CHICAGO — Kiser Group has negotiated the $17.4 million sale of 5411 N. Winthrop, a multifamily property in Chicago’s Edgewater neighborhood. The asset, which was 99 percent occupied at the time of sale, underwent a full renovation in 2013. Jacob Price and Katie LeGrand of Kiser brokered the sale. Chicago-based Becovic Residential was the buyer. The property went under contract within a month of listing.
ROCHESTER, MINN. — CBRE has arranged the $6.9 million sale of Lofts at Mayo Park, a 29-unit apartment building in Rochester. Built in 2017, the property features one- and two-bedroom floor plans averaging 942 square feet. Amenities include a fitness center, bike storage, pet washing station, heated underground parking and rooftop terraces. CBRE’s Ted Abramson, Abe Appert and Keith Collins represented the seller, Eastbank Lofts LLC. The buyer was Eaststar Trust LLC.
PHILADELPHIA — Urby, a joint venture between Ironstate Development and Brookfield Properties, has begun leasing a 204-unit apartment complex in Philadelphia’s Fishtown neighborhood. Known as Fishtown Urby, the five-story building is located at 1700 Front St. and houses studio, one- and two-bedroom units, as well as retail space that is occupied by multiple food-and-beverage users. Amenities include two courtyards, a rooftop terrace, outdoor grilling and dining stations, a dog park, speakeasy, fitness center and dedicated work-from-home areas. Rents start in the $1500s for a studio apartment.
FORT WORTH, TEXAS — Trademark Property Co. has topped out The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities will include a pool, rooftop lounge and coworking space. Construction began in February 2024 and is expected to be complete this spring.
NEW YORK CITY — Global pivate equity firm KKR has provided a $123 million loan for the refinancing of The Wimbledon, a 214-unit apartment complex located at 200 E. 82nd St. on Manhattan’s Upper East Side. The pet-friendly, elevator-served property offers one-, two- and three-bedroom units and includes 8,590 square feet of commercial space. The amenity package comprises a fitness center, outdoor theater, children’s playroom, package lockers and outdoor dining space. Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan on behalf of the sponsor, Rockpoint Group.
NEW YORK CITY — Eastern Union has arranged a $24 million loan for the refinancing of a 55-unit multifamily property located at 2508 Foster Ave. in Brooklyn’s Flatbush neighborhood. The seven-story, newly constructed building houses units with an average size of 692 square feet and two retail spaces. Motti Blau, Mendy Pfeifer and Dov Bakon of Eastern Union arranged the nonrecourse loan, which was structured with a 65 percent loan-to-value ratio, through Bank of Montreal on behalf of the undisclosed borrower.
Waterton Provides $69.2M Senior Construction Loan for Apartment Development in Vancouver, Washington
VANCOUVER, WASH. — Waterton, in partnership with Strathcona Capital, has provided a $69.2 million senior construction loan for the development of 12th & Main, a seven-story mid-rise apartment building in Vancouver. The borrower, Oregon-based Pahlisch Commercial, started construction in December 2024 on the project that is slated for completion in 2027. Totaling 198 units, 12th & Main will offer studio, one- and two-bedroom floor plans and an amenity package including a 24-hour fitness center, rooftop lounge with river views, dog wash station, game room, remote work offices, electric vehicle charging stations and a steam shower and sauna. Additionally, the property will include 21,359 square feet of ground-floor commercial space. Pahlisch Commercial will occupy roughly half of the ground-floor space as its headquarters office.
KALISPELL, MONT. — Gantry has secured a $10.5 million permanent loan to retire construction debt from the development of the second phase for The Landings on Two Mile, an apartment community in Kalispell. Located at 110, 112, 114 and 118 Teton St., the second phase features 72 one-, two- and three-bedroom floor plans. Demetri Koston of Gantry’s Spokane, Wash., office represented the borrower, a private real estate investor, in the financing. The 12-year, fixed-rate loan was secured from an agency lender with an upfront interest-only period transitioning to 30-year amortization. In 2021, Gantry provided a $16.4 million permanent loan for the property’s 108-unit first phase.
PEARLAND, TEXAS — Northmarq has provided a $43.4 million Freddie Mac loan for the refinancing of Avenues at Shadow Creek Ranch, an apartment complex located in the southern Houston suburb of Pearland. According to Apartments.com, the property was built in 2013 and totals 300 units. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, fitness center, outdoor grilling and dining stations, game room and a car care center. Greg Duvall led the Northmarq team that originated the seven-year, fixed-rate loan. The borrower was not disclosed.
WESTWOOD AND RIVER VALE, N.J. — JLL has brokered the $80 million sale of a portfolio of four multifamily properties totaling 276 units in Northern New Jersey. The properties are collectively known as the Westwood Multihousing Portfolio by virtue of three assets — Coventry Square, Stanford Court and The Madison Apartments — being located in Westwood. The fourth property, Village on the Green, is located in the adjacent town of River Vale. All properties were built between 1979 and 1987 and offer one- and two-bedroom units and amenities such as pools, fitness centers and dog parks. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, Kushner Cos., in the transaction. The buyer was not disclosed. The portfolio had an occupancy rate of 96 percent at the time of sale.