Multifamily

Kidder Mathews Arranges $42.6M Sale of Metro on First Apartments in Seattle

by Amy Works February 21, 2025

SEATTLE — Kidder Mathews has arranged the $42.6 million sale of Metro on First, a multifamily property in Seattle’s Queen Anne neighborhood. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily team represented the seller, a large institutional owner, and sourced the undisclosed buyer in the deal. Located at 215 First Ave. W., Metro on First offers 106 studio, one- and two-bedroom units. Originally built in 2001, the 72,194-square-foot property has undergone substantial interior renovations in recent years.

February 21, 2025

Loans Multifamily Nevada Student Housing Western

Northmarq Arranges $78.5M Refinancing for 773-Bed Student Housing Community in Reno, Nevada

by Amy Works February 21, 2025

RENO, NEV. — Northmarq has arranged a $78.5 million refinancing for The Dean Reno, a 773-bed student housing property located near the University of Nevada, Reno. Built in 2023, the community offers fully furnished units alongside shared amenities including a cyber lounge, fitness center, yoga studio and grilling stations. Justin Glasgow of Northmarq secured the financing through Heitman on behalf of the borrowers, GMH Communities and CRG. Terms of the financing were not released.

February 21, 2025

Georgia Loans Multifamily Southeast

AEW Provides $75M Loan to Refinance High-Rise Multifamily Complex in Midtown Atlanta

by John Nelson February 21, 2025

ATLANTA — AEW Capital Management has provided a $75 million loan to refinance the construction loan for The Hadley, a 300-unit, high-rise multifamily complex located in Midtown Atlanta. The borrower was not disclosed, but a joint venture between StreetLights Residential and PGIM Real Estate completed the project in 2023. Situated at 770 Juniper St. NE, The Hadley features studios, one-, two- and three bedrooms ranging from 534 square feet to 1,716 square feet, according to Apartments.com. Amenities at the property include a fitness center, private resident bar, onsite coffee lounge and coworking space, dog park and spa, gated parking garage and a rooftop swimming pool with cabanas. The property was nearly fully occupied at the time of financing.

February 21, 2025

Acquisitions Kentucky Southeast Student Housing

GMH Communities Acquires 533-Bed Student Housing Property Near University of Kentucky

by John Nelson February 21, 2025

LEXINGTON, KY. — GMH Communities has acquired The Stretch, a 533-bed student housing community located near the University of Kentucky campus in Lexington. A joint venture between Campus Advantage and Tramview Capital Management sold the property for an undisclosed price. Teddy Leatherman, Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller in the transaction. Built in 2009 at 1051 Red Mile Road, the community offers a mix of two-, three- and four-bedroom units. Shared amenities include a clubhouse; pool and hot tub; fitness center; basketball, pickleball and volleyball courts; study rooms; a tanning salon; and outdoor grilling areas. The property was 96 percent leased at the time of sale.

February 21, 2025

Acquisitions Illinois Midwest Multifamily Seniors Housing

Tutera Acquires 75-Unit Seniors Housing Community in Suburban Chicago, Plans Reopening

by Kristin Harlow February 21, 2025

MATTESON, ILL. — Tutera Senior Living & Health Care has acquired a 75-unit seniors housing community in Matteson, about 30 miles south of Chicago, for an undisclosed price. Built in 2021 for $21 million, the property formerly operated under the name Alexi Senior Living before closing in 2022. Tutera plans to make improvements to the community and reopen it as Ridgeland Senior Living this spring. Situated on 5.5 acres, the 81,589-square-foot development features 55 assisted living units and 20 memory care residences. Amenities at the property will include a restaurant-style dining room; poker area and art studio; barbershop, beauty salon and spa; therapy room and gym; movie theater, library and chapel; bistro; courtyard with walking paths; and common areas. The acquisition brings Tutera’s portfolio to 77 communities operated across 10 states.

February 21, 2025

Acquisitions Alabama Multifamily Southeast

Matthews Real Estate Facilitates Sale of Two Multifamily Properties in Alabama

by John Nelson February 21, 2025

MUSCLE SHOALS AND TUSCUMBIA, ALA. — Matthews Real Estate Investment Services has facilitated the sale of two multifamily complexes located in Tuscumbia and Muscle Shoals, approximately just one mile apart. Breckenridge Apartments in Tuscumbia features 120 units with one-, two- and three-bedroom options ranging from 890 square feet to 1,200 square feet. Harvest Hills in Muscle Shoals totals 42 units with one- and two-bedrooms up to 1,280 square feet. Richard Lindsey of Matthews Real Estate represented the seller in the disposition of the properties to two separate buyers. The purchase price, seller and buyers were not disclosed. This transaction marks the largest multifamily sale in the metro Florence, Ala., area in recent years.

February 21, 2025

Loans Multifamily Texas

Affinius Capital Provides $34M Loan for Refinancing of Metro Dallas Apartment Complex

by Taylor Williams February 20, 2025

LEWISVILLE, TEXAS — Affinius Capital has provided a $34 million loan for the refinancing of Main & Mill, a 203-unit apartment complex located in the northern Dallas suburb of Lewisville. Main & Mill houses 143 one-bedroom and 60 two-bedroom units, as well as 6,400 square feet of retail space. Residences are furnished with quartz countertops, stainless steel appliances, walk-in closets and full-size washers and dryers. Select units offer private patios and balconies. Amenities include a pool, fitness center, community kitchen, coworking space and outdoor courtyards. Lauren Kaufman of JLL arranged the loan on behalf of the owner, AMAC Development.

February 20, 2025

Development Multifamily Texas

Leon Multifamily Completes 360-Unit Apartment Development in Hickory Creek, Texas

by Taylor Williams February 20, 2025

HICKORY CREEK, TEXAS — Leon Multifamily Group, a division of Dallas-based Leon Capital Group, has completed Lakesound, a 360-unit apartment development in Hickory Creek, located north of the metroplex in Denton County. Lakesound offers studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, walk-in closets, individual washers and dryers and private patios/balconies. The amenity package comprises a pool, fitness center, clubroom and lounge, walking trails, work pods and outdoor grilling and dining stations. The first units are now available for occupancy, and rents start at $1,400 per month for a studio apartment.

February 20, 2025

Development Mississippi Southeast Student Housing

HPM Tops Out 412-Bed Residence Hall at Mississippi State University in Starkville

by John Nelson February 20, 2025

STARKVILLE, MISS. — HPM has topped out Azalea Hall, a new five-story residence hall on the campus of Mississippi State University in Starkville. Construction began on the 412-bed project in 2023 and is slated to deliver ahead of the 2025-2026 school year. Units at Azalea Hall will come in pod-style configurations with shared bathrooms and common areas. The building will also feature a living and learning community for students in the Luckyday Scholars Program that has a dedicated study area and classroom space, as well as a new dining hall with indoor and outdoor seating. Azalea Hall will also feature a storm shelter that can be used for meeting or classroom space as needed. HPM is serving as the construction manager and advisor to the University of Mississippi, which represents the first partnership between the two entities. Additional project partners include architect WBA Architecture, general contractor Roy Anderson Corp., mechanical engineer GSK Mechanical and electrical engineer The Power Source.

February 20, 2025

Development Florida Multifamily Southeast

Crescent Communities Opens 277-Unit Novel Independence Park Apartments in Tampa

by John Nelson February 20, 2025

TAMPA, FLA. — Crescent Communities has opened Novel Independence Park, a 277-unit apartment community located in Tampa’s Westshore District. The property features studio, one-, two- and three-bedroom residences across three five-story buildings. Monthly rental rates range from $2,032 to $3,035, according to Apartments.com. Amenities include a resort-style saltwater swimming pool and cabanas, outdoor grilling area and firepit, fitness center complete with a flex studio for yoga and spin classes, elevated sky deck and resident clubroom, indoor and outdoor coworking spaces, shaded dog park, nature trail and a pickleball court. Crescent’s financial partners for Novel Independence Park include CP Capital US and Truist. The design-build team includes architect Dwell Design Studio, civil engineer Haiff Associates, landscape architect LandDesign, interior designer Vignette Interior Design and general contractor CBG Construction.

February 20, 2025

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