Multifamily

ASC Begins Construction on 377-Unit Seniors Housing Community in Athens, Georgia

by John Nelson July 31, 2025

ATHENS, GA. — Active Senior Concepts (ASC) has broken ground on Celebration Village Athens, a new senior living community in Athens, roughly 80 miles northeast of Atlanta and home of the University of Georgia. Upon completion, the development will total 377 units, with 96 bungalows, 20 independent living cottages, 70 independent living villas, 96 concierge living apartments, 66 assisted living apartments and 29 memory care suites. Celebration Village Athens will also feature a 30,000-square-foot Celebration Club and 4,000-square-foot spa and wellness center. Other amenities will include pickleball and bocce ball facilities, pavilions with grill stations, fire pits, a putting green, walking paths, community gardens and a private lake, as well as onsite wellness programs, chef-prepared meals and a social calendar. The first phase of the project, which will comprise three-bedroom bungalows, is scheduled for completion in 2026. This marks the fifth Celebration Village community in Georgia, with existing properties located in Peachtree City, Snellville, Forsyth and Acworth.

July 31, 2025

Loans Seniors Housing Southeast West Virginia

BWE Provides $37M Agency Loan for Seniors Housing Community in Charleston, West Virginia

by John Nelson July 31, 2025

CHARLESTON, W.VA. — BWE has provided a $37 million Fannie Mae loan for Harmony at Southridge, a seniors housing community in Charleston that is operated by Harmony Senior Services. Ryan Stoll and Taylor Mokris of BWE originated the 10-year loan on behalf of the borrower, Smith-Packett, Wessex Capital. The loan features five years of interest-only payments and a fixed interest rate. Built in 2020, Harmony at Southridge features independent living, assisted living and secured memory care units, as well as chef-prepared dining options, a therapy gym, movie theater, beauty salon, library and concierge services. The borrower converted 12 independent living units to assisted living in late 2024, according to BWE.

July 31, 2025

Loans Multifamily New York Northeast

Joint Venture Receives $205M Bridge Loan for Brooklyn Apartment Complex

by Taylor Williams July 31, 2025

NEW YORK CITY — A joint venture between two locally based development and investment firms, Domain Cos. and Silverstein Properties, has received a $205 million bridge loan for 420 Carroll Street, a 360-unit apartment complex located in the Gowanus area of Brooklyn. The property consists of two buildings that rise 16 and 21 stories and house 35 studios, 150 one-bedroom units, 64 two-bedroom residences and 20 three-bedroom apartments, 25 percent of which are reserved as affordable housing. Amenities include a resident clubroom and library, media and game room, demonstration kitchen with private dining space, a fitness center with a yoga studio, waterfront park, outdoor grilling and dining areas and a rooftop terrace. The property also features 12,000 square feet of ground-floor retail space, as well as 14,700 square feet of second-floor commercial space. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the loan through global investment management firm AllianceBernstein.

July 31, 2025

Loans Multifamily New Hampshire Northeast

Newmark Provides $143.1M Agency Refinancing of Southern New Hampshire Apartment Community

by Taylor Williams July 31, 2025

DERRY, N.H. — Newmark has provided a $143.1 million Fannie Mae loan for the refinancing of The Fairways, an 849-unit apartment community in Derry, located outside of Manchester near the Massachusetts-New Hampshire border. Built on 108 acres in 1984, the garden-style property features two-, three- and four-story buildings. Units come in one- and two-bedroom floor plans, and amenities include a pool, fitness center, great room, tennis courts, playground and a dog park. Ed Belz led the Newmark team that originated the financing on behalf of the owner, Makor Capital. The debt was structured with an early rate lock on a 10-year term with full-term, interest-only payments and a 35-year amortization schedule.

July 31, 2025

Development Loans Multifamily New Jersey Northeast

JLL Arranges $36M Construction Loan for Central New Jersey Multifamily Project

by Taylor Williams July 31, 2025

SAYREVILLE, N.J. — JLL has arranged a $36 million construction loan for Camelot on Main Street, a 142-unit multifamily project that will be located in the Central New Jersey community of Sayreville. The complex will comprise six buildings that will house 134 market-rate units and eight affordable housing units with an average size of 1,068 square feet. Floor plans were not disclosed, but residences will be furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a fitness center, pool, lounge area with a coffee bar, parcel room, fire pit, barbecue area, playground and a dog park. Michael Klein, Jim Cadranell and John Cumming of JLL arranged the floating-rate loan through Provident Bank on behalf of the developer, Kaplan Cos.

July 31, 2025

Development Multifamily New Jersey Northeast

Connell Co. Tops Out 11-Story Multifamily Project in Berkeley Heights, New Jersey

by Taylor Williams July 31, 2025

BERKELEY HEIGHTS, N.J. — Locally based developer The Connell Co. has topped out RT500, an 11-story multifamily project located within The Park, a 185-acre mixed-use development in the Northern New Jersey community of Berkeley Heights. Minno & Wasko Architects and Planners, in collaboration with David M. Sullivan Inc., designed RT500, which will be one of two buildings at The Park under Connell’s Round Table (RT) Residences brand. Upon completion, which is slated for next summer, the building will offer 179 units and amenities such as an outdoor pool, entertainment lounge, game room, fitness center and coworking space.

July 31, 2025

Acquisitions Massachusetts Multifamily Northeast

Marcus & Millichap Brokers $5M Sale of Cambridge Apartment Building

by Taylor Williams July 31, 2025

CAMBRIDGE, MASS. — Marcus & Millichap has brokered the $5 million sale of a nine-unit apartment building in Cambridge, located across the Charles River from Boston. The three-story building at 323-327 Columbia St. was constructed in 1920 and offers two- and three-bedroom units. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the off-market transaction.

July 31, 2025

Loans Midwest Multifamily Ohio

ACRES Capital Provides $72M Refinancing for Multifamily Portfolio in Columbus, Ohio

by Kristin Harlow July 31, 2025

COLUMBUS, OHIO — ACRES Capital has provided a $72 million loan for the refinancing of the GVX Portfolio, a collection of three multifamily properties in Columbus. The assets include 8 on the Park, Midpoint East and Midpoint West. The portfolio features 347 units and 51,138 square feet of retail space that are part of a larger development known as Grandview Crossing. Thrive Cos. was the borrower.

July 31, 2025

Affordable Housing Development Indiana Midwest Multifamily

The Community Builders Breaks Ground on 57-Unit Affordable Housing Community in Indianapolis

by Kristin Harlow July 31, 2025

INDIANAPOLIS — The Community Builders (TCB) and the Mapleton Fall Creek Development Corp. (MFCDC) have broken ground on Central@29, a new $19.5 million affordable housing development to be built on the corner of 29th Street and Central Avenue in Indianapolis. The four-story community will feature 57 units in the city’s Mapleton Fall Creek neighborhood. Eleven homes will be reserved for individuals emerging from homelessness. Units will range from 675 to 1,200 square feet. Income restrictions for individuals and families range from $17,000 to $70,000 per year. Residents will have access to supportive services from partners such as Raphael Health Center. In 2023, MFCDC was awarded Low-Income Housing Tax Credits from the Indiana Housing and Community Development Authority (IHCDA). Over a 10-year period, the MFCDC will receive $10 million in tax credits to support Central@29. Additional costs will be supported by the Department of Metropolitan Development HOME and Community Development Block Grants, the city’s Housing Trust Fund, the IHCDA Housing Trust Fund, the Indiana Development Fund and development loans sourced through The Urban League and the Indianapolis African American Quality of Life Initiative. Construction of Central@29 is slated for completion by winter 2026.

July 31, 2025

Acquisitions Midwest Multifamily Wisconsin

Marcus & Millichap Brokers Sale of 90-Unit Apartment Property in De Pere, Wisconsin

by Kristin Harlow July 31, 2025

DE PERE, WIS. — Marcus & Millichap has brokered the sale of Crow’s Nest Apartments, a 90-unit apartment property in De Pere near Green Bay. The sales price was undisclosed. Located along the Fox River and built in 1972, the asset features a mix of studio, one-, two- and three-bedroom units. Amenities include an indoor pool and sauna, resident lounge, updated laundry facilities and 96 underground parking spaces. Blake Hanlon and Mark Peltin of Marcus & Millichap represented the undisclosed seller and procured the buyer, the MLG Legacy Fund. The property was originally home to several Green Bay Packers players given its location across the river from Lambeau Field, according to Hanlon.

July 31, 2025

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