JACKSONVILLE, FLA. — Atlanta-based Mesa Capital Partners has acquired The Julington, a 260-unit luxury apartment community located in the Mandarin neighborhood of Jacksonville. Constructed in 2023 by RISE Development, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 765 square feet to 1,426 square feet. The property features elevator-serviced units, as well as resident amenities such as private coworking spaces, a resort-style pool deck, pet spa and Zen garden. Walker & Dunlop’s Atlanta office arranged the financing for the acquisition. The sales price was not disclosed. Pegasus Residential will oversee day-to-day management of the property.
COLUMBUS, OHIO — Vista Residential Partners has broken ground on Greenway Vista, a 312-unit multifamily development in Columbus. Situated near Rickenbacker Airport and Anduril’s planned mega-facility, Greenway Vista will offer a mix of one- and two-bedroom apartments averaging approximately 840 square feet in size. Parse Capital and Old National Bank provided financing for Greenway Vista. Designed by Columbus-based ArchAll Architects, the garden-style apartment community will feature a 6,500-square-foot clubhouse with fitness and business centers, resort-style swimming pool with cabanas and grilling area, a large central green area with a gameday pavilion and outdoor grill station, community garden and a pet park. The 25-acre community will also have direct access to Blacklick Greenway Trail, a 12-mile trail that runs between Reynoldsburg and Groveport on the southeastern edge of Columbus.
SELLERSBURG, IND. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Heritage Square, a 183-unit multifamily community located roughly 10 miles north of Louisville, Ky. Built in 2022 on nine acres, the garden-style apartment complex features one-, two- and three-bedroom floorplans ranging in size from 660 square feet to 1,765 square feet. Amenities at the property include a clubhouse, fitness center and a dog park. Aaron Kuroiwa, Will Balthrope and Drew Garza of IPA, as well as Tony Rogers of Marcus & Millichap, represented the seller, Form G Cos., and procured the buyer, Focused Capital, in the transaction. Josh Caruana served as Marcus & Millichap’s broker of record in Indiana in the deal.
CHICAGO — Canyon Partners Real Estate has provided a $47 million senior loan for the refinancing of American House Oak Park, a 174-unit seniors housing community in the Oak Park neighborhood of Chicago. A joint venture between affiliates of AEW Capital Management and REDICO was the borrower. The property comprises 74 independent living, 65 assisted living and 35 memory care units. Amenities at the community include a rooftop lounge, roof terraces, fitness options, a salon, game room, art studio and theater. Newmark facilitated the financing.
NEW YORK CITY — Merchants Capital has arranged $231 million in financing for Eastchester Gardens, an 877-unit affordable housing community in The Bronx. The 10-building development was originally constructed in 1950 and is home to nearly 2,000 people. The bulk of the financing consists of a $221.7 million, 30-year Freddie Mac CME permanent loan, proceeds of which will be used to fund capital improvements and preserve affordability of all units for renters earning 60 percent or less of the are median income. Capital improvements will include upgrades to heating, cooling, plumbing, lighting and electrical systems, as well as new flooring, kitchens and bathrooms and upgrades to common areas and outdoor spaces. In addition, Eastchester Gardens will be listed on the National Register of Historic Places, enabling the use of federal historic tax credits to support the property’s revitalization. The project team includes MDG Design + Construction, Infinite Horizons, Wavecrest Management and the New York City Housing Authority. Construction is underway and expected to be complete in 2028.
WILTON, CONN. — A partnership between AMS Acquisitions and Avenue Realty Capital has broken ground on a $95 million multifamily project in Wilton, located in southern Connecticut’s Fairfield County. The development will offer 208 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking space, music room and outdoor kitchens and grilling stations. Morris Betesh, Alex Bailkin and Matt O’Hanlon of Arrow Real Estate Advisors arranged a $71 million construction loan for the project through Madison Realty Capital. Scott Gance of Partners Commercial Real Estate represented the joint venture in its acquisition of the land. A tentative completion date was not announced.
BOUND BROOK, N.J. — Locally based developer Denholtz has completed The Rail at Bound Brook, a 143-unit multifamily project located about 50 miles southwest of Manhattan. The six-story building offers studio, one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas. Citizens Bank financed the project, construction of which began in May 2023. Rents start at approximately $1,800 per month for a studio apartment.
STEAMBOAT SPRINGS, COLO. — Newmark has arranged a $63 million construction loan for the development of the first phase of ROAN Steamboat Springs, a multi-phased, lift-serviced residential community within Wildhorse Meadows in Steamboat Springs. The borrower is a Steamboat Meadows LLC, a partnership between RAL Development Services, KZ Capital and Latitude Investment Properties. Jordan Roeschlaud, Jonathan Firestone, Nick Scribani and Tim Polglase of Newmark Debt & Structured Finance arranged the financing with Builders Capital. Ryan Shattuck and Jon Wade of The Steamboat Group are marketing the property.
COSTA MESA, CALIF. — CBRE has negotiated the $8.6 million sale of a 13-unit property at 553 and 555 Victoria St. in Costa Mesa, about 40 miles south of Los Angeles. Dan Blackwell, Mike O’Neill and Jack O’Connor of CBRE represented the Costa Mesa-based private seller. The 1031 buyer is a private investor based in Huntington Beach, Calif. The property was on the market for the first time in approximately 47 years. Located on a 0.8-acre lot, the property contains 10 buildings with 13,712 square feet of rentable space. The unit mix includes eight two-bedroom cottages (built in 1962) and five three-bedroom townhomes (built in 1990), each with a private backyard.
NAPLES, FLA. — McDowell Housing Partners (MHP) has completed the construction of Ekos Cadenza, a 160-unit affordable seniors housing community in Naples. This marks MHP’s second phase of development at the site. The first phase, which also comprises 160 units of affordable housing for seniors, opened in October 2024. Totaling five stories, Ekos Cadenza features studio, one- and two-bedroom residences ranging from 527 to 1,007 square feet. Amenities include a swimming pool, wet bar, fitness center, game room, media center, pickleball court and clubhouse. The Healthcare Network of Southwest Florida will provide onsite healthcare services to residents, with Collier County administering a daily meal program. Nineteen apartments will be reserved for seniors earning at or below 30 percent of the area median income (AMI), and 119 units will be reserved for seniors earning at or below 60 percent of AMI. Monthly rents will range from $529 to $1,406.