Tuesday, May 13, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Multifamily

Bay-151-Bayonne-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

KRE Group Begins Leasing 212-Unit Multifamily Project in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — Locally based developer KRE Group has begun leasing the third and final phase of Bay 151, a 212-unit multifamily project in the Northern New Jersey community of Bayonne. Designed by Minno & Wasko Architects & Planners, Bay 151 now consists of 625 units in studio, one-, two- and three-bedroom formats, as well as 10,000 square feet of retail space. Amenities include a pool, fitness center, dog park, bocce ball court, outdoor grilling and dining areas, business center, media room and a children’s play area. Rents start at $2,170 per month for a studio apartment. Construction of the 213-unit Phase II began in October 2020.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Arranges $20M Sale of Northern New Jersey Apartment Complex

by Taylor Williams

POMPTON LAKES, N.J. — Hudson Atlantic Realty has arranged the $20 million sale of Lakeside Residences, a 52-unit apartment complex located in the Northern New Jersey community of Pompton Lakes. Built in 2022, the property offers one- and two-bedroom units and amenities such as a fitness center, business center, game room and a resident lounge. Adam Zweibel of Hudson Atlantic represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingMississippiSeniors HousingSoutheast

Hunt Capital Transfers Ownership of 76-Unit Affordable Seniors Housing Community in Biloxi, Mississippi

by John Nelson

BILOXI, MISS. — Hunt Capital Partners has transferred ownership of Cadet Point Senior Village, an affordable seniors housing community in Biloxi, back to Biloxi Community Development Corp., the nonprofit arm of the Biloxi Housing Authority. Developed in 2007, the property comprises 76 units. Hunt Capital transferred ownership back to the civic organization in late November following negotiations accounting for the operational expense challenges at the property. According to Hunt Capital, Cadet Point has experienced insurance premium increases totaling more than 65 percent over the past five years due to its exposure to hurricanes. Biloxi Community Development will have full control of development and operational decisions at Cadet Point.

Continue Reading
FacebookTwitterLinkedinEmail
Lirica-East-Austin
LoansMultifamilyTexas

JLL Arranges Construction Financing for 338-Unit Multifamily Project in East Austin

by Taylor Williams

AUSTIN, TEXAS — JLL has arranged an undisclosed amount of construction financing for Lirica East Austin, a 338-unit multifamily project that will be located about three miles east of the downtown area. Lirica East Austin will feature studio, one-, two- and three-bedroom units with an average size of 799 square feet and amenities such as a pool, clubroom, fitness center, a leasing office, coworking space and a sky lounge. Doug Opalka, C.W. Sheehan, Scott Dickey and Samantha Jay of JLL arranged the loan on behalf of the borrower, a partnership between CSW Development and Blueprint Local. The direct lender was not disclosed. Completion is slated for early 2026.

Continue Reading
FacebookTwitterLinkedinEmail
7872-Liberty-Dr-Huntington-Beach-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Arranges $2.4M Sale of Multifamily Property in Huntington Beach, California

by Amy Works

HUNTINGTON BEACH, CALIF. — CBRE has arranged the purchase of a multifamily property in Huntington Beach. A San Diego-based 1031 exchange buyer acquired the asset from a Huntington Beach-based private investor for $2.4 million, or $479,000 per unit. Located at 7872 Liberty Drive, the two-story, 3,604-square-foot building features five apartments in a mix of one-, two- and three-bedroom layouts. All units feature spacious floorplans with patios or balconies. The property also offers garage parking and a laundry facility. Recent improvements include full renovations to two units, a new central water heater, updated windows, garage doors, exterior paint and landscaping. Dan Blackwell and Amanda Fielder of CBRE represented the buyer in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingDevelopmentHospitalityMultifamilyNew YorkNortheast

Slate, RiseBoro Buy 350-Room Hotel Near JFK Airport, Plan Affordable Housing Conversion

by Taylor Williams

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has purchased the 350-room JFK Hilton Hotel in Queens with plans to convert the property into a 318-unit affordable housing complex. The partnership purchased the hotel, which was originally built in 1987 and is located about half a mile from JFK International Airport, for $64 million. The new complex will be known as Baisley Pond Park Residences and will house studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Monthly rents will range from $784 for a studio to $1,493 for a two-bedroom apartment. As part of the conversion, the development team will replace all major building and mechanical systems, including new all-electric heating and cooling systems to reduce emissions. Aufgang Architects is designing the project, which has a total price tag of about $167 million and is expected to take about 21 months to complete.

Continue Reading
FacebookTwitterLinkedinEmail
90-Ave.-E-Bayonne-New-Jersey
AcquisitionsDevelopmentMultifamilyNew JerseyNortheast

CBRE Brokers $6.1M Sale of Multifamily Project in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — CBRE has brokered the $6.1 million sale of a multifamily project that is roughly midway through construction in the Northern New Jersey community of Bayonne. The site at 90 Ave. E will eventually house a 70-unit building. Fahri Ozturk, Richard Gatto and Zach McHale of CBRE represented the seller and developer, Brooklyn-based EOM Realty Group, in the transaction. Hudson Realty represented the buyer, an undisclosed, locally based developer.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMidwestMinnesotaMultifamily

JLL Arranges $60.1M in Construction Financing for Minnesota Multifamily Property

by Kristin Harlow

INVER GROVE HEIGHTS, MINN. — JLL Capital Markets has arranged mezzanine and construction financing totaling $60.1 million for Avalon Apartments and Townhomes in Inver Grove Heights, a southeast suburb of Minneapolis. The apartment and townhome project is set to break ground immediately and will include 244 luxury units as well as 193 parking spaces. Units will come in studios through three-bedroom floor plans. Amenities will include a pool, barbecue area, pickleball court, playground, yoga room, community room, speakeasy lounge, fitness center, golf simulator, business center, rooftop patio and dog run. Dan Linnell, Scott Loving, Josh Talberg and Mox Gunderson of JLL arranged a $45 million construction loan through Alerus, a provider of business and consumer banking products based in North Dakota. JLL also sourced $15.1 million in mezzanine financing from Centerspace, a real estate investment trust focused on apartment communities throughout the Midwest and Mountain West.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $2.6M Sale of Apartment Building on Chicago’s South Side

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $2.6 million sale of a 31-unit apartment building in Chicago’s South Shore neighborhood. Located at 6949-6959 S. Merrill Ave., the courtyard property includes a mix of studio to three-bedroom units, some of which have been updated with new kitchens and baths. Two units were reconfigured to include an additional bedroom, which generated additional rent of $300 per month. Max Grossman of Interra represented the local confidential buyer. Joe Smazal and Lucas Fryman of Interra represented the seller, a private investor based on the East Coast. The asset was roughly 90 percent occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMassachusettsMixed-UseMultifamilyNortheastRestaurantRetailTop Stories

Madison Realty Capital Provides $177.5M Loan to Refinance SCAPE Boylston Apartments in Boston

by Jeff Shaw

BOSTON — Madison Realty Capital has provided a $177.5 million loan to Scape, a London-based multifamily developer that opened its U.S. headquarters in Boston in 2018. The loan will refinance the $165 million construction loan for SCAPE Boylston, a 415-unit apartment development that opened earlier this month in Boston’s Fenway neighborhood. The 226,700-square-foot property offers a mix of furnished studios, one- and two-bedroom apartments with Class A retail space on the ground floor. The apartments are already 95 percent occupied, and the retail space is 80 percent leased. Retail tenants include a global bank; Immersive Gamebox; Carbon Health; Dave’s Hot Chicken; Halal Guys; and a 10,000-square-foot, 156-seat, LGBTQ-focused black box theater. Tenant amenities include a landscaped terrace, fitness center, yoga room, co-working space, lounge library and study. The site is located near prominent academic and medical institutions including Boston University and Northeastern University, as well as Fenway’s rapidly growing biotech and life sciences industries. The lights of Fenway Park, home of Major League Baseball’s Boston Red Sox, are visible from the community, which is a block away from a Red Line MBTA train station. “Fenway is a premier academic and employment hub within Boston with substantial demand for efficiently designed, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts