200 new jobs between May 2024 and May 2025, pushing total employment to nearly 1.6 million. That economic momentum is supporting …
WINTER GARDEN, FLA. — Centennial Bank has provided a $73 million construction loan for Elysian, a 323-unit luxury apartment development in the Orlando suburb of Winter Garden. Robby Barrows and David Druey of Centennial Bank originated the loan on behalf of the borrower, Unicorp National Developments Inc. The locally based developer plans to break ground on Elysian soon and wrap up construction in approximately 18 months. Site clearing is complete and pipe installation is currently underway. Designed by Krieger Klatt Architects, Elysian’s amenities will include a wine bar; fitness center with yoga, Pilates and cycling studios; steam room with a sauna; resort-style pool with cabanas; and a clubhouse with a fireplace and movie theater. Information on the property’s floorplans was not released. The Elysian loan grows the financing relationship between Centennial Bank and Unicorp to more than $500 million.
