Multifamilybiz-com Press Releases

SCOTTSDALE, AZ - Mark-Taylor Companies, a leading luxury multifamily developer, owner and manager in Arizona and Nevada, is proud to announce the official launch of Mark-Taylor Consulting (MTC), its third division of business. Initiated in 2021, MTC has now expanded into an official offering to provide consultation throughout the entirety of the asset life cycle, extending beyond traditional property management. Established in 1985, Mark-Taylor s expertise is rooted in decades of market knowledge, a distinct understanding of operational excellence and award-winning services. Through the launch of MTC, clients may consolidate their services to partner with Mark-Taylor throughout every asset life cycle stage – from strategic planning, pre-development, feasibility studies, acquisition […]

AUGUSTA, GA - Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of Ansley at Town Center, a 358-unit multifamily community in the Evans suburb of Augusta, Georgia. Taylor Bird, Nelson Abels, Laura Aylor, and Jaime Slocumb of Cushman & Wakefield represented the seller in the transaction. The multifamily community was sold by Spyglass Capital Partners and acquired by The Shoptaw Group. Ansley at Town Center offered the buyer an assumable loan which provided better than current market debt and will benefit them for years to come. The community has a proven value-add story and is located in the highly sought-after Columbia County submarket with true barriers to entry, top rated schools, and best demos and retail in the metro area, said […]

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $1.575 million sale of a 12-unit multifamily building in Des Plaines, Ill., a northwest suburb of Chicago. The transaction equated to $131,250 per unit. Interra Managing Partner Patrick Kennelly and Managing Director Paul Waterloo represented the local private buyer. Kennelly and Waterloo also represented the seller, a confidential local partnership. Originally constructed in 1963 as condominiums, the property was converted to rentals in the mid-2000s. The earlier condo deconversion of this property was in response to the need for rental space in the northwest suburbs – a demand that has not slackened in the years since, said Waterloo. Investors have a strong […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, announced that Charlie Mentzer and Brad Waite have joined the firm as Senior Managing Directors, working across the lending platforms to originate financing for multifamily properties nationwide. The pair, each with over 20 years of industry experience, join Greystone from Capital One, where they were both Senior Vice Presidents, and will be based in Atlanta, enabling close collaboration with Cushman & Wakefield. Since 2012, Charlie Mentzer had been responsible for new loan origination out of Capital One's Atlanta, Georgia office, having originated over $6 billion in transactions nationally during his career. He was previously a Vice President at Walker & Dunlop, and also served in loan […]

BROOKLYN, NY - Bayport Funding, a leading direct portfolio lender for real estate investors, has provided a $6.3 million bridge loan for a 16-unit multifamily building in Bedford-Stuyvesant, Brooklyn. Located on Franklin Avenue, the property will comprise nearly 11,500 square feet and offer studios and two-bedroom units. Amenities will include a roof terrace, private decks, washers and dryers, and a backyard. Aesthetically, the building will feature industrial-style windows facing out onto Franklin Avenue as well as private terraces and a red brick façade. Within the interiors, kitchens will include granite counters and stainless steel appliances. As one of the city s premier boroughs, Brooklyn continues to see significant demand for housing that can be addressed through increased […]

CARMEL, IN - Leading financial services provider Merchants Capital today announces it has secured a total of $184 million in Merchants direct seven-year loans for the refinancing of seven separate workforce housing properties located within Indiana, Kentucky and Ohio. The deal was completed in partnership with Zidan Management Group (ZMG), a prominent Midwest-based multifamily operator and developer with more than 20 properties throughout the region. Properties to benefit from this refinancing include: Barton Farms Apartment Homes, Greenwood, Ind., 262 units Bexley Village, Greenwood, Ind., 276 units Creekside at Meadowbrook, Lowell, Ind., 192 units Tymberwood Trace Apartments, Louisville, Ky., 160 units Crestview Apartments, Louisville, Ky., 224 units Camelot East Apartments, […]

FORT MYERS, FL - Continental Properties just announced the grand opening of its newest apartment community, Springs at Daniels Parkway, located at 9080 Arabian Drive, just west of I-75. The community is now accepting lease applications and has a mix of studios, one-, two- and three-bedroom options with private, ground-level entrances. Springs at Daniels Parkway features 288 apartment homes with modern floor plans, high-end finishes, gourmet kitchens, abundant natural light, in-home washers and dryers, and private patios or balconies. Onsite amenities include a resort-style pool, a community clubhouse, an outdoor grill area, a 24-hour state-of-the-art fitness center, a car care area, and a leash-free dog park. "For years, Fort Myers has experienced a growing demand for quality […]

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $1.365 million sale of a two-building, 20-unit multifamily portfolio in Chicago s West Garfield Park and Austin neighborhoods. The transaction equated to $68,250 per unit. Interra Associate Sam Gutierrez represented the local private buyer in the off-market deal. Interra Director Max Grossman represented the confidential seller. This transaction illustrates the continuing demand for value-add assets on Chicago s West Side, even in this high-interest-rate environment, said Gutierrez. The buyer plans to continue capital improvements at these buildings, which will help increase their revenue over time. Located in Chicago s West Garfield Park neighborhood, 4334-40 […]

NEW ORLEANS, LA - 365 Connect, the leader in delivering the world's most sophisticated automated marketing, leasing, and resident engagement platform for multifamily communities across the globe, announced today that the company s CEO, Kerry W. Kirby, will speak at the Multifamily Innovation Summit. The event, catering exclusively to multifamily professionals, runs from December 5 – 6, 2023 in Phoenix, Arizona. Launched by the founders of Multifamily Leadership, Patrick and Carrie Antrim, the Multifamily Innovation Summit will feature important, relevant discussions conducted by leading experts from various fields within the industry. It has become the must-attend event for owners, operators, and corporate executives. The vision of the summit is to create an enriching environment where […]

WILMETTE, IL - Design-driven real estate firm Optima, Inc. has officially completed all spaces and begun welcoming resident move-ins at Optima Verdana®, its new luxury rental community in downtown Wilmette, Ill. Since opening its leasing gallery in May, Optima Verdana® has continued to see a surge in renters looking for a new North Shore apartment of its high standards, resulting in a swift 72% leased status, surpassing lease-up expectations. Optima Verdana® offers 100 thoughtfully designed residences in one-, two- and three-bedroom layouts and penthouse configurations, spanning from 660 to 2,790 square feet. Monthly rents range from approximately $3,000 to nearly $12,000. Designed by Optima CEO and founder David Hovey Sr., FAIA, and David Hovey Jr., AIA, the community stands apart […]

PAOLI, PA - TSB Realty, LLC successfully completed the sale of The Academy on Charles, a 106-unit, 328-bed student housing property located immediately adjacent to Johns Hopkins University s Homewood campus in Baltimore, Maryland. GMH Communities sold the property to an undisclosed buyer. With a location that overlooks historic Homewood Field and Stromberg Stadium, this asset offers students a luxury living experience, said Randall L. Calvert, who brokered the transaction for TSB Realty. We were grateful to work with our friends at GMH to close a deal that made sense for all parties involved. The Academy on Charles is a luxury, boutique asset originally built in the early 1930s, then completely renovated and converted to student housing in 2014. Each of the units is fully furnished […]

NEW ORLEANS, LA - 365 Connect, the leader in delivering the world's most sophisticated automated marketing, leasing, and resident engagement platform for multifamily communities across the globe, announced today its participation in the Multifamily Innovation Showcase on December 5, 2023 in Phoenix, Arizona. The event features trailblazing products and services that are revolutionizing the industry. Providing a suite of modern solutions through infusing intelligent systems with rule-based robotic processes, artificial intelligence, and automation, 365 Connect reinvents operational performance to reduce costs, increase efficiencies, and decrease human dependency. With the recent release of its end-to-end solution built to automate marketing, streamline applications, and deliver leases for […]

BROWNSBURG, IN - Berkadia announced today the financing of and equity sourced for Legacy Park, a 250-unit, 2009 vintage, garden-style walk-up apartment community located in Brownsburg, Indiana. Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia JV Equity & Structured Capital arranged $13 million in institutional equity for Wilkinson Corporation s acquisition. Our long-time client, Wilkinson Corporation has a deep track record of acquiring multifamily assets in the Indianapolis MSA so we were confident we would be able to source an institutional partner in the current environment, said Kirkpatrick. Our team remains extremely active sourcing equity for experienced sponsors, and we are finding a lot of institutional appetite for select markets in the Midwest, said […]

ATLANTA, GA - RangeWater Real Estate, a fully integrated rental housing company with assets across the Sun Belt and Mountain West, promotes Alp Kirmizioglu to the position of Executive Managing Director of Construction. In this role, Kirmizioglu manages RangeWater Construction, the firm s in-house construction firm, while also overseeing the Construction Management, Design Management, and Quality Control functions in support of all projects under development. "We're excited to promote Alp to our executive team," says Steven Shores, RangeWater's Chairman and CEO. "His strong leadership, team-building skills, and global perspective have been invaluable in shaping our construction group to date. This promotion ensures those same qualities are shared across our platform, advancing RangeWater […]

PALO ALTO, CA - PUI announced today that it has provided Preferred Equity to AAA Management to facilitate the development of Ion Aero Apartments, a 302-unit multi-housing community located in the Kearny Mesa submarket of San Diego. CBRE s Bill Chiles and Scott Peterson represented AAA Management for the financing. With an anticipated delivery in early 2026, the apartment community will feature an eight-story building with a unit mix of studio, one-, two- and three-bedroom units. Project amenities include an indoor/outdoor fitness center, yoga studio, a clubroom pool and spa, co-working space, outdoor fire lounges, basketball court, playground, dog runs, sky lounge, and an entertainment lounge. Immediately adjacent to Interstate 805 and Highway 163, the property is within proximity to the […]

JACKSONVILLE, FL - Ability Housing, a nonprofit developer of affordable multifamily housing, today announced the acquisition of the Riverton Tower Senior Center, located at 5353 Arlington Expressway in Jacksonville s Arlington submarket. Ability Housing purchased the 12-story tower and the 10-acre parcel where it is located for $500,000. The transaction closed on August 23, 2023. Riverton Tower Senior Center features 120 units of affordable rental housing for senior citizens ages 62 and older. Community amenities include a pool, on-site laundry facilities, library, computer lab and a dock on the St. Johns River. Current rental rates start at $879 for studio units, $941 and up for one-bedroom apartments and $1,129 and up for two-bedroom apartments. All active leases will remain in place. […]

MINNEAPOLIS, MN - Zach Shope of the Colliers Mortgage Atlanta office recently closed an acquisition transaction on a two-property market rate multifamily portfolio in Chattanooga, Tennessee that included an assumption of an existing Fanne Mae first mortgage loan and an additional supplemental loan. The portfolio includes Richwood Townhomes, built in 1968 with 24 units located throughout four 2-story residential buildings, and Seminole Pathe, built in 1925 with 32 units located in one 3-story residential building and a 1-story single family residence that operates as a duplex. The properties are located within a mile of each other approximately one mile southeast of Chattanooga. The 8.25-year Fannie Mae Supplemental loan was arranged for East Ridge Flats and Townhomes LLC. About Colliers […]

JACKSONVILLE, FL - Ability Housing, a nonprofit developer of affordable housing in communities across Florida, today announced the completion of a three-year strategic plan. The plan was approved by Ability Housing s Board of Directors on July 18, 2023. It is currently in effect and will guide the organization s work through December 2026. The plan identifies two overarching goals: Ensure sustainable resources and community engagement for the fulfillment of Ability Housing s mission (to build flourishing communities where everyone has a home) Elevate workforce and operational capacity for optimal performance The completion of this plan coincides with a housing crisis across Florida, in which families earning at or below the Area Median Income (AMI) must shoulder rising rent costs […]

FAIRFAX, VA - Douglas Elliman, one of the largest independent residential real estate brokerages in the United States, announced today that the firm will be handling the sales and marketing for Ten501 at City Centre West. This is the first condominium project for Douglas Elliman since announcing its strategic expansion into the Metro D.C. area earlier last year. Developed by Ox Hill Companies with interiors by famed New York City-based designer Thomas Juul Hansen, the six-story building will house up to 79 units, including a penthouse. Jeremy Dalpiaz and his team, The Legato Group, will lead sales for the project, with pre-sale reservations commencing this winter and expected date of occupancy in 2026. New development is a pillar of our business at Douglas Elliman, and we are proud to […]

JACKSONVILLE, FL - Ability Housing, a nonprofit developer of affordable multifamily housing, today announced the appointment of Maureen Natkin as the organization s Development & Engagement Director, effective September 5, 2023. She brings more than 13 years of nonprofit leadership experience to the position. Natkin is responsible for driving the organization s fund development and communications strategy and activities. Her priorities include identifying appropriate revenue strategies, and securing resources through private donations, philanthropic grants and other charitable revenue sources to sustain and grow the organization s capacity for service. Additionally, she guides outreach to internal and external stakeholders to share Ability Housing s mission and impact. In the year […]