COON RAPIDS, MINN. — JLL Capital Markets has arranged the sale and financing for Aster Apartments, a 192-unit luxury apartment community in the Twin Cities suburb of Coon Rapids. The property is located at 3130 Northdale Blvd. NW near Highway 10 and Highway 169. Josh Talberg and Joseph Peris of JLL represented the undisclosed seller. Matthew Schoenfeldt, Patricia Heminger, Rebecca Mitchell and Ryan Planek of JLL arranged acquisition financing on behalf of the buyer, MLG Capital.
By Taylor Williams DALLAS — Technological innovation has long been a cornerstone of managing and leasing multifamily properties, and that feature of the business has only been augmented in the era of artificial intelligence (AI). But for all the operational conveniences and efficiencies that AI potentially brings to the table, multifamily management has not yet reached the point of phasing out the human element. Almost immediately after the members of the leasing and management panel at the annual InterFace Multifamily Texas conference had introduced themselves, this fundamental premise of multifamily management was put forth to a crowd of several hundred real estate professionals — men and women who have built careers based on human relationships. The message to those at the conference, which took place in late September at the Westin Galleria Hotel in Dallas, seemed to be one of reassurance, that even as AI seemingly infiltrates every aspect of human life and threatens to void millions of jobs, the human principles that have long governed real estate transactions remain intact. At least for now. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements …
DALLAS — Unbridled Living has acquired The Reserve at North Dallas, a 273-unit seniors housing community in Dallas. Built in 2000, the property features 247 independent living apartments and 26 assisted living units. Amenities include a bistro, game room, wellness center, hair salon, library, media room, resident lounge and a putting green. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Jim Dooley and Dan Baker of JLL represented the undisclosed seller in the transaction. Allison Holland, also with JLL, arranged acquisition financing through Arrowmark Partners on behalf of Unbridled Living. The loan carries a three-year term with two 12-month extension options.
DENTON, TEXAS — Helios Healthcare Advisors has brokered the sale of a restored assisted living facility in Denton. Fairhaven Denton Assisted Living was originally developed in the mid-1950s and closed in 2007. In 2019, Austin-based developer Investcor acquired Fairhaven and executed an $8 million renovation of the property, which is now featured on the National Register of Historic Places. Fairhaven reopened in fall 2020 and is now operated by Enriched Senior Living. Helios represented Investcor in the transaction. The buyer was a California-based owner-operator. Fairhaven Denton more than 95 percent occupied at the time of sale.
BOISE, IDAHO — Intercontinental Real Estate Corp., in partnership with Interwest Capital Group, has acquired River Edge, a 175-unit student housing community in Boise. Terms of the transaction were not disclosed. Located adjacent to Boise State University, River Edge offers 622 beds in a mix of two- and four-bedroom residences, averaging 1,197 square feet. Community amenities include a fitness center, study rooms, a business center, residential lounge/theater, coffee bar and parking for 277 vehicles. The joint venture plans to implement a light renovation program to all of the units, which have remained in their original condition since the property’s construction in 2015. Planned upgrades include stainless steel appliances, modern lighting, new living room furniture, smart TVs in every unit and keyless entry systems to align with market standards. Situated on 3.2 acres at 1004 W. Royal Blvd., River Edge is currently 99 percent leased for the 2025/25 academic year.
DENVER — Redpeak Properties has obtained $33.2 million in agency acquisition financing for Monaco Row, a garden-style apartment property in Denver. Tony Nargi and Eric Tupler of JLL Capital Market’s Debt Advisory team originated the five-year, fixed-rate Fannie Mae loan, which will be serviced by JLL Real Estate Capital. Located at 4665 S. Monaco St., Monaco Row features 196 one- and two-bedroom apartments spread across 16 residential buildings on 8.9 acres. Many units include direct-access garages and offer Rocky Mountain views. Community amenities include a pool, spa, fitness center, resident lounge and pet spa. The property was built in 2013.
SALEM, ORE. — Ethos Commercial Advisors has secured construction financing for The Citizen, an apartment community in Salem. Daniel Natsch and Matthew Illias of Ethos Commercial Advisors originated the $22 million, 36-month construction loan at an 82 percent loan-to-cost ratio for Deacon Development. Located downtown and spanning 64,397 square feet of gross building area, The Citizen will offer 105 apartments. Construction began recently with completion slated for spring 2027.
ANTIOCH, TENN. — A partnership between Continental Realty Assets (part of Continental Realty Group) and CP Capital has purchased Discovery at Mountain View Apartments, a 336-unit multifamily community located in the Nashville suburb of Antioch. This is the first Nashville-area acquisition for the partnership and its fourth purchase total. The seller and sales price were not disclosed. Delivered in 2008, Discovery at Mountain View offers studio, one-, two- and three-bedroom apartments. Amenities include a clubhouse/leasing office, swimming pool, fitness center, business center and a dog park. Continental Realty Assets plans to modernize the apartment interiors and renovate the property’s exteriors and common areas during its ownership.
NEW YORK CITY — Vertical Community Development (VCD) will develop a 180-unit affordable seniors housing project at1810 Randall Ave. in The Bronx. Designed by Aufgang Architects, the eight-story building will offer 157 studios, 22 one-bedroom units and a single two-bedroom unit. Information on age and rent restrictions was not disclosed. Amenities will include a fitness center, indoor and outdoor recreational spaces and social support services, and the building will also house church facilities on its ground floor. Construction is scheduled to begin next year and to be complete sometime in 2027.
KATHLEEN, GA. — BWE has provided a $38.5 million loan for Encore at Beacon Place, a 252-unit build-to-rent community located at 40 Cohen Walker Drive in Kathleen, about seven miles south of Warner Robins in central Georgia. Paul Harbor and Caleb Carter of BWE’s Birmingham office originated the bridge loan on behalf of the borrower, a multifamily investment firm based in Alabama. Delivered in February 2025, Encore at Beacon Place offers a mix of one-, two- and three-bedroom cottages. Amenities include a resort-style saltwater pool, pickleball court, clubhouse with a 24-hour fitness center with a fitness studio, community gathering room, business center, cyber café with complimentary Wi-Fi and a coffee bar.
