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Multifamily

AcquisitionsLoansMidwestMissouriMultifamily

Gantry Arranges $11.5M Acquisition Loan for Kansas City Multifamily Property

by Kristin Harlow

KANSAS CITY, MO. — Gantry has arranged an $11.5 million loan for the acquisition of The Life at Highland Village multifamily property in Kansas City’s Lewis Heights neighborhood. The 200-unit garden-style community includes 11 buildings with a mix of one- and two-bedroom floor plans. Most units feature recent appliance upgrades and new finishes. Amenities include a grass-covered open space, pool, playground and dog park. Mark Reichter and Alex Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. An insurance company lender provided the three-year, fixed-rate loan, which features an upfront interest-only period followed by a 30-year amortization.

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Affordable HousingDevelopmentMidwestMissouriMultifamily

Guadalupe Centers Delivers 50-Unit Affordable Housing Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Guadalupe Centers Inc. (GCI) has opened Villa View Apartments, an affordable housing community designed for teachers and local families in Kansas City. Situated on the southeast corner of GCI’s Villa Guadalupe school campus at 1616 Hardesty Ave., the four-story development features 50 units, 42 of which are designated as affordable housing for households earning up to 60 percent of the area median income. The remaining apartments are offered at market rates. Community amenities include a business center, community room, courtyard, rooftop patio and picnic areas. Built in compliance with Enterprise Green Communities and the 2021 International Energy Conservation Code, the property is energy efficient and fully electric. Residents will benefit from services provided free of charge by GCI. These include youth education, after-school programs, financial literacy, tax preparation, health screening, cultural community events, mental health counseling, job training and food pantries. GCI partnered with Riverstone Platform Partners as co-developers. The project team included Altman-Charter Co. as general contractor, SLATTERY Design + Architecture as the architect of record and Beacon Management LLC as the property manager. The development was financed in part with $12.5 million in federal Low-Income Housing Tax Credits (LIHTC) syndicated by Hunt Capital Partners …

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Riverwalk-Elmwood-Park-New-Jersey
LoansMultifamilyNew JerseyNortheast

JLL Arranges $131.1M Bridge Loan for Northern New Jersey Multifamily Property

by Taylor Williams

ELMWOOD PARK, N.J. — JLL has arranged a $131.1 million bridge loan for a 390-unit multifamily property in the Northern New Jersey community of Elmwood Park. The financing covers Phases III and IV of a larger development known as Riverwalk. Units feature a mix of one-, two- and three-bedroom floor plans and range in size from 772 to 2,321 square feet. Riverwalk offers amenities such as a pool, fitness center, outdoor grilling and dining areas, a dog park, riverside nature path, multiple resident lounges and coworking space. Thomas Didio, Thomas Didio Jr., Gerard Quinn, Michael Mataras and Tyler Caricato of JLL arranged the five-year, floating-rate loan through MF1 Capital. A private real estate company headed by Bernard Langan owns Riverwalk.

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AcquisitionsAffordable HousingMultifamilyNew JerseyNortheast

PRC Acquires 150-Unit Affordable Housing Complex in Paulsboro, New Jersey, Plans Renovation

by Taylor Williams

PAULSBORO, N.J. — New York-based investment firm PRC has acquired Paulsboro Gardens Apartments, a 150-unit affordable housing complex located outside of Philadelphia in Southern New Jersey. The property comprises 21 low-rise buildings. PRC plans to undertake accessibility upgrades, interior unit renovations and exterior improvements, as well as improve mechanical and utility systems, to extend the property’s affordability status. The seller and sales price were not disclosed.

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Bear-Hollow-Estates-Rancho-Cordova-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Hawthorn Senior Living Opens 149-Unit Independent Living Community Near Sacramento

by Amy Works

RANCHO CORDOVA, CALIF. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento. Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard. This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities. 

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The-Commodore-National-City-CA
AcquisitionsCaliforniaMultifamilyWalker & DunlopWestern

Gelt Venture Partners Buys 92-Unit Multifamily Community in National City, California

by Amy Works

NATIONAL CITY, CALIF. — Gelt Venture Partners has acquired The Commodore, an apartment property located at 200-250 E. 31st St. in National City, for $40 million. Built in 2024, The Commodore comprises six three-story buildings offering a total of 92 studio, one- and two-bedroom floor plans with select units featuring two-story and loft-style layouts. At the time of sale, the property was 96 percent occupied. Units feature in-unit washers/dryers, quartz countertops, designer tile backsplashes, wood-style plank flooring, European-style cabinetry, stainless steel appliances and private balconies. Community amenities include a resort-style pool and spa, clubhouse, an outdoor lounge with fire pit, barbecue areas, electric vehicle charging stations, detached garages and an onsite leasing office. Hunter Combs of Walker & Dunlop represented the buyer and undisclosed seller in the deal.

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DevelopmentIllinoisMidwestMultifamily

Vista Property, Skender Break Ground on 32-Story Apartment Tower in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Developer Vista Property and general contractor Skender have broken ground on a 32-story apartment tower at 370 N. Morgan St. in Chicago’s Fulton Market neighborhood. Designed by Antunovich Associates, the 539,000-square-foot property will feature 494 units, including 99 affordable housing units. Floor plans will range from studios to two bedrooms. A residential lobby, leasing offices and 4,500 square feet of retail space will make up the ground floor. A parking podium with 192 spaces, 20 percent of which will have electric vehicle charging capabilities, will extend from floors two to four. The exterior aesthetic is inspired by a modern Mies van der Rohe design. Outdoor amenities will include a 30th-floor pool deck, yoga terrace, fire pits and outdoor grill kitchens. Inside, residents will have access to a fitness center, coworking areas, a lounge, private event and dining rooms, a golf simulator and various common areas. A new landscaped plaza will front the intersection of Kinzie and Morgan streets. In late 2024, demolition on the site began with the removal of the old single-story Fox Deluxe Foods building. The apartment tower is slated for completion in the second quarter of 2027. The project team includes DeSimone as the structural …

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AcquisitionsMidwestMissouriMultifamily

Bow River Capital Acquires 212-Unit Brookside Commons Multifamily Community in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Bow River Capital, a Denver-based alternative asset management firm, has acquired Brookside Commons in Kansas City. Located near the Country Club Plaza, the 212-unit multifamily community was built in 2023. The transaction, which marks Bow Capital’s third multifamily acquisition in the Kansas City market, was completed at more than a 24 percent discount on today’s replacement cost. Berkadia originated acquisition financing through Fannie Mae. The seller and sales price were not provided.

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DevelopmentMixed-UseMultifamilySouth CarolinaSoutheastStudent Housing

Core Spaces to Break Ground on 2,350-Bed Mixed-Use Development Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — Core Spaces is set to break ground on ōLiv Columbia, a 2,350-bed mixed-use development located at 1401 Main St. near the University of South Carolina campus in Columbia. The project will include two towers: one 27-story building offering market-rate apartments and a 22-story student housing tower. The property will also feature a 1,600-space parking garage and retail space on the ground level. Construction is expected to begin this fall with completion scheduled for summer 2028. The development team includes Juneau Construction Co. and Dwell Design Studios.

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Build-to-RentGeorgiaLoansMultifamilySingle-Family RentalSoutheast

Dwight Mortgage Trust Funds Loans for Two New Build-to-Rent Communities in Georgia Totaling $44.3M

by John Nelson

AUBURN AND PORT WENTWORTH, GA. — Dwight Mortgage Trust has financed two bridge loans totaling $44.3 million for two new build-to-rent (BTR) communities in Georgia. The assets include The Station at Kentmere in Auburn and Waterside at Rice Hope in Port Wentworth. The borrower was ARK Homes for Rent. The Station at Kentmere is a 149-unit townhome community featuring three-bedroom residences, all with one-car garages and two-and-a-half bathrooms. Amenities include a modern clubhouse with an indoor lounge, fitness center, resort-style pool with sun deck, outdoor entertainment and picnic areas and grilling stations. Waterside at Rice Hope comprises 103 three-bedroom townhomes, each with two-and-a-half-bathrooms and one-car garages. Amenities include a clubhouse, playground, lap pool, lazy river, fishing pond and grilling areas.

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