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Affordable HousingDistrict of ColumbiaFeaturesHeartland Feature ArchiveMultifamilyMultifamily & Affordable Housing Feature ArchiveNortheast Feature ArchiveSoutheastSoutheast Feature ArchiveTexas & Oklahoma Feature ArchiveWestern Feature Archive

Why Fannie Mae, Freddie Mac Believe the Wind Is at Their Back

by John Nelson

Fannie Mae and Freddie Mac are adopting a more pro-business approach when it comes to closing multifamily loans in 2025 than in recent years, when sources say they were more selective. The two government-sponsored enterprises (GSEs) combined to produce 33 percent more multifamily loans in first-quarter 2025 compared with first-quarter 2024. “There is definitely a ‘volume on’ mindset at both shops,” says Landon Litty, director of agency sales at BWE. “This is a real positive for borrowers.” For Fannie Mae, the volume of multifamily loans totaled $11.8 billion in the first quarter of 2025, compared with $10.1 billion in the first quarter of 2024. Meanwhile, Freddie Mac produced approximately $15 billion in multifamily loans in the first quarter, financing around 144,000 rental units, well above the approximately $10 billion produced in first-quarter 2024.  “The first quarter of 2025 has been dynamic, with real-time adjustments to meet market needs while maintaining a focus on soundness,” says a spokesperson at Freddie Mac Multifamily.  Other sources attest that the GSEs are focusing on their sponsors more so than in previous years. T.J. Edwards, chief production officer for the multifamily finance division at Walker & Dunlop, says the agencies are proactively vetting first-time borrowers …

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UCF-Palladium
DevelopmentFloridaSoutheastStudent Housing

ACC to Break Ground on 898-Bed Student Housing Development Near University of Central Florida

by Abby Cox

ORLANDO, FLA. — American Campus Communities (ACC) is set to break ground on an 898-bed student housing development located near the University of Central Florida (UCF) campus in Orlando. The development site is located adjacent to ACC’s existing Plaza on University community. Scheduled for completion in 2027, the development will offer studio, four- and five-bedroom floorplans. Amenities at the property — which is pursuing Fitwel certification — will include recreational and study spaces, a resort-style swimming pool and spa, outdoor kitchens, fire pits, lounge areas and modern fitness and wellness facilities. Niles Bolton Associates designed the project, while Clancy & Theys Construction will serve as the general contractor.

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reva-fort-meyers
FloridaLeasing ActivityMultifamilySoutheast

Global City, Gilu Welcome First Residents to 255-Unit Luxury Apartment Community in Fort Myers, Florida

by Abby Cox

FORT MEYERS, FLA. — Global City Development and Gilu Development have begun welcoming residents to Reva, a 255-unit luxury apartment community located in Fort Meyers. Situated on Crystal Drive and Six Mile Cypress Parkway, the complex features a mix of one-, two- and three-bedroom floorplans ranging in size from 786 square feet to 1,690 square feet. Reva also offers three-bedroom villas with two-car garages and a private driveway. Rental rates begin at $1,700 for a one-bedroom unit. The community is anchored by a two-story, 6,200-square-foot clubhouse overlooking a private lake, with additional amenities including a swimming pool, fitness center with open-air workout spaces, meditation area, coworking areas with Zoom studios, event room, package lockers, onsite management and a convenience store located inside the clubhouse. Additionally, the community is offering a $1,000 bonus to “hometown heroes,” such as medical professionals, policemen and firefighters.

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Hampton-InnHome2
HospitalityLoansSoutheastTennessee

HKS Real Estate Arranges $25M Construction Financing for Dual-Branded Hotel in Antioch, Tennessee

by Abby Cox

ANTIOCH, TENN. — HKS Real Estate Advisors has arranged $25 million in financing for the development of a dual-branded hotel located within the master-planned community of Century Farms in Antioch, approximately 12 miles southeast of downtown Nashville. The building will offer 189 rooms under the Hampton Inn brand and the Home2 Suites by Hilton brand. Mountain Commerce Bank provided $15.6 million in senior debt notes, while Nuveen provided $9.9 million in C-PACE financing for the borrower, Nish Jobalia and Nick Patel of Milap Hotels LLC.

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AcquisitionsGeorgiaIndustrialSoutheast

Triten Real Estate Acquires 151,200 SF Industrial Facility in Calhoun, Georgia

by Abby Cox

CALHOUN, GA. — Triten Real Estate Partners has acquired a 151,200-square-foot industrial facility located at 103 Enterprise Drive SW in Calhoun. Positioned near I-75, the property offers transportation infrastructure, with proximity to the Georgia Ports Authority’s Appalachian Regional Port. This deal marks Triten’s first traditional industrial acquisition outside of Texas and in Atlanta, according to company representatives. The facility is fully leased through the end of the year. Austin Kriz of JLL represented Triten Real Estate in the transaction. The seller and sales price were not disclosed.

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south-creek-collection
AcquisitionsMississippiRetailSoutheast

Cushman & Wakefield Commercial Advisors Negotiates Sale of 26,612 SF Retail Center Near Memphis

by Abby Cox

SOUTHAVEN, MISS. — Cushman & Wakefield has negotiated the sale of South Creek Collection, a 26,612-square-foot retail center located in the Memphis suburb of Southaven, roughly 14 miles south of the Tennessee border. Situated at 7090 Malco Blvd., the center was built in 1999 and sits on nearly 20 acres. Tenants at the property include Once Upon A Child, Edible Arrangements, Envy Nails and Baskin-Robbins. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the buyer, an entity doing business as KAG3 Southaven Real Estate LLC, in the transaction. Eric Williams of Newmark represented the seller, a company doing business as South Creek Collection LLC.

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Market ReportsMultifamilyNorth CarolinaSoutheastSoutheast Market Reports

As New Supply Levels Off, Charlotte’s Multifamily Market Regains Momentum

by John Nelson

Charlotte’s multifamily market is turning a corner after a once-in-a-generation supply wave that introduced 19,000 new apartments into the metro area in 2024. While rent growth will be muted for most of the year as the market continues to absorb the new supply, the dynamic will shift toward the end of 2025, putting landlords back in the driver’s seat.  Record-low new apartment starts this year, combined with steady population growth and an economic climate that favors renting over owning will boost leasing activity in the second half of the year — and may even produce rent growth for the first time since 2022. Fundamentals in play Like many other Sun Belt cities, Charlotte has been on a joyride of growth stemming from in-migration since the COVID-19 pandemic. The city’s population expanded 2.2 percent between 2023 and 2024, making it one of the fastest-growing markets in the Southeast. Another 56,000 new residents are expected to move in by the end of the year, according to research from Berkadia. The long-term forecast for population growth is even rosier: the Charlotte Regional Business Alliance forecasts the metro population will surge by 50 percent over the next 25 years, driving demand for housing. Tariff …

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MXWL
DevelopmentKentuckySoutheastStudent Housing

Gilbane Breaks Ground on 655-Bed Student Housing Development Near University of Kentucky

by Abby Cox

LEXINGTON, KY. — Gilbane Development has broken ground on MXWL, a 655-bed student housing development near the University of Kentucky campus. Located at 201 E. Maxwell St. in Lexington, the property will offer 277 fully furnished units with bed-to-bath parity. Amenities will include a rooftop deck, game-day courtyards, fire pits, grilling stations, outdoor lounges, coworking spaces and a fitness center with a sauna. The property will also offer a 140-space underground parking garage, as well as covered bike storage. Construction began in June, while completion is scheduled for fall 2027. Humphreys & Partners Architects designed MXWL.

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Valen
Leasing ActivityMultifamilySoutheastVirginia

JBG Smith Launches Leasing at 355-Unit Valen Multifamily Community in Arlington, Virginia

by Abby Cox

ARLINGTON, VA. — JBG Smith has launched leasing at Valen, a 355-unit multifamily community located at 2050 S. Bell St. within the National Landing neighborhood of Arlington. New York City-based KPF designed the project. The 25-story tower offers studio, one-, two- and three-bedroom floorplans ranging in size from 524 square feet to 1,279 square feet, as well as 15,000 square feet of ground floor retail space. Monthly rental rates at Valen range from $2,250 to $5,820, according to Apartments.com. Amenities at the property include a rooftop swimming pool and lounge, fitness center, 24-hour concierge services, coworking facilities, community gathering spaces and a pet spa with a grooming station. Residents also have access to garage bike storage and electric vehicle charging stations. JBG Smith plans to achieve LEED Gold certification at Valen. Valen’s adjacent sister property, The Zoe, opened for leasing in December 2024 and includes 420 rental apartments.

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townley-court
Affordable HousingDistrict of ColumbiaLoansSoutheast

CPC Arranges $26.7M in Construction Financing for Affordable Housing Rehabilitation Project in D.C.

by Abby Cox

WASHINGTON, D.C. — The Community Preservation Corp. (CPC) has arranged $26.7 million in construction financing for the rehabilitation and expansion of Townley Court, a 45-unit affordable housing community located in the Glover Park neighborhood of Washington, D.C. DC Green Bank and J.P. Morgan provided $15.7 million in combined financing for the project, while additional financing included $5.2 million from Amazon and $5.8 million from American Housing. Additionally, CPC Mortgage Co. originated a $15.7 million Freddie Mac loan under a Targeted Affordable Housing (TAH) forward commitment. The financing will fund renovations to the apartment’s 45 existing units, with plans to build an additional seven units, as well as solar panels, electric vehicle charging stations and energy-efficient building upgrades. The eco-friendly improvements are estimated to cut both the building’s utility costs and greenhouse gas emissions by nearly 10 percent, while also meeting the Enterprise Green Communities certification upon completion of the renovation. Completion is targeted for September 2026.

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