Monday, May 5, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

5-Oaks-Houston
AcquisitionsMultifamilyTexas

Berkadia Arranges Sale of 228-Unit Apartment Complex in North Houston

by Taylor Williams

HOUSTON — Berkadia has arranged the sale of 5 Oaks, a 228-unit apartment complex in North Houston. The property offers one- and two-bedroom units that range in size from 464 to 1,043 square feet and feature in-unit washers and dryers and private balconies/patios. Amenities include a clubroom with social areas, pool with a sundeck and cabanas, resident kitchen with a coffee bar, dog park, fitness center, business center and package lockers. Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of Berkadia represented the seller, Los Angeles-based Haven Realty Capital, in the transaction. Johnny King of Berkadia originated acquisition financing on behalf of the buyer, New York-based Lone Star Capital.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySouth CarolinaSoutheast

IMG Purchases Millennium Apartments in Greenville for $64.4M

by John Nelson

GREENVILLE, S.C. — Investors Management Group Inc. (IMG) has purchased Millennium Apartments, a 305-unit multifamily community in Greenville, for $64.4 million, or $211,000 per unit. The seller was not disclosed. Andrea Howard of Northmarq brokered the transaction. Additionally, Northmarq provided a non-recourse, fixed-rate Freddie Mac loan that carries a seven-year term and a four-year interest-only period. In addition to the debt financing, IMG raised $35 million in equity from over 200 investor clients across 20 states to finance the acquisition. Built in 2008, Millennium features one-, two- and three-bedroom units. IMG plans to invest $2.5 million in capital improvements at the property.

Continue Reading
FacebookTwitterLinkedinEmail
LoansLumentMultifamilyTexas

Lument Provides $34.7M Fannie Mae Acquisition Loan for Metro Dallas Multifamily Property

by Taylor Williams

DUNCANVILLE, TEXAS — Lument has provided a $34.7 million Fannie Mae acquisition loan for Wexford Townhomes, a 122-unit multifamily property in Duncanville, a southern suburb of Dallas. The 17-building property was built on nine acres in 1984 and renovated in 2016. Michael Curland of Lument originated the 10-year loan, which carries a fixed interest rate, 30-year amortization schedule and five years of interest-only payments, through Fannie Mae’s Green Rewards program on behalf of the undisclosed borrower.

Continue Reading
FacebookTwitterLinkedinEmail
City-Line-East-Jersey-City
AcquisitionsMultifamilyNew JerseyNortheastWalker & Dunlop

Walker & Dunlop Arranges $85.4M Refinancing of Two Jersey City Apartment Complexes

by Taylor Williams

JERSEY CITY, N.J. — Walker & Dunlop has arranged an $85.4 million bridge loan for the refinancing of City Line East and City Line West, two adjacent apartment complexes totaling 342 units in Jersey City. Both properties are located within the University Place mixed-use development and feature studio, one- and two-bedroom units and Class A amenities. John Banas, Kris Wood, Christopher Philipps, John Wilson, Rhett Saltiel and Erik DiGirolamo of Walker & Dunlop arranged the two-year, fixed-rate loan through an undisclosed debt fund on behalf of the New Jersey-based borrower.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew YorkNortheast

Cushman & Wakefield Brokers $40M Sale of Brooklyn Multifamily Property

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has brokered the $40 million sale of a 63-unit multifamily property located at 223 Fourth Ave. in Brooklyn’s Park Slope neighborhood. The newly constructed, 13-story building houses 18 studios, 34 one-bedroom units, nine two-bedroom apartments and two duplexes. Residences are furnished with quartz countertops, stainless steel appliances, dishwashers and in-unit washers and dryers. Amenities include a lounge with coworking space, rooftop terrace, media room and bike storage space. HUBB NYC acquired the property from Greystone Development. Dan O’Brien, Adam Spies, Adam Doneger and Avery Silverstein of Cushman & Wakefield brokered the deal.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew YorkNortheast

Rosewood Realty Negotiates $6.8M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has negotiated the $6.8 million sale of a five-story building in Brooklyn’s Borough Park neighborhood that comprises four four-bedroom apartments and 6,611 square feet of retail space. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty represented both private investors involved in the deal, which traded at a cap rate of 4.9 percent. The building was originally constructed in 1930.

Continue Reading
FacebookTwitterLinkedinEmail
Stax-Studios-Las-Vegas-NV
AcquisitionsMultifamilyNevadaWestern

Northcap Commercial Brokers $8.6M Sale of Stax Studios Apartment Complex in Downtown Las Vegas

by Amy Works

LAS VEGAS — Northcap Commercial has arranged the sale of Stax Studios, a studio apartment community in downtown Las Vegas. Clark Studio Investar LLLP sold the asset to an undisclosed buyer for $8.6 million, or $196,591 per unit. Built in 1963 and fully renovated in 2019, the property offers 44 studio units. Stax Studios is located at 501 S. 10th St. Devin Lee, Robin Willett and Jerad Roberts of Northcap Commercial represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingLoansMidwestMultifamilyWisconsin

Associated Bank Structures $15.6M in Financing for Affordable Housing Renovation Project in Milwaukee

by Kristin Harlow

MILWAUKEE — Associated Bank has structured a $6 million construction loan and $9.6 million in Low-Income Housing Tax Credit equity for the renovation of Townhomes at Carver in Milwaukee. The affordable housing community consists of 35 buildings. The Housing Authority of the City of Milwaukee originally developed the 122-unit property in 2001. Of the 122 units, 102 are restricted to households earning 30 to 60 percent of the area median income and 20 units are market rate. Additionally, 51 units benefit from a project-based Section 8 contract. Improvements will include new flooring; updates of bathroom and kitchen cabinets, countertops and fixtures; replacement of furnaces, air conditioners and hot water heaters; and window, siding and roofing updates. Completion is slated for 2023. Stefanie Bachrach and Teresa Rubio of Associated Community Development LLC, the bank’s community development corporation, managed the current loan and equity closings.

Continue Reading
FacebookTwitterLinkedinEmail
IowaLoansMidwestMultifamily

Marcus & Millichap Capital Corp. Arranges $13.5M Loan for Refinancing of Iowa Apartment Building

by Kristin Harlow

WATERLOO, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.5 million loan for the refinancing of Art Bloc in Waterloo, a city in northeast Iowa. The newly built, six-story building features 67 apartment units and 7,400 square feet of commercial space that is fully leased to an architecture firm. Robert Bhat of MMCC arranged the senior debt financing. The Fannie Mae loan features a 75 percent loan-to-value ratio, a fixed interest rate of 4.75 percent for 10 years, five years of interest-only payments and a 30-year amortization schedule.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndianaMidwestMultifamily

Kiser Group Brokers $4M Sale of Apartment Building in Whiting, Indiana

by Kristin Harlow

WHITING, IND. — Kiser Group has brokered the $4 million sale of City Place Apartments in Whiting, a city located on the southern shore of Lake Michigan about 16 miles from the Chicago Loop. Constructed in 2015, the four-story building features 24 units. Ron Plonis, Jeff Leibovich and Kyle Sissell of Kiser brokered the transaction. The out-of-state buyer assumed the debt on the property and expects to increase rents as units turn over.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts