Property Type

CBRE Provides $43.5M Agency Refinancing for Vibe at Echo Street West Apartments in Atlanta

by John Nelson September 17, 2025

ATLANTA — CBRE has provided a $43.5 million loan for the refinancing of Vibe at Echo Street West, a 292-unit apartment community located at 750 Echo St. NW in Atlanta’s West Midtown district. Completed in 2023, the property is part of the larger Echo Street West mixed-use development and fronts the Atlanta BeltLine’s Westside BeltLine Connector. Blake Cohen of CBRE’s Atlanta Multifamily Debt & Structured Finance team originated the Fannie Mae loan on behalf of the borrowers, Lincoln Property Co. and Bridge Investment Group. The financing will pay off existing debt and will support the lease-up and continued stabilization of Vibe at Echo Street West. The eight-story, wrap-style buildings offers a mix of studio, one- and two-bedroom units, with 20 percent designated as affordable housing. Amenities include a resort-style pool with cabanas, modern fitness center, business center with micro-offices, pet spa and an outdoor kitchen.

September 17, 2025

Acquisitions Arizona California Colorado Multifamily Nevada Western

JLL Arranges $1.1B, 15-Property Multifamily Portfolio Recapitalization

by Amy Works September 17, 2025

SAN DIEGO — On behalf of Sunroad Enterprises, JLL Capital Markets has arranged a $1.1 billion venture with Fairfield to capitalize a 15-property multifamily portfolio that spans six states. JLL also arranged $415 million in financing with Freddie Mac for 10 assets. The loan will be serviced by JLL Real Estate Capital, a Freddie Mac Optigo Lender. Additionally, $250 million of financing was secured from accounts managed by KKR. The assets, which represent a portion of Sunroad’s overall portfolio, were assembled over a six-year period. Totaling 3,830 units, the portfolio consists of six Class A core assets and nine value-add assets with ongoing renovations underway. The assets have an average vintage of 2011 and are a mix of 65 percent garden-style communities and 35 percent mid-rise communities, with six in Arizona, one in Nevada, three in Colorado, two in North Carolina, two in South Carolina and one in Georgia. Aldon Cole, Roberto Casas, Tim Wright and Bharat Madan of JLL handled the majority of the transactions, while Mark Wintner of JLL handled the Colton Apartments asset in Henderson, Nev.

September 17, 2025

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

Arcadia Capital, Platform Ventures Sell Two Build-to-Rent Communities in Metro Phoenix for $44.1M

by Amy Works September 17, 2025

CHANDLER AND MESA, ARIZ. — Arcadia Capital Group and Platform Ventures have completed the disposition of two build-to-rent (BTR) Class A communities, totaling 91 homes, in metro Phoenix. Tricon Residential acquired the assets for $44.1 million. The transactions include the $23 million sale of Bower Hudson Crossing, a 43-unit BTR community in Chandler; and the $21.1 million sale of Bower Gateway, a 48-unit BTR property in Mesa. The blended price per unit was $485,164. Built in 2024, Bower Hudson Crossing features three- and four-bedroom homes with modern interiors, private backyards and two-car garages pre-wired for electric vehicle chargers. At the time of sale, the property was fully occupied. Built in 2022, Bower Gateway offers three- and four-bedroom residences with contemporary designs, private yards, two-car garages, grass courtyards and landscaped walking trails. Ryan Boyle, Trevor Koskovich, Jesse Hudson and Logan Baca of Northmarq represented the sellers in the deal.

September 17, 2025

Acquisitions Arizona Multifamily Western

Northmarq Brokers $36M Sale of Multifamily Community in Midtown Phoenix

by Amy Works September 17, 2025

PHOENIX — Northmarq has arranged the sale of U@19th, a real estate owned (REO) multifamily property in midtown Phoenix. BrightSpire Capital sold the asset to The Eiders Co. for $36 million. Jesse Hudson, Trevor Koskovich, Ryan Boyle and Logan Baca of Northmarq represented the seller in the transaction. Built in 1973 and renovated in 2024, U@19th features 236 one-, two- and three-bedroom apartments averaging 875 square feet. The recent renovations include extensive exterior upgrades and partially completed interior updates, including stainless steel appliances, wood-inspired flooring, resurfaced quartz countertops, new white cabinet fronts with chrome pull handles, subway tile backsplash and upgraded hardware, lighting and paint.

September 17, 2025

Acquisitions Industrial New York Northeast Self-Storage

Marcus & Millichap Brokers Sale of 407-Unit Self-Storage Facility in Liverpool, New York

by Taylor Williams September 17, 2025

LIVERPOOL, N.Y. — Marcus & Millichap has brokered the sale of America Stores It, a 407-unit self-storage facility in Liverpool, located about 10 miles northwest of Syracuse. Built on 5.6 acres in 2023, the property offers 47,700 net rentable square feet of space across 31 climate-controlled units and 376 non-climate-controlled units. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record. The sales price was also not disclosed.

September 17, 2025

Acquisitions California Multifamily Western

CBRE Negotiates Sale of 76-Unit Cambridge Apartments in West Covina, California

by Amy Works September 17, 2025

WEST COVINA, CALIF. — CBRE has directed the $26.3 million purchase of Cambridge Apartments, a multifamily property in West Covina. A multifamily investment group acquired the asset, which is located at 2601 E. Valley Blvd. Situated on 5.5 acres, Cambridge Apartments offers 76 one- and two-bedroom units. Eric Chen and Justino Fa’aola of CBRE represented the buyer in the transaction.

September 17, 2025

Acquisitions California Retail Western

Marcus & Millichap Arranges Sale of 3,251 SF Retail Property in Downtown San Diego

by Amy Works September 17, 2025

SAN DIEGO — Marcus & Millichap has brokered the sale a retail property located at 1631 Sixth Ave. in downtown San Diego’s Cortez Hill submarket. Mills at Cortez LLC sold the asset to an undisclosed buyer for $1.9 million. 7-Eleven and Barber Craft Retail Condo occupy the 3,251-square-foot property. Reed Hamilton, Bill Rose and Parker Wada of Marcus & Millichap represented the seller in the deal.

September 17, 2025

Leasing Activity New Jersey Northeast Restaurant Retail

LMC Welcomes Four New Tenants to Blue Star Shopping Center in Watchung, New Jersey

by Taylor Williams September 17, 2025

WATCHUNG, N.J. — On behalf of an undisclosed landlord, Levin Management Corp. (LMC) has welcomed four new tenants to the 420,000-square-foot Blue Star Shopping Center in the Northern New Jersey community of Watchung. The leases with Burlington, Taco Bell, Nail Spa & Beyond and Marshalls total roughly 62,200 square feet. Marshalls will relocate to a 27,000-square-foot portion of a building formerly occupied by ShopRite, which is also being redeveloped to accommodate Burlington. Additionally, Taco Bell has opened a 2,900-square-foot restaurant, while Nail Spa & Beyond will operate a 5,800-square-foot salon. E.J. Moawad of LMC represented ownership in the lease negotiations. Cliff Simon of CNS represented Burlington, while Jerry Welkis and Stephan Miller of Welco Realty represented Marshalls. Bob Delia of Summit Realty represented Taco Bell.

September 17, 2025

Development Industrial Northeast Pennsylvania

Phoenix Tube Nears Completion of 75,000 SF Industrial Expansion Project in Bethlehem, Pennsylvania

by Taylor Williams September 17, 2025

BETHLEHEM, PA. — Phoenix Tube Co., a manufacturer of stainless steel products for ornamental and structural applications, is nearing completion of a 75,000-square-foot industrial expansion project in the Lehigh Valley city of Bethlehem. The facility will be situated next to the company’s existing 200,000-square-foot plant and includes dedicated space for production, warehousing and offices. Regional developer J.G. Petrucci Co. is serving as the design-build firm for the project. Construction is expected to be complete in the coming weeks.

September 17, 2025

Development Illinois Loans Midwest Multifamily Office

Mavrek, ACRES Receive Financing for Conversion of Chicago Office Building into 252 Apartment Units

by Kristin Harlow September 17, 2025

CHICAGO — Mavrek and ACRES Commercial Realty Corp. have received financing for the conversion of 65 E Wacker Place, an historic office building in Chicago, into apartments. The development will be named Wacker Place. With the issuance of the full building permit, interior construction is poised to begin. The property will be redeveloped into a 252-unit luxury apartment complex. The project team includes McHugh Construction and architect Pappageorge Haymes Partners. Chris Knight of JLL represented the development team in the placement of debt. The financing includes a $62.4 million senior loan from Derby Lane Partners and an $11 million loan from Hoyne Savings Bank. The project’s capital stack includes more than $17 million in federal and Illinois state historic tax credits, which were monetized through PNC Bank. Wacker Place will offer a mix of studios, one- and two-bedroom units. Amenities will include a coworking lounge, fitness center and rooftop deck. Morton’s The Steakhouse will continue its tenancy on the ground floor. The property was originally constructed as the Millinery Mart Building and later served as the home of the Esquire offices.

September 17, 2025

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