Multifamily

SPI Advisory, FCP Buy 600-Unit Crest Manor Apartments in Lewisville, Texas

by Taylor Williams July 29, 2025

LEWISVILLE, TEXAS — A partnership between Texas-based investment firm SPI Advisory and Maryland-based FCP has acquired Crest Manor Apartments, a 600-unit multifamily community in Lewisville, located about 25 miles north of Dallas. Crest Manor was developed in two phases between 2010 and 2016. Units come in one-, two- and three-bedroom floor plans. Amenities include two pools, a clubhouse, fitness center, tennis courts and walking trails. The joint venture plans to upgrade amenities and some unit interiors. The seller and sales price were not disclosed.

July 29, 2025

Loans Multifamily New York Northeast

Affinius Capital Funds $340M Loan for Refinancing of Brooklyn Apartment Community

by Taylor Williams July 29, 2025

NEW YORK CITY — Affinius Capital has funded a $340 million loan for the refinancing of 313 Bond, a 603-unit apartment community that is under construction in the Gowanus area of Brooklyn. The borrower, locally based developer Sky Equity Group, will use the proceeds to retire existing debt, complete construction of the two-building development and lease the property to stabilization. Upon completion, 313 Bond will feature 149 studios, 313 one-bedroom units and 141 two-bedroom apartments, as well as 51,600 square feet of retail space. Amenities will include fitness centers, three rooftop terraces, a library, game lounge, coworking spaces and package lockers. Henry Bodek of Galaxy Capital arranged the loan.

July 29, 2025

Signature-Place-Morris-Plains-New-Jersey

Acquisitions Multifamily New Jersey Northeast

CBRE Brokers $85M Sale of Northern New Jersey Apartment Complex

by Taylor Williams July 29, 2025

MORRIS PLAINS, N.J. — CBRE has brokered the $85 million sale of Signature Place, a 197-unit apartment complex located in the Northern New Jersey community of Morris Plains. Built in 2018, the property offers one-, two- and three-bedroom units with an average size of approximately 1,000 square feet. Amenities include a pool, fitness center with a yoga studio, golf simulator, private movie theater, conference rooms, pet spa and a clubroom with a fireplace and game table. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, Roland Merchant and Tom Pryor of CBRE represented the seller, Veris Residential, in the transaction. The buyer was not disclosed.

July 29, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $4.7M Sale of Two Apartment Buildings in Irvington, New Jersey

by Taylor Williams July 29, 2025

IRVINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $4.7 million sale of two apartment buildings totaling 47 units in the Northern New Jersey community of Irvington. The building at 15 Chester Ave. has 33 units, and the building at 628-630 Lyons Ave. has 14 units. Joni Sweetwood of Kislak represented the sellers, both of which were limited liability companies, in the transaction. Sweetwood also procured the buyer, CY Management LLC.

July 29, 2025

Development Leasing Activity Mixed-Use Multifamily North Carolina Restaurant Retail Southeast

Ardent Closes on Land Acquisition for Westside Bottling Project in Durham, Signs Leases With Sprouts and Shake Shack

by John Nelson July 29, 2025

DURHAM, N.C. — The Ardent Cos. has closed on the land acquisition for Westside Bottling, a mixed-use development located on the former Durham Coca-Cola Bottling Co. warehouse site in Durham. Ardent plans to break ground in August on the development, which at full build-out will feature 70,000 square feet of retail space, 370 multifamily residences and 35 for-sale townhomes. Westside Bottling’s retail component is currently 70 percent preleased to tenants including Sprouts Farmers Market, Shake Shack, Ulta Beauty, Club Pilates, First Watch and Vernis Nail Salons. First Citizens Bank, which had an existing bank branch on the site, will continue to operate at Westside Bottling. The development sits three miles west of downtown Durham and north of Duke University and Duke University Medical Center.

July 29, 2025

Development Maryland Southeast Student Housing

MCB Opens 473-Bed Student Housing Community Near Morgan State University in Baltimore

by John Nelson July 29, 2025

BALTIMORE — MCB Real Estate has opened The Enolia, a 473-bed, off-campus student housing community located at 4529 Harford Road in Baltimore. The $58 million development is situated less than a mile from Morgan State University’s campus. Named after Baltimore civil rights leader and first female NAACP president Enolia Pettigen McMillan, The Enolia features 151 apartments, each with bed-to-bath parity and fully furnished with washers and dryers, quartz countertops and stainless steel appliances. Amenities include a fitness center, game room, study rooms with private huddle areas, lounges, an outdoor courtyard with three terraced levels, lawn areas and a firepit. The Enolia represents the first ground-up student housing development serving Morgan State students in 20 years, according to MCB.

July 29, 2025

Development Florida Seniors Housing Southeast

Chancey Development Delivers 86-Unit Seniors Housing Community on Marco Island in Southwest Florida

by John Nelson July 29, 2025

MARCO ISLAND, FLA. — Chancey Development, in partnership with BRW Development and Watermark Retirement Communities, has delivered The Watermark at Marco Island, a new, 86-unit seniors housing community on Marco Island in southwest Florida. This marks the first senior living community on the island. Totaling 103,000 square feet, the property features 66 assisted living and 20 memory care units. Chancey Architecture & Design designed the community, with Wichman Construction serving as the general contractor. Chancey also partnered with the City of Marco Island to create a public park adjacent to the property, which is located with proximity to an urgent care facility.

July 29, 2025

Development Idaho Multifamily Western

Hawkins Completes 288-Unit Canyon Ridge Multifamily Property in Boise

by Amy Works July 29, 2025

BOISE, IDAHO — Hawkins has completed Canyon Ridge, an apartment community in southeast Boise. Located at 2552 E. Gowen Road, Canyon Ridge features 288 one-, two- and three-bedroom apartments. Community amenities include a resort-style outdoor pool, dedicated dog park and 6,000-square-foot clubhouse. Canyon Ridge is located near the 161-acre Simplot Sports Complex, Mircon’s North Campus and Albertsons. ESI served as general contractor for the project.

July 29, 2025

Acquisitions California Multifamily Western

IPA Brokers $14.4M Sale of Apartment Community in El Cajon, California

by Amy Works July 29, 2025

EL CAJON, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Terre at Ballantyne, a multifamily property in El Cajon. The asset traded for $14.4 million. Chris Zorbas, Alexander Garcia Jr. and Kyle Pinkalla of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terra at Ballantyne features 60 units spread across 10 two-story buildings. Apartments offer air conditioning and heating, large closets and patios or balconies on select units. Community amenities include two swimming pools and two laundry facilities. At the time of sale, the property was 97 percent occupied with 40 percent of the units renovated.

July 29, 2025

Illinois Loans Midwest Multifamily

Canyon Partners Provides $106.3M Refinancing for 21-Story Apartment Tower in Chicago

by Kristin Harlow July 29, 2025

CHICAGO — Canyon Partners Real Estate LLC has provided a $106.3 million senior loan to refinance The Saint Grand, a newly built apartment tower in downtown Chicago’s Streeterville submarket. JLL arranged the loan on behalf of the borrower, a joint venture controlled by Mavrek Development. The 21-story property features 248 market-rate apartment units, a 103-stall parking garage and 46,946 square feet of retail space that is leased to Club Studio Fitness, Wintrust Bank and Tropical Smoothie Café. Amenities include coworking areas, electric vehicle charging stations, bike storage, a concierge, outdoor pet area and rooftop terrace with a fitness center, pool, fire pit and grilling stations.

July 29, 2025

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