Wednesday, August 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

ROAN-Steamboat-Springs-CO
ColoradoDevelopmentLoansMultifamilyWestern

Newmark Arranges $63M Construction Loan for Multifamily Project in Steamboat Springs, Colorado

by Amy Works

STEAMBOAT SPRINGS, COLO. — Newmark has arranged a $63 million construction loan for the development of the first phase of ROAN Steamboat Springs, a multi-phased, lift-serviced residential community within Wildhorse Meadows in Steamboat Springs. The borrower is a Steamboat Meadows LLC, a partnership between RAL Development Services, KZ Capital and Latitude Investment Properties. Jordan Roeschlaud, Jonathan Firestone, Nick Scribani and Tim Polglase of Newmark Debt & Structured Finance arranged the financing with Builders Capital. Ryan Shattuck and Jon Wade of The Steamboat Group are marketing the property.

Continue Reading
FacebookTwitterLinkedinEmail
553-555-Victoria-St-Costa-Mesa-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Negotiates $8.6M Sale of Multifamily Property in Costa Mesa, California

by Amy Works

COSTA MESA, CALIF. — CBRE has negotiated the $8.6 million sale of a 13-unit property at 553 and 555 Victoria St. in Costa Mesa, about 40 miles south of Los Angeles. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE represented the Costa Mesa-based private seller. The 1031 buyer is a private investor based in Huntington Beach, Calif. The property was on the market for the first time in approximately 47 years. Located on a 0.8-acre lot, the property contains 10 buildings with 13,712 square feet of rentable space. The unit mix includes eight two-bedroom cottages (built in 1962) and five three-bedroom townhomes (built in 1990), each with a private backyard.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing Completes 160-Unit Affordable Seniors Housing Community in Naples, Florida

by John Nelson

NAPLES, FLA. — McDowell Housing Partners (MHP) has completed the construction of Ekos Cadenza, a 160-unit affordable seniors housing community in Naples. This marks MHP’s second phase of development at the site. The first phase, which also comprises 160 units of affordable housing for seniors, opened in October 2024. Totaling five stories, Ekos Cadenza features studio, one- and two-bedroom residences ranging from 527 to 1,007 square feet. Amenities include a swimming pool, wet bar, fitness center, game room, media center, pickleball court and clubhouse. The Healthcare Network of Southwest Florida will provide onsite healthcare services to residents, with Collier County administering a daily meal program. Nineteen apartments will be reserved for seniors earning at or below 30 percent of the area median income (AMI), and 119 units will be reserved for seniors earning at or below 60 percent of AMI. Monthly rents will range from $529 to $1,406.

Continue Reading
FacebookTwitterLinkedinEmail
Trulee-Evanston-Illinois
IllinoisLoansMidwestSeniors Housing

PGIM Real Estate Provides $50M in Financing for 160-Unit Senior Living Community in Metro Chicago

by Abby Cox

EVANSTON, ILL. — PGIM Real Estate has provided $50 million in floating-rate financing for Trulee Evanston, a 160-unit senior living community located in Evanston, roughly 13 miles north of downtown Chicago. Trace Wilson of PGIM Real Estate led financing efforts on behalf of the borrowers, AEW Capital Management and Solera Senior Living. The nine-story complex features contemporary architecture, technology and a variety of outdoor spaces, as well as independent living, assisted living and memory care services. Amenities at Trulee Evanston include an outdoor deck, bar, fire pit, hair salon and a fitness center.

Continue Reading
FacebookTwitterLinkedinEmail
Arlington Village
AcquisitionsIndianaMidwestMultifamily

Marcus & Millichap Negotiates Sale of 80-Unit Multifamily Property in Indianapolis

by Abby Cox

INDIANAPOLIS — Marcus & Millichap has facilitated the sale of Arlington Village, an 80-unit multifamily property located in Indianapolis. Originally built in 1963, the complex comprises 20 one-bedroom and 60 two-bedroom apartments across eight buildings. Renovations to the property will include cosmetic updates and capital improvements, as well as the utilization of basement space. The buyer also plans to convert some of the larger two-bedroom units into three-bedrooms. Jack Friskney and Aaron Kuroiwa of Marcus & Millichap’s Indianapolis office marketed Arlington Village on behalf of the seller and procured the buyer, both based in New York. The sales price was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
22-unit multifamily property
LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $1M Permanent Loan for 22-Unit Multifamily Property in Detroit

by Abby Cox

DETROIT — Bernard Financial Group (BFG) has arranged a $1 million permanent loan for a 22-unit multifamily property located in Detroit. The name of the property was not disclosed. Josh Bernard of Bernard Financial Group originated the loan on behalf of the borrower, an entity doing business as Pilgrim Villa LLC. One of BFG’s correspondent life company lenders provided the loan.

Continue Reading
FacebookTwitterLinkedinEmail
Court-Square-Queens
DevelopmentLoansMultifamilyNew YorkNortheast

Charney, Tavros Receive $525M in Construction Financing for 55-Story Multifamily Tower in Queens

by Taylor Williams

NEW YORK CITY — A partnership between two locally based firms, Charney Cos. and Tavros, has received $525 million in construction financing for a 55-story multifamily tower that will be located in the Long Island City area of Queens. Greystone arranged the financing, which consists of $425 million in debt from Madison Realty Capital and $100 million in equity from Kushner and OneIM. Plans call for 636 condos in studio, one-, two- and three-bedroom formats, as well as Class A amenities and retail space that will be occupied by grocery and fitness users. A formal name for the project, which will be located at 24-19 Jackson Ave. and 45-03 23rd St. in the Court Square area, has not yet been determined. FXCollaborative designed the building, completion of which is slated for 2028.

Continue Reading
FacebookTwitterLinkedinEmail
The-Glen-Heather-Farm-Walnut-Creek-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Continuing Life Underway on 354-Unit Seniors Housing Community in Walnut Creek, California

by Amy Works

WALNUT CREEK, CALIF. — Continuing Life LLC is currently underway on the development of The Glen at Heather Farm, a new seniors housing community in Walnut Creek. Upon completion, the property will total 354 units in the form of both apartments and single-story homes. In addition to independent living, the community will offer assisted living and memory care services, as well as long-term care options at an adjacent health center. Amenities at the property will include multiple dining venues, a health spa, aquatic center, theaters and pickleball and tennis courts.  The Glen at Heather Farm is scheduled to open in late 2027 or early 2028.

Continue Reading
FacebookTwitterLinkedinEmail
70-Central-Lofts-Jersey-City
AcquisitionsMultifamilyNew JerseyNortheast

Kislak Arranges $20M Sale of Jersey City Apartment Building

by Taylor Williams

JERSEY CITY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $20 million sale of 70 Central Lofts, a 31-unit apartment building in Jersey City. Completed in 2024, the five-story building includes a 32-space parking garage and a 1,696-square-foot retail space, as well as 7,000 square feet of amenity space. Davis Briones of Kislak represented the seller, Legacy Development, in the transaction and procured the buyer, an entity doing business as 70 Central Lofts LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Conference CoverageFeaturesStudent HousingTexasTexas & Oklahoma Feature Archive

InterFace: Today’s Successful Student Housing Developments Pair Great Site Selection with Efficient Design

by John Nelson

AUSTIN, TEXAS — It’s no secret that finding and entitling sites and procuring development financing has been challenging over the past few years. But Kevin Kazlow, director of capital markets with JLL, who moderated one of the development panels at this year’s InterFace Student Housing conference in Austin, Texas, believes there is lots to be excited about for the year ahead. Chief among them is the fact that the amount of capital allocated to alternative asset classes like student housing has doubled since 2018.  “This group of panelists alone has a combined pipeline of about 40,000 beds under development, which is an incredibly impressive statistic and speaks to the continued demand for new student housing projects,” said Kazlow. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The first step in the development process is securing a great site, which Brandt Stiles, principal with Subtext, considers part of his firm’s ‘secret sauce.’ “We have a really high expectation for our team to find super high barrier to entry, hard to entitle, fortress sites and for us, it’s all about being …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts