Multifamilybiz-com Press Releases

SAN FRANCISCO, CA - CBRE arranged the $5.6 million sale of Pacifica Apartments in San Rafael, a 20-unit market-rate multifamily community in the North Bay, to 55 Canal Street LLC. This is the largest sale by unit count in Marin County since October 2024. CBRE s Ben Mollahan and Adam Foley represented the buyer, 55 Canal Street LLC. The duo brokered three of the last four multifamily transactions in San Rafael s Canal submarket, totaling $15 million across 58 units. The property was sold for the first time since it was built in the 1960s. San Rafael s Canal neighborhood is known for its market fundamentals with high occupancy and very minimal turnover. This off-market transaction reflects the future confidence local investors hold in the area, said Mollahan. Located at 55 Canal Street, […]

CHARLOTTE, NC - Cushman & Wakefield announced that the commercial real estate services firm has arranged the $58,000,000 sale of The Coves at Lake Wylie, a premier lakefront residential development site with 499 fully permitted residential lots. The 162-acre project is in The Palisades, one of the most sought-after suburban neighborhoods in Charlotte, and is the last undeveloped community of its scale within the master-planned development. The Coves at Lake Wylie will also be ideally situated near national retailers, grocers and a variety of restaurants and just 30 minutes away from Charlotte s city center, offering unmatched accessibility. Alex Phillips, Andy Slowik, Battle Smith and Sparling Davis of Cushman & Wakefield represented the seller, Drapac Capital Partners, in the […]

NEW YORK, NY - Dwight Capital and its affiliate REIT, Dwight Mortgage Trust ( DMT ), closed $307.6MM in real estate financings in January. Notable transactions included a construction loan for Sutphin Phase II in New York, a bridge loan for a portfolio of four skilled nursing facilities on the East Coast, and another bridge loan for Silk Lofts in New Jersey. DMT provided a $148MM construction loan for Sutphin II, a planned 524-unit luxury high-rise apartment building in Jamaica, NY. The 24-story development will feature 366 market-rate units and 158 affordable units, ranging from studio to three-bedroom apartments, along with 7,750 square feet of ground-floor retail. The community will offer premium amenities, including a rooftop space, gym, business center, game room, theater, resident […]

WILMETTE, IL - The Laramar Group, a leading national real estate investment firm, completed the acquisition of a 294-unit multifamily community in Chicago s west suburban market. The Easton Downers Grove is located at 2845 Easton St. in Downers Grove, IL, part of an established, infill market in Southeast DuPage County. FPA Multifamily, LLC sold the asset. The sale and financing was done by JLL s Capital Markets team. JLL s Investment and Sales Advisory team was led by Managing Directors Kevin Girard and Mark Stern, Director Zach Kaufman, and Senior Analyst Betsy Romenesko. JLL s Debt Advisory team was spearheaded by Senior Managing Director Danny Kaufman, Director Medina Spiodic, and Associate Rebecca Brielmaier. Originally constructed as condominiums in 2009, The Easton Downers Grove is […]

PEA RIDGE, AK – Cushman & Wakefield announced that the commercial real estate services firm has arranged the $24,800,000 sale of The Benton, a 150-unit multifamily community located at 200 Ryan Rd. in Pea Ridge, Arkansas. Martin Bynum, Cole Herget and Craig Hey of Cushman & Wakefield represented the seller, Aria Holdings, LLC, in the transaction. The community was acquired by HPP Equity. Over the next handful of years, Pea Ridge will likely be one of the biggest beneficiaries to the increased demand and higher real estate pricing in the more core areas of Benton County. Pea Ridge s proximity to new employment drivers and amenities that downtown Bentonville provides, continues to create a compelling value proposition for many. The transaction for The Benton is the first of its […]

CHICAGO, IL - Origin Investments, a leading multifamily real estate fund manager, announced the acquisition of the Queens Wedgewood-Houston (Queens WeHo), a 221-unit multifamily community at 715 Hagan St. in the WeHo neighborhood of downtown Nashville, Tenn. The purchase price exceeded $79.4 million. With this acquisition, Origin Investments portfolio of multifamily properties totals nine communities and over 2,300+ units in varying stages of pre-development, construction or operation in Nashville. "As active investors and developers in Nashville, we recognized the necessity of being in the dynamic Wedgewood-Houston submarket and were highly impressed by the unique nature of Queens WeHo," said Kyle Verhasselt, Senior Vice President of Acquisitions at Origin Investments. "With its […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $90 million Fannie Mae Delegated Underwriting & Servicing (DUS®) Affordable Housing (MAH) loan to refinance a 317-unit multifamily property in Yonkers, New York. The financing was originated by Eric Rosenstock, Senior Managing Director in Greystone s New York office. Built in 1974, Cromwell Towers Apartments in Westchester County is a 12-story building consisting of one-, two-, and three-bedroom income- and rent-restricted units. The $89,989,000 non-recourse, fixed rate financing features a five-year term and 35-year amortization, with two years of interest only payments. The Bond- and LIHTC-encumbered property is covered by a long-term HAP contract that includes 99% of the units, […]

BROOKLYN, NY – Bayport Funding, a direct private bridge lender for real estate developers, has closed a $1.16 million acquisition and construction loan for a two-family property on Greene Avenue in Brooklyn. This 2,400 square-foot property is centrally located in the Bushwick submarket, which continues to see strong demand in the rental market. Bushwick s real estate market remains particularly desirable due to its status as a major New York creative and cultural hub, abundance of dining, bars, and entertainment establishments, and multiple public transportation options. These factors, in addition to competitive rental rates relative to other popular Brooklyn neighborhoods, have been instrumental in attracting rental consumers. Overall, Brooklyn s enduring popularity stems from its […]

CHICAGO, IL - The trajectory of multifamily construction pricing in 2025 is at an inflection point and will be significantly influenced by the severity of President Trump s long-anticipated tariffs on materials such as aluminum, steel and electronics and near-term market headwinds including constricted capital markets and softened rents. According to Origin Investments, a multifamily real estate fund manager with 28 projects in varying stages of development and construction, tariffs could cause pricing spikes of up to 7.5% for all construction materials and lead to overall project cost increases of 3% to 4%. The firm also notes that higher borrowing costs and slow rent growth in the near term could blunt the price increases caused by tariffs. The impact of highly anticipated tariffs is […]

CHICAGO, IL - Kiser Group is pleased to announce the successful sale of a newly constructed, condo-quality multifamily property in the East Garfield Park/Tri-Taylor neighborhood. The property achieved a final sale price of $750,000, equating to an impressive $150,000 per unit. The transaction, brokered by Kiser Group s Jack Petrando and Noah Clark, attracted multiple offers and ultimately closed on January 30. The fully occupied, five-unit building consists of three two-bedroom, two-bathroom units and two three-bedroom, two-bathroom units. With in-unit laundry and rear parking, the turn-key property offers modern amenities and a desirable living experience for tenants. Achieving $150,000 per unit, the sale set a high benchmark for the area. The property was fully occupied at the time of […]

SAN FRANCISCO, CA - CBRE s Mike Walker, Jesse Weber, Andrew Behrens and Brad Zampa on the Debt and Structured Financing team in San Francisco secured the five-year loan from a life company. We secured one of the lowest loan spreads we ve seen in the past year on this financing. This is a tribute to the compelling real estate and relationship opportunity with Hines, said Walker. The property s location, with close proximity to the Daly City BART Station, is easily accessible to top employers in both San Francisco and the inner Peninsula. With great demographics and strong market fundamentals, the property is well positioned for future rent growth. Built in 2011, 88 Hillside features 95 units across five buildings, totaling 109,318 sq. ft. The community has large one-, two- and […]

CHICAGO, IL - Kiser Group is pleased to announce the successful off-market sale of a vintage 33-unit mixed-use property in the Rogers Park neighborhood of Chicago. The transaction closed on January 24, 2025, for $3,000,000. Advisors Katie LeGrand, Jacob Price, and Danny Logarakis represented the parties in the deal. The property, located just half a block from the CTA Red Line Howard Stop, had been under the same ownership for approximately 20 years before being acquired by Becovic, a local owner expanding its footprint in the area. This acquisition represents a strategic value-add opportunity for Becovic as they continue to invest in the neighborhood. This sale highlights the continued demand for well-located, value-add properties in Rogers Park, said Danny Logarakis, Director at Kiser […]

PHOENIX, AZ - TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged financing on behalf of Capstone Collegiate Communities for the construction of a new 165-unit, 532-bed luxury student housing property located adjacent to the University of Arizona in Tucson, Arizona. A Fortune 100 insurance company provided the equity financing. Tucson continues to be one of the nation s strongest student housing markets, with demand still outpacing supply, said Timothy S. Bradley of TSB Capital Advisors. When you combine those strong market fundamentals with a high barrier for entry in the desirable Main Gate area, it makes this a really desirable project. We were thrilled to work with our friends at Capstone to help make it […]

MIAMI, FL - McDowell Housing Partners (MHP), a leading development and investment firm specializing in the development of affordable multifamily housing communities, has completed construction of Southpointe Vista Phase I and closed financing on the second phase of the transformative multiphase community in Miami-Dade County near Cutler Bay. Phase I delivers 124 units and Phase II will provide another 208 units for families and individuals earning at, or below, 70% of the county s median income. Southpointe Vista is strategically located at SW 117th Court and SW 214th Street. Phase I the newly completed 10-story building, was partly funded through Miami-Dade County s Housing and Community Development Department with $2.5 million in local surtax funds. REPRTWÄR Architecture and Design […]

DALLAS, TX - Knightvest Capital, a vertically integrated multifamily investment firm, today announced the acquisition of the SKYE of Turtle Creek ("Skye") community in Dallas, Texas. This successful acquisition represents the sixth investment in Knightvest's Fund II. Built in 1998, the 331-unit high-rise is located in the prolific submarket of Uptown Dallas, an area where Knightvest has direct experience. Knightvest will leverage its construction, management, and operational experience to seamlessly integrate the community into its portfolio. With the property largely in its original condition, Knightvest plans to renovate a considerable portion of the units and make significant updates to the exterior and common areas. These improvements will position Skye to compete with new luxury […]

DORAL, FL - BGO, a leading global real estate investment manager, and The Dermot Company ( Dermot ), a vertically integrated multifamily investment manager, owner, and operator of high-quality communities, announced the completion of a solar energy system installation atop the two parking garage roofs at Cordoba, a 454-unit luxury apartment community in downtown Doral, Florida. At full operational capacity, the solar energy system is expected to produce enough electricity to provide 50% of the energy needs for the entirety of the property s common areas, including its extensive amenities. The adoption of renewable power at the property, co-owned by both firms, is part of a growing trend of multifamily developments in Florida incorporating solar energy systems. BGO and Dermot purchased […]

CHICAGO, IL - Kiser Group recently celebrated 20 years of success, growth, and lasting relationships. Over the past two decades, Kiser Group has cemented its reputation as a trusted leader in multifamily real estate, delivering exceptional results and fostering meaningful connections across the industry. Since its founding, Kiser Group has closed over $6 billion in transaction volume and successfully completed more than 2,000 transactions. These numbers highlight the firm s enduring impact and ability to navigate the evolving real estate landscape with expertise and dedication. The milestone anniversary was marked with a celebration at Kiser Group s office. Clients, industry professionals, and team members all tapped a keg to toast Kiser Group s success. The event also featured a live […]

MIAMI, FL - Miami-based real estate development firms Constellation Group and The Boschetti Group marked a significant milestone with the groundbreaking of Ella Miami Beach, the 10-story boutique condominium that promises to redefine luxury living in the heart of North Beach. Located at 6940 Abbott Avenue, the 103-unit development pays homage to the city's glamorous Art Deco heritage, offering a fresh approach to elegant urban living. The ceremonial groundbreaking event was attended by key stakeholders, including Eduardo Otaola, Managing Principal of Constellation Group; Jose Boschetti, Principal of The Boschetti Group; Rainer Viete, Vice President of Vietmar; Raymond Fort from award-winning architectural firm Arquitectonica; Daniel de la Vega, President of One Sotheby s International […]

ROSEMONT, IL - Construction is completed at Redwood Crystal Lake, a new neighborhood of 124 single-story apartments in Crystal Lake, Illinois. McShane Construction Company built the development on behalf of client Redwood Living. We are proud to have partnered with Redwood to bring this new neighborhood to life in Crystal Lake, commented David J. Rintz, Regional Vice President – Multi-Family at McShane. Redwood Crystal Lake offers residents a unique combination of privacy, convenience, and upscale finishes, and we re excited to see this build-to-rent community thrive. Designed by Mann Parsons Gray Architects, the community integrates 25 single-story townhome-style buildings with four to six units each. The wood-frame homes showcase attractive facades of vinyl siding and stone […]

PHOENIX, AZ - TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged financing on behalf of Up Campus Student Living for the construction of Blume on Ivy, a 231-unit, 641-bed luxury student housing property located near the University of Virginia in Charlottesville, Virginia. Fifth Third Bank provided the construction debt with additional participation from First Citizens Bank. This project is perfectly located between UVA s main and north campuses along the burgeoning Ivy Road Corridor, said Ian Bradley of TSB Capital Advisors. We re excited to be a part of this outstanding addition to the Charlottesville market and proud of all included that made it come to fruition. Blume on Ivy will offer one-, two-, three- […]