MCLEAN, VA. — Sunrise Senior Living has opened Sunrise of McLean Village, a seniors housing community located at 1515 Chain Bridge Road in McLean, roughly 15 miles outside Washington, D.C. Comprising 90,000 square feet, the three-story property has the capacity for more than 120 residents and offers assisted living and memory care accommodations. Amenities at the community include a dining room and bistro with a bar, fitness center, library, two sunrooms, an activity room, hair and nail salon and a massage room. The property also features five covered porches, a large outdoor terrace, two rooftop terraces and a public-private garden. Rust | Orling Architecture served as architect, and The Whiting-Turner Contracting Co. was the general contractor for the project.
FORT MILL, S.C. — Knightvest Capital has acquired The Apartments at Brayden, a 332-unit, garden-style multifamily community located in Fort Mill, approximately 20 miles southwest of Charlotte. The seller and sales price were not disclosed. Built in 2016, the property comprises apartments in one-, two- and three-bedroom floor plans. Amenities at the community include a swimming pool, fitness center and clubhouse. The Apartments at Brayden marks Knightvest’s fifth acquisition in metro Charlotte since 2020.
MIDDLETOWN, CONN. — A joint venture between Harbor Group International and PB Development will build Springside Middletown, a 240-unit multifamily project that will be located on the southern outskirts of Hartford. The total capitalization of the project is $83.5 million. Springside Middletown will feature one-, two- and three-bedroom units with an average size of 1,020 square feet that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a pool, fitness center, coworking lounge, pickleball courts, outdoor grilling and dining stations, a dog park, playground and walking trails. Construction is slated for a 2025 completion.
WILMETTE, ILL. — Optima Inc. has begun leasing Optima Verdana, a 100-unit luxury apartment complex in the Chicago suburb of Wilmette. The community is scheduled to welcome its first residents in July and is currently more than 30 percent leased. Optima Verdana offers one-, two- and three-bedroom units as well as penthouse residences ranging in size from 660 to 2,790 square feet. Monthly rents will range from $2,950 to nearly $12,000. Optima’s CEO and founder, David Hovey Sr., designed the community. Residents will have access to Optima’s complimentary concierge program, Optimized Service, which provides in-home package delivery, grocery delivery and plant watering. Residents can also schedule on-demand services through the Optima Verdana mobile app such as housekeeping, pet care, fitness classes, massage service and a private chef. Optima Verdana gets its name from “verdure,” which means lush green vegetation. The community features several sustainable initiatives, including the Chicago area debut of Optima’s proprietary exterior vertical landscaping system. The self-contained irrigation and drainage system uses plants to promote evaporative cooling, reoxygenate the air, reduce dust and smog levels, decrease ambient noise and detain stormwater. Indoor amenities at the property include a 24-hour front door person, pickleball/basketball court, fitness center, yoga room, …
SAN BERNARDINO, CALIF. — 79 Lotus Apts, LLC acquired a multifamily portfolio in San Bernardino’s South Pointe neighborhood for $12 million. San Bernardino is located 60 miles east of Los Angeles. The portfolio comprises 79 units across three properties, including: Lotus, a 19-unit property; Steel Park Manor, a 32-unit property; and Wier Park, a 28-unit property. Units come in one- and two-bedroom floorplans. CBRE’s Eric Chen represented both the buyer and the undisclosed sellers in the transaction.
MassDevelopment Provides $129M in Bond Financing for Opus Newton Seniors Housing Project Near Boston
NEWTON, MASS. — MassDevelopment has provided $129 million in tax-exempt bond financing for the construction of Opus Newton, a 174-unit seniors housing project that will be located on the western outskirts of Boston. The borrower and developer is locally based nonprofit organization 2Life Communities. Construction began in March and is scheduled for completion in mid-2025. Opus Newton, an age-restricted complex with units reserved for renters age 62 and above, is being constructed on four acres at 777 Winchester St. The property will house 62 two-bedroom units and 112 one-bedroom apartments. Amenities will include a library, café, business center, game room, volunteer hub, convenience store, art room, fitness studio and classrooms. In addition, onsite staff will be available to coordinate home and health services based on resident needs. According to the development team, Opus Newton will meet the needs of seniors who earn too much to qualify for affordable housing units but cannot comfortably afford other high-end housing options in the area. Of the property’s 174 units, nine will be reserved for households earning 80 percent or less of the area median income. The market-rate units will partially maintain low rents by using volunteers from the community in place of some …
WASHINGTON, D.C. — Urban Atlantic, Triden Development Group, Hines and joint venture partner Bridge Investment Group have opened Common Clover, a fully furnished, 248-room co-living building in Washington, D.C. Situated within The Parks at Walter Reed, a 66-acre mixed-use redevelopment, the property features suites with two to five private bedrooms, fully stocked kitchens, multiple bathrooms and in-unit laundry. Amenities include coworking space, a library, rooftop deck, courtyard with grilling stations, fitness center, game room and club lounge with a bar. The building also includes 21,000 square feet of ground-floor retail space. Rental rates start at $1,207 for a 116-square-foot studio, according to Apartments.com.
HUMBLE, TEXAS — Greystone has provided a $32.2 million Fannie Mae loan for the refinancing of The Villas at Foxbrick, a 412-unit apartment community located in the northern Houston suburb of Humble. Built in 2004, the property offers one- and two-bedroom units. According to Apartments.com, amenities include a pool, fitness center, courtyard and package locker service. Anthony Cristi of Greystone originated the financing. Gregory Vassilakos of Cosmos Capital Group served as the loan arranger and correspondent. The borrower was not disclosed.
HARRISON, N.J. — Locally based developer Advance Realty Investors has begun preleasing The Wyldes, a 399-unit multifamily project in the Northern New Jersey community of Harrison. The five-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, custom cabinetry and individual washers and dryers. Amenities include a rooftop lounge with a bar and TVs; landscaped courtyard with fire pits and gaming areas; resort-style pool with grilling and dining stations; commercial-grade demonstration kitchen; coworking lounge with private offices and conference facilities; a billiards room with a media lounge and kitchenette; and a two-level fitness center with a yoga studio. Rents start at $2,050 per month for a studio apartment.
NORRISTOWN, PA. — Largo Capital, a commercial intermediary based in upstate New York, has arranged a $15 million loan for the refinancing of a multifamily property in Norristown, a northwestern suburb of Philadelphia. The unnamed property consists of 17 buildings totaling 328 units that were 99 percent occupied at the time of the loan closing. Neal Colligan of Largo Capital originated the financing. The direct lender and borrower were not disclosed.