PROVINCETOWN, MASS. — The Community Builders (TCB) has broken ground on Province Post, a 65-unit mixed-income housing project located in the Cape Cod community of Provincetown. The property’s affordable component will apply to households earning between 30 and 80 percent of the area median income. The unit mix will include 18 studios, 32 one-bedrooms, 10 two-bedrooms and five three-bedrooms. Construction is slated for a spring 2026 completion.
NEW YORK CITY — Marcus & Millichap has brokered the $6.3 million sale of a seven-unit apartment building located at 1226 Second Ave. on Manhattan’s Upper East Side. The four-story building consists of six one-bedroom apartments and a retail space that is leased to Italian restaurant Primola. Joe Koicim, Logan Markley, Zan Colin and Kory Barbanel of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
FRIDLEY, MINN. — Marcus & Millichap has arranged the $8.5 million sale of Highland Park, a 77-unit multifamily property in the Minneapolis suburb of Fridley. Located at 610 Osborne Road NE and built in 1969, the asset features a mix of one-, two- and three-bedroom units. Nine of the units are townhome-style layouts. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed buyer and seller.
MESA, ARIZ. — Scottsdale-based P.B. Bell and Boston-based Rockpoint have completed the disposition of The Landing at Fiesta Village, a multifamily property in Mesa. Salt Lake City-based Millburn & Co. acquired the asset for an undisclosed price. The Landing at Fiesta Village features 220 one-, two- and three-bedroom apartments. In-unit amenities include gourmet kitchens with granite countertops, custom cabinets, stainless steel appliances and outdoor balconies. Community amenities include a business center, clubroom, 24-hour fitness facility, resort-style pool, dog park, dog spa and community playground, as well as smart home door locks, thermostats and lights. P.B. Bell and Rockpoint originally acquired the 10.2-acre development site in 2020 and constructed the apartment complex, which was completed in December 2022. Matt Pesch, Asher Gunter, Sean Cunningham and Auston Groen of CBRE represented the sellers in the deal.
LOS ANGELES — Priority Capital Advisory (PCA) has arranged $21.6 million in financing on behalf of EGC Real Estate Group for the recapitalization of Kanvas, a recently completed multifamily property in Los Angeles’ Koreatown submarket. Zachary Streit of PCA arranged the financing, which BOLOUR provided. Designed by 64North, Kanvas offers 13 studios, 33 one-bedroom and 21 two-bedroom units, seven of which are designated as affordable. Units feature contemporary finishes, stainless steel appliances, gas ranges, balconies and in-unit washers/dryers. Community amenities include a rooftop amenity deck, fitness center, courtyard, storage space, 1,105 square feet of ground-floor retail space, bicycle parking and abundant subterranean and surface parking.
KNOXVILLE, TENN.— Subtext has started development of VERVE Knoxville, a 498-bed student housing property located at 1919 Lake Ave. adjacent to the University of Tennessee campus in Knoxville. The community will span 329,294 square feet, including nine floors of residential space and a five-level parking garage. The development will offer 136 fully furnished units in one-, two-, three- and four-bedroom configurations. More than 12,500 square feet of shared amenity spaces will include a wellness suite with sauna and meditation rooms; state-of-the-art fitness center and yoga studio; study pods and open study lounges; a pool terrace; and rooftop deck and lounge. The project is scheduled for completion in summer 2026. The development team includes general contractor Brinkmann Constructors and architect Dynamik Design. The community is Subtext’s second development in the Knoxville market following TENN, which opened in 2018. St. Louis-based Subtext, founded in 2014, is a student housing and multifamily developer. — Kristin Harlow and Katie Sloan
Concord Summit Capital Arranges $75M Construction Financing for Multifamily Development in Charlotte
CHARLOTTE, N.C. — Concord Summit Capital has secured $75 million in financing for the construction of a multifamily development in Charlotte. Upon completion, the community will feature a swimming pool and sun deck, rooftop terrace, fitness center, private work and conferencing spaces, garage parking with electric vehicle charging, a top-floor lounge and kitchen with a bar, bike parking and repair shop, grilling areas, a dog park and spa, community WiFi and elevators connecting parking to interior corridors. Daniel Eidson of Concord Summit arranged the financing — which will be used to refinance the existing land loan and complete construction — on behalf of the undisclosed borrower. According to Concord Summit, the initial lender for the project “encountered fiscal difficulties and could no longer fund” the development.
Kauhale Health Acquires 66,765 SF The Parker Assisted Living Community in Greenville, South Carolina
GREENVILLE, S.C. — Kauhale Health has acquired The Parker, a 66,765-square-foot assisted living and memory care facility located in the Pettigru Historic District, roughly one mile outside downtown Greenville. Comprising 75 assisted living and 17 memory care private suites, the property will be rebranded as Kauhale Pettigru. Amenities at the facility, which is 100 percent private pay, include common dining areas, private dining, a beauty salon, community room, game room, parlor room, theater, gardens, patios and multiple walking paths. A subordinate of Kauhale Health will operate the community, with Kauhale Healthcare Management managing the facility. Built in 2001 on 3.5 acres, the property recently underwent renovations to the common areas and one-third of the residential units.
LYNNWOOD, WASH. — IRA Capital, a California-based private equity firm, has acquired Quail Park of Lynnwood, a 253-unit, Class A property in the Seattle suburb of Lynnwood. Quail Park is spread across 15 acres and was developed in two phases in 2013 and 2020. The property offers independent living, assisted living, “enhanced assisted living” and memory care. IRA made the acquisition in an all-cash deal alongside an institutional joint-venture partner. The new owners plan to invest in updates to common areas and amenities. The seller and price were not disclosed.
GARLAND, TEXAS — Colliers Mortgage has provided a $13.9 million HUD-insured construction loan for Urban Village at Rosehill, a 104-unit apartment project that will be located in the northeastern Dallas suburb of Garland. The property will offer one- and two-bedroom units and amenities such as a pool, dog park, business center, fitness center and a community room. Jeff Rogers of Colliers Mortgage originated the loan through HUD’s 221(d)(4) program on behalf of the undisclosed borrower.