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Multifamily

Level-Sixteenth-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Sares Regis Multifamily Divests of Level at Sixteenth Apartment Property in Phoenix for $61.5M

by Amy Works

PHOENIX — Sares Regis Multifamily Investment Management has sold Level at Sixteenth, a multifamily community in the Biltmore neighborhood of Phoenix. An undisclosed buyer acquired the asset for $61.5 million, or $256,250 per unit. Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Completed in 2010, Level at Sixteenth offers 240 apartments, temperature-controlled interior corridors, a resort-inspired swimming pool and spa, a two-story fitness center and a parking garage. The apartments, which average 794 square feet, include stainless steel appliance packages and oversized walk-in closets.

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AcquisitionsGeorgiaSoutheastStudent Housing

TSB Realty Arranges Sale of 543-Bed Student Housing Community Near Kennesaw State University in Georgia

by John Nelson

MARIETTA, GA. — TSB Realty has arranged the sale of The Indy, a 543-bed student housing community located near the Kennesaw State University campus in Marietta. Heitman purchased the property on behalf of an institutional investor from a joint venture involving Vesper Holdings. Terms of the transaction were not released. Delivered in 2020, the community offers 172 units in a mix of one-, two-, three- and four-bedroom configurations. Shared amenities include a saltwater resort-style pool, 24-hour fitness center, clubhouse, cyber café and coffee bar, game room, indoor and outdoor rooftop lounge, putting greens and fire pits. The Indy was fully occupied at the time of sale.

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Avana-Desert-View-Scottsdale-AZ
AcquisitionsArizonaMultifamilyWestern

Greystar Sells 412-Unit Avana Desert View Multifamily Community in Scottsdale to Knightvest

by Amy Works

SCOTTSDALE, ARIZ. — Greystar has completed the disposition of Avana Desert View, an apartment property located at 17030 N. 49th St. in Scottsdale. Knightvest acquired the 412-unit asset for an undisclosed price. Built in 1996 on 18.5 acres, Avana Desert View is a two- and three-story community offering two swimming pools and spas, a playground and sand volleyball court. Apartments feature washers/dryers, stainless steel appliances and walk-in closets. Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale and financing for the transaction. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer. Brian Eisendrath, Cameron Chalfant and Tyler Johnson of IPA Capital Markets arranged five years of interest-only acquisition financing for the buyer.

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1450-N-Fair-Oaks-Ave-Pasadena-CA
AcquisitionsCaliforniaMultifamilySeniors HousingWestern

NAI Capital Negotiates $5.1M Sale of Assisted Living Site Slated for Adaptive Reuse in Pasadena

by Amy Works

PASADENA, CALIF. — NAI Capital Commercial has arranged the sale of a former assisted living facility located at 1450 N. Fair Oaks Ave. in Pasadena. Agri Capital sold the asset to 1450 N Fair Oaks LLC for $5.1 million, or $180 per square foot of building area and $147 per square foot of land. Stephen Lam, Guillermo Olaiz and John Archibald of NAI Capital represented the seller in the deal. The 28,512-square-foot, 42-unit former nursing facility is situated on a 34,980-square-foot lot and was vacant at the time of sale. The owner plans to repurpose the building as a temporary housing facility focused on mental health support and substance use prevention.

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AcquisitionsMidwestMultifamilyOhio

Abide Capital, MCB Acquire Harlow on Main Apartment Complex in Columbus for $16.5M

by Kristin Harlow

COLUMBUS, OHIO — Abide Capital Group and joint venture partner MCB Real Estate have acquired Harlow on Main, a 120-unit apartment complex in downtown Columbus, for $16.5 million. Purpose-built for working professionals and recent graduates, the property at 195 E. Main St. in the Civic Center District was completed in 2020. At the time of sale, Harlow on Main was more than 86 percent leased. The asset features 7,000 square feet of ground-floor retail space, structured parking and an amenity suite. WesBanco provided acquisition financing. Newmark marketed the property for sale on behalf of the undisclosed seller.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $10.7M Sale of Apartment Building in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has arranged the $10.7 million sale of a 22-unit apartment building located at 811 W. Lill Ave. in Chicago’s Lincoln Park neighborhood. The vintage asset features four one-bedroom, 12 two-bedroom and six three-bedroom units. Floor plans average 1,078 square feet. Constructed in 1901, the property has been recently updated with new finishes as well as in-unit laundry and individual HVAC. Brad Feldman of Interra represented the buyer, a Chicago-based private investor. Joe Smazal of Interra represented the seller, a local private investor and developer.

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Troy Marek Regions Real Estate Capital Markets quote from article
Content PartnerFeaturesLeasing ActivityLoansMidwestMultifamilyNortheastRegions Real Estate Capital MarketsSeniors HousingSoutheastTexasWestern

Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers

by Sarah Daniels

By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amid some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing.  Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …

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Azola-Avery-Centre-Round-Rock
DevelopmentMultifamilyTexas

ZOM Living, CP Capital Complete 359-Unit Multifamily Project in Round Rock, Texas

by Taylor Williams

ROUND ROCK, TEXAS — A partnership between Orlando-based ZOM Living and CP Capital has completed Azola Avery Center, a 359-unit multifamily project in the northern Austin suburb of Round Rock. Located within the 1,200-acre Avery Centre master-planned development, the garden-style property offers one-, two- and three-bedroom units that range in size from 573 to 1,564 square feet. Amenities include a pool, outdoor pavilion with grilling stations and TVs, a dog park, fitness center, private coworking offices and a grab-and-go convenience store. JHP designed Azola Avery Center, and Rampart served as the general contractor. Monthly asking rents start at $1,200 for a one-bedroom apartment.

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Belmond-Haltom-City
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 312-Unit Belmond Apartments in Haltom City, Texas

by Taylor Williams

HALTOM CITY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Belmond, a 312-unit apartment community located north of Fort Worth in Haltom City. Built on 17 acres in 2001, the property offers one-, two- and three-bedroom units with an average size of 980 square feet. Amenities include a pool, fitness center, playground, dog park, coffee bar, clubhouse, outdoor grilling and dining stations and package lockers. Joey Tumminello, Taylor Hill, Drew Kile, Michael Ware and William Hubbard of IPA represented the seller, Dallas-based Knightvest Capital, in the transaction and procured the buyer, an entity doing business as TwinkleStar Asset LLC.

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LoansMultifamilyNew YorkNortheast

M&T Realty Capital Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — M&T Realty Capital Corp. has provided a $50 million Freddie Mac loan for the refinancing of The Alyn, a 56-unit apartment building in Manhattan’s Carnegie Hill neighborhood. Completed in 2019, The Alyn offers one-, two-, three-, four- and five-bedroom units and amenities such as a lounge, wellness center and a children’s playroom. Robert Barry led the M&T team that provided the fixed-rate loan. The borrower was an affiliate of Gordon Property Group, a New York-based family office that was introduced to M&T through an existing client of Connor Preece, group manager at M&T Bank.

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