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Multifamily

DevelopmentIllinoisMidwestMultifamily

MBG Nears Completion of 144-Unit Luxury Apartment Project in Metro St. Louis

by Kristin Harlow

GLEN CARBON, ILL. — Builder MBG is nearing completion of Latitude 38 Apartments in Glen Carbon, about 14 miles northeast of St. Louis. Mia Rose Holdings is developing the 144-unit luxury apartment project, which is slated to open in May. The community is part of the larger Meridian Plaza, a 44-acre mixed-use development. Amenities at Latitude 38 will include a pool, clubhouse, fitness center, dog park, walking trails, grills and electric vehicle charging stations. Kunkel Wittenauer is handling leasing efforts.

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AcquisitionsMidwestMultifamilyNebraska

Eastham Capital, Bender Cos. Acquire 258-Unit Multifamily Community in Omaha

by Kristin Harlow

OMAHA, NEB. — A joint venture between Eastham Capital and Bender Cos. has acquired The Colonial, a 258-unit apartment community in Omaha. Eastham obtained a majority ownership in the deal through its current fund, Eastham Capital Fund VI LP. Bender, which has co-invested and partnered with Eastham on multiple projects, will oversee the day-to-day management. Parker Stewart and Alex Malzone of Northmarq brokered the sale. The Colonial is currently 95 percent occupied with average rents of just over $961 per month. the acquisition includes a renovation budget of $1.9 million, which will include interior unit renovations and exterior upgrades such as roof replacements, balcony repairs and parking lot enhancements. Built in 1967, the property features floor plans averaging 902 square feet. Amenities include an outdoor pool, community room, laundry facilities and storage lockers.

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LoansMultifamilyTexas

Sunrise Realty Trust Provides $46.5M in Financing for New Dallas Apartment Building

by Taylor Williams

DALLAS — South Florida-based Sunrise Realty Trust (NASDAQ: SUNS) has provided $46.5 million in financing for The Boheme, a 352-unit apartment building in Dallas. The financing is part of a $62 million senior loan that refinances the property, which is owned by San Antonio-based Kairoi Residential. The Boheme is an eight-story building in the Bishop Arts District that was completed in 2023. Units come in studio, one- and two-bedroom floor plans, according to Apartments.com, and amenities include a rooftop pool, coworking lounge with private meeting rooms, courtyards and a game lounge.

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DevelopmentMultifamilyTexas

Trademark to Develop 321-Unit Multifamily Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. will develop Westbend Residences, a 321-unit multifamily project that will be located in Fort Worth’s University District. The site spans 3.5 acres within Trademark’s Westbend mixed-use development that fronts the Clear Fork Trinity River. Units will come in one-, two- and three-bedroom floor plans, and a few penthouses will also be available on the top floor.  Amenities will include two elevated resort-style pools, a fitness center and a dog spa, as well as 4,500 square feet of retail space. Construction is set to begin in the second quarter and to be complete in late 2026.

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1001-Ross-Dallas
AcquisitionsMultifamilyTexas

Discover Multifamily, Rainier Acquire 204-Unit Property in Downtown Dallas

by Taylor Williams

DALLAS — A partnership between two locally based investment firms, Discover Multifamily and Rainier Cos., has acquired 1001 Ross, a 204-unit apartment building in the historic West End area of downtown Dallas. The mid-rise property, which was built in 2004 and includes 30,506 square feet of retail space, offers one- two- and three-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining stations, coffee bar, resident lounge and a coworking space. The seller and sales price were not disclosed. The new ownership plans to implement a value-add program and rebrand the property as The Griffin.

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DevelopmentMultifamilySeniors HousingTexas

EGRE Nears Completion of Renovation of 140-Unit Seniors Housing Complex in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — The Endeavor Group Real Estate (EGRE), a Wyoming-based firm, is nearing completion of the renovation of a 140-unit seniors housing complex in Fort Worth. The property at 8000 Calmont Ave., which is located in the Las Vegas Trail submarket on the city’s west side, is now known as Manor Independent Living. The renovation, which began about a year ago following EGRE’s acquisition of the property, serves to increase the community’s affordability. Leasing is now underway, with rents starting at $1,900 per month, a price that includes three meals per day. Residents will also have access to round-the-clock medical care.

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CaliforniaLoansMultifamilyWestern

Priority Capital Advisory Arranges $21M Land, Predevelopment Loan for 241-Unit Multifamily Project in Los Angeles

by Amy Works

LOS ANGELES — Priority Capital Advisory has arranged a $21 million land and predevelopment loan for the recapitalization of a 2.1-acre site on behalf of Grubb Properties. Located at 1000 S. Vermont St. in Los Angeles’ Koreatown neighborhood, the fully entitled development is the site of Link Apartments Kora, a planned mixed-use multifamily project. Once completed, the seven-story project will offer 241 apartments and 50,630 square feet of ground-floor retail space. Grubb Properties acquired the parcel in February 2022 and has performed demolition and preparation on the site that is now shovel-ready with vertical construction slated to begin in September and completion scheduled for July 2028. Link Apartments Kora will feature 36 studio units (two affordable), 123 one-bedroom/one-bath units (six affordable) and 82 two-bedroom/two-bath units (four affordable). Community amenities will include a half-acre deck, pool, spa, fitness center, coworking space, two lounges, two rooftop decks and a dog run and wash. Grubb Properties’ Link Apartments brand is aimed at servicing the essential housing crisis in the United States. Link Apartments are focused on intelligent design and desired resident amenities that provide a lower cost, urban infill living opportunity.

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DevelopmentMidwestMultifamilyOhio

Milhaus, Parse Capital Break Ground on 306-Unit Multifamily Property in Springdale, Ohio

by Kristin Harlow

SPRINGDALE, OHIO — Milhaus has partnered with Parse Capital to break ground on Slate, a 306-unit multifamily property in Springdale near Cincinnati. Located at 505 W. Crescentville Road, Slate will feature 216 garden-style apartment units and 90 townhomes across 22 buildings. Amenities will include a resident lounge, pool, coffee bar, fitness center and bark park. First Financial Bank is providing financing for the development, which marks Milhaus’ second project in Springdale following Array in 2023. Construction of Slate is slated for completion in spring 2026.

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AcquisitionsIndianaMidwestMultifamily

PRP Acquires 218-Unit Cosmopolitan on the Canal Apartment Complex in Indianapolis

by Kristin Harlow

INDIANAPOLIS — PRP has acquired Cosmopolitan on the Canal, a 218-unit Class A apartment complex located along the Central Canal in downtown Indianapolis. The purchase price was undisclosed. Constructed in 2010, the community’s interiors remain in their original condition and will undergo a comprehensive renovation. The property is situated in the Canal Walk District and features a waterfront setting.

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LoansMultifamilyNew YorkNortheast

QuadReal Property Group Provides $49.5M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — QuadReal Property Group has provided a $49.5 million loan for the refinancing of Arris Grand, a 113-unit apartment building in the Clinton Hill area of Brooklyn. The nine-story building was completed in 2024 includes three retail suites totaling 7,127 square feet. Units come in studio, one- and two-bedroom floor plans, and 34 units are reserved as affordable housing. Amenities include a rooftop terrace with grilling and dining stations, fitness center, media and gaming lounges, coworking and study spaces and a pet spa. Alan Blank, Zach Kraft and Gideon Gil from Cushman & Wakefield arranged the fixed-rate loan on behalf of the borrower, Haussmann Development.

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