TACOMA, WASH. — First Citizens Bank, through its healthcare finance business, has provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma. The borrower is a joint venture led by Harrison Street. The same joint venture with PMB LLC served as the facility’s original developer, with GenCare Lifestyle, another joint venture partner, as the facility operator. The amount of the financing was not disclosed.
AMES, IOWA— A joint venture between ARTISAN Capital Group and EOS Residential Investors has acquired Union on Lincoln Way, a 537-bed student housing community located near the Iowa State University campus in Ames. Built in 2018, the property offers 177 fully furnished units in studio through five-bedroom configurations. Shared amenities include a swimming pool, fitness center, business center and study rooms. The development also features 11,000 square feet of retail space. Haverkamp Properties has been tapped to manage the community, which will be rebranded 2700 Lincoln. Improvements to the property’s amenity and common spaces are planned by the new ownership. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Greystar. The acquisition involved Freddie Mac financing.
COLUMBIA, S.C. — Landmark Properties has acquired a 67-acre development site located near the University of South Carolina campus in Columbia. Landmark plans to construct an 826-bed cottage-style student housing community at the site. The community will offer fully furnished units in two- through six-bedroom floor plans. Landmark will begin construction imminently and plans to deliver the project in August 2026. Units will be wired for high-speed internet and will feature hardwood-style laminate floors, quartz countertops, stainless-steel appliances and full-sized washers and dryers. Community amenities will include an outdoor pool complex with a sun deck, cabanas, hammocks, a Jumbotron and outdoor grilling stations; a sand volleyball court; sports simulator; fire pits; a 24-hour fitness center; study spaces; and a computer lab. Residents will also have access to a complimentary shuttle service for commuting to and from the University of South Carolina campus and downtown Columbia. Landmark Cottage Construction, the company’s in-house general contractor, will manage construction of the project. The development site is situated at 1050 Idlewild Blvd., less than a mile from the university’s Williams-Brice football stadium. The site is located adjacent to a parcel earmarked for the University of South Carolina’s stadium project, a $1 billion modernization initiative …
NEW BRAUNFELS, TEXAS — Viking Capital, an investment firm based in Northern Virginia, has acquired Villas at Sundance, a 252-unit apartment community located northeast of San Antonio in New Braunfels. Built in 2012, Villas at Sundance features one- and two-bedroom units with an average size of 931 square feet. Amenities include a pool, fitness center, business center, grilling stations, a lounge and a pet play area. Affiliates of Maryland-based Railfield Partners sold the property for an undisclosed price. Will Balthrope and Drew Garza of Institutional Property Advisors, along with Ben Kalter of parent company Marcus & Millichap, brokered the deal.
WYLIE, TEXAS — Marcus & Millichap has brokered the sale of Lakeside Village, a 76-unit apartment complex in Wylie, a northeastern suburb of Dallas. The property was built on 2.1 acres in 1981 and offers one- and two-bedroom units. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.
OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 52-unit seniors housing property in Oklahoma City. The unnamed property, which opened in 2000 and was 99 percent occupied at the time of sale, offers assisted living and memory care services. The seller was a national developer and investor, and the buyer was a regional owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.
NEW YORK CITY — Locally based investment firm Circle F Capital has received a $50 million construction loan for 1 Park Row, a multifamily project located at the nexus of Manhattan’s Tribeca and Financial District neighborhoods. The sponsor will use the proceeds to complete the project, which consists of 62 residential units and 8,000 square feet of retail and restaurant space within a 24-story building. Residences will have an average size of 1,028 square feet. Miami-based balance sheet lender 3650 REIT provided the financing.
WORCESTER, MASS. — The United Group of Cos. Inc. has broken ground on The Arbella at Bramble Hill, a 123-unit active adult project that will be located in the central Massachusetts community of Worcester. The property will span 17 acres and offer one- and two-bedroom apartments across three buildings. The community will also feature an 8,500-square-foot clubhouse. JLL arranged a $35 million construction loan through The Washington Trust Co. for the project, which is scheduled for a spring 2025 completion.
STILLWATER, MINN. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Amenities include a game room, library and private garden patio. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, Standard Communities. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of JLL arranged acquisition financing through Freddie Mac.
CHARLOTTE, N.C. — McShane Construction Co. has completed The Kendry, a 300-unit apartment community situated on 28 acres in Charlotte, on behalf of developer RangeWater Real Estate. Poole & Poole Architecture designed the development, which features 10,000 square feet of amenity space. Amenities at the property, which is positioned near the University of North Carolina at Charlotte campus, include a swimming pool, two courtyards with firepits, a dog park, fitness center, craft and game room, and workspace.