EVANSTON, ILL. — Maverick Commercial Mortgage Inc. has arranged a $13.5 million stretch senior construction loan for a 30-unit apartment building in Evanston. A Midwest-based debt fund provided the loan. The borrower acquired the site, previously a parking lot, in 2024. The project site is located four blocks west of Northwestern University. Completion is slated for spring 2027.
TUCSON, ARIZ. — Campus Invesco has acquired Wildcat Canyon Village, a student housing community located at 1050 E. 8th St. in Tucson, from Federal Home Loan Mortgage Corp. (Freddie Mac) for $8 million. Originally built in 1968, Wildcat Canyon Village features 76 units, totaling 128 beds. The property includes a value-add component offering the potential to expand to 164 beds through strategic unit conversions. Onsite amenities include a swimming pool, basketball court, picnic area with barbecue grills and a coffee bar. Additionally, the community features controlled access, package lockers, a laundry facility and free resident parking. Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller in the deal.
NASHVILLE, TENN. — Tidal Real Estate Partners has received $400 million in construction financing for The Nashville Edition Hotel & Residences, a 28-story mixed-use tower that is under construction in the state capital’s Gulch district. The project will comprise 261 hotel rooms and 84 condos. Tidal is developing The Nashville Edition Hotel & Residences in collaboration with Left Lane Development and Marriott International. The project team also includes architecture firms ESa and INC Architecture & Design, as well as Corcoran Reverie of Corcoran Sunshine Marketing Group. The construction financing, which includes both debt and equity, was provided by affiliates of KSL Capital Partners, Madison Realty Capital, Newbond Holdings and affiliates of the developer. “The Nashville Edition is the type of design-forward, experiential project that elevates an entire neighborhood, and this financing reflects our conviction in both the long-term strength of The Gulch and Tidal’s ability to deliver a truly landmark development,” says Josh Zegen, managing principal and cofounder of Madison Realty Capital. The hotel component will occupy the lower floors of the tower and will feature various amenities, including a double-height restaurant and bar, lobby lounge, a 50-foot heated saltwater pool with cabanas and a wraparound deck with bar and restaurant service. …
HOUSTON — Fairstead, an affordable housing owner-operator based in New York City, has announced the $242 million acquisition and rehabilitation of Haverstock Hills, a 700-unit affordable housing property in Houston’s East Aldine neighborhood. Haverstock Hills comprises 44 two- and three-story buildings on a 22-acre site. Residences include a mix of studio, one-, two- and three-bedroom units, all of which are reserved for households earning 60 percent or less of the area median income. Fairstead plans to upgrade unit interiors, building exteriors and common areas, as well as enhance the amenities via an updated clubhouse, outdoor playground, laundry facilities and a business center. Fairstead will also invest in new safety and security measures across the property. Rainbow Housing Corp. will continue to provide onsite social services for residences of Haverstock Hills.
DALLAS — Locally based firm Anthem Development has begun construction on Premier at Dallas Midtown, a 296-unit multifamily project that will be located on the site of the former Valley View Mall on the city’s north side. The development will feature studio, one- and two -bedroom floor plans that will range in size from 500 to 1,400 square feet. Amenities will include a pool, fitness center, sky lounge, game room, dog run and a business center with private workstations and a conference room, as well as 13,500 square feet of retail space. Cross Architects designed the project. NexBank is financing construction, which is expected to be complete in 2027.
LYNBROOK, N.Y. — Regional brokerage and debt advisory firm BlueGate Partners has arranged $104 million in financing of The Langdon, a newly built, 201-unit apartment complex located in the Long Island community of Lynbrook. Located at 47 Broadway, The Langdon is a redevelopment of the former Mangrove Feather factory and consists of 55 studios, 111 one-bedroom units and 35 two-bedroom apartments, as well as 2,000 square feet of ground-floor retail space. Amenities include a lobby café, concierge services, rooftop terrace with skyline views, landscaped courtyard, resident lounge with billiards, a fitness center and work-from-home stations. Lee Spiegelman, Mark DeLillo, Marc Schulder, Felipe Marin and Brian Bernier of BlueGate arranged the debt on behalf of the owner, a partnership between Breslin Realty Development Corp. and Fields Grade Development. The direct lender was not disclosed.
NEW YORK CITY — Gilbane Development will build a 266-unit affordable housing project in The Bronx. Designed by Aufgang Architects and developed on the site of a former parking lot, 860 Concourse Village East will be a two-building project with 148 studios, 60 one-bedroom units, 47 two-bedroom residences and 11 three-bedroom apartments. Information on rent restrictions was not disclosed. Amenities will include a fitness center, laundry and package rooms, recreational lounge, an outdoor courtyard and a social services suite with offices and a conference room. The project will also feature a 7,818-square-foot commercial space that will be occupied by the Institute for Community Living. Construction is scheduled to begin next year and to be complete sometime in 2027.
METUCHEN, N.J. — HarborPoint Residential has purchased a 22-unit apartment complex in the Central New Jersey community of Metuchen for roughly $8 million. The building at 22 Center St. is located in the downtown area and comprises 19 market-rate units and three affordable units. Amenities include a gym, storage lockers and a rooftop terrace. The DiOrio Commercial Team at Berkshire Hathaway HomeServices Fox & Roach’s Commercial Division represented the seller and developer, Ramani Group, in the deal.
DECATUR, GA. — Crescent Communities plans to begin construction this month on NOVEL Lulah Hills, a 303-unit apartment community in Decatur. The six-story community, which will feature nearly 40,000 square feet of retail space on the ground level, is a multifamily component within Lulah Hills, EDENS’ 78-acre mixed-use redevelopment of the former North DeKalb Mall. The apartment community will offer a mix of studio, one-, two- and three-bedroom apartments, as well as a pool with cabanas, a beer and game garden, outdoor dining spaces, flexible space for workshops and events, a craft closet, stocked dining pantry and a terrace with firepits and lounge seating. The overall Lulah Hills project, delivered over multiple phases in the coming years, will offer approximately 300,000 square feet of retail and restaurants, a Publix grocery store, 1,800 residential units and multiple green spaces. Crescent Communities plans to deliver NOVEL Lulah Hills in late 2027.
NICEVILLE, FLA. — Berkadia has brokered the sale of American House Bluewater Bay, a 94-unit independent living community located in Niceville, roughly 10 miles northeast of Destin, Fla. Built in 2015, the community was more than 95 percent occupied at the time of sale. Michigan-based real estate development and investment company REDICO sold the property. American House, the senior living operator affiliate of REDICO, will continue to operate the community on behalf of the new ownership.