Monday, May 11, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

AcquisitionsMultifamilyNew JerseyNortheast

Gebroe-Hammer Brokers $15.4M Sale of Two Apartment Buildings in Plainfield, New Jersey

by David Cohen

PLAINFIELD, N.J. — Gebroe-Hammer Associates has brokered the $15.4 million sale of two apartment buildings in Plainfield. Stephen Tragash and Gehane Triarsi of Gebroe-Hammer represented the undisclosed seller of Cornell Arms and Pingry Arms apartments, which are located a half-mile apart at 735 Park Ave. and 606 Crescent Ave., respectively. The buyer was also undisclosed. Comprised of 114 total units, the six-story mid-rise properties each feature a mix of studio and one-, two- and three-bedroom layouts. Amenities include elevators, laundry facilities and paved-surface parking.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMinnesotaMultifamily

Doran, CSM Break Ground on $100M Luxury Apartment Project in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Doran Cos. and CSM Corp. have broken ground on The Expo, an apartment community in the St. Anthony Falls Historic District of downtown Minneapolis. The $100 million project calls for a 25-story, high-rise building that will include 199 units, and a lower-level building that will feature 157 apartment units and 12 townhome units. Amenities will include a pool, business center, fitness center, spa, game room, bike storage and entertainment suites. Design firm DLR Group will lead the interior design of the project. A grand opening is slated for late spring or early summer 2020.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriMultifamily

Cushman & Wakefield Arranges Sale of 680-Unit Apartment Community in St. Charles, Missouri

by Kristin Harlow

ST. CHARLES, MO. — Cushman & Wakefield has arranged the sale of Sun Valley Lake in St. Charles, a suburb of St. Louis. Ascent Residential acquired the asset for an undisclosed amount. Built in 1986, the 680-unit apartment community is located along I-70. Amenities include two swimming pools, covered parking and a fitness center. Mike Kemether, Mike Hanrahan and Bobby Mills of Cushman & Wakefield represented the seller, Priderock Capital Partners.

Continue Reading
FacebookTwitterLinkedinEmail
Sage-Desert-Tucson-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

Willis Development Opens 106-Unit Assisted Living Community in Tucson, Arizona

by Amy Works

TUCSON, ARIZ. — Willis Development has completed construction of Sage Desert, an assisted living and memory care community in Northwest Tucson. The community features 86 assisted living units and 20 memory care units, with views of the surrounding desert and mountains. Dekel Strategic Investors provided equity capital for the development, while East West Bank provided construction financing. Milestone Retirement is operating the property. The design team included Jeffrey Demure + Associates and StudioSix5. W.E. O’Neill managed construction. This is the second senior living development project that Willis Development and Dekel have completed together, with a third in California scheduled for groundbreaking later this year.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNortheastPennsylvaniaStudent Housing

HFF Brokers $30M Sale of Student Housing Portfolio at Lehigh University

by David Cohen

BETHLEHEM, PA. — HFF has brokered the $30 million sale of a 71-building, 383-bed student housing portfolio at Lehigh University in Bethlehem. HFF represented the seller, Campus Apartments, in the transaction. A private investment vehicle managed by Hong Kong-based Beacon Assets purchased the property free and clear of existing debt. The portfolio has achieved close to 99 percent occupancy during the last two academic years. Lehigh University has an enrollment of more than 7,000 students.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMassachusettsMultifamilyNortheast

Cornerstone Realty Arranges $14M in Financing for Apartment Community Near Boston

by David Cohen

NEWTON, MASS. — Cornerstone Realty Capital has arranged $14 million in financing for the acquisition and redevelopment of Langley Terrace, a 66-unit multifamily community located at 392-404 Langley Road in Newton. The property currently features three apartment buildings and one duplex, which will be leveled for the construction of an additional three-floor, 20-unit apartment building. When complete, the property will include four apartment buildings and 89 parking spaces. Amenities will include a courtyard, grilling areas, fitness center and storage areas for bikes. Construction and renovations are expected to be completed by June 2019.

Continue Reading
FacebookTwitterLinkedinEmail
Sleepy-Hollow-Anaheim-Hills-CA
AcquisitionsCaliforniaMultifamilyWestern

Bascom Group Buys 25-Unit Apartment Community in Southern California for $7.5M

by Amy Works

ANAHEIM HILLS, CALIF. — The Bascom Group has purchased Sleepy Hollow Apartments, an infill apartment community located in Anaheim Hills. An undisclosed seller sold the property for $7.5 million, or approximately $300,000 per unit. Built in 1964, the property features 25 apartment units in a mix of two- and three-bedroom units averaging more than 1,000 square feet. Manufacturers Bank provided debt financing for the acquisition. Scott Parker and Spencer Heichman of Triqor Group brokered the transaction. James D’Argenio and Chang Liu of Bascom sourced and managed the deal for the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
LoansLumentMichiganMidwestMultifamilyRED Capital Group

RED Capital Provides $18.1M Refinancing for Apartment Community in Macomb Township, Michigan

by Kristin Harlow

MACOMB TOWNSHIP, MICH. — RED Mortgage Capital has provided an $18.1 million Fannie Mae loan for the refinancing of Redwood Neighborhood in Macomb Township, about 30 miles north of Detroit. The apartment community features 132 units, all of which are single-story and include two bedrooms and an attached garage. Fannie Mae’s Green Building Certification Program was used for the financing. The borrower, Redwood Living Inc., currently manages over 10,000 units across the Midwest and the Carolinas.

Continue Reading
FacebookTwitterLinkedinEmail
FloridaLoansMultifamilySoutheast

Berkadia Provides $29M Freddie Mac Acquisition Loan for Multifamily Community in South Florida

by Camren Skelton

BOYNTON BEACH, FLA. — Berkadia has arranged a $29 million acquisition loan for Verona Boynton Beach, a 216-unit multifamily community in South Florida’s Boynton Beach. Mitch Sinberg, Matt Robbins and Wesley Moczul of Berkadia originated the 10-year loan through Freddie Mac’s Green Advantage program on behalf of the borrower, Robbins Property Associates. The floating-rate loan features seven years of interest-only payments. Verona at Boynton Beach, formerly known as Aventine, includes a mix of one- to three-bedroom units with nine-foot ceilings, crown molding, black stainless steel appliances, wood plank flooring and granite countertops. Community amenities include barbecue areas, a cardio room, conference room, putting green, business center and a clubhouse.

Continue Reading
FacebookTwitterLinkedinEmail
The-View-Reno-Nevada
Market ReportsMultifamilyNevadaWesternWestern Market Reports

Reno Multifamily Rent Growth Among Nation’s Highest as Vacancy Remains Low

by Taylor Williams

Reno’s proximity to the Bay Area is supporting an economy beyond the gaming industry. The area’s lower cost of living is also attractive for Bay Area transplants attempting to further stretch their income. Tesla is the most notable utilizer of the metro’s favorable location and business-friendly environment. The company pulled 112 permits last year to build out internal areas of the factory. The introduction of Tesla’s electric semitruck necessitates a further expansion of production in the coming years. On the supply side, development is ramping up quickly as builders finally move away from primary markets to relieve housing pressure in tertiary metros. Inventory will expand by more than 4 percent this year, representing the largest increase on record. The South Reno submarket contains a majority of the completions slated this year. More than 1,400 units are underway in the submarket, including nearly 1,000 scheduled for delivery in 2019. Builders are also active in the Sparks submarket, where 600 units are underway and scheduled for completion. The introduction of new units has pushed up the percentage of properties offering leasing incentives to 16 percent. Still-tight conditions are limiting the average incentive to just nine days of free rent. An influx of …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts