Tuesday, November 4, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

AcquisitionsMultifamilySoutheastVirginia

Milestone Group Acquires 870-Unit Multifamily Portfolio in Northern Virginia

by John Nelson

FAIRFAX, VA. — The Milestone Group, a multifamily investment firm with offices in Dallas, Atlanta and Boca Raton, Fla., has purchased a three-property multifamily portfolio totaling 870 units in Northern Virginia’s Fairfax County. The value-add portfolio includes The Ellipse at Fairfax Corner in Fairfax (404 units), Windsor at Fair Lakes in Chantilly (250 units) and The Townes at Herndon Center in Herndon (216 units). Milestone Group acquired the portfolio via its discretionary value-add fund, Milestone Real Estate Investors V LP, in an off-market transaction through a loan assumption, which Milestone Group said saved $20 million in prepayment costs. The sellers, Hampshire Properties and Rose Valley Capital, sold the portfolio for an undisclosed price. Melnick Real Estate Advisors brokered the transaction. Milestone Group plans to make amenity enhancements and luxury upgrades to the unit interiors across the three assets.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingConference CoverageFeaturesGeorgiaMultifamilySoutheastSoutheast Feature Archive

Interest Rate Volatility Will Slow Multifamily Investment Activity in 2023, Says InterFace Panel

by John Nelson

ATLANTA — A lot can happen in a year. This time a year ago, the 10-year Treasury yield was at 1.489 percent, the federal funds rate was at a range of 0 to 0.25 percent and SOFR was at 0.05 percent. As of this writing, those three benchmark interest rates are at 3.527 percent, 3.75 to 4 percent and 3.82 percent, respectively — none of which are within 200 basis points from a year ago. Debt capital has become decisively more expensive, and officials at the Federal Reserve are signaling that more rate hikes are coming. For the U.S. multifamily sector, the result is that investors are increasingly becoming “pencils down” until interest rates find their footing. “We haven’t had much [investment] sales volume, as you can imagine, in the third or fourth quarter,” said Bennett Sands, managing development director at Wood Partners, an Atlanta-based apartment developer. “Looking ahead, our sales volume in 2023 will be down 50 percent [from 2022], if we’re lucky.” “It has been pretty quiet the past few months, and we expect that to continue for the next few months as well,” added Andrew Zelman, vice president of acquisitions at GID, a multifamily and mixed-use developer …

Continue Reading
FacebookTwitterLinkedinEmail
Ivy-Lofts-Pearland
DevelopmentMultifamilyTexas

Sueba USA Breaks Ground on 335-Unit Ivy Lofts Apartments in Metro Houston

by Taylor Williams

PEARLAND, TEXAS — Locally based developer Sueba USA has broken ground on Ivy Lofts, a 335-unit apartment community that will be located in the southern Houston suburb of Pearland. The property will offer studio, one-, two- and three-bedroom floor plans ranging in size from 480 to 1,280 square feet. Residences will be furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities will include a pool, fitness center, coffee bar, multimedia center, catering kitchen and package lockers. Completion is slated for late 2023.

Continue Reading
FacebookTwitterLinkedinEmail
2538-Durant-Ave-Berkeley-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

Valiance Capital Buys Development Site for 270-Bed Student Housing Community Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — Valiance Capital has acquired a development site at 2538 Durant Ave. near the University of California, Berkeley campus. The company plans to replace an existing 12-unit apartment building on the site with an eight-story community offering 270 beds across 83 units. The development is also set to include 5,000 square feet of ground-floor retail space. Jeffrey Eliason and Leland Ortega of Highland Realty Capital arranged $10.5 million in acquisition and pre-development funding on behalf of Valiance. Chris Hetzel of ACRES’ Philadelphia office originated the loan. “2538 Durant is going to help transform the Berkeley city skyline and provide an incredible opportunity to address a substantial housing need for students,” says Nhan Nguyen Le, principal and founder of Valiance Capital. Further details on the project, including a timeline for the development, were not announced.

Continue Reading
FacebookTwitterLinkedinEmail
Vestra-Las-Vegas-NV
DevelopmentMultifamilyNevadaWestern

Matter Real Estate Plans 352-Unit Vestra Apartments in Southwest Las Vegas

by Amy Works

LAS VEGAS — Matter Real Estate Group is entering the residential real estate market with the planned development of Vestra, a multifamily property situated within its 40-acre UnCommons mixed-use community in southwest Las Vegas. Vestra will feature 352 apartments in a mix of studio, one-bedroom/one-bath, two-bedroom/two-bath and three-bedroom/two-bath layouts spread across three midrise towers. Each residence will offer quartz countertops, modern flat-panel cabinets, walk-in closets, washers/dryers and private lockers for a dry-cleaning service. Onsite amenities will include a pool house; resort-style pool with cabanas; fireplaces and barbecues; indoor/outdoor fitness center; lawn space; pet spa; coworking spaces; flex lounge; and media rooms. The property will also feature a 100 percent controlled access parking garage with electric vehicle charging stations. The community is slated to welcome residents early next year. EDI International designed the building with interiors by Jules Wilson Design Studio.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsBuild-to-RentMultifamilyNevadaSingle-Family RentalWestern

Banyan Residential Acquires Banyan Brighton Rental Townhomes in Las Vegas for $61M

by Amy Works

LAS VEGAS — Los Angeles-based Banyan Residential has acquired its first property in the Las Vegas market with the purchase of Banyan Brighton, a build-to-rent townhome community currently under construction, for $61 million. Additional terms of the transaction were not released. Upon completion, Banyan Brighton will feature 133 two- and three-bedroom townhomes ranging from 1,396 to 1,479 square feet. Each residence will feature an attached two-car garage, first-class finishes and private outdoor living space. The property is located within the 1,000-acre Skye Canyon master-planned community, which offers a 10,000-square-foot indoor fitness facility, modern clubhouse, five-acre sports field, full-service coffee shop, outdoor lap pool and five parks, including green spaces, picnic areas, tennis courts and dog parks. Cushman & Wakefield is actively leasing the townhomes as they are completed. Final units are slated for delivery in third-quarter 2023.

Continue Reading
FacebookTwitterLinkedinEmail
La-Serena-Tempe-AZ
AcquisitionsArizonaMultifamilyWestern

Rise48 Equity Purchases 160-Unit La Serena Apartment Community in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Rise48 Equity has purchased La Serena, an apartment property located on seven acres in Tempe, from a private seller for an undisclosed price. Built in 1988 by Mark-Taylor, La Serena features 160 apartments spread across 20 residential buildings. The community features courtyards, a swimming pool and spa, fitness center, shaded barbecue grilling stations and covered parking. Apartments offer full-size washers/dryers, walk-in closets with mirrored doors and private patios or balconies with exterior storage space. Select two-bedroom units have fireplaces. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, and Darrell Moffitt and Paul Bay of Marcus & Millichap represented the seller and procured the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
2534-2548-W-Georgia-Ave-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Marcus & Millichap Brokers Sale of 52-Unit Multifamily Property in Phoenix

by Amy Works

PHOENIX — A private investor has acquired Georgia, a 52-unit apartment community in Phoenix, from a private investor for $8.5 million. Paul Bay and Darrell Moffitt of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the deal. Located at 2534-2548 W. Georgia Ave., Georgia features 26 one-bedroom and 26 two-bedroom residences.

Continue Reading
FacebookTwitterLinkedinEmail
208-216-King-St.-Port-Chester-New-York
DevelopmentMultifamilyNew YorkNortheast

Regency Commercial Receives Approval for 185-Unit Multifamily Project in Port Chester, New York

by Taylor Williams

PORT CHESTER, N.Y. — Locally based developer Regency Commercial has received site plan approval from the Village of Port Chester, located about 30 miles north of Manhattan, for a 185-unit multifamily project. The site spans 221,000 square feet at 208-216 King St. The 12-story building will house studio, one-, two- and three-bedroom units, and amenities will include a rooftop pool, resident lounge, coworking spaces, fitness center and a dog park. About 10 percent of the apartments will be earmarked as affordable housing. Regency is now seeking a partner to either take over or co-develop the property.

Continue Reading
FacebookTwitterLinkedinEmail
FeaturesMultifamily

NAHB Survey Reveals Decline in Developer Confidence in Third Quarter, Forecasts Decrease in 2023 Multifamily Starts

by Jeff Shaw

WASHINGTON, D.C. — Confidence in the market for new multifamily housing development notably declined in the third quarter of 2022, according to results from a survey of 63 multifamily builders conducted by the National Association of Home Builders (NAHB), which is based in Washington, D.C. The survey is conducted quarterly and produces two separate indices — new multifamily production and multifamily rental occupancy in the current versus preceding quarter. “Although demand for multifamily housing remains strong in many parts of the country, some multifamily developers are starting to see signs of a slowdown,” says Sean Kelly, chairman of NAHB’s Multifamily Council. “The ongoing problems of scarcity and high cost of land and materials are making it difficult to go forward with certain projects, particularly affordable housing projects.” Confidence in Multifamily Production Decreases The Multifamily Production Index (MPI) measures builder and developer sentiments regarding current production conditions in the market — including the construction of affordable housing units, market-rate units, and for-sale units or condominiums — on a scale of 0 to 100. A number below 50 indicates that more respondents reported that conditions in the market are worsening than reported conditions are improving. All three components of the MPI saw …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts