WILMINGTON, DEL. — NAI Emory Hill has brokered the sale of Lancashire Apartments, an 88-unit multifamily building located on the north side of Wilmington. The property offers a mix of studio, one- and two-bedroom units that range in size from 312 to 733 square feet. Kyle McLaughlin and Rich Dudek of NAI Emory Hill represented the undisclosed seller in the transaction. Tommy Ciccarone Jr. of Bennett Williams Commercial represented the buyer, Berger Communities, which has rebranded the property as Larkwood Place Apartments.
EAST ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated a $6.3 million sale of Arlington Court Apartments, a 53-unit multifamily complex in East Orange, located in Northern New Jersey. The three-building property offers 10 studios, 23 one-bedroom units and 20 two-bedroom units. Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.
MIAMI — A partnership between Tampa- based American Landmark Apartments and New York-based Clearline Real Estate has broken ground on 2000 Wynwood, a 310-unit apartment complex located in Miami’s Wynwood Arts District. Leo A Daly designed the project, which will feature luxury studios, one- and two-bedroom apartments, as well as 12,000 square feet of ground-floor retail space. Amenities will include a resort-style rooftop swimming pool, fitness center, resident lounge, coworking areas and 308 private parking spaces. A timeline for completion was not disclosed.
SAN DIEGO — Wakeland Housing and MVE + Partners have broken ground on The Becker, a $140 million affordable housing complex in San Diego’s Mission Valley neighborhood. The property is part of the $4 billion Riverwalk development in San Diego — a mixed-use and recreational project master-planned by MVE + Partners that will convert a former golf course into a 195-acre mixed-use, transit-oriented development. The Becker is the first phase of Riverwalk’s affordable component and will be the first housing project to open within the development. Designed by MVE + Partners, The Becker comprises 227,000 square feet spanning three buildings offering a total of 190 units. The four- and five-story buildings are dedicated to tenants making between 30 to 60 percent of the area median income. The property will feature 46 one-bedroom, 89 two-bedroom and 55 three-bedroom units. The property will also include a second-floor courtyard and play area, a community room with a kitchen and computer stations, a central laundry room and onsite leasing office alongside 95 bike spaces and 100 parking spaces, including EV chargers. Slated for completion in 2027, The Becker is located at 6364 Village Drive. Level 10 Construction is serving as general contractor for the project.
BREA, CALIF. — Integrated Senior Foundation, a nonprofit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana. The communities include Magnolia Gardens in Cottage Grove, Ore.; Wiley Creek in Sweet Home, Ore.; and The Lodge in Great Falls, Mont. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living and memory care residences. The Lodge totals 78 assisted living units. JLL secured the financing on behalf of Brea, Calif.-based Integrated Senior Foundation.
CARLSBAD, CALIF. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad. Oakmont Santianna totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022. BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan. Oakmont Management Group will continue to operate the community on behalf of the new ownership.
HOUSTON — A limited liability company doing business as 14700 TP LLC has purchased Ten Pines at Summerwood, a multifamily property in northwest Houston, for $31.2 million. According to LoopNet Inc., the property was built in 2013 and totals 240 units. Units come in one-, two- and three-bedroom floor plans and are furnished with island kitchens, stainless steel appliances, ceramic tile flooring, walk-in closets and individual washers and dryers. Amenities include a pool, fitness center, business center, clubhouse, sports lounge and an outdoor lounge area. Dustin Seltzer of JLL was the listing agent on the deal.
NEW YORK CITY — A partnership between The Domain Cos., LMXD, which is an affiliate of L&M Cos., and Park Tower Group will develop three apartment buildings totaling roughly 1,000 units in the Greenpoint area of Brooklyn. The project, which will include 300 affordable housing units and 20,000 square feet of retail space, will be part of Greenpoint Landing, a 22-acre waterfront development that will ultimately have 5,500 residential units. Handel Architects is designing the project, and Field Operations is handling landscape design. Bank OZK provided the partnership an $81 million senior loan for the acquisition of the land, and InterVest Capital Partners provided $33 million in mezzanine financing, as well as a structured equity solution for acquisition and pre-development costs. Christopher Peck, Nicco Lupo, Rob Hinckley, Scott Aiese and Jonathan Faxon of JLL arranged the financing. Vertical construction is expected to begin next summer.
ST. PETERSBURG, FLA. — CBRE has arranged the sale of Carillon Bay Apartments, a 304-unit, value-add multifamily complex located in St. Petersburg within the Gateway Business District. A Texas-based firm purchased the property for $37 million, according to the Tampa Bay Business Journal. Michael Regan, Cameron Barbas and Matthew Valeri of CBRE represented the seller, Eagle Property Capital, in the transaction. Formerly Gateway on 4th, Carillon Bay comprises 32 two-story buildings and offers one-, two- and three-bedroom floorplans ranging in size from 618 square feet to 1,498 square feet. Units also feature walk-in closets, washer/dryers and private patios or balconies. Amenities include a resort-style swimming pool, 24-7 fitness center, dog park and a children’s playground.
JERSEY CITY, N.J. — The NRP Group, a Cleveland-based multifamily developer, has completed Oliver on the Hudson, a 401-unit multifamily project in Jersey City. Designed by KTGY with interiors by Bergmeyer, Oliver on the Hudson offers studio, one-, two- and three-bedroom units, some of which feature private balconies. Amenities include two interior courtyards, a pool, outdoor lounge areas, a fifth-floor sky lounge, clubhouse, fitness center, a catering kitchen with a private dining room, coworking spaces and a 24-hour package concierge system. NRP Group developed the property in partnership with G&S Investors and Rockwood Capital. Rents start at roughly $2,500 per month for studio apartment.