MADISON, WIS. — ACRES Capital LLC has originated a $26.3 million loan for the acquisition of Aberdeen Apartments in Madison. The high-rise student housing property is located near the University of Wisconsin-Madison campus. The 12-story building features 224 beds across 77 units along with two commercial suites. The property’s total net rentable area is 69,033 square feet. Loan terms were not provided.
AURORA, ILL. — Waterton has provided a $16 million preferred equity investment for the development of the Residences at Eastbank, a 258-unit apartment complex in downtown Aurora. Chicago-based DAC Developments is developing the five-story project with additional support from the City of Aurora. Geneva Capital Group arranged the financing and also provided a $45 million senior loan for the development on behalf of its bank syndication program. Construction began in May and is slated for completion in 2026. The Residences at Eastbank is situated on the eastern edge of the Fox River adjacent to Aurora Transportation Center with Metra service to downtown Chicago. The property will include a mix of studios, one-, two- and three-bedroom residences. Amenities will include an outdoor atrium with a resort-style pool, fitness center, outdoor seating and an indoor parking garage.
DEERFIELD, ILL. — Skender has broken ground on Deerfield Supportive Living, a 147-unit supportive living development in the Chicago suburb of Deerfield. Developed by Celadon Partners, the four-story building will offer affordable senior living apartments at 1101 Lake Cook Road. The project will feature dining rooms, space for private dining and events, activity rooms, a library, salon and general store. Slated for completion in mid-2026, the project is pursuing Enterprise Green Communities Building certification, which was developed to align affordable housing investment strategies with environmentally friendly building practices. Deerfield Supportive Living will feature eco-friendly paint, coatings, plumbing fixtures, lighting, heating equipment and appliances. The project team includes Assemble Design Workshop as architect and SAS Architects & Planners as interior designer.
CHICAGO — Chicago-based developers Range Group and HSA Commercial have acquired two adjacent parcels totaling 2.3 acres within the Kinzie Planned Manufacturing District on Chicago’s Near West Side. The firms plan to develop a pair of 35,000-square-foot small-bay warehouses on the sites, located at 2519 W. Fulton Ave. and 2520 W. Lake St. Developed on a speculative basis, the warehouses will be able to accommodate multiple tenants or a single user and will offer a clear height of 28 feet, individual drive-in doors, drive-in docks capable of accommodating 40-foot trucks and secured auto parking. Demolition of existing structures on the parcels is expected to begin this spring, with construction of the new buildings being completed by early next year. Chicago-based ARCO/Murray is the design-build general contractor. Larry Goldwasser and Matt Cowie of CBRE are the leasing agents.
NORTH CANTON, OHIO — Cronheim Mortgage has arranged $5 million in leasehold financing for a single-tenant industrial facility in North Canton. The 220,000-square-foot property is fully occupied by Harry London Candies Inc., a subsidiary of Italian confectionary giant Ferrero. The facility was constructed in 1995 specifically for the manufacturing of chocolate and features a Fannie May & Harry London Chocolates factory store. Harry London was acquired by Ferrero in 2017, but Fannie May operates as a standalone entity and brand within the Ferrero Group. Allison Villamagna, Dev Morris and Andrew Stewart of Cronheim placed the financing with one of Cronheim’s long-standing correspondent lenders. Cronheim will service the loan, which is fully amortized over six years. The borrower was an affiliate of New York-based Sachs Cos.
JACKSONVILLE, FLA. — The Wideman Co. has acquired Citi Campus Jacksonville, a 73-acre office park located at 14000 Citicards Way in the Baymeadows neighborhood of Jacksonville. Developed in 2005, the campus spans 530,000 square feet and includes three office buildings, an amenity center with a made-to-order food hall, outdoor dining space, a large conferencing facility and 2,652 parking spaces. The campus was acquired from Citigroup, which will continue to lease 230,000 square feet at the property, for an undisclosed price. Chuck Diebel of Colliers has been tapped to lease the remaining 260,000 square feet of office space. The property recently underwent $12.9 million in renovations, which included waterproofing of the buildings, revolving door replacements and breakroom refurbishment. Jay Miller, AJ Felberbaum, Spencer Miller, Noah Rothman and Jonah Gentleman with BayBridge Real Estate Capital arranged acquisition financing on behalf of the buyer. The loan amount was not disclosed. Jacksonville is the fastest growing metropolitan market in the state of Florida and a top five destination for millennials relocating, according to JLL, which brokered the transaction. Orlando-based Wideman Co. is a real estate investment firm focused on Class A, single-tenant office and industrial assets. The firm oversees $1.6 billion in commercial real estate …
As the student housing sector readies for a new generation of students to enter campuses — Generation Alpha — a few of the ‘tried and true’ amenity spaces that were hot with millennials or Gen Z have fallen by the wayside. Golf simulators, movie theaters and bohemian styling with baskets and lots of greenery are just a few of the once popular design choices that are now on the outs, according to Lucy Harrison, brand marketing manager with SouthPark Interiors. Gone, too, are the days of designing one ‘Instagramable’ moment for your building and calling it a day, says Chelsea Kloss, executive vice president of design and curation with LV Collective. “Students want to live in a building that is beautiful and inspiring from all angles — not just with one space built for ‘the gram,’” she says. “They want not only to capture more organic content to share, but to experience it real-time. As designers, that challenges us to push the envelope on experiential design and the importance of finishing all aspects of a built environment.” Students’ desires for their fitness and wellness spaces have also seen a shift over the past few years, according to Kloss. “Designing …
DALLAS — Global private equity firm KKR has provided $95 million in financing for the 255-room Marriott Uptown Dallas hotel. The financing consists of $87.5 million in initial loan proceeds used to replace the property’s outstanding debt, as well as two future-funded earnout facilities that provide potential access to $7.5 million in additional capital. Completed in early 2021, the 14-story hotel is located at 3033 Fairmount St. and features a rooftop pool, lounge, ground-floor restaurant and 13,000 square feet of meeting and event space. A partnership between NexPoint Diversified Real Estate Trust (NYSE: NXDT) and Alamo Manhattan owns the hotel.
MURFREESBORO, TENN. — Crescent Communities has broken ground on RENDER Manchester Farm, a 309-unit apartment community located on a 35-acre farm in the Middle Tennessee city of Murfreesboro. The Charlotte-based developer expects to open first units in summer 2026. Situated 30 miles south of Nashville, RENDER Manchester Farm will feature a mix of one-, two- and three-bedroom units, as well as rural-centric amenities including a functioning farm, garden, fully stocked toolshed and a clubhouse with a front porch and swings. Other amenities will include a pool area with a smoker, fire pit and picnic tables, as well as a dog park and a fitness center with a yoga studio. The design-build team includes Crescent Communities Construction, Dwell Design Studio, Edge and Huddleston-Steele Engineering. Capital partners include ParkProperty Capital, BOK Financial and Cadence Bank.
FORT MYERS, FLA. — Encore Multifamily, a division of Dallas-based Encore Enterprises, has obtained a $48.7 million HUD 221(d)(4) loan for the construction of a new apartment development in Fort Myers. The project, known as Encore Daniel Falls, will comprise 240 Class A apartments and be situated on 6.7 acres near I-75 and South Florida International Airport. Encore Multifamily broke ground on the development in December and expects to deliver the community by third-quarter 2026. Upon completion, Encore Daniels Falls will feature studio, one-, two- and three-bedroom units, as well as a clubhouse, fitness center, business center, pool, dog park and a 24-hour package room.