Multifamily

Core Spaces Acquires 670-Bed Student Housing Community Near University of Texas at Austin

by Taylor Williams August 20, 2025

AUSTIN, TEXAS — Core Spaces has acquired Villas on 24th, a 670-bed student housing community located at 2313 Rio Grande St. in the West Campus neighborhood of Austin. The development opens this month and offers 199 units in studio through six-bedroom configurations with bed-to-bath parity for students attending the University of Texas at Austin. Shared amenities include a rooftop pool and hot tub with lounge seating and grills; a fitness center with an indoor basketball court; outdoor fitness spaces and saunas; and private meeting rooms and coworking spaces. Villas Student Housing developed the property. TSB Capital Advisors consulted on financing for the acquisition.

August 20, 2025

Loans Multifamily Texas

Berkadia Arranges Recapitalization of 259-Unit Apartment Complex in Metro Austin

by Taylor Williams August 20, 2025

LEANDER, TEXAS — Berkadia has arranged the recapitalization of The Conley, a 259-unit apartment complex located in the northern Austin suburb of Leander. The recapitalization includes debt from LaSalle Investment Management and a preferred equity investment from an undisclosed, Los Angeles-based capital provider. Built in 2020, The Conley offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, resident lounge with a coffee bar, coworking space and a pet park. Scott Wadler, Matt Nihan, Mitch Sinberg, Brad Williamson and Matt Robbins of Berkadia handled the transaction on behalf of the owners, a joint venture between two Miami-based firms, Beacon Real Estate Group and Constellation Group.

August 20, 2025

Acquisitions Loans Multifamily Nevada Western

NewPoint Real Estate Capital Originates $73.4M Freddie Mac Loan for Multifamily Acquisition in North Las Vegas

by Amy Works August 20, 2025

NORTH LAS VEGAS, NEV. — NewPoint Real Estate Capital has provided a $73.4 million Freddie Mac loan to finance the purchase of a garden-style multifamily property in North Las Vegas. The five-year, fixed-rate loan includes full-term interest-only payments and a 35-year amortization schedule. John DeWitt of NewPoint originated the loan. The sponsor, a repeat Freddie Mac and NewPoint borrower, purchased the 498-unit asset and plans to implement an extensive improvement plan over the first four years of the loan. Built in two phases in 2007 and 2008, the property offers one-, two- and three-bedroom apartments with in-unit washers/dryers, stainless steel appliances, central air conditioning and private balconies for patios. Community amenities include two swimming pools, a clubhouse and fitness center, playgrounds, a pet area, business center, garage and both covered and open parking.

August 20, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Brokers $19M Sale of Cornelius Apartments in Seattle

by Amy Works August 20, 2025

SEATTLE — The Simon | Anderson Multifamily Team at Kidder Mathews has arranged the $19 million sale of Cornelius Apartments, located at 306 Blanchard St. in Seattle’s Belltown neighborhood. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily represented the undisclosed seller in the deal. The name of the buyer was not released. Built in 1925 as a hotel, the nine-story building features 137 apartments, averaging 455 square feet.

August 20, 2025

Development Midwest Minnesota Multifamily Student Housing

Landmark Properties Opens 1,021-Bed Student Housing Project in Minneapolis

by Kristin Harlow August 20, 2025

MINNEAPOLIS — Landmark Properties has opened The Standard at Dinkytown, a 17-story student housing project comprising 1,021 beds in Minneapolis. The 17-story community marks the first student housing development in Minnesota for Athens, Ga.-based Landmark. BKV Group served as the architect, and Landmark Construction was the general contractor. The property’s 323 units range from studios to five bedrooms. Each apartment is fully furnished and wired for high-speed internet and cable. Amenities include an outdoor pool area with a jumbotron, sun deck, cabanas, grilling stations and rooftop hot tub. Students also have access to an interior courtyard area, fitness center, clubhouse with computer lab, gaming lounge, study lounge with café and Amazon package lockers.

August 20, 2025

Development Southeast Student Housing Virginia

Deven Group Breaks Ground on 386-Bed Student Housing Community Near University of Virginia

by John Nelson August 20, 2025

CHARLOTTESVILLE, VA. — Development Ventures Group (Deven Group) has broken ground on a 386-bed, on-campus student housing community situated adjacent to Scott Stadium, home arena of the University of Virginia football team. Located at 2005 Jefferson Park Ave. in Charlottesville, the seven-story, $63 million community will offer 119 units with a mix of one-, two-, three- and four-bedroom layouts. Each unit will include walk-in closets, keyless entry and smart TVs, with select units offering private terraces. Amenities at the 240,000-square-foot property will include an elevated amenity deck with mountain views; a heated plunge pool; firepit, grilling stations and hammock and game lawns; clubroom with a coffee bar and event kitchen; group and private study rooms; fitness center with yoga and spin studios; EV chargers; and bike and parcel storage. Deven Group plans to deliver the unnamed community in summer 2027. Capital partners on the project include Marble Capital, BOK Financial and Clairmont Capital Group. Breeden Construction is the general contractor and is currently constructing a project within University of Virginia’s Fontaine Research Park. Deven Group, the U.S. development arm of Kajima Corp., a 180-year-old Japanese construction company, has approximately $300 million of projects set to break ground this year.

August 20, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Brokers $7.4M Sale of Multifamily Portfolio in Indiana

by Kristin Harlow August 20, 2025

INDIANA — Marcus & Millichap has brokered the $7.4 million sale of a portfolio with 76 apartment units and three retail spaces in Hartford City, Spiceland, Knightstown and Rushville. The four properties were built between 2017 and 2021. Jack Friskney, Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, KDC Investments, and procured the buyer, PRE/3.

August 20, 2025

Acquisitions Mixed-Use Multifamily North Carolina Retail Southeast Walker & Dunlop

Lone Star Sells Mixed-Use Lofts at Reynolds Village in Asheville, North Carolina

by John Nelson August 20, 2025

ASHEVILLE, N.C. — An affiliate of Lone Star Funds has sold The Lofts at Reynolds Village, a mixed-use development located at 61 N. Merrimon Ave. in Asheville. The property includes 201 apartments and 63,000 square feet of ground-level retail space. Baltimore-based Continental Realty Corp. is purchasing the property from Lone Star Real Estate Fund VI LP for an undisclosed price. Walker & Dunlop represented Lone Star, which structured the deal as a sale of REIT stock, in the transaction. Built in 2010, The Lofts at Reynolds Village features one-, two- and three-bedroom apartments, as well as a pool, onsite property manager, business center, lounge, sauna and a spa, according to Apartments.com.

August 20, 2025

Affordable Housing Development Multifamily New York Northeast

Douglaston Development Tops Out 158-Unit Affordable Housing Project in Manhattan

by Taylor Williams August 20, 2025

NEW YORK CITY — Douglaston Development has topped out Rialto West, a 158-unit affordable housing project in Manhattan’s Hell’s Kitchen neighborhood. The eight-story building will offer studio, one-, two- and three-bedroom units that will be reserved for households earning up to 140 percent of the area median income. In addition, 15 percent of the units will be dedicated to serving formerly homeless households. Rialto West will also feature a fitness center, onsite laundry facilities and a bike storage area. Levine Builders, a Douglaston affiliate, is the general contractor for the project, full completion of which is slated for the fourth quarter of next year.

August 20, 2025

Development Multifamily New Jersey Northeast

LANDMARK Begins Leasing 85-Unit Multifamily Project in Union, New Jersey

by Taylor Williams August 20, 2025

UNION, N.J. — Local developer LANDMARK has begun leasing CENTURION Union Center, an 85-unit multifamily project located in Northern New Jersey. Designed by Comito Associates PC with interiors by Lita Dirks & Co., CENTURION Union Center rises five stories and offers one- and two-bedroom units, as well as 107 parking spaces. The first move-ins are scheduled to commence in October. Specific amenities and starting rents are still being finalized.

August 20, 2025

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