Multifamilybiz-com Press Releases

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $10.5 million sale of Logan Station, a 24-unit multifamily building at 2504-16 N. Willetts Court in Chicago s Logan Square neighborhood. The transaction equated to $437,500 per unit. Interra Senior Managing Partner Joe Smazal and Director Mark Dykstra represented the confidential seller and also procured the buyer, Breneman Capital. Logan Station was fully occupied at the time of sale. Due in part to the property s larger-than-average unit sizes and its desirable location, we saw significant engagement, receiving multiple written offers and closing at 99% of list price, said Smazal. This depth of buyer demand speaks to the value multifamily investors assign to […]

CHICAGO, IL - RMK Management Corp., one of the Midwest s largest market-rate apartment management firms, has been named property and leasing manager for two rental properties in Pleasant Prairie, Wis., both of which were recently purchased by Santefort Real Estate Group. The communities, Cobblestone Creek and Fountain Ridge, are both fully occupied. The village of Pleasant Prairie is centrally located between Kenosha, Wis., and the Illinois border, which are each just a 15-minute drive away. Offering convenient access to major commuter corridors connecting residents to Milwaukee, about 37 miles to the north, and Chicago, 56 miles to the south, the Pleasant Prairie area is also highly sought after for its abundant entertainment and recreational amenities. We are honored that Santefort […]

CHICAGO, IL - Eastham Capital, a private equity real estate firm dedicated to providing superior, risk-adjusted returns to investors through the transformation of undervalued multifamily real estate, has announced the acquisition of The Flats at Gladstone, a 168-unit garden-style community in Glendale Heights, Illinois, within Chicago s desirable DuPage County submarket. South Florida-based Eastham Capital acquired the community for $24.1 million through its fund, Eastham Capital Fund VII, LP, with its trusted operating partner, Bender Companies. To date, Eastham and Bender have co-invested in twelve projects, all of which are currently delivering above-proforma returns. We are excited to announce the second acquisition for Eastham Capital Fund VII as we expand our footprint in Chicago […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $46,700,000 bridge-to-HUD loan to refinance a portfolio of five seniors housing properties with 153 beds in total in Minnesota. The financing was originated by David Young, Managing Director at Greystone. Chris Clare, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher assisted on the transaction. The properties, consisting of 97 assisted living and 56 memory care beds, are located throughout the Minneapolis–St. Paul metropolitan area, and are managed by an experienced regional seniors housing provider. The communities have benefited from consistent rate growth in recent years. Structured as a 24-month, interest-only bridge loan with two six-month extension options, the financing […]

NASHVILLE, TN - Stratus Management (Stratus), a forward-thinking property management firm focused on elevating residential living experiences through operational excellence and proactive service, officially launched in the Nashville market. Demonstrating immediate traction in one of the nation s fastest-growing metropolitan areas, the company already secured development partnerships with two respected developers: Bristol Development Group and Guerrier Development. The partnerships position Stratus as a strategic advisor and operational partner supporting residential communities from the earliest stages of development through long-term property management. By integrating operational expertise early in the planning process, Stratus helps ensure communities are designed with long-term […]

PAOLI, PA - TSB Realty, LLC successfully completed the sale of U Club Townhomes at Oxford, a 132-unit, 528-bed student housing community located pedestrian to the University of Mississippi campus in Oxford, Mississippi. College Town Communities purchased the property from an undisclosed seller. We were fortunate to work with such great partners on this deal, especially under some unusual outside circumstances, said Randall Calvert with TSB Realty. Despite the transaction occurring while the Oxford community was dealing with an historic ice storm that ended up shutting down campus, College Town Communities and everyone else worked diligently to get this one over the finish line smoothly and on schedule. Delivered in 2018, U Club Townhomes consists entirely of three-bedroom floor plans, […]

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $5.1 million sale of 2156 and 2158 W. 21st St., a two-building, 24-unit vintage multifamily portfolio in Chicago s Pilsen neighborhood. The deal equated to $212,500 per unit. Interra Managing Director Jeremy Morton represented the confidential buyer, as well as the private seller. The properties were fully occupied at the time of sale. The Chicago multifamily market has seen sustained investor interest for assets that offer proven performance and an opportunity to scale up one s portfolio, said Morton. This deal underscores how strategic improvements can enhance operational results and attract a deeper pool of capital. Constructed in 1893, the properties […]

NEW YORK, NY - Alfred, the technology-first residential management platform and parent company to RKW Residential and A Residential (formerly Quarterra Living), today announced the launch of Arqline, a unified national operating platform managing over 50,000 multifamily and build-to-rent homes across 31 markets, representing $20 billion in asset value. Arqline brings together RKW Residential and A Residential (formerly Quarterra Living) under a single operating model and management identity, combining decades of property management expertise with Alfred s technology foundation. Alfred was founded on a simple belief: rental living should be intuitive, resident-focused, and powered by teams who bring together genuine hospitality and technology that works. Twelve years, five acquisitions, […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided $64,960,000 in FHA/HUD-insured financing for the refinance of a three-property healthcare portfolio in Pennsylvania. The financing was originated by Christopher Clare, Senior Managing Director, with additional team members including David Young, Ben Rubin, Ryan C. Harkins, Parker Nielsen, and Liam Gallagher assisting on the transaction. The portfolio comprises 408 skilled nursing beds, 88 assisted living and memory care beds, and 10 independent living units across multiple Pennsylvania facilities delivering a full continuum of care. The portfolio is operated by an experienced regional healthcare group with a track record of improving facility performance, contributing to strengthened […]

PHOENIX, AZ - Neighborhood Ventures (NV), a leading real estate operator and an online real estate investment company that enables both accredited and non-accredited investors to invest in multifamily properties, today announced the acquisition of Venture on 16th, an 86-unit multifamily community located in the highly desirable Biltmore District of Uptown Phoenix. The property was acquired for $19.5million in a short sale transaction, representing a purchase price approximately 30% below the prior owner's basis. The acquisition provides immediate monthly cash flow for investors with additional rent upside as market rents are realized. Venture on 16th is a fully renovated community featuring a mix of two-, three-, and four- bedroom units. This is a rare offering in an urban Phoenix […]

HOUSTON, TX - OHT Partners, a multifamily developer, construction and investment firm, has broken ground on a n​ew apartment community in west Houston slated to serve young professionals. Located on a 13.1-acre site at 19615 Park Row Boulevard, the community is situated in the path of Houston s employer migration towards the west side of the city as well as the expanding presence of major hospital systems. The community, which has yet to be named, will feature a total of 396 units, ranging in size from one to two bedrooms with 702 to 1,256 square feet. Unit-specific amenities include: smart lock technology, smart/wi-fi enabled thermostats, French door refrigerators, front control ranges, quartz countertops, nine-inch vinyl wood flooring, brass hardware, linen closets, open shelving […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $46,000,000 bridge-to-HUD loan to refinance a two-property seniors housing portfolio in Ohio. The financing was originated by Christopher Clare, Managing Director, with additional team members including David Young, Ben Rubin, Ryan C. Harkins, Parker Nielsen, and Liam Gallagher assisting on the transaction. The portfolio, comprising of two communities, includes a combined total of 118 skilled nursing units (186 licensed SNF beds), 16 memory care units, 232 assisted living units (317 licensed AL/MC beds), and 10 independent living units. The bridge loan enables the borrower to refinance the properties and position the assets for long-term, HUD-insured permanent financing. Bridge-to-HUD […]

MIAMI, FL - 13th Floor Investments, a South Florida-based developer, and Rockpoint, a Boston-based real estate private equity firm, in collaboration with ANF, the construction manager for the project, officially broke ground on Link at Boca, a new mixed-use multifamily community in Boca Raton, Florida. The ceremony was attended by representatives from 13th Floor Investments, Rockpoint, and ANF, along with honorary guests from the South Florida Regional Transportation Authority, Palm Beach County Councilmen, Palm Beach County Vice Mayor Marci Woodward, and Boca Raton Mayor Scott Singer. We are excited to officially break ground on the Link at Boca bringing this transit-oriented development to Boca Raton, said Rey Melendi, Chief Operations Officer, Principal of 13th Floor Investments. […]

MIAMI, FL - In a market where capital is still available but far less forgiving, the ability to structure deals with precision has become a defining advantage. As underwriting tightens and lenders place greater emphasis on downside protection, the middle of the capital stack, where preferred equity, mezzanine financing, and hybrid structures sit, has emerged as the most complex and actively negotiated part of a transaction. In this conversation, Emile Schachter, co-founder of WD Capital Group, shares how his principal-side experience informs the firm s advisory approach, what credit committees are really looking for today, and why disciplined structuring is now the difference between deals that stall and those that close. Your background includes Rialto Capital, Bridge Investment Group, […]

CHARLOTTE, NC - Woodfield Development, one of the nation s leading developers of Class A multifamily communities, announced the completion of Merritt Apartments, a new 354-unit residential community in Huntersville, a rapidly growing suburb north of Charlotte. Merritt Apartments represents Woodfield s 38th development in North Carolina. Over the past 20 years, the Charleston-based firm has delivered more than 11,300 apartment homes totaling over $2.7 billion in development across the state. Leasing began in late December, with early demand reflecting continued interest in well-located multifamily housing within the Charlotte metro area. Huntersville continues to attract residents seeking access to employment centers, outdoor amenities, and established neighborhoods, said Chad Hagler, […]

PHILADELPHIA, PA - The developers of Rivermark Northern Liberties – Jefferson Apartment Group (JAG) with Haverford Development Partners – are pleased to welcome Lucky Duck to the riverfront mixed-use community. The new tavern opened March 18. Our goal from the start with Rivermark has been to transform an area of previously neglected Delaware River waterfront into an active destination for our residents and the broader community, said Drew Chapman, JAG Senior Vice President and Development Partner. Every community needs a gathering place, and we re excited to have Lucky Duck be a part of Rivermark Northern Liberties. Located in street-level space at 501 N. Columbus Blvd. with open-air seating and water views, Lucky Duck is a new concept from the local team behind the city s […]

CHARLOTTE, NC - Flournoy Development Group (FDG), in partnership with Keihanshin Building (Osaka, Japan) and The Japan Overseas Infrastructure Investment Corporation (Tokyo, Japan), has acquired a 30.7-acre development site for Declan Research Park, a new multifamily community located in Charlotte, North Carolina s University Research Park. Flournoy has also acquired a second future development site. The project will be developed in two phases and will bring a total of 561 units, including apartment and townhome residences, to Charlotte s growing University submarket. Rob Cochran and Bill Harrison with Cushman Wakefield represented the land sellers in the transaction. Phase I will include 318 apartment homes, with first unit deliveries expected in 2027. A future Phase II is planned to add […]

SEATTLE, WA - JPI, a premier developer of multifamily communities, today announced the acquisition of a development site at 400 4th Ave. W in Seattle. JPI, in partnership with Stream Real Estate LLC, plans to build a 10-story, 189-unit Class A community in the heart of the Uptown Neighborhood in Seattle. Meeting the Modern Need While most downtown projects in and around Seattle, in addition to other major metropolitan areas, have focused on small efficiency units, the project aims to provide larger, family-sized housing, with one-quarter of the units designated to two- or three-bedroom layouts. JPI and our partners are thrilled to be bringing new housing, including family-sized units, to one of Seattle's most vibrant neighborhoods, said Mollie Fadule, chief financial and investment […]

SAN FRANCISCO, CA - CBRE arranged the $8.5 million sale of two 10-unit multifamily properties, 620 Masonic Way and 630 Masonic Way in Belmont, California. The two properties are the latest examples of growing multifamily investment in the San Francisco Bay Area and demand for high-quality, well-located assets. Pellegrini Apartments LLC sold 620 Masonic Way to Masonic Way LLC for $3.6 million. GRI Inc. sold 630 Masonic Way to 630 Masonic LLC for $4.875 million. Adam Foley and Ben Mollahan on CBRE s San Francisco Bay Area Multifamily team represented the sellers. Both 620 Masonic Way and 630 Masonic Way have community laundry facilities, covered parking and are one block away from the Caltrain station. Three units at 630 Masonic Way have in-unit washer/dryers. The sale of 630 Masonic Way […]

NAPLES, FL - McDowell Housing Partners MHP), a leading affordable housing developer and investment company, and DeAngelis Diamond, a nationally recognized leader in the construction industry, hosted the official groundbreaking ceremony for EKOS Creekside, a 160-unit affordable housing community in Naples, Florida. EKOS Creekside is the first development in Collier County to be delivered under Florida s Live Local Act. With 160 apartments for working families, in a prime location along the Tamiami Trail corridor, and with rents more than 30% below market, EKOS Creekside is our fourth affordable housing development in Naples, and our most impactful. We are investing in the long-term prosperity of Collier County by ensuring our vital workforce has quality, affordable homes, said […]