Tuesday, June 30, 2026
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AcquisitionsMultifamilySouth CarolinaSoutheast

CBRE Arranges Sale of 284-Unit Apartment Community in Charleston

by John Nelson

CHARLESTON, S.C. — CBRE has arranged the sale of Preserve at Essex Farms, a 284-unit apartment community located at 3245 Glenn McConnell Parkway in Charleston’s West Ashley submarket. Jim Sewell, David Lansbury and Erika Maston of CBRE represented the unnamed seller in the transaction. The buyer and sales price were also not disclosed. Preserve at Essex Farms comprises studio, one-, two- and three-bedroom floor plans, as well as two-story townhomes. Amenities include a resort-style swimming pool, grill area, bike trail, 24-hour fitness center and a pet spa area. B&M Management Co. is the property manager.

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LoansMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $25.3M Acquisition Loan for Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Ariel Property Advisors has arranged a $25.3 million loan for the refinancing of an 82-unit apartment building located at 120-125 Riverside Drive on Manhattan’s Upper West Side. An undisclosed, out-of-state bank provided the five-year, fixed-rate loan, which was structured with two years of interest-only payments and a 60 percent loan-to-cost ratio. The undisclosed borrower will use a portion of the proceeds to fund capital improvements. Matt Dzbanek and Matt Swerdlow led the transaction for Ariel Property Advisors.

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Affordable HousingLoansMassachusettsMultifamilyNortheast

MassDevelopment Provides $17M in Bond Financing for Affordable Housing Complex in New Bedford, Massachusetts

by Taylor Williams

NEW BEDFORD, MASS. — MassDevelopment has provided $17 million in tax-exempt bond financing for Wamsutta Apartments, a 144-unit affordable housing complex in New Bedford, located at the base of Cape Cod. The historic building was originally constructed in the 1870s and consists of 29 buildings that primarily house one-bedroom units. Residences are reserved for households earning 60 percent or less of the area median income. The borrower, an affiliate of HallKeen Management, will use proceeds to fund capital improvements and preserve the property’s affordability status.

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Elements-Horsham
AcquisitionsNortheastPennsylvaniaRetail

FNRP Acquires 50,353 SF Retail Property in Horsham, Pennsylvania

by Taylor Williams

HORSHAM, PA. — New Jersey-based investment firm First National Realty Partners (FNRP) has acquired Elements Horsham, a 50,353-square-foot retail property located about 25 miles north of Philadelphia. The property was 94 percent leased at the time of sale to tenants such as Starbucks, MaGerk’s Pub & Grill, Aqua-Tots Swim School, TruMark Financial and Charles Schwab. James Galbally, Patrick Higgins, Chris Munley and Colin Behr of JLL represented the undisclosed seller in the transaction.

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400-Madison-Ave.-Manhattan
Leasing ActivityNew YorkNortheastOffice

Brink’s Signs 8,036 SF Office Lease at 400 Madison Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Home and business security services provider Brink’s Inc. has signed an 8,036-square-foot office lease at 400 Madison Avenue in Midtown Manhattan. The 22-story building was originally constructed in 1929 and recently underwent a capital improvement program that included a new lobby and amenity center. Harry Blair, Lauren Hale and Michelle Mean of Cushman & Wakefield represented the landlord, Daishin America LLC, in the lease negotiations. Kyle Young of JLL represented Brink’s.

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HealthcareLeasing ActivityNew YorkNortheast

Release Recovery Opens 7,698 SF Outpatient Healthcare Clinic in Purchase, New York

by Taylor Williams

PURCHASE, N.Y. — Release Recovery, which provides counseling and treatment for substance abuse and mental health disorders, has opened a 7,698-square-foot outpatient healthcare clinic in Purchase, about 30 miles north of Manhattan. The space at 3020 Westchester Ave. is located within the 220,000-square-foot Purchase Professional Park and houses multiple treatment spaces and a yoga room. Simone Development Cos. owns Purchase Professional Park and was represented in the lease negotiations by in-house agent Sean Heneghan and Matthew Lisk of Cushman & Wakefield.

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DevelopmentMidwestMultifamilyOhio

Milhaus, HGI Break Ground on 359-Unit Apartment Project in Hilliard, Ohio

by Kristin Harlow

HILLIARD, OHIO — A joint venture between Milhaus and Harbor Group International (HGI) has broken ground on Tempo, a 359-unit apartment project in Hilliard, a northwest suburb of Columbus. The development is in the heart of commercial real estate firm Equity’s mixed-use development known as TruePointe, construction of which began in July 2023. Milhaus will lead development of Tempo, with HGI providing 80 percent of the common equity. Tempo will offer floor plans ranging from studios to three-bedroom units. Residents will have access to amenities such as a resort-style pool, courtyard, fitness center, sky lounge, coworking spaces, an onsite dog park, beach volleyball court and outdoor pizza kitchen. Architecture firm MA+ Design, SJL Design Group and The Kleingers Group make up the project team. First Internet Bank provided project financing. Completion is slated for spring 2026.

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LoansMichiganMidwestMultifamily

Bernard Financial Group Arranges $4.8M Loan for Refinancing of Multifamily Property in Southfield, Michigan

by Kristin Harlow

SOUTHFIELD, MICH. — Bernard Financial Group (BFG) has arranged a $4.8 million loan for the refinancing of a 129-unit multifamily property in the Detroit suburb of Southfield. Dennis Bernard and Joshua Bernard of BFG arranged the loan on behalf of the borrower, Claymoor Properties LP. Securian Life Insurance Co. provided the loan, details of which were not provided.

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AcquisitionsIllinoisMidwestMultifamily

SVN Chicago Commercial Brokers $2.2M Sale of Apartment Building in Windy City’s Avondale Neighborhood

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the sale of an eight-unit apartment building in the city’s Avondale neighborhood for $2.2 million. The property is located at 3110 W. Belmont Ave. and features units that average 2,000 square feet each. Paul Cawthon and Angelo Labriola of SVN represented the undisclosed seller. The buyer was based in New York.

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AcquisitionsIllinoisIndustrialMidwest

HE Equipment Buys 16,867 SF Truck Repair Facility in Fairmont City, Illinois

by Kristin Harlow

FAIRMONT CITY, ILL. — HE Equipment has purchased a 16,867-square-foot truck repair facility in Fairmont City, just east of St. Louis. The purchase price was undisclosed. The property is located at 1087 State Route 3. Brokerage firm Barber Murphy represented both the buyer and the seller, Blackhawk Express.

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