Tuesday, June 30, 2026
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Multifamily

Journal-Square-Urby
DevelopmentMultifamilyNew JerseyNortheast

Urby Begins Leasing 317-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has begun leasing a 317-unit apartment building in Jersey City. Rising 265 feet and 25 stories, Journal Square Urby offers studio, one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center with a yoga studio, rooftop garden, outdoor grilling and dining areas, a lobby café and a dog park. Dutch architecture firm Concrete and New York City-based HLW designed the project. Rents start at approximately $3,300 per month for a studio apartment.

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Vermella-Broad-Street-Newark
DevelopmentMultifamilyNew JerseyNortheast

Russo Development Completes 296-Unit Apartment Community in Downtown Newark

by Taylor Williams

NEWARK, N.J. — Locally based firm Russo Development has completed Vermella Broad Street, a 296-unit apartment community located at 355 Broad St. in downtown Newark. The property consists of two five-story buildings that house studio, one- and two-bedroom units. Residences are furnished with stainless steel appliances and quartz countertops, and select units offer private balconies. Vermella Broad Street also features 40,000 square feet of indoor and outdoor amenity space. Rents start at roughly $2,000 per month for a studio apartment. Leasing began last November.

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Affordable HousingDevelopmentFloridaMultifamilySoutheast

Pinnacle, Wendover Housing Deliver 112-Unit Affordable Housing Community in Riviera Beach, Florida

by John Nelson

RIVIERA BEACH, FLA. — Pinnacle and Wendover Housing Partners have opened Berkeley Landing, an affordable housing community located at 3100 Broadway in Riviera Beach, about five miles north of West Palm Beach. Berkeley Landing features 110 income-restricted units and two market-rate units attached to live-work spaces on the ground level. The property features one-, two- and three-bedroom apartments with incomes restricted to households earning 30, 50, 60 and 80 percent of the area median income (AMI). Amenities include a clubhouse, pool and a cabana, fitness center, cyber lounge, covered pavilion, playground and an enclosed dog-walking area. Financing for Berkeley Landing includes funding from the Florida Housing Finance Corp.’s allocation of housing tax credits; a contribution from Riviera Beach Community Redevelopment Agency leveraged by a low-interest loan and impact fee relief from Palm Beach County; equity from The National Equity Fund and Bank of America; construction financing from Bank of America; and permanent financing from Neighborhood Lending Partners. Pinnacle and Wendover Housing Partners will host an official grand opening of Berkeley Landing on Friday, June 14.

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AcquisitionsFloridaMultifamilySoutheast

Atlas, Andover Sell 252-Unit Huntington Place Apartments in Sarasota, Florida

by John Nelson

SARASOTA, FLA. — Atlas Real Estate Partners and Andover Real Estate Partners have sold Huntington Place Apartments, a 252-unit multifamily community located at 3201 Huntington Place Drive in Sarasota. Bridge Investment Group purchased the property from Atlas and Andover, which have owned the community for 11 years, for an undisclosed price. The buyer assumed a Fannie Mae loan originated by Berkadia. Jason Stanton and Matt Mitchell of Berkadia represented the sellers in the transaction. Prior to the sale, Atlas and Andover completed a comprehensive overhaul of Huntington Place, including the renovation of nearly all units, upgrades to the clubhouse, exterior enhancements such as façade improvements and new roofs and the addition of modern amenities like a dog park, fitness center and outdoor lounge area. The property was 95 percent occupied at the time of sale.

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AcquisitionsMichiganMidwestMultifamily

ARCO Acquires Riverside Townhomes in Gibraltar, Michigan, for $17.1M

by Kristin Harlow

GIBRALTAR, MICH. — ARCO Real Estate Co. has acquired Riverside Townhomes in Gibraltar, a southern suburb of Detroit, for $17.1 million. The townhome rental property, located at 14221 Park St., features 136 units. Peter Jankowski and Rich Deptula of Friedman Real Estate represented both the buyer and undisclosed seller.

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2587-Telegraph-Ave-Berkeley-CA
AcquisitionsCaliforniaDevelopmentMultifamilyStudent HousingWestern

CBRE Brokers Sale of Development Site for 232-Bed Student Housing Project Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — CBRE has arranged the sale of a 0.43-acre development site at 2587 Telegraph Ave. in Berkeley, approximately five blocks south of the University of California, Berkeley campus. 2565-2589 Telegraph Black LLC, a local private investor and related party of Anchor Valley Partners, sold the asset for an undisclosed price. An undisclosed buyer plans to build a 52-unit, 232-bed student housing development on site. The project is approved and entitled for an eight-story, 112,562-square-foot, mixed-use building featuring studio, four-, five- and six-bedroom units, including six affordable housing units. Additionally, the finished project will include 2,902 square feet of ground-floor commercial space, 5,105-square-foot of outdoor space, a fitness room, an amenity room, study pods and bike parking. Keith Manson, Zachary Greenwood and Mac Watson of CBRE’s Oakland office represented the seller in the transaction.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $11.2M Sale of Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a 48-unit apartment building in Chicago’s Lakeview East neighborhood for $11.2 million. Located at 452 W. Oakdale Ave. and constructed in 1971, the property includes 16 studios and 32 one-bedroom units. All apartments were occupied at the time of sale. Joe Smazal of Interra represented the buyer, Beal Properties, and the seller, a local investment group led by Cagan Management.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges Sale of 48-Unit Townhome Rental Property in Burnsville, Minnesota

by Kristin Harlow

BURNSVILLE, MINN. — JLL Capital Markets has arranged the sale of Shalimar Estates, a 48-unit townhome rental community in Burnsville, about 15 miles south of downtown Minneapolis. Located at 13340 Parkwood Drive, the property features three-bedroom units within attached three-story buildings with garages on the ground level. Josh Talberg and Bill Mork of JLL represented the seller, Gaughan Cos. Shalimar Estates was part of Gaughan’s larger 800-unit Minnesota Legacy Apartment Portfolio.

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Fairwinds-Rio-Ranch-NM
LoansMultifamilyNew MexicoSeniors HousingWestern

JLL Arranges Refinancing for 220-Unit Seniors Housing Property in Rio Rancho, New Mexico

by Amy Works

RIO RANCHO, N.M. — JLL Capital Markets has arranged a refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, a suburb north of Albuquerque. JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company. The amount of the loan was not disclosed. Fairwinds Rio Rancho totals 211,213 square feet. It was built in 1997 and renovated in 2019. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer led the JLL team.

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The-Rise-Walnut-Creek-CA
AcquisitionsCaliforniaMultifamilyWestern

IPA Negotiates Sale of 97-Unit The Rise Walnut Creek Apartments in California

by Amy Works

WALNUT CREEK, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Rise Walnut Creek, a multifamily property in the East Bay city of Walnut Creek. Rescore sold the asset to Hines for an undisclosed price. Completed in 2023, The Rise Walnut Creek features 97 apartments with washers/dryers, white oak wide plank flooring, stainless steel appliances and large windows. Community amenities include a landscaped roof deck, fitness center, walk-in storage lockers and a subterranean parking garage with electric vehicle charging stations. The Rise Walnut Creek also features 8,000 square feet of retail space. Alex Tartaglia, Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA represented the seller and procured the buyer in the transaction.

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