Multifamilybiz-com Press Releases

MIAMI, FL - The Julia Residences, a $100 million, 14-story residential tower developed by Neology Life Development Group, is thrilled to announce the receipt of a Temporary Certificate of Occupancy (TCO) for its 323 upscale one- and two-bedroom apartments in Miami's Allapattah neighborhood. Residents of The Julia will enjoy an array of amenities, including its signature ninth-floor "Sunset Sky Lounge" with a resort-style pool deck, shaded gardens, cabanas, an indoor/outdoor club lounge, a wellness center, and a starlight dining terrace. The property also features private co-working areas, a dog spa, a children's play area, high-speed fiber optics, and 13,000 square feet of street-level retail space. "We are excited to announce The Julia Residences has received TCO," said Lissette […]

SCOTTSDALE, AZ - Multifamily Leadership proudly welcomes Jim Rostel, Chief Operating Officer of Anchor NW Property Group, to the Multifamily Innovation® Advisory Council. The Council, made up of industry experts and leaders, is a space for sharing valuable insights and helping shape the future of the multifamily industry. At Anchor NW Property Group, Rostel oversees 32 multifamily properties, totaling approximately 2,100 units, all managed centrally from a singular headquarters without on-site management or maintenance. This groundbreaking operational framework, centralized and devoid of on-site management, presents a pioneering model currently underserved by existing software solutions. Rostel s unique insights stemming from this innovative setup promise invaluable perspectives for the […]

PHOENIX, AZ - After a year of internal planning, reorganizing and integrating, MEB Management Services, a Phoenix-based multifamily management company servicing the Southwest, and Weller Management, a third-party property management and consulting company based in St Petersburg, Fla. serving the Southeast, officially merged to become Bryten Real Estate Partners creating a nationally recognized management company. Prior to the merger, MEB Management Services employed 700 staff members and managed over 27,000 units throughout Southwest. Of that total, more than 4,200 units are new developments that will open by mid-2024. There are an additional 5,000 plus new development units under contract for mid-2024 and into 2025. Weller employed 450 staff members and managed close to 20,000 units. […]

HOUSTON, TX - In response to the evolving housing needs in Houston, Civitas Capital Group and The Shelter Companies proudly announce the launch of UNITi Montrose, an innovative residential community in one of Houston s most coveted neighborhoods. Offering attainable rental housing, UNITi Montrose features a revolutionary mix of co-living spaces, micro-units and traditional apartments, pioneering a new way of living in the city's urban center. "We are thrilled to introduce UNITi Montrose to the Houston community," said Mark Drumm, Managing Partner and Co-Founder of The Shelter Companies. "This development represents a new era in urban living, where convenience, community and value converge. Our all-inclusive approach to amenities and utilities creates an attainable and adaptive living […]

HUNTINGTON BEACH, CA - Liberty Military Housing (Liberty), acknowledged for its quality homes and vibrant neighborhoods, is excited to announce Beth Peterson as the new Regional Vice President of the Army West Region. In her role as Regional Vice President, Beth will oversee the financial management and operational activities of 5,159 homes within 22 communities at Joint Base Lewis-McChord for Liberty. Philip J. Rizzo, CEO of Liberty Military Housing, expressed his enthusiasm, Beth brings a wealth of experience and a proven commitment to professional growth, highlighting her dedication to fostering an environment where our team can thrive. Her vast expertise and leadership qualities are invaluable, and we are thrilled to have her join the Liberty team. Beth comes to Liberty with a solid […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced that Alex Chang has joined the firm as a Senior Managing Director. In his new role, Mr. Chang will focus on a number of initiatives, including the firm s bridge lending capabilities through Greystone Monticello as well as expanding the firm s bank and alternative capital relationships. Primarily based in New York, Mr. Chang reports to Debby Jenkins, co-President of Greystone s lending business platforms. Bringing over 20 years of commercial real estate experience spanning Agency, CMBS, mezzanine, bridge, and loan securitization executions, Mr. Chang was most recently focused on bridge-to-Agency opportunities at PGIM Real Estate. Prior to that role, he spent over 13 years at Freddie Mac […]

RENO, NV - Berkadia announced today that it has arranged $11.53 million in joint venture equity for Five Ridges, a to-be-built 83-unit townhome-style development in Reno, Nevada. Cody Kirkpatrick, Chinmay Bhatt, and Noam Franklin of Berkadia JV Equity & Structured Capital and Jared Glover, Senior Director of Investment Sales at Berkadia Nevada represented the sponsor, Leggera Development, to arrange the joint venture equity. Berkadia arranged the equity through a global investment manager. The bar is high for investment into ground-up development for institutional equity in today s macroeconomic environment, said Kirkpatrick. However, for well-located opportunities alongside proven development teams that deliver high-quality product, institutional interest remains. Five Ridges […]

CHICAGO, IL - Chicago-based Habitat, a leading U.S. multifamily developer and property manager, today announced it has received $4.5 million in low-income housing tax credits (LIHTC) from the city of Chicago for major renovations to Riverside Village, located at 13215 S. Indiana Ave., a fully affordable housing community with 258 units across 39 buildings in the city s Riverdale neighborhood. The awarded tax credits will help Habitat refinance the existing debt on the property and fund on-site rehabilitation work, including new, green plumbing and HVAC systems; upgraded unit interiors; improved accessibility in common areas; and exterior improvements to the on-site playground and basketball court. No residents will be displaced during the renovation, which is scheduled to begin in 2025 […]

SAN FRANCISCO, CA - Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $40.5 million permanent loan to retire construction financing for the recently completed and now stabilized class-A apartment project. The 264-unit complex boasts a variety of floorplans, including 1-, 2-, and 3-bedroom options, spread across 23 buildings nestled on approximately 17 acres of land. The property also includes a clubhouse offering a pool, therapeutic hot tub, sauna, 24/7 fitness center, and theater room as well as a sports court, playground, and off-leash dog park. Gantry s Blake Hering, Principal, and Crischell Bacarro, Associate, with Gantry s Portland and Los Angeles production offices, respectively, represented the borrower, a private real estate investor. The […]

MINNEAPOLIS, MN - The Minneapolis office of Colliers Mortgage closed a $20.9 million HUD loan for the construction of The American Cooperative on Lake Phalen in Maplewood, Minnesota. The 56-unit market-rate cooperative is designed for members 62+ and is located on the north shore of Lake Phalen between Keller and Phalen Regional Parks and golf courses. Home plans range from two-bedroom/two-bath (1,200 SF) to two-bedroom plus den/two-bath (1,900 SF). Property amenities include a 24-hour fitness center, roof top deck with lake view, shared garden space, underground heated parking, club room and storage units. Unit amenities include balconies/patios, stainless-steel appliances, 9-foot ceilings and in-unit washer/dryer. The loan carries a 40-year term/amortization and was arranged for […]

HOLLYWOOD, FL - Stantec, a global leader in sustainable design and engineering, has been selected to provide interior design services for the Bread Building Project—a mixed-use residential building on Young Circle in downtown Hollywood, Florida. Developed by Fort Lauderdale-based BTI Partners, the project is part of the revitalization program for the neighborhood that will include retail, restaurants, office space, and additional residential living. Situated on the former site of the historic Bread Building manufacturing plant, the 362-unit development will overlook ArtsPark and feature an amenity deck to provide panoramic views of the city. The Bread Building s interiors will combine modern influences and timeless materials to authentically reflect the original industrial buildings […]

NEW YORK, NY - Dwight Capital and its affiliate REIT, Dwight Mortgage Trust ( DMT ), closed $270MM in real estate financings in March. Featured among the transactions are three lease-up bridge loans for The Shoreline, Solis at Petrosa, and The Marlette. DMT provided $108MM in bridge financing for The Shoreline, a 248-unit luxury high-rise apartment building featuring 28,610 square feet of commercial space located in Brooklyn, NY. The mixed-use property is situated along Gravesend Bay, offering residents and visitors expansive water views. The single building spans 31 stories boasting amenities spread across 25,000 square feet. These include a pool, fitness center, game room, and sunset lounge showcasing a wraparound sky deck offering an unobstructed 360-degree panorama. The Shoreline will […]

WALNUT CREEK, CA - CBRE arranged the sale of California Villas, a 35-unit multifamily community in Concord, Calif. A private buyer purchased from a local private investor for $9.15 million. CBRE s Keith Manson, Zachary Greenwood and Mac Watson represented the seller. Multifamily properties of this size rarely become available in the I-680/CA-24 corridor. For the last two years, only seven multifamily communities built before 2000, with 30-100 units, have traded in the I-680/CA-24 corridor and we ve been fortunate to have sold four of those, said Mr. Manson, senior vice president at CBRE. The property s recent upgrades, proximity to major highways and retail amenities were a huge value-add as more buyers seek stable opportunities in today s economic environment. Located at 1621 Detroit […]

CHICAGO, IL - Lendlease, a global real estate and investment group, announced today it has been recognized as a 2024 Platinum Green Lease Leader for its portfolio of more than 40,000 privatized military homes. The highest level of recognition awarded by the Institute for Market Transformation (IMT) and the U.S. Department of Energy s (DOE) Better Buildings Initiative, this is the first-ever Platinum Green Lease Leader award given to a military community. Lendlease earned this recognition by demonstrating effective implementation of energy efficiency- and sustainability-related best practices across its privatized military housing portfolio. These include tracking and sharing utility data, cost recovery for capital improvements and sustainability training for staff. The Better Buildings […]

CORAL GABLES, CA - Winmar Construction, an award-winning general contractor, has commenced the foundation pour for Coral Gables most highly anticipated and fashionable new address, The Avenue Hotel & Residences Coral Gables, today announced developer, Oscar Roger, Sr., President & CEO of Roger Development Group. "Our foundation pour marks a significant milestone for The Avenue team, and we are filled with pride and excitement as our vision for Coral Gables first hotel and residences begins to take shape," said Oscar Roger, Sr. President & CEO of Roger Development Group. The Avenue embodies the vibrant and dashing lifestyle of the Coral Gables Merrick Park area, where you can literally have it all! You can live, stay for a few days, play, and work with ease in the heart of […]

HOUSTON, TX - The Dinerstein Companies (TDC), a full-service real estate and development company, today announced strategic enhancements to its leadership team, positioning the company for accelerated growth and expansion. Effective immediately, Clay Hicks assumes the role of Chief Administrative Officer, bringing a wealth of expertise and vision to the executive suite. In his role, Hicks will spearhead efforts to streamline operations and ensure alignment across TDC's five company divisions. With a focus on optimizing performance and pursuing strategic initiatives, Hicks will work closely with key stakeholders to ensure a cohesive approach to achieving organizational objectives. "Taking on the role of Chief Administrative Officer presents an incredible opportunity to drive operational […]

MIAMI, FL - The Allen Morris Company, and its partner, the Alaska Permanent Fund Corporation, advised by L&B Realty Advisors, has closed on an $83 million construction loan and commenced construction on its signature Bayside Sarasota development. The loan was provided by Kennedy Wilson. Longboat Group will oversee leasing and management once complete. Located in Sarasota, Florida, one of the State s fastest growing areas, Bayside Sarasota is the initial phase of a broader mixed-use project in the Rosemary District, one block off of Sarasota Bay. This phase includes a 253-unit luxury rental community, along with 2,000 square feet of ground floor retail, and a future 96-unit tower with bay views that will commence later in the year. The Allen Morris Company commenced construction on […]

KIRKLAND, WA - Weidner Apartment Homes, a real estate investment and property management company headquartered in Kirkland, WA, earned national recognition this week by making the National Multifamily Housing Council s (NMHC) 2024 50 Largest Apartment Owners List. All listed apartment owners are ranked based on their portfolio holdings in the U.S. as of January 1, 2024. Weidner is the 12th largest apartment owner in the country, with 62,018 units owned and managed by the organization. Weidner s international portfolio is 68,462 units, including its 6,444 units in Canada. This exciting milestone serves as a humble reminder of how far our company has come in its 47 years and a strong motivator for our future goals. Said Kevin Colard, Weidner s Chief Investment Officer. We take pride in […]

MIAMI, FL - Cushman & Wakefield announced the commercial real estate services firm has arranged $70 million in construction financing for Domus Brickell Park, a 12-story, 172-unit residential condominium located at 1611 SW 2nd Avenue in Miami s Brickell neighborhood. The building will follow a flexible apartments for temporary stays (FLATS) model and allow unrestricted short-term renting. Robert Kaplan and Mark Rutherford of Cushman & Wakefield secured the financing through Forman Capital and Core Capital on behalf of the developer North Development, a joint venture between Miami-based Oak Development, led by veteran developer Ricardo Dunin, and Peru-based Edifica. The project is more than 50% pre-sold. Ricardo was a pioneer in the short term stay condo space decades ago and […]

PALM BEACH, FL - Forman Capital, a private direct real estate lender based in Palm Beach County, Florida, provided a $54.56 million construction loan to the developer of a condominium-hotel project in Miami s Brickell Financial District. The 12-story, 172-unit Domus FLATS (Flexible Apartments for Temporary Stays) at Brickell Park will bring a new condo-hotel brand to the market and fill a void for flexible ownership product. Located at 1611 SW Second Ave., Domus FLATS is being developed by North Development, a joint venture that includes Ricardo Dunin s Oak Capital and Edifica, one of the largest developers and builders in Peru. More than 50% of the project s residential units were presold in advance of its groundbreaking. Domus FLATS also includes a commercial suite on the ground floor […]