Multifamily

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

Development Southeast Student Housing Virginia

Up Campus Student Living to Break Ground on 641-Bed Student Housing Development Near University of Virginia

by John Nelson February 20, 2025

CHARLOTTESVILLE, VA. — Up Campus Student Living is set to break ground on Blume on Ivy, a 641-bed student housing development located near the University of Virginia campus in Charlottesville. The community will offer one-, two-, three- and four-bedroom, fully furnished units. Shared amenities will include a resort-style pool; rooftop entertainment deck with a jumbotron, cabanas, grills and fire pits; a game day lounge; golf simulator; and a boutique health-and-wellness center with private cross-training studios and a sauna. The project is scheduled for completion in fall 2027. TSB Capital Advisors arranged construction financing for the development, which was provided by Fifth Third Bank with additional participation from First Citizens Bank.

February 20, 2025

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Center Park Delivers First Build-to-Rent Townhomes at Sanderling Project in Johns Island, South Carolina

by John Nelson February 20, 2025

JOHNS ISLAND, S.C. — General contractor Center Park Group has delivered the first tranche of townhomes at Sanderling, a 56-unit build-to-rent (BTR) residential community located at 3021 Maybank Highway in Johns Island, about 13 miles south of Charleston. Atlanta-based RangeWater Real Estate is providing property management services at Sanderling on behalf of the owners, Equus Development Partners and Circle Squared Alternative Investments. Center Park expects to deliver all BTR homes at Sanderling by March. Units span up to 1,443 square feet and come in two- and three-bedroom configurations with one-car garages and front porches. Community amenities include a dog park and three acres of forested land with walking trails throughout.

February 20, 2025

Development Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $158M Construction Loan for Manhattan Multifamily Project

by Taylor Williams February 20, 2025

NEW YORK CITY — Walker & Dunlop has arranged a $158 million construction loan for an 83-unit multifamily project in Manhattan’s Turtle Bay neighborhood. The 26-story building at 401 East 51st St. will feature for-sale condominium residences, with units to be offered in studio, one-, two-, three-and four-bedroom floor plans. The building will also house a five-bedroom penthouse. Amenities will include a fitness center, resident lounge and a private dining area. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer and Sean Bastian of Walker & Dunlop arranged the financing through TYKO Capital on behalf of the borrower, CBSK Developers.

February 20, 2025

Acquisitions Colorado Multifamily Seniors Housing Western

Meridian Senior Living Buys Pine Grove Crossing Assisted Living, Memory Care Community in Parker, Colorado

by Amy Works February 20, 2025

PARKER, COLO. — An affiliate of Meridian Senior Living (Meridian) has acquired Pine Grove Crossing, a seniors housing property in Parker, from a real estate private equity group for an undisclosed price. Meridian will manage the community on behalf of an institutional investor. Completed in 2018, Pine Grove Crossing offers 100 assisted living and 27 memory care units in a three-story building. The community offers weekly shuttle bus excursions, a private transport services for appointments, beauty salon and barbershop, gym with daily fitness classes, library and outdoor patio space. Additionally, the property includes all-day, full-service dining and an onsite bistro for coffee and pastries. At the time of sale, Pine Grove Crossing was 90 percent occupied. The property is situated on 4.4 acres at 19160 Cottonwood Drive. JLL Capital Markets Seniors Housing team represented the seller in the deal.

February 20, 2025

Arizona Development Loans Multifamily Student Housing Western

TSB Capital Secures Construction Financing for 532-Bed Student Housing Development Near University of Arizona

by Amy Works February 20, 2025

TUCSON, ARIZ. — TSB Capital Advisors has secured construction financing for a 532-bed student housing development near the University of Arizona campus in Tucson. The project, which is being developed by Capstone Collegiate Communities, will offer units in studio, one-, two-, three-, four-, five- and six-bedroom configurations. Shared amenities are set to include a resort-style pool, sundeck, coffee bar, courtyard, multimedia room, hammock lounge, fitness center, cold plunge, sauna, clubhouse, grilling stations, tanning rooms, green spaces, private and group study lounges and an outdoor kitchen and dining area. The community is scheduled for completion in fall 2027. An undisclosed Fortune 100 insurance company provided the financing.

February 20, 2025

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