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Multifamily

Carillon Bay Apartments
AcquisitionsFloridaMultifamilySoutheast

CBRE Arranges Sale of 304-Unit Multifamily Community in St. Petersburg, Florida

by Abby Cox

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.

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Oliver-on-the-Hudson-Jersey-City
DevelopmentMultifamilyNew JerseyNortheast

NRP Group Completes 401-Unit Multifamily Project in Jersey City

by Taylor Williams

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.

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Haven Columbia Pike
Affordable HousingLoansMultifamilySoutheastVirginia

Insight Recapitalizes Affordable Housing Property in Arlington With Equity from LEO Impact Capital

by Abby Cox

ARLINGTON, VA. — LEO Impact Pool, an investment vehicle managed by LEO Impact Capital, has provided a preferred equity investment to Insight Property Group for Haven Columbia Pike, a 118-unit, garden-style apartment community in Arlington. LEO’s investment allows Insight to recapitalize the property, fund significant capital improvements and dedicate all available units to workforce housing for families earning 60 percent or less of the area median income (AMI). Located at 805 S. Florida St. near the Pentagon, Haven Columbia Pike features a mix of one- to three-bedroom apartments ranging in size up to 722 square feet, according to Apartments.com. Amenities at the pet-friendly community include 99 off-street parking spaces, bike storage, landscaping and individual storage units.

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DevelopmentLoansMultifamilyNortheastRhode Island

ACRES Capital Provides $19M in Financing for Multifamily Project in Warwick, Rhode Island

by Taylor Williams

WARWICK, R.I. — ACRES Capital has provided $19 million in financing for Matteson Ridge, an age-restricted multifamily project in Warwick, about 50 miles south of Worcester, Mass. The undisclosed borrower will use the proceeds to refinance existing debt on 29 townhouse units that are fully occupied, as well as to fund construction of 53 garden-style apartments. Residences are furnished with stainless steel appliances, granite countertops, custom cabinetry, coffee bars, laundry rooms and attached one-car garages.

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Mossdale-Landing-Apts-Lathrop-CA
CaliforniaLoansMultifamilyWestern

JLL Secures $51.5M Senior Loan for Mossdale Landing Apartments in Lathrop, California

by Amy Works

LATHROP, CALIF. — JLL Capital Markets has secured a $51.5 million senior loan for Mossdale Landing Apartments, a multifamily property in Lathrop. Jeff Sause and Jalynn Borders of JLL arranged the five-year, fixed-rate financing through a correspondent life insurance company for the borrowers, Rubik Built, Wright Equities and The Grupe Co. Located at 18008 Golden Valley Parkway, Mossdale Landing Apartments offers 204 one-, two- and three-bedroom floor plans across 196,686 square feet of rentable space. The property features a communal lounge, fitness studio, swimming pool with cabanas, spa, barbecue grilling stations, meditation room, dog spa and an electronically accessible Amazon mailing room.

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155-5th-Ave-Denver-CO
Affordable HousingColoradoDevelopmentMultifamilyWestern

Evergreen Real Estate to Develop 60-Unit Affordable Housing Property in Denver

by Amy Works

DENVER — Chicago-based Evergreen Real Estate Group has closed on a land parcel and received a 9 percent Low-Income Housing Tax Credit (LIHTC) award through the Colorado Housing and Finance Authority (CHFA) for the development of The Ford Apartments, an income-restricted rental community in Denver’s Baker neighborhood. Evergreen plans to break ground on the project in early 2026. Located at 155 W. 5th Ave., the site is situated on an underutilized parking lot adjacent to the Denver Health Hospital Campus. The six-story property will offer 60 one-, two- and three-bedroom floor plans for households earning between 30 percent to 80 percent of the area median income. The units will feature Energy Star appliances packages, LED lighting, step-in showers, in-unit laundry, low-flow plumbing fixtures and vinyl plank flooring. Onsite amenities will include a community room, fitness center, coworking space, children’s playroom and secure bike storage. Additionally, the property will offer a 48-stall onsite parking lot. Family Tree will have an onsite office and provide services to help enhance residents’ lives and economic mobility. The project team includes Meridian 105 Architecture as architect and Milender West as general contractor.

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LoansMultifamilyTexas

Lument Arranges $123.6M in CMBS Financing for Dallas Multifamily Portfolio

by Taylor Williams

DALLAS — New York City-based Lument has arranged $123.6 million in CMBS financing across four loans for a portfolio of four multifamily properties totaling 1,111 units in Dallas. The portfolio consists of Avalon 8801, a 212-unit mid-rise that built in 1986 and renovated in the 2010s; 6500 South, a 536-unit mid-rise that was completed in 1985 and renovated in 2012; Casa Bella Apartments, a 176-unit high-rise that was delivered in 1974 and renovated in 2019; and Westwood Apartments, a 187-unit mid-rise that was constructed in 1969 and renovated in the 2010s. All four loans carry fixed interest rates and five-year terms with full-term, interest-only payments. Evan Hom led the transaction for Lument. The borrower was Texas-based owner-operator Sahara Equities.

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Merrimack-College-North-Andover
DevelopmentMassachusettsMultifamilyNortheastStudent Housing

Greystar, Merrimack College Top Off Two Student Housing Projects in Metro Boston

by Taylor Williams

NORTH ANDOVER, MASS. — A public-private partnership between Greystar and Merrimack College has topped off two student housing projects totaling 540 beds on the university’s campus in North Andover, a northern suburb of Boston. The first building will house 351 beds across 180 units, all of which will be traditional dormitory doubles except for the resident advisor units. The second building will house 189 beds across 54 units, the majority of which will feature three- and four-bedroom suite configurations. The properties will also feature a combined total of 12,609 square feet of academic space, a pavilion for honors students and a fitness center. Timelines for completion of the projects were not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

Cushman & Wakefield, Pyramid Arrange $82.4M Sale of Two Multifamily Properties in Upstate New York

by Taylor Williams

CLIFTON PARK, N.Y. — Cushman & Wakefield and Pyramid Brokerage Co. have co-arranged the $82.4 million sale of Foxrun Apartments and North Pointe Apartments, two multifamily properties in the upstate New York community of Clifton Park. Spanning 41 acres, Foxrun Apartments offers 468 units. Spanning 12 acres, North Pointe Apartments totals 198 units. Affiliates of The Solomon Organization sold the properties to Merion Realty Partners, which partnered with Eastham Capital on the deal. Niko Nicolaou, Ryan Dowd, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield, alongside Jonathan Weinstein, Robert Stewart and Joseph Mahoney of Pyramid Brokerage Co. represented both parties in the transaction. Both properties were more than 90 percent occupied at the time of sale.

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