Multifamilybiz-com Press Releases

SCOTTSDALE, AZ - The Multifamily Innovation® Council today announced the launch of its pioneering Industry Beta Program, marking a significant milestone in multifamily innovation with 84 leading owner/operator companies already committed to participation. This initiative represents the largest coordinated effort to advance technological innovation and AI implementation in the multifamily industry's history. The program, headquartered at the state-of-the-art nectarflow® Innovation and AI Lab in Scottsdale, Arizona, has garnered extraordinary interest from industry leaders, with participating companies representing portfolios ranging from boutique operations to those managing over 100,000 units. Initial research shows that 71% of participating companies are "definitely committed" to […]

NEWPORT BEACH, CA - Interstate Equities Corporation (IEC) is pleased to announce that it has acquired The Marina at Martha Lake, a 124-unit garden-style community, for $34.75 million. Formerly known as Woodstone Apartments, the multifamily property was purchased from Security Properties in a transaction that bolsters IEC s value-add strategy as it continues to expand in the Seattle market. We are constantly on the lookout for investment opportunities near employment centers where incomes are robust and people love to live, said Marshall Boyd, President of IEC. This community by Martha Lake in the Bothell submarket is ideal in that it will be supported by the nearby Innovation Triangle that includes large employers in tech, biotech, aerospace, and manufacturing. Last year, the U.S. […]

INDIANAPOLIS, IL - The Annex Group®, a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities, today announces plans for a new affordable housing community consisting of 201 units in Dubuque, Iowa. Union at the Marina will offer 201 one, two and three-bedroom units to households whose income level is at or below 70 percent of the area median income (AMI). The $55.1 million community will be located at 2660 Kerper Blvd, 52001. "We are thrilled to bring this project to Dubuque, said David Wesner, VP of Development for The Annex Group. The city has been a catalyst in addressing their housing need, and we are honored to be able to work with them to meet the overwhelming demand in their community. With floorplans to meet the needs of […]

CHICAGO, IL - RMK Management Corp., one of the Midwest s largest market-rate apartment management firms, has been named property manager for three multifamily rental properties in Chicago s northern suburbs owned by Libertyville, Ill.-based TLP-Fides. Having TLP-Fides put its trust in us for the management of not just one but three of its Chicago-area communities is exactly the type of vested client relationship we take pride in as a management firm that s built our reputation specializing in Chicagoland luxury rental communities, said Anthony Rossi Jr., president of RMK Management Corp. These new management contracts also showcase the breadth of our services and expertise, from handling day-to-day leasing and management to coordinating renovations and improvements to overseeing a […]

HOUSTON, TX - The Dinerstein Companies ( TDC ) and Harrison Street are pleased to announce Inspire Homes Missouri City was awarded Build-To-Rent ( BTR ) Deal of the Year at the 3rd Annual IMN Single Family Rental ( SFR ) Industry Awards held on December 2, 2024 in Scottsdale, AZ. Viewed as the largest industry awards for the SFR and BTR space, the IMN SFR awards panel consisted of twenty esteemed judges within the industry and included principles, CEOs, and presidents from various development and operating firms, as well as lenders and architects. Criteria for the award included everything from deal strategy to design execution, as well as lease up and market performance. We are especially proud of this honor given this was TDC s first single-family Build-to-Rent development, said Brad […]

MIAMI, FL - Bay Heights Capital has announced the successful acquisition of a one-acre site located at 280 NW 79th Street in Miami s rapidly evolving Little River neighborhood. This transaction, finalized last month, marks a significant addition to the firm s growing pipeline of multifamily development projects in South Florida. Positioned along the dynamic 79th Street corridor, the newly acquired site is strategically located just two blocks away from another Bay Heights Capital project currently in development. Kenneth Fantes, Principal of Bay Heights Capital, highlighted the firm s confidence in the area s potential: We are very bullish on the growth we re seeing in Little River. The 79th Street corridor is a vital link connecting Miami to Miami Beach, and we are committed to […]

NEW YORK, NY - Greystone, a leading national commercial real estate finance company, has provided a $21,000,000 bridge loan for a multifamily property in West Valley City, Utah. The financing was originated by Lorie Hanson, Managing Director at Greystone, on behalf of Rich Day Group (RDG). Recently constructed and located just outside of Salt Lake City, Erin Hills Estates is a 61-unit luxury townhome-style rental community. The pet-friendly property s amenities include a park and future pickle ball courts, with meticulous landscaping and sweeping views of the Wasatch Front. It was a pleasure to help our client really bring Erin Hills to completion for lease-up and stabilization with this bridge loan, said Ms. Hanson. We are dedicated to delivering outstanding results for our clients, […]

NAPERVILLE, IL - Marquette Companies, a national leader in multifamily development and property management, has announced its acquisition of Ascend St. Charles, a 400-unit apartment community in a prime location near highly-rated schools and key transportation corridors in Chicago s western suburb of St. Charles, Ill. Located on a landscaped 25-acre site at 100 Lakeside Drive, east of the village s downtown, Ascend St. Charles offers a mix of one-, two- and three-bedroom apartments, with monthly rents starting in the mid-$1,600 range. Select units feature stainless steel appliances and white painted cabinets, fireplaces, private outdoor space, and in-unit washers and dryers. Amenities include a 4,838-square-foot clubhouse that was recently renovated and includes enhanced remote-work […]

TUPELO, MS - Intervest Corporation (Intervest), Hunt Capital Partners (HCP), and The City of Tupelo celebrated the grand opening for Carnation Village. Located at 514 Carnation St., Carnation Village is a non-smoking community offering 27 one- and 6 two-bedroom apartment homes for low-income seniors. The development transforms the historic Carnation Milk Plant into affordable housing for senior households who earn between 30%-60% of the Area Median Income (AMI). To mark the special occasion, key speeches were provided in the clubhouse by Tupelo City Mayor Todd Jordan, Intervest Founder and President Steve Nail, Tupelo Historic Preservation Committee Member Doyce Dees, Cadence Bank Senior Vice President Will Shurtleff, HCP Managing Director William Teschke, and Mississippi Home Corporation […]

INDIANAPOLIS, IN - The Annex Group®, a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities, today announces plans for a new affordable housing community in Council Bluffs, Iowa. Union at Bluffs Run will offer 192 one, two and three-bedroom units to households whose income level is at or below 60 percent of the area median income (AMI). The $58.2 million community will be located at 2430 S. 19th St., Council Bluffs, IA 51501. A ceremonial groundbreaking bringing together community partners, local leaders including Council Bluffs Mayor Matt Walsh, and the community took place yesterday, marking the official start of construction on the project. Entering the Council Bluffs area is a natural fit for The Annex Group, said Ryan […]

NEW YORK, NY - Lendlease, a leading integrated real estate and investment management group, and joint venture partner Aware Super, one of Australia s largest superannuation funds, today unveiled the name and new renderings for The Riverie, an 834-unit multifamily development at 1 Java St. along the Brooklyn waterfront in Greenpoint. With leasing starting in 2025, The Riverie offers residents modern waterfront homes for rent, wellness-focused amenities and a sustainable, all-electric design. Located on a full-block site, The Riverie includes two residential towers reaching 37 and 20 stories, as well as a mid-rise podium with frontages on India, Java and West streets. Thirty percent of the development s apartments are designated as affordable housing under the Affordable New York Housing […]

LONG BRANCH, NJ - 390 Ocean Owner LLC has closed on a capital structure in excess of $250 million for The Atlantic Club, a new oceanfront luxury condominium in Long Branch, New Jersey. The financing from Madison Realty Capital and Unity Capital, unprecedented for a residential project in the region, was arranged by Iron Hound Management Company. The Atlantic Club is expected to welcome residents at the end of 2026. Located at 390 Ocean Avenue, the dual-tower condominium project will deliver 132 one-to-five-bedroom homes, including six penthouses, more than 75,000 square feet of indoor and outdoor amenities, and an elevated level of art and design that has changed the development paradigm for the Jersey Shore. Owners from Stillman Development International, LLC, Surrey Equities, and Gotham […]

IRVINE, CA - Elite Business Service, LLC (EBSC Lending), along with its subsidiaries, is a prominent commercial real estate lender specializing in middle-market projects has provided a $31.1 million loan to finance the construction and stabilization of a seven-story, mixed-use development in Los Angeles' historic and highly sought-after Hollywood neighborhood. The project will feature micro-unit multifamily housing and retail spaces. The loan was arranged by Leslie Augustin, Senior Vice President of Loan Processing & Servicing at EBSC Lending. The financing is for a New York-based, vertically integrated real estate development firm with a diverse portfolio and over 60 projects completed. The firm specializes in designing, developing, constructing, and managing a range of rental […]

NEW YORK, NY - MonticelloAM, a specialized multifamily and seniors housing bridge lending platform, provided a senior bridge loan for a multifamily community in Exton, Pennsylvania. MonticelloAM Managing Director Chris Hetzel originated the financing. The interest-only, floating-rate loan carries a 24-month term with multiple extension options. The purpose of the bridge loan is for the Sponsor, Cornerstone Tracy, to recapitalize the existing debt on the property. The MonticelloAM team leveraged our local market knowledge to tailor a financing option that met Cornerstone Tracy s needs. Along with the Newmark Philadelphia team, they provided an exceptional partnership experience, and we look forward to seeing the business plan through for this Class-A asset, said Mr. Hetzel. Completed […]

ORLANDO, FL - Altman, a leading real estate development company, announced today the opening of phase II of its newest luxury multifamily community, Altís Grand Lake Willis, featuring 230 apartments ranging from one- to three-bedrooms in Orlando s O-Town West neighborhood. The garden-style community, centrally located at 6260 Juniper Pine Way, offers apartment homes with contemporary design and spacious floor plans to meet the demand for high-quality rentals. Phases I and II of the community were developed under the company s Altman Living operating platform, which has a history of developing and investing in the multifamily real estate market for over 57 years. Following the successful opening of the development s phase I, we are delighted to celebrate this final milestone in the […]

ATLANTA, GA - Woodfield Development, one of the nation s top 20 developers of Class A multifamily communities, celebrated the completion and opening of Union Green, the premier new construction community in Union City, Georgia, just south of downtown Atlanta. As the developer continues expanding its footprint across the Southeast, Union Green represents Charleston-based Woodfield Development s fifth project in the state of Georgia. With the addition of Union Green, the multifamily developer has delivered 1,494 units, totaling $390 million in the state of Georgia over the past 5 years. The opening comes on the heels of Woodfield s recently completed Holden at Oak Grove, a multi-building residential development with 296 units located in Athens, and EmmaJames at Savannah Harbor, a 280 unit […]

NEW YORK, NY - Gindi Equities today announced the acquisition of Timber Creek Apartment Homes, a multifamily community located at 4720 Timber Parkway South in Fargo, North Dakota. Gindi acquired Timber Creek from Property Resources Group, which will continue to manage and service the asset. The purchase marks Gindi s second acquisition in the Fargo market, as the firm continues to expand its national portfolio of premier residential assets. Gindi plans to implement interior upgrades at Timber Creek, including the installation of new features and fixtures to apartment kitchens and bathrooms. Common areas and grounds will also be renovated, and new exterior amenities will be added to further elevate the property. Timber Creek presents a prime opportunity to make strategic improvements […]

PHILADELPHIA, PA - Elite Business Service (EBSC Lending), along with its subsidiaries, a leading commercial real estate lender specializing in middle-market projects, is excited to announce that it has originated an approximately $18.7 million construction loan to support the completion of a 189-unit, Class A multifamily building in the highly sought-after Rittenhouse Square neighborhood of Philadelphia. The loan, which has an 18-month term, was extended to repeat client Coley O Brien, a prominent leader in institutional-quality middle-market acquisition and development. O Brien s focus includes luxury townhomes, condominiums, and mixed-use multifamily properties, as well as structured credit strategies. With over a decade of experience and more than $700 million in total projects […]

ATLANTA, GA - Jim Chapman Construction Group (JCCG), a leading general contractor specializing in the build-to-rent (BTR) sector, proudly announces that an LDP has been secured for The Cottages at Dawsonville, a new 195-unit rental community. JCCG and a publicly traded investment partner closed on the land on November 8, 2024. Located on 34 acres at Perimeter Road and Ga. Hwy. 53, this project builds on the success of JCCG s first Dawsonville BTR community, Cottages at Dawson Ridge. Land development is underway on The Cottages at Dawsonville, and the community is scheduled to open to residents in the first quarter of 2026. Securing zoning approval with the support of Dawsonville s mayor and local leadership, this latest addition to the Ranch Cottages for Rent portfolio features single […]

MINNEAPOLIS, MN - Weidner Apartment Homes, a real estate investment and property management company recognized industry-wide as a creative developer of new housing, acquired Maverick Apartments in Minneapolis, MN. Maverick holds 168 units between two mid-rise, mixed-use buildings in Minneapolis s North Loop neighborhood along the Mississippi River. This acquisition is across the street from Weidner s other asset, 222 Hennepin Apartments, and brings its portfolio to 7,200+ units in the Twin Cities. Maverick was built in 2016 and has 165,626 SF of total rentable space and 5,020 SF of retail space for two tenants. The community offers luxury studio, one, two, and three-bedroom apartments and townhomes, averaging 986 SF. The homes provide elevated amenities such as gourmet kitchens with […]