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Tenth-G-San-Diego-CA
AcquisitionsCaliforniaMultifamilyWestern

Lowe Acquires 207-Unit Tenth & G Multifamily Community in San Diego

by Amy Works

SAN DIEGO — Lowe has purchased Tenth & G, a multifamily property located in downtown San Diego. Terms of the transaction were not released. Rachel Parsons, Derrek Ostrzyzek, Mike Murphy and Kenji Thomas of CBRE represented the undisclosed seller in the deal. Andrew Behrens and Jesse Weber of CBRE facilitated a loan on behalf of of the buyer. Built in 2008, the eight-story Tenth & G features 207 studio, one- and two-bedroom floor plans, averaging 704 square feet. The building features floor-to-ceiling windows, generous ceiling heights, exposed concrete accents and expansive panoramic views of the city and bay. At the time of sale, the property featured original finishes. The buyer plans to implement a comprehensive interior renovation and repositioning of the common area amenities.

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Citra-Apts-Sunnyvale-CA
AcquisitionsCaliforniaMultifamilyWestern

Prime Residential Sells 147-Unit Citra Apartments in Sunnyvale, California

by Amy Works

SUNNYVALE, CALIF. — Prime Residential has completed the disposition of Citra, a value-add multifamily property located at 745 Bernardo Ave. in Sunnyvale. Terms of the transaction were not released. Ryan Wagner, Brandon Geraldo, Matt Kroger and Fatai Alashe of JLL Capital Markets represented the seller in the deal. Charles Halladay, Jonah Aelyon, Sarah Murphy and Joseph Choi of JLL originated a $44.2 million Freddie Mac loan for the undisclosed buyer. Built in 1968 and renovated in 2019, Citra offers 147 one- and two-bedroom apartments, 133 of which are fully renovated with vinyl plank flooring, quartz countertops and upgraded bathroom vanities. All units contain in-unit washers and dryers. Community amenities include a landscaped pool terrace, spa, fitness center with spin room, outdoor barbecue and picnic areas, a business center, community room, children’s playroom, media room and an outdoor play structure.

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Civic-Center-Plaza-Simi-Valley-CA
CaliforniaLoansRetailWestern

Gantry Secures $26M Bridge Loan for Retail Center in Simi Valley, California

by Amy Works

SIMI VALLEY, CALIF. — Gantry has secured a $26 million bridge loan to refinance maturing debt for Civic Center Plaza, a retail center in Simi Valley. Situated on 11.5 acres, the 145,000-square-foot asset is occupied by Regal IMAX Cinema, Starbucks Coffee, Panda Express, Carl’s Jr., two credit unions, Unleashed by Petco and a new grocer, which is slated to open in 2026. Mark Ritchie and Austin Ridge of Gantry represented the borrower, a private real estate operator. Funds managed by affiliates of Fortress Investment Group provided the three-year, nonrecourse loan, which features a variable rate and interest-only term.

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2411-Broadway-St-Vancouver-WA
LoansMultifamilyWashingtonWestern

Priority Capital Advisory Arranges $12M Loan for Multifamily Project in Vancouver, Washington

by Amy Works

VANCOUVER, WASH. — Priority Capital Advisory has arranged a $12 million bridge loan for Hudson West, a 50-unit Class A apartment property in Vancouver. The financing was arranged for Cascadia Development Partners to replace a maturing construction loan, extending financial flexibility through lease-up stabilization. Located at 2411 Broadway St., Hudson West offers 11 studio, 25 one-bedroom and 14 two-bedroom units in a three-story building. Each unit features private balconies, gourmet kitchens, walk-in closets and high-end finishes. Onsite amenities include a coffee bar, multiple common areas and 39 secured parking spaces.

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DevelopmentMichiganMidwestMultifamilyStudent Housing

Landmark Properties, Cerca Trova Open 521-Bed Student Housing Community in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — Landmark Properties and Cerca Trova LLC have opened The Legacy at Ann Arbor, a 521-bed student housing community at 616 E. Washington St. in Ann Arbor. Designed by ESG Architecture & Design, the project consists of two interconnected buildings — a 19-story high-rise and a mid-rise structure attached to the historic Michigan Theater. Landmark Construction was the general contractor. The development is fully leased ahead of the 2025-2026 school year. The Legacy at Ann Arbor offers a mix of studios to five-bedroom apartments across 253 units. Apartments come fully furnished and wired for high-speed internet and cable. The development features more than 9,700 square feet of amenities, including a rooftop pool deck and resident clubroom, academic lounge, fitness center and bike storage. The project also includes 4,150 square feet of ground-floor retail space and onsite gated parking. The building is immediately adjacent to the University of Michigan campus. With the opening of The Legacy at Ann Arbor, Athens, Ga.-based Landmark currently operates and manages more than 2,400 beds across six properties in Michigan.

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DevelopmentHospitalityMidwestMissouri

Midas Building Group Completes $20M Dual-Branded Hotel Project Near St. Louis Airport

by Kristin Harlow

ST. LOUIS — Midas Building Group has completed a $20 million dual-branded hotel at 10300 Natural Bridge Road serving the nearby St. Louis Lambert International Airport. Lawrence Group was the architect, and Lodging Hospitality Management was the developer. The project connects the existing St. Louis Airport Hilton hotel built in the 1960s with a new 78,957-square-foot Hampton Inn hotel. In addition to architecture, Lawrence Group provided interior design, furniture procurement and landscape architecture on the project, which also included extensive interior renovations to the Hilton’s existing 18,100-square-foot, first-floor public areas. The Hilton’s four-story wing was replaced with a new six-story, 128-bed Hampton Inn hotel designed to operate independently from the adjacent Hilton hotel. Hampton Inn guests are able to utilize amenities within the renovated Hilton, including the fitness center, business center and indoor pool. Construction of the Hampton Inn portion was coordinated to not disrupt operations of the Hilton hotel, which provides an additional 397 rooms.

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AcquisitionsDevelopmentIllinoisMidwestMultifamily

SVN Chicago Commercial Brokers $6M Sale of Multifamily Development Site in Roscoe Village

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the nearly $6 million sale of an 80,000-square-foot land parcel at 2221 W. Oakdale Ave. in Chicago’s Roscoe Village neighborhood. Developer Zev Salomon of ZSD Dorp. purchased the site with plans to transform the long-vacant parcel into a 35-unit row home community called RiverWard Row Homes. Wayne Caplan and Adam Thomas of SVN Chicago represented the undisclosed seller, while Matthew Lucas of Accretive LLC and Kale Realty represented the buyer. The deal took more than a year to close due to a zoning change and coordination with the Army Corps of Engineers on river access, according to Caplan.

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DevelopmentIllinoisIndustrialMidwest

CRG Begins Development of 85,680 SF Spec Industrial Facility in Cicero, Illinois

by Kristin Harlow

CICERO, ILL. — CRG has begun development of The Cubes at Cicero, an 85,680-square-foot speculative industrial facility in Cicero, just west of Chicago. The project at 5401 W. Roosevelt Road will feature a clear height of 32 feet, 16 dock-high loading doors, two drive-in doors and approximately 2,000 square feet of office space. Thomas Rodeno, Patrick Turner and Sean Austin of Colliers will market the development for lease. DSI is the general contractor. Lamar Johnson Collaborative, CRG’s integrated architecture and design firm, is the project architect.

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Paseo-Austin
DevelopmentMultifamilyTexas

LV Collective Begins Leasing 48-Story Apartment Tower in Downtown Austin’s Rainey Street District

by Taylor Williams

AUSTIN, TEXAS — Locally based multifamily and student housing developer LV Collective, formerly known as Lincoln Ventures, has begun leasing Paseo, a 48-story apartment tower located at 80 Rainey St. in downtown Austin. Paseo offers 557 units in studio, one-, two- and three-bedroom floor plans, as well as four penthouses and a pool, deck and bar on the 12th floor with views of Lady Bird Lake. Residents also have access to a ground-level café and bar, a fitness center with a yoga studio, cold plunge and saunas and two floors of coworking space with private pods and conference rooms. Monthly rents start in the $1,900s for a studio apartment. Construction began in early 2023 and is expected to be fully complete in October.

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Heritage-Plaza-San-Antonio
LoansMultifamilyTexas

PCCP Provides $42M Acquisition Loan for Downtown San Antonio Apartment Community

by Taylor Williams

SAN ANTONIO — Los Angeles-based PCCP LLC has provided a $42 million acquisition loan for Heritage Plaza, a 341-unit apartment community located at 227 Dwyer Ave. in downtown San Antonio. Built in 2020, Heritage Plaza offers studio, one- and two-bedroom units, 34 of which are subject to income restrictions. Residences are furnished with stainless steel appliances, kitchen islands, walk-in closets and balconies/patios in each unit. Amenities include a pool, fitness center, outdoor kitchen, rooftop terraces and a resident clubhouse, as well as 4,600 square feet of ground-floor retail space. The borrower was Austin-based RPM Living Investments.

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