News

Morgan Stanley Leads Acquisition of Metra Living, Adds 3,200 Greater London Rentals

Apartment Buildings

Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), alongside Ridgeback Group, has acquired the Private Rented Sector business of London & Quadrant Housing Trust (L&Q), which trades as Metra Living, for a total enterprise value of £1.045 billion (approximately US$1.38 billion). The transaction includes a portfolio of approximately...

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Newmark Arranges $52M Refi for Cypress Apartment Owner

Texas + Apartment Buildings

Newmark arranged a $52 million cash-out refinance for Cantera at Towne Lake, a 366-unit, Class A garden-style multifamily community located in Cypress, Texas, a high-growth suburb northwest of Houston.  Newmark Multifamily Capital Markets Vince Punzi and Lowell Takahashi arranged the financing through a debt fund on behalf of the borrower, The Bascom Group. The loan...

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Harbor Group Lands $124.6M Refi on Las Colinas Mixed-Use Venture

Texas + Apartment Buildings

Berkadia arranged a $124.6 million loan on behalf of Harbor Group International (HGI) to refinance Alesio Urban Center, a mixed-use community featuring 908 apartment homes and 55,499 square feet of retail and commercial space in the Las Colinas submarket of Irving, Texas. Charles Foschini, Christopher Apone, Shannon Wilson and Lourdes Carranza-Alvarez of Berkadia’s Miami office...

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Austin, San Jose Lead in Rebounding Multifamily Fundamentals

Apartment Buildings

Austin and San Jose top Apartments.com and CoStar’s latest U.S. Multifamily Momentum Index amid a period of diminishing supply pressures and stabilizing demand. The index highlights where conditions are gaining ground the fastest, based on year-over-year improvement in several measures, including rent growth, vacancy, the balance between demand and new supply, and changes in the...

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Miami-Dade County Sells Apartment Site for $10

Florida & Gulf Coast + Apartment Buildings

Cipres paid Miami-Dade County $10 for a lot, enabling them to build an 8-story affordable housing project in the Wynwood neighborhood. With land costs so high in Wynwood, an affordable housing project in the neighborhood wouldn’t pencil out, hence the nominal price. The S. Florida Business Journal reports the lot spans roughly 0.16 acres and...

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New Owner to Kickstart Stalled Kissimmee Hotel/Condo Project

Florida & Gulf Coast + Apartment Buildings

Unity Stone Group appears ready to take over a stalled hotel-condo project in Kissimmee. The Sycamore Orlando Resort property has changed hands a few times after the original developer declared bankruptcy in 2024. There are two incomplete towers on the site at 2961 Sycamore Resort Drive. Now Unity Stone Group is aiming for a fourth-quarter...

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Two Salisbury Non-Profit Developers to Helm Mill-to-Housing Conversion

Atlanta & Southeast + Apartment Buildings

Two non-profit housing developers have been greenlit by the city of Salisbury to convert a former textile mill into affordable housing units. The $46 million development at the former Kesler Mill site will consist of 153 apartment units at 423 Martin Luther King Ave. The project would repurpose the 13-acre Kesler Mill site at 423 N. Martin...

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Trilogy Scores Financing for Bartow County BTR Community

Atlanta & Southeast + Apartment Buildings

Trilogy Investment Company closed a $30.7 million construction loan from Genesis Capital for REV3 at Stars Way, a 122-unit build-to-rent townhome community in Emerson, Georgia. Civil construction is underway, and vertical construction is set to begin in late June. First home deliveries are anticipated in late 2026. Located northwest of Atlanta along the Interstate 75...

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