BALTIMORE — McCormack Baron Salazar, an affordable housing developer and operator based in St. Louis, and the Housing Authority of Baltimore City have closed on financing for the next 150 apartments at Perkins Square, advancing the $398 million redevelopment of the former Perkins Homes in East Baltimore. Phases 5A and 5B, representing approximately $87 million in development costs, will include 111 income-restricted and 39 market-rate units. The first three phases of Perkins Square included 411 mixed-income units delivered between 2024 and 2025, while the 154-unit fourth phase is under construction with completion slated for 2027. Perkins Square is replacing Perkins Homes, a 629-unit public housing community built in 1942. Demolition began in 2021 as part of Baltimore’s broader Perkins-Somerset-Oldtown Transformation Plan, a 244-acre redevelopment backed by HUD Choice Neighborhoods funding that is replacing the former public housing while adding mixed-income residences, infrastructure, parks and a new school. Phase 5A will include 60 apartments with a total development cost of approximately $41.6 million. Phase 5B, with 90 apartments, carries a cost of approximately $45.7 million. Tenants in 67 of the planned 150 apartments will receive rental assistance through the Housing Choice Voucher Program, formerly known as Section 8, as part of …
Property Type
Joint Venture Purchases 962-Bed Student Housing Community Near Mississippi State University
by John Nelson
STARKVILLE, MISS. — A joint venture between an affiliate of Monument Square Investment Group and funds managed by an undisclosed investment management firm has purchased The Social Block and Townhomes, a 962-bed student housing community located near the Mississippi State University campus in Starkville. The property offers 385 units in two- and four-bedroom apartment and townhome configurations. Shared amenities include a resort-style pool, 24-hour fitness center, business lounge, green space and grilling stations. The seller and terms of the transaction were not released.
DAHLONEGA, GA. — JLL has arranged the sale of Dahlonega Village, a Publix-anchored shopping center located at 23 Maxwell Lane in Dahlonega, which sits 65 miles northeast of Atlanta. A private investor purchased the property from Watkins Real Estate Group for $21.2 million. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented the seller in the transaction, and Austin Sumner Properties represented the buyer. Built in 2024, Dahlonega Village sits on 13.4 acres and has direct access to Ga. Highway 400. The grocery-anchored shopping center was fully leased at the time of sale to tenants including Great Clips, The UPS Store, Lifestyle Nail Bar, Spice Wing, Jersey Mike’s Subs, Tropical Smoothie Café, Rachel Remington Design, Itala Pizza and Hacienda Bar & Grill. Publix has 19 years remaining on its initial lease term at the center, according to JLL.
RENO, NEV. — Reno-based Metcalf Builders has broken ground on Skyline Flats, an affordable housing development in Reno. Developed in partnership with Dominium, the 570,663-square-foot community will feature 14 residential buildings offering a total of 402 apartments. Residences will offer in-unit laundry and modern finishes. The property will feature sustainable components, including an onsite solar energy system to offset common-area and operational energy demands. Additionally, the community will incorporate modern energy-efficiency, accessibility and life-safety standards throughout. Construction of Skyline Flats is underway, with completion slated for January 2029.
LAS VEGAS — The Bascom Group has refinanced Gateway Villas Apartments in Las Vegas with a $30.8 million loan. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA Capital Markets arranged the financing, with Bridge Investment Group providing the loan. The Bascom Group acquired the 200-unit community in December 2021. Gateway Villas was constructed in 1984 and 1985 and comprises one- and two-bedroom units and a pool, clubhouse, fitness center, putting green and grilling area. Bascom completed a renovation program during its hold that updated amenities and repurposed the putting green into a central park with a shaded play structure.
FOUNTAIN VALLEY, CALIF. — SlateView Capital has completed the acquisition of Parkview Estates, a 151-unit assisted living and memory care community located in Fountain View, approximately 40 miles southeast of Los Angeles. Amenities at the property, which was completed in 2021, include restaurant-style dining, activity spaces, a fitness and therapy area, a salon and a theater. The seller and sales price were not disclosed. This marks the second acquisition for SlateView since the firm’s inception. Azhar Jameeli, formerly of IRA Capital, and Kendall Young established SlateView in late August.
Slatt Capital Arranges $12M Refinancing for Multi-Tenant Retail Center in Palm Springs, California
by Amy Works
PALM SPRINGS, CALIF. — Slatt Capital has arranged a $12 million loan to refinance Gene Autry Plaza, a 60,629-square-foot multi-tenant retail center located in Palm Springs. Michael Kaplan and Andrew Friedeberg of Slatt Capital arranged the five-year permanent loan, which was structured with a 30-year amortization schedule, through a life insurance company on behalf of the unnamed borrower. Smart & Final Extra! anchors Gene Autry Plaza, which was built in 2009. Additional tenants at the property include Staples, Sports Clips, Goody’s Café, Panera Bread, Firehouse Subs and Five Guys.
ETNA, OHIO — CRG has broken ground on two Class A industrial buildings totaling 911,040 square feet at The Cubes at Etna, a 305-acre master-planned industrial park in Etna, about 20 miles southeast of downtown Columbus. Spanning 750,120 square feet, Building B is fully leased to Omega Morgan, a specialized transportation, heavy rigging and machinery moving services company that already occupies Building D and is expanding its presence at the park. the second new property, Building C, measures 160,920 square feet and is being developed on a speculative basis. Both buildings are slated for completion in 2027, with Building C expected to deliver in the summer. Located near I-70, Buildings B and C are supported by a 15-year, 100 percent tax abatement. Building B will feature a clear height of 40 feet, 141 dock doors, four drive-in doors, 185-foot truck courts, 50-by-54-foot column spacing, 4,00-amp power service, 397 vehicle parking spaces and 219 trailer parking stalls. Building C will feature a clear height of 32 feet, 30 dock doors, two drive-in doors, a 185-foot truck court, 50-by-54-foot column spacing, 60-foot speed bay, 174 vehicle parking spaces and 63 trailer parking stalls. Both buildings are being developed in partnership with an …
WAUKEE AND JOHNSTON, IOWA — CBRE has brokered the sale of a two-property multifamily portfolio totaling 540 units in the Des Moines suburbs of Waukee and Johnston. CBRE’s Cy Fox, Ray Hamilton and Clark Matthews represented the sellers, ARTISAN Capital Group and MLG Capital. The portfolio includes Alice Patricia Apartments in Waukee and Sterling Pointe Apartments in Johnston. Built between 2013 and 2020, the properties are located less than eight miles apart.
SIOUX FALLS, S.D. — Northmarq has provided $26.1 million in Fannie Mae financing for Foxmoor Apartments, a 350-unit community in Sioux Falls. John Reed of Northmarq arranged the financing on behalf of the borrower, Samuelson Development. The fixed-rate loan features a 10-year term. The property consists of three four-story buildings with a mix of studio, one- and two-bedroom units averaging 748 square feet as well as 2,300 square feet of commercial space. Amenities include a 9,600-square-foot clubhouse with a theater, community room, indoor pool, fitness center and spa.