Property Type

PSRS Arranges $6.5M Refinancing for Flex Industrial Property in Carlsbad, California

by Amy Works April 20, 2026

CARLSBAD, CALIF. — PSRS has arranged $6.5 million in refinancing for a flex industrial property in Carlsbad. Constructed in 1998 and renovated in 2022, the asset consists of two two-story buildings totaling 65,964 square feet of net rentable area. The fully occupied, three-tenant property features a specialized mix of climate-controlled R&D/lab, warehouse and office space tailored for the biotech and semiconductor industries. Trevan Swierczewski of PSRS secured the loan, which features a competitive spread over the five-year Treasury and a flexible prepayment structure, for the undisclosed borrower through a local bank.

April 20, 2026

Acquisitions California Restaurant Retail Western

Evergreen Devco Sells Pollo Campero-Occupied Restaurant Property in Inland Empire for $2.9M

by Amy Works April 20, 2026

LAKE ELSINORE, CALIF. — Evergreen Devco has completed the disposition of a 3,000-square-foot, single-tenant restaurant property in Lake Elsinore. A San Bernardino, Calif.-based private investor acquired the asset for $2.9 million. Pollo Campero, a fast-casual Latin chicken restaurant, occupies the property on a 15-year absolute triple-net corporate ground lease with 10 percent rental increases every five years. The property is an outparcel to a Stater Bros.-anchored retail center. Bill Asher and Jeff Lefko of Hanley Investment Group Real Estate Advisors represented the seller and developer, while Greg Bedell and Lance Mordachini of Progressive Real Estate Partners represented the buyer in the transaction.

April 20, 2026

Kansas Loans Midwest Multifamily

Gantry Secures $73M Refinancing for Kansas Multifamily Property

by Kristin Harlow April 20, 2026

LENEXA, KAN. — Gantry has secured a $73 million permanent loan to refinance Prairie Creek Apartments & Townhomes in Lenexa. The 425-unit apartment community features a mix of garden-style and townhome buildings with one-, two- and three-bedroom floor plans. Amenities include a clubhouse, media room, business center, fitness center, pool, sports court, car wash facility and playground. Gantry’s Mark Reichter and Alec Frook represented the borrower, a private real estate investor. The Fannie Mae loan features a fixed interest rate and a five-year term.

April 20, 2026

Development Illinois Loans Midwest Multifamily

Draper and Kramer Provides $64.8M HUD-Insured Construction Loan for Chicago Apartment Project

by Kristin Harlow April 20, 2026

CHICAGO — Draper and Kramer Inc. has provided a $64.8 million HUD 221(d)(4) construction loan on behalf of Riverside Investment & Development for a new 12-story, 199-unit apartment building at 566 W. Van Buren St. in Chicago’s West Loop. Matt Wurtzebach, Dave Tomfohrde, Bill Barry, Jeff Ross and Kevan Briscoe of Draper and Kramer originated the loan, which features a fixed interest rate with interest-only payments during construction and converts to a fully amortizing 40-year permanent loan after year 10. The $85 million project is slated for delivery in 2027.

April 20, 2026

Acquisitions Illinois Midwest Office

Real Capital Solutions Acquires 10-Story Office Building in Naperville, Illinois for $16.1M

by Kristin Harlow April 20, 2026

NAPERVILLE, ILL. — Real Capital Solutions (RCS) has acquired MetroWest, a 10-story office building in Naperville, for $16.1 million. The 207,714-square-foot property is located at 55 Shuman Blvd. The purchase price represents a significant discount to the property’s most recent sale for $32.5 million in 2015 when it was nearly fully leased. RCS says the reset in pricing reflects broader market conditions, including higher interest rates, constrained lending and limited liquidity across the office sector. MetroWest is currently 67.6 percent leased and is anchored by Midwest Orthopaedics at Rush, which occupies 11 percent of the building under a long-term lease through 2034. Designed by architect Helmut Jahn, the building features amenities such as a fitness center, cafeteria and structured parking. RCS plans to implement a targeted leasing and repositioning strategy. Approximately 40 percent of the vacant space already includes modernized or move-in-ready suites. Newmark’s Peter Harwood, Jim Postweiler, Jack Trager and Mary Gilbank represented the undisclosed seller.

April 20, 2026

Build-to-Rent Development Midwest Ohio Single-Family Rental

Stark Enterprises to Break Ground on 120-Unit Build-to-Rent Community in Metro Columbus

by Kristin Harlow April 20, 2026

CANAL WINCHESTER, OHIO — Stark Enterprises is scheduled to break ground this spring on Lock Pointe Village, a 120-unit luxury build-to-rent community in the Columbus suburb of Canal Winchester. The land acquisition is complete, and the development is fully capitalized. The project will include 37 buildings and amenities such as a clubhouse, fitness center, pool, sport court and dog park. Lease-up is expected to begin in early 2027, with the first homes delivering that spring. Arbor Construction, the construction arm of Stark Enterprises, will serve as the builder.

April 20, 2026

Alabama Market Reports Multifamily Southeast Southeast Market Reports

Downtown Supply Meets Suburban Stability in Birmingham’s Apartment Market

by John Nelson April 20, 2026

Conditions in Birmingham’s apartment market vary by submarket heading into 2026. Several recently completed developments downtown are still stabilizing, creating short-term leasing pressure, while suburban areas across the metro continue to see steady renter demand. Much of the new multifamily development in Birmingham over the past several years has been concentrated in the downtown core. As a result, many of these properties are still working through lease-ups. Marcus & Millichap research projects roughly 670 apartments will be delivered across the metro this year, with vacancy expected to hover around 6.1 percent and average effective rents near $1,302 per month. That level of supply has created temporary softness in parts of the downtown market. Some newly delivered communities are offering concessions during lease-up periods as owners compete for tenants. In certain cases, owners are choosing to refinance rather than bring assets to market while occupancy stabilizes. These conditions are typical when several projects deliver within the same submarket over a short period of time. Outside the city center, Birmingham’s suburban apartment submarkets continue to perform well. Cities including Homewood, Vestavia Hills and Hoover remain among the metro’s most stable suburbs. Shelby County cities, including Pelham and Alabaster, are also seeing consistent …

April 20, 2026

Development Mixed-Use Texas

Craig International to Develop 189-Acre Mixed-Use Project in Denison, Texas

by Taylor Williams April 17, 2026

DENISON, TEXAS — Craig International will develop a 189-acre mixed-use project in the North Texas city of Denison. The Denison Development Alliance selected the locally based firm to lead development of the site at the intersection of U.S. Highway 75 and FM 84, which the municipal entity envisions as the “gateway” to Craig International’s $6 billion Preston Harbor master-planned community. Specific commercial and residential plans and uses for the site have not yet been announced. The project will move forward in phases, beginning with collaborative planning between Craig International and the City of Denison to refine the site plan, align on a long-term vision and recruit anchor users.

April 17, 2026

Loans Multifamily Texas

JLL Provides Agency Acquisition Financing for 589-Unit Apartment Community in Fort Worth

by Taylor Williams April 17, 2026

FORT WORTH, TEXAS — JLL has provided an undisclosed amount of Fannie Mae acquisition financing for LeftBank, a 589-unit apartment community in Fort Worth. Built in 2018 and located just west of the downtown area, LeftBank offers studio, one-, two-, three- and four-bedroom units that are furnished with stainless steel appliances, granite and quartz countertops, in-unit washers and dryers and private patios/balconies. Amenities include a pool, fitness center, bowling lounge, shared workspaces and a dog park with a washing station. Leon McBroom, Rob Bova, Lauren Dow and Ellie Savage of JLL originated the five-year, fixed-rate loan on behalf of the owner, Bow River Capital.

April 17, 2026

Affordable Housing Development Loans Multifamily Texas

Housing Trust Group Completes $26M Affordable Housing Project in Northwest Austin

by Taylor Williams April 17, 2026

AUSTIN, TEXAS — Miami-based Housing Trust Group (HTG) has completed Red Oaks, a $26 million affordable housing community in northwest Austin. Red Oaks features 70 units that are reserved for households earning up to 30, 50 and 60 percent of the local area median income. Amenities include a pool, fitness center, playground, outdoor grilling areas, a dog park, clubroom and package lockers. HTG partnered with nonprofit group AM Affordable Housing and locally based consulting firm Thoman & Butler on the project. Bank of America provided a $15.6 million construction loan for the project, and the capital stack also included $16 million in Low-Income Housing Tax Credits that were allocated by the Texas Department of Housing and Community Affairs and syndicated through Raymond James.

April 17, 2026

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