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Multifamily

The-Press-Wilmington
DelawareDevelopmentMultifamilyNortheast

Buccini Pollin Completes 243-Unit Multifamily Project in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — Regional developer Buccini Pollin Group has completed The Press, a 243-unit multifamily project in Wilmington. Designed by Perkins Eastman, the 14-story building gets its name from the site formerly serving as the headquarters of the The News Journal. Units come in studio, one- and two-bedroom floor plans and are furnished with quartz countertops, stainless steel appliances and in-unit washers and dryers. Amenities include a pool, dog run, grilling areas and a landscaped pocket park. Rents start at $1,600 per month for a studio apartment.

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6136-Manchester-Apts-Los-Angeles-CA
CaliforniaDevelopmentMultifamilyWestern

Cityview to Develop 489-Unit Multifamily Community in Los Angeles

by Amy Works

LOS ANGELES — Cityview is developing 6136 Manchester, an apartment project located at 6136 W. Manchester Ave. in Los Angeles. The project is fully entitled and Cityview recently closed on the land for the project. The company plans to break ground on the development in 2026, with completion scheduled for late 2028. Located in Los Angeles’ Westchester neighborhood, 6136 Manchester will feature 489 studio, one- and two-bedroom apartments, 549 parking spaces and 16,120 square feet of ground-level retail space. Sixty-four of the units will be designated for households earning no more than 50 percent of the area median income. Community amenities will include a resort-style pool and spa, a garden courtyard, fitness studio, club room, CV Works coworking space, several rooftop lounges and a pet park and spa. The project will also include a new public plaza at the corner of 87th Street and Truxton Avenue that will provide an indoor-outdoor gathering space for residents and the community. Project partners include AC Martin, Nadia Geller Designs and MJS Landscape Architecture.

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AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield | PICOR Brokers $4.4M Sale of Glenn East Apartments in Tucson

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Glenn East, a multifamily complex at 2333 E. Glenn St. and 2315 E. Glenn St. in Tucson. J and J Glenn East SFR LLC and J and J Glenn East LLC purchased the asset from LO PLA LLC and Glenn East LLC for $4.4 million. The 30,820-square-foot property features 47 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR handled the transaction.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Exact Capital Delivers 250-Unit Affordable Housing Community in South Atlanta

by John Nelson

ATLANTA — Exact Capital has delivered Skyline Apartments, a 250-unit affordable housing community located along the Atlanta Beltline’s Southside Trail in the city’s Peoplestown neighborhood. The property is located at 1090 Hank Aaron Drive SE and represents a $94 million investment. Capital partners on the project included Invest Atlanta (the City of Atlanta’s economic development arm), Goldman Sachs, Stonehenge, LISC and Walker & Dunlop. Exact Capital and joint venture partner Aleem Construction broke ground on Skyline Apartments in 2022 in a ceremony with Atlanta Mayor Andre Dickens. The community features studio, one- and two-bedroom apartments reserved for households earning at or below 60 percent of the area median income (AMI). Amenities include a healthcare center, modern fitness facility, community room, meeting spaces, dog wash station, secure gated entry and covered parking.

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DevelopmentMidwestMissouriMultifamily

Albion Residential Breaks Ground on 182-Unit Apartment Complex in Des Peres, Missouri

by Kristin Harlow

DES PERES, MO. — Albion Residential, along with partners Koplar Properties and Theis Group, have broken ground on Magnolia Ridge in Des Peres, a western suburb of St. Louis. The five-story, 182-unit apartment complex will feature a fitness center with sauna and yoga room, a private dining room, game lounge, resident speakeasy, dog wash, outdoor pool, golf simulator and resident mini mart. Brinkmann Constructors is the general contractor, and Old National Bank provided construction financing. Completion is slated for spring 2027.

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LoansMidwestMissouriMultifamily

Berkadia Arranges $15.4M Loan for Refinancing of Multifamily Community in Suburban St. Louis

by Kristin Harlow

ST. PETERS, MO. — Berkadia has arranged a $15.4 million Freddie Mac loan for the refinancing of Pure St. Peters, a 143-unit multifamily community in the northwest St. Louis suburb of St. Peters. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia arranged the financing on behalf of the borrower, Tilden Legacy Pure St. Peters Apartments LLC. The loan features a five-year term and a fixed interest rate. The property was 94 percent occupied at the time of the loan closing. The three-story community was built in 2019. Amenities include a pool with sundeck, fitness center, package receiving area, business center and outdoor lounge.

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AcquisitionsIllinoisMidwestMultifamily

Greenstone Partners Brokers $3.6M Sale of Two Multifamily Properties in Chicago

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the $3.6 million sale of two multifamily properties located at 1343 N. Western Ave. and 1045 N. California Ave. in Chicago’s Wicker Park and Smith Park neighborhoods. Jordan Multack and Jacob Goldstein of Greenstone represented the seller, a Chicago-based private investor. The buyer was also a private investor. The assets feature spacious layouts, rooftop decks and onsite parking.

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The-Arch-at-Abilene
LoansMultifamilyTexas

JLL Arranges $14.1M Acquisition Loan for Multifamily Property in Abilene, Texas

by Taylor Williams

ABILENE, TEXAS — JLL has arranged a $14.1 million acquisition loan for The Arch at Abilene, a 192-unit multifamily property located in the West Texas city of Abilene. The property features 72 two-bedroom units and 120 three-bedroom units and amenities such as a pool, clubhouse, business center, fitness center, volleyball court and multiple lounges. Scott Aiese and Alex Staikos of JLL arranged the loan on behalf of the borrower, Eastman Residential. The direct lender was not disclosed.

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619-Grove-St.-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

Partnership to Develop 444-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — A partnership between two New York City-based firms, SJP Properties and Claremont Development, as well as Battery Global Advisors and PCCP LLC, will develop a 444-unit apartment building in Jersey City. The site is located at 619 Grove St., and the 24-story building will be known as The Lucy and will include 13 affordable housing units. The amenity package will consist of a rooftop pool, sky lounge, sundeck with grilling stations, a penthouse bar, coworking and conference rooms, fitness center, media and game room, speakeasy, hydroponic garden, multiple lounges, a coffee bar, grab-and-go market and a pet grooming station. Michael Graves Architecture is designing the project, and KL Masters Construction Co. is serving as the general contractor. Mary Cook Associates is handling interior design. Kennedy Wilson is financing construction, which is scheduled to begin in the coming weeks. Cushman & Wakefield arranged the construction debt and structured the joint venture between SJP and Claremont. A tentative completion date was not announced.

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AcquisitionsMultifamilyNew YorkNortheastRetail

JLL Arranges $25M Sale of Multifamily, Retail Building in Manhattan

by Taylor Williams

NEW YORK CITY — JLL has arranged the $25 million sale of an eight-story, 19,000-square-foot multifamily and retail building located at 149 Spring St. in Manhattan’s SoHo neighborhood. The building’s retail space, which is currently vacant, totals 2,254 square feet, and according to StreetEasy, the multifamily component encompasses seven units. Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steve Rutman, Guthrie Garvin and Hall Oster of JLL represented the seller, local developer EMP Capital Group, in the transaction. The buyer was Creed Equities, a New York City-based family investment firm.

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