Thursday, October 23, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

2890-W-116th-Pl-Westminster-CO
ColoradoLoansMultifamilyWestern

Mesa West Capital Provides $52M Refinancing for Multifamily Property in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with $52 million in short-term, floating-rate first mortgage debt to refinance Canyon Reserve at the Ranch, an apartment community in Westminster. The property is located at 2890 W. 116th Place. Built in 1984, the 17-building, garden-style asset was fully repositioned by the sponsor in 2022. Canyon Reserve at the Ranch features 256 one- and two-bedroom units with modern finishes, including stainless steel appliances, in-unit washers/dryers, walk-in closets and private outdoor spaces. Community amenities include a resort-style swimming pool, outdoor grilling area, fitness center and dog park.

Continue Reading
FacebookTwitterLinkedinEmail
19909-SE-Stark-St-Portland-OR
AcquisitionsHealthcareMultifamilyOregonWestern

Norris & Stevens Brokers $5.3M Sale of Residential Care Facility in Portland

by Amy Works

PORTLAND, ORE. — Norris & Stevens has arranged the sale of a 16-room residential care facility located at 19909 SE Stark St. in Portland. The Pribeagu family sold the asset to an undisclosed buyer for $5.3 million. Constructed in 2003 and zoned for 34 beds, the 13,414-square-foot facility comprises two buildings on 1.4 acres. All 16 rooms are fully furnished and ADA compliant with private bathrooms and individual temperature control. Facility amenities include a full kitchen, three laundry rooms, an intercom system, office spaces, a large community room, two storage sheds and approximately 3,000 square feet of garage space. David Chatfield of Portland-based Norris & Stevens represented the seller, while Lindsay Murphy of Apex Real Estate Partners represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestMultifamily

Wingspan, Tucker Development Deliver First Townhomes at Multifamily Project in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — A joint venture between Wingspan Development Group and Tucker Development has delivered the first rental townhomes at The Henry at Harms Woods, a 294-unit multifamily property in Skokie. Located next to Life Time Fitness and near Westfield Old Orchard mall just west of I-94, the 11-acre development will include 245 apartment units, 49 rental townhomes and approximately 13,000 square feet of commercial space. First move-ins for the townhomes start this month, with the balance slated for this fall. Designed by HKM Architects + Planners and built by Nicholas & Associates, The Henry at Harms Woods will offer studio, one-, two- and three-bedroom luxury apartment units and three- and four-bedroom townhomes. The four-bedroom Maple and Oak floor plans, which span approximately 2,500 square feet, start at $6,800 per month. Amenities include expansive courtyards, an outdoor pool, fitness center and work-from-home stations.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriMultifamily

Berkadia Arranges Sale of 110-Unit Multifamily Property in Downtown Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Berkadia has arranged the sale of The Locarno, a 110-unit multifamily property in downtown Kansas City. Located at 235 Ward Parkway, the high-rise asset features views of Country Club Plaza and Brush Creek. The property was built in 1928 and renovated in the mid-1980s. Michael Spero, Niko Vrentas and Simon Rodewald of Berkadia represented the seller, Locarno Partners LLC. The asset sold to ELKCO Properties in joint venture with Leale Capital. Both companies are based in Denver.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMultifamilyOfficeWisconsin

Marcus & Millichap Brokers $7.3M Sale of Apartment, Office Building in Marinette, Wisconsin

by Kristin Harlow

MARINETTE, WIS. — Marcus & Millichap has brokered the $7.3 million sale of Dunlap Square, a multifamily and office building in Marinette, a city in northeast Wisconsin. Built in 1920 and located at 1655 Ludington St., the property features 97 apartment units and 21 office suites. Dan Bowar of Marcus & Millichap represented the seller, Three Sixty Real Estate Solutions, and procured the buyer, Ruesch Management Inc. The buyer plans to renovate the unoccupied street-level retail space.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaMixed-UseMultifamilySoutheast

Miami-Dade County Approves $880M Mixed-Use Development in Miami’s West Little River District

by John Nelson

MIAMI — Miami-Dade County has approved the development of The HueHub, an $880 million mixed-use development in Miami’s West Little River district. Spanish-based developer Pablo Castro is teaming up with locally based Laura Tauber to lead the development. Situated on 12 acres at 8395 N.W. 27th Ave., The HueHub is slated to add more than 4,000 “attainably priced” apartments across seven 35-story towers. Residences will be fully furnished, with monthly rents starting at approximately $1,300 for a studio, $1,600 for a one-bedroom unit and $1,900 for two-bedroom units. The project will also feature nearly 200,000 square feet of interior amenities such as a learning center, communal areas, dedicated workspaces, laundry services and an urgent care facility, as well as a two-acre park. The design-build team includes Arquitectonica, Coastal Construction, Bilzin, Greenberg Traurig LLP and Franyie Engineers. The development team plans to break ground on The HueHub by the end of the year. According to multiple media outlets, the development is one of the largest to utilize Florida’s Live Local Act, which is legislation passed in 2023 to support the development of affordable and workforce housing.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMississippiSoutheastStudent Housing

Deven Group, Kayne Anderson Break Ground on 755-Bed Student Housing Community Near University of Mississippi

by John Nelson

OXFORD, MISS. — Development Ventures Group (Deven Group) and Kayne Anderson Real Estate have broken ground on a 755-bed student housing community located within a half-mile of the University of Mississippi’s (Ole Miss) campus. Situated on Anderson Road, the 243-unit property represents the first large-scale student housing project to be built within a mile of the Ole Miss campus since 2018. The design-build team includes BirdDog/Christa Development, Baker Barrios Architects and Montgomery Martin Contractors. BMO Bank is providing an undisclosed amount of construction financing. Set for completion in summer 2027, the unnamed community will span 370,000 square feet and offer one-, two-, three- and four-bedroom units. Amenities will include a resort-style pool with cabanas, jumbotron, beach volleyball court, pickleball court, indoor/outdoor fitness center, sauna, cold plunge, private study areas, sport simulator, a yoga/spin studio, food truck court and a 3,000-square-foot events venue.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMultifamilySoutheastTennessee

McShane Begins Construction on 315-Unit Declan Hermitage Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — McShane Construction Co.’s Nashville office has begun construction on Declan Hermitage, a 315-unit apartment development located in Nashville ’s Hermitage neighborhood. Flournoy Development Group is developing the community, which will comprise six garden-style apartment buildings on a 15-acre site. Units at Declan Hermitage will be offered in one- to three-bedroom layouts. Designed by Dynamik Design, Declan Hermitage’s amenities will include a clubhouse, pool and sun deck, grill stations, fire pits, a dog park and a car wash. Flournoy and McShane expect to complete the community by June 2027. The duo are developing three other properties in the Southeast: Ellison Cool Springs in Franklin, Tenn., and District Eastside and District South in Greenville, S.C.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaMultifamilySoutheast

Marcus & Millichap Brokers Sale of 280-Unit Apartment Community in Southwest Atlanta

by John Nelson

ATLANTA — Marcus & Millichap has brokered the sale of Central Park Apartments, a 280-unit community located at 2900 Camp Creek Parkway in southwest Atlanta. Built in 1969, Central Park sits on a 23-acre lot near Hartsfield-Jackson Atlanta International Airport in the city’s Camp Creek neighborhood. The property comprises 143 one-bedroom and 137 two-bedroom apartments. Scott Spalding of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Marco Welch, also with Marcus & Millichap, procured the value-add buyer. Both parties requested anonymity. Marcus & Millichap’s Joe Mitchell helped facilitate the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaMarket ReportsMultifamilyWesternWestern Market Reports

Phoenix Multifamily Market: Resilient Demand, Shifting Dynamics

by John Nelson

— By Brett Meinzer of MMG Real Estate Advisors — Despite ongoing challenges, Phoenix’s multifamily market is showing signs of stabilization and strength in key areas. Record Demand, Even in a Cooling Market In first-quarter 2025, net absorption reached 5,149 units, more than double the 10-year quarterly average and the second-highest quarterly total on record. On a 12-month basis, the market absorbed 18,413 units, setting a new high. “We’re seeing demand return to peak levels,” said Brett Meinzer, advisor at MMG Real Estate. “The number of units leased in the last year shows Phoenix’s long-term story remains intact.” Supply Is Slowing, Signaling Potential Stabilization While new supply remains elevated, the pace is shifting. First-quarter deliveries declined 36 percent from the prior quarter, and the development pipeline is now nearly 50 percent below its recent peak. “After years of heavy deliveries, the pipeline is thinning,” Meinzer said. “This pullback could help stabilize rent and occupancy rates as we head into 2025.” Rent Trends Still Negative But Improving Phoenix’s effective rent currently stands at $1,560, down 2.3 percent year over year, with average occupancy at 91.9 percent. Rent softness is largely driven by concessions and intense lease-up competition from new construction. However, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts