HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a 559-unit transit-oriented apartment community located in Hialeah, approximately 13 miles outside Miami. Upon completion, the two-tower building will feature residences with two bedrooms and two bathrooms ranging from 500 to 800 square feet. Amenities at the community will include coworking space, an outdoor kitchen, pool and a gym. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of the Metro Center development, which will comprise roughly 2.3 million square feet of multifamily and retail space and is scheduled for completion in 2027.
FORT WORTH, TEXAS — Wisconsin-based investment firm MLG Capital has sold Copperfield Apartments, a 323-unit multifamily community located on the southwest side of Fort Worth. Copperfield Apartments offers one- and two-bedroom units and amenities such as a pool, fitness center, outdoor grilling and dining stations, business center, package lockers and onsite laundry facilities. Michael Ware, Taylor Hill, Drew Kile, Joey Tumminello, Will Balthrope, William Hubbard and Cameron Purse of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented MLG Capital, which purchased the property in 2019, in the transaction. The team also procured the buyer, Dallas-based investment firm Rise48 Equity, which plans to invest about $9 million in capital improvements and rebrand the property as Rise Spring Pointe. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk, also with IPA, arranged an undisclosed amount of acquisition financing for the deal.
BOSTON —MassDevelopment has provided $39.9 million in tax-exempt bond financing for a 115-unit affordable seniors housing project in the Brookline area of Boston. The property will feature one-bedroom units that will be reserved for renters earning 60 percent or less of the area median income and will replace 60 outdated existing public housing units. Bond proceeds will also be used to build 32 parking spaces. Construction began in January and is scheduled for completion in December 2025. The borrower, 32 Marion Apartments LLC, is a for-profit affiliate of the Brookline Housing Authority. Eastern Bank and Rockland Trust purchased the bond.
BLOOMFIELD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Manor House, a 125-unit apartment complex in Bloomfield, located just outside of Hartford. The two-story building, which was originally constructed on 15 acres in 1963, offers one- and two-bedroom units, according to Apartments.com. Victor Noletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller and procured the buyer in the transaction.
HACKENSACK, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged a $6 million permanent loan for Grand Apartments, a 74-unit building in the Northern New Jersey community of Hackensack. Grand Apartments was built in 1970 and houses three studios, 48 one-bedroom apartments, 22 two-bedroom units and one three-bedroom unit. Andrew Stewart, Dev Morris and Allison Villamagna of Cronheim placed the loan through Farm Bureau Life Insurance on behalf of the undisclosed borrower.
ATCHISON, KAN. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Atchison, located along the Missouri river about 45 miles northwest of Kansas City. The purchase price and seller were undisclosed. A subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, acquired the real estate. Gateway Healthcare, Ensign’s Kansas-based subsidiary, will handle operations. Ensign’s portfolio totals 302 healthcare operations, 27 of which also include senior living operations, across 14 states.
PHOENIX — California-based IDEAL Capital Group has acquired Sentio, a multifamily property in North Phoenix, from Hines for $108 million. Completed in 2023, Sentio features 325 open-concept floorplans with top-of-market unit interiors. The Class A property offers smart-home technology; energy-efficient appliances and window treatments; sustainability-focused construction; high-end finishes; interconnected, resident-centric amenity spaces; and walking paths. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Greon of CBRE represented the seller in the deal. Trevor Breaux, Troy Tegeler and Ryan Greer of CBRE Debt & Structured Finance arranged financing for the buyer.
PORTLAND, ORE. — Ziegler, as exclusive financial advisor to the seller, has arranged the acquisition of Parkview Christian Retirement Community in Portland. Founded by members of the Columbia Baptist churches, the nonprofit Oregon Baptist Retirement Home Society opened its doors in 1944. The community expanded several times over the next 40 years. In 1987, the organization moved to its current location in northeast Portland and expanded again 10 years later. Today, the campus consists of 115 rental independent living apartments and 62 assisted living units spread over approximately six acres of land. The buyer is a for-profit owner-operator. The price was not disclosed. The Ziegler investment banking team included Humair Sabir, Stephen Johnson, Marie Carlson, and Ryan Anders.
NASHVILLE, TENN. — Development partners Southwest Value Partners and StreetLights Residential are currently underway on the construction of two residential towers at Nashville Yards, with plans to open in November. Comprising 34 and 35 stories, respectively, The Everett and The Emory will total 650 units. Amenities at the properties will include a shared third-floor deck featuring a pool, fitness center, game room, resident bar, workspace and a golf simulator. The project team includes architect StreetLights Creative studio and general contractor Clark Construction. Leasing is scheduled to begin this summer. Upon completion, the 19-acre mixed-use Nashville Yards development will also feature a 591-room hotel and 4,500-person concert venue, as well as office and retail space.
NEW YORK CITY — Slate Property Group has received a $97 million loan for the refinancing of The Yellowstone, a 166-unit multifamily project located in the Forest Hills area of Queens. Designed by Aufgang Architects, the newly built property offers one- and two-bedroom units that range in size from 475 to 950 square feet and feature stainless steel appliances, granite countertops and backsplashes, as well as individual washers and dryers. Select units also have private balconies. Amenities include a fitness center, lounges and a rooftop terrace, and the building’s retail space houses a Trader Joe’s grocery store. Daniel Fromm of Newmark arranged the five-year, fixed-rate loan through Apollo Global Management on behalf of Slate.