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Multifamily

DevelopmentMultifamilySouth CarolinaSoutheast

Collier Cos. Closes on Land Acquisition in Metro Charleston’s Nexton Community, Plans 360-Unit Apartment Project

by John Nelson

SUMMERVILLE, S.C. — The Collier Cos. has closed on the purchase of a 10.7-acre parcel within the master-planned community of Nexton in Summerville, approximately 25 miles from downtown Charleston. The company plans to develop 360 new apartment homes on the site. Situated within walking distance from retail and dining options such as Publix, Harris Teeter and The Pickle Bar, the complex will feature studio, one-, two and three-bedroom apartments. Amenities at the property will include a fitness center, game area, pet spa, bocce ball court, yoga lawn, pickleball court, dog park, resort-style swimming pool and grilling stations. Collier Cos. anticipates to begin leasing at the community in early 2027.

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GeorgiaLoansMultifamilySoutheast

BWE Provides $32.3M HUD-Insured Loan to Refinance Greystone at Mulberry Grove Apartments in Fortson, Georgia

by John Nelson

FORTSON, GA. — BWE has provided a $32.3 million HUD 223(f) loan to refinance Greystone at Mulberry Grove, a 222-unit multifamily development located in Fortson, roughly 11 miles north of Columbus. Paul Harbor, Caleb Carter, Libby Davis and Maria Sealy of BWE’s Birmingham office originated the loan on behalf of the borrower, a Georgia-based developer. The HUD loan features a 35-year term and amortization schedule with a debt service coverage ratio of 1.15. The transaction represents BWE’s 10th closed deal with the undisclosed client. Situated at 4849 GA Highway 315, Greystone at Mulberry Grove comprises 22 residential buildings that feature one-, two- and three-bedroom floorplans. Unit sizes of the apartments range from 984 square feet to 1,728 square feet, according to Apartments.com. Amenities include a clubhouse and leasing office, fitness center, laundry room, package room, media room, billiard room, business center, demonstration kitchen, swimming pool with a sundeck, outdoor pavilion with a kitchen, car wash, dog park and spa, bike racks and a community garden. 

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DevelopmentMultifamilyNew JerseyNortheast

Joint Venture Underway on 80-Unit Multifamily Project in West New York, New Jersey

by Taylor Williams

WEST NEW YORK, N.J. — A joint venture between Black Bear Asset Management, Bettina Equities Management and Echevarria Industries is underway on construction of an 80-unit multifamily project in West New York, located across the Hudson River from Manhattan. The site is located at 6205–19 Madison St., and the building will rise six stories and offer amenities such as a rooftop terrace, solarium lounge, fitness center, indoor garage parking with electric vehicle charging stations and a community center with grills and entertainment space. Completion is slated for some time next year.

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The Switchyard
ArizonaDevelopmentMixed-UseMultifamilyRestaurantRetailTop StoriesWestern

Creation, Horizon Break Ground on $120M Mixed-Use Project Near Phoenix

by Channing Hamilton

QUEEN CREEK, ARIZ. — Creation, in partnership with Horizon Real Estate Ltd., has broken ground on The Switchyard, a $120 million mixed-use project in Queen Creek, about 40 miles southeast of Phoenix. The 10-acre project will feature 54,000 square feet of restaurant, retail and office space, as well as a 215-unit apartment community. The development’s restaurant lineup will feature Postino, a restaurant and wine café; Snooze, an A.M. Eatery, a breakfast and brunch restaurant founded in Denver; and Shake Shack, a modern burger chain. Creation states that lease negotiations are currently underway for most of the remaining spaces.  The Switchyard will open in phases, with the first phase slated to deliver in mid-2026. Dallas-based GFF Design is the project’s architect, and LGE Design Build will lead the construction. “The Switchyard represents Queen Creek’s first true walkable, mixed-use development, marking a milestone in the town’s continued growth and evolution,” remarked David Sellers, co-founder of Creation. “With construction now underway, we’re eager to see this place come to life, seamlessly blending retail, dining, office spaces, apartments and a vibrant outdoor environment.” As part of the groundbreaking event for The Switchyard, the development team donated $25,000 to Ryan House, a nonprofit organization that …

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Morado-on-Berry-Fort-Worth
DevelopmentMixed-UseMultifamilyStudent HousingTexas

TCU, Endeavor Break Ground on Morado on Berry Mixed-Use Development in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between Texas Christian University (TCU) and Austin-based Endeavor Real Estate Group has broken ground on Morado on Berry, a mixed-use development on the university’s campus in Fort Worth. The development will include two student housing communities with apartments for upper-level students at 2900 W. Berry St. and 3024 Cockrell Ave. on the southern edge of TCU’s campus. The properties will also feature 25,000 square feet of ground-floor retail space upon completion, which is expected ahead of the 2027-2028 academic year. The communities’ 780 beds will be offered in studio, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities are set to include a fitness center and Pilates studio; rooftop pool and deck with a Jumbotron and adjacent social lounge with billiards; group and private study rooms; an outdoor living room with cooking facilities; and a large courtyard. The development team for the project includes a real estate fund advised by Crow Holdings Capital, Robert A.M. Stern Architects, Lake|Flato, The Beck Group, JLL, OHT Partners and Kimley-Horn. American Campus Communities has been tapped to provide marketing, leasing and property management services for Morado on Berry.

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Ocotillo-Bay-Chandler-AZ
AcquisitionsArizonaMultifamilyWestern

TGM Acquires 296-Unit Multifamily Community in Chandler, Arizona for $90.5M

by Amy Works

CHANDLER, ARIZ. — New York-based TGM has purchased Ocotillo Bay, an apartment property in Glendale, from an undisclosed national fund manager for $90.5 million. The transaction marks TGM’s entry into the Phoenix market. TGM Communities will manage the community, which has been renamed as TGM Ocotillo Bay. Built in 1997, the 296-unit property features two pool areas with cabanas and barbecues; an outdoor lounge area with a bocce ball court, fireplace, barbecue and covered seating area; a resident clubhouse with business center and TV seating area; and a fitness center with weight training and cardio equipment, as well as a separate yoga/spin room. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the deal.

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Nellis-Gate-Apts-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

Northcap Commercial Arranges $4.5M Sale of Nellis Gate Apartments in Las Vegas

by Amy Works

LAS VEGAS — Northcap Commercial has brokered the sale of Nellis Gate Apartments, a multifamily property located at 4340 N. Las Vegas Blvd. in Las Vegas. Built in 2002, Nellis Gate Apartments offers 50 units. The asset traded for $4.5 million, or $90,000 per unit. Jerad Roberts, Devin Lee and Robin Willett of Northcap Commercial represented the undisclosed buyer in the deal. The name of the seller was not released.

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DevelopmentFloridaMultifamilySoutheast

ANF Delivers First Phase of Parks at Delray Development in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach. ANF worked on behalf of the ownership group, which comprises 13th Floor Investments, Key International, CDS International Holdings and Wexford Capital. The first phase of Parks at Delray, which ANF topped out in September 2023, includes 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. Designed by MSA Architects, the community’s resort-style amenities include a clubhouse, fitness center, pool, social lounge and green spaces. When fully built out, Parks at Delray will feature 747 multifamily units, approximately 10 percent of which will be designated as workforce housing.

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DevelopmentMidwestMultifamilyOhioSeniors Housing

Sonida Senior Living Expands Community in Cincinnati with 82 Additional Units

by Kristin Harlow

CINCINNATI — Sonida Senior Living has expanded The Wellington at North Bend Crossing in Cincinnati with the addition of its new Vista building. The four-story building is now welcoming visitors for tours ahead of its anticipated summer opening. The Vista building adds 82 new assisted living and memory care apartments, supporting a maximum occupancy of 113 residents. The expansion will create nearly 65 new jobs in the area. The building features three outdoor spaces, a nearly 1,000-square-foot rehabilitation gym, fitness room, theater, game room, multiple dining venues, a salon and sunrooms on each floor. Responding to frequent requests from the community, Vista will introduce fully furnished assisted living apartments specifically available for temporary stays and respite care. This addition addresses a growing need among local families for flexible, supportive short-term living options. Vista also expands the community’s specialized memory care neighborhood, which utilizes Sonida’s Magnolia Trails program to provide engagement and purpose-driven experiences for individuals living with Alzheimer’s disease and other forms of dementia. With the addition of Vista, The Wellington at North Bend Crossing expands its continuum of care to include a total of 318 independent living, assisted living, memory care and temporary stay/respite care units.

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Singing-Bridge-Residences-Chicopee-Massachusetts
DevelopmentLoansMassachusettsMultifamilyNortheast

MassHousing Provides $37.3M in Financing for Affordable Housing Project in Chicopee, Massachusetts

by Taylor Williams

CHICOPEE, MASS. — MassHousing has provided $37.3 million in financing for Singing Bridge Residences, a 105-unit affordable housing project in Chicopee, located near the Massachusetts-New York border. The borrower, a joint venture between Sydney Capital Group LLC and Brisa Builders Development, will develop the complex on a four-acre, riverfront site at 400 Main St. that was previously owned by the city. Other portions of the site will be developed separately to feature a sports complex, brewery and an office building. The unit mix will consist of 16 studios, 21 one-bedroom apartments, 57 two-bedroom residences and 11 three-bedroom apartments and will feature a range of income restrictions. Paul A. Castrucci Architects is designing Singing Bridge Residences, and Western Builders is serving as the general contractor. Completion is slated for summer 2027.

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