News

Harrison Street Divests Oxnard Independent Living Property

California & West

Harrison Street Asset Management has sold Clearwater at Riverpark, a 136-unit Class A independent living community in Oxnard. Although JLL, which arranged the sale, did not disclose the sale price or specify the buyer, published reports said healthcare REIT Ventas paid $55.7 million. Built in 2018 within the master-planned Riverpark development and operated by Clearwater Living,...

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Marcus & Millichap Brokers Sale, Financing of Baltimore Office Complex

Washington DC + Apartment Buildings

Marcus & Millichap completed the sale and financing of 1520 S. Caton Ave., a two-building office complex in Baltimore, Maryland. The asset sold for $6.94 million. Marcus & Millichap Capital Corporation (MMCC) secured $6.84 million in financing. “The buyer, a regional aviation services company, intends to partner with a local nonprofit trade school to transform...

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Peakhill Secures $350M Credit Facility to Accelerate Multi-Family Lending Across Canada

Canada + Apartment Buildings

Peakhill Capital has secured a $350-million credit facility for its flagship Peakhill Income Opportunity LP, expanding its capacity to finance multi-family housing projects across Canada. The facility was arranged by a syndicate of Bank of Montreal, Toronto-Dominion Bank and National Bank of Canada as co-lead arrangers and joint bookrunners, with Bank of Montreal acting as...

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Sentinel Real Estate Acquires Oregon Apartment Community

Seattle & Northwest + Apartment Buildings

Sentinel Real Estate has acquired Willow Apartments, an upscale mid-rise multifamily community located in Lake Oswego, Oregon, just southeast of downtown Portland. Completed in 2024, the property is a 158-unit, five-story building that offers a mix of one-, two-, and three-bedroom residences. “Willow Apartments aligns with our strategy of acquiring high-quality rental communities situated in...

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Prima Looking to Acquire More Seniors Homes Across Canada

Canada + Apartment Buildings

Prima Living is looking to acquire more seniors residences across Canada after purchasing a nine-property portfolio in Ontario from Chartwell. “We would like to expand responsibly with discipline growth,” Prima CEO Najib Raie in an interview with Connect. “We are looking at multiple provinces where the demand is high. “In fact, the demand for senior...

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Associated Bank Loans $28M for Chicago Transit-Oriented Apartment Development

Chicago & Midwest + Apartment Buildings

Associated Bank announced the completion of a $28.35 million loan to a joint venture of North Park Ventures and SNS Realty Group for development of a new transit-oriented residential development in Chicago. The loan included funds for acquisition of the former Tortenson Glass Co. which consists of nearly 30,000 square feet of urban infill land....

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Cerberus Acquires Multifamily Loan Book with Heavy Rent-Regulated Exposure

New York & Tri-State + Apartment Buildings

Cerberus Capital Management has acquired a $1.3-billion loan book with heavy exposure to rent-regulated apartments in New York City, Bloomberg News reported. The seller was OceanFirst Financial Corp., which priced the loans at about 92 cents on the dollar. With about $736 million of the $1.3-billion portfolio tied to rent-regulated units, the Cerberus acquisition represents...

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Ryan Advancing Austin’s 6th Street Redevelopment

Texas + Apartment Buildings

Ryan Companies is advancing a redevelopment of downtown Austin’s Sixth Street. The Austin Business Journal reports the redevelopment would take place on a full 1.8-acre block bounded by East Sixth and Fifth streets, Red River Street and Sabine Street. There are three buildings on the site now — a large one and two smaller ones. The...

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