News
Merchants Capital Secures $98M for VA Affordable Development
Leading financial services provider Merchants Capital announced $97.8 million in financing for the rehabilitation of Stuart Gardens, a 491-unit, two-phased affordable multifamily property in Newport News, Virginia. developed by Vitus Group. Merchants Capital secured $62.8 million in U.S. Department of Housing and Urban Development (HUD) 221(d)(4) permanent financing and $35 million in equity bridge loans...
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Colliers Brokers $18M Sale of 88-Unit Multifamily in Seattle’s Roosevelt Neighborhood
Colliers announced the $17.5 million sale of 6700 Roosevelt, an 88-unit multifamily community directly across from the Roosevelt light rail station in Seattle’s Roosevelt neighborhood. Coverse Capital Investments acquired the property from 6700 Roosevelt LLC. Sam Wayne, senior vice president, and associates Dylan Luxenberg and Reed Gustavsen of Colliers, represented the seller and procured the...
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Essex Realty Group Closes Sale of $17M Suburban Chicago Apartments
Essex Realty Group announced the sale of Parkside Apartments, a 120-unit multifamily property located in Glen Ellyn, Illinois. Constructed in 1963, the property represents an institutional-scale investment in the highly sought-after DuPage County rental market. Essex Realty Group Principal Brian Karmowski and Director Anthony Citriglia represented both the seller, Iman Jalali of Bear Peak Capital,...
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BKREA Tapped to Sell Fully Entitled, Large-Scale Bronx Site
Himmel + Meringoff Properties and Affinius Capital have selected BKREA to sell 1601 Bronxdale Ave., a fully entitled, large-scale Bronx development site planned as a mixed-use hub with thousands of new homes and direct pedestrian access to the forthcoming Parkchester/Van Nest Metro-North station. The planned layout provides 2.42 million square feet across six buildings around...
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Toll Brothers City Living Assembles Parcels for West Chelsea Development
Adirondack Capital Partners (ACP) closed the $45-million sale of 126/128 Tenth Ave. and 456 W. 18th St. to Toll Brothers City Living. The acquisition forms part of a broader West Chelsea development assemblage anchored by 118 Tenth Ave., which ACP previously sold to Toll Brothers for $53 million. The $721/ZFA price of the combined assemblage represents...
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$185M Federal Loan Backs 474-Unit Toronto Rental Tower
Osmington Gerofsky Development and WJ Properties have formally broken ground on a 474-unit rental tower in Toronto’s Flemingdon Park neighbourhood, advancing the first phase of a larger redevelopment backed by $185M in federal construction financing. The groundbreaking, announced Oct. 1, marks a milestone for the property at 9 St. Dennis Dr., which the Weinbaum family...
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Interstate Equities Pays $84M for Hercules Multifamily
JLL Capital Markets arranged the $83.5-million sale and $54.275-million financing of The Dylan, a 232-unit apartment community in Hercules. JLL represented the seller, Hercules Development Partners, in the sale to Interstate Equities Corporation and arranged a five-year acquisition loan through Freddie Mac. Senior managing directors Ryan Wagner, Brandon Geraldo and Matt Kroger and director Fatai...
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ORIX Buys 322-Unit Austin Apartment Community
ORIX Corp. USA has purchased Strata, a 322-unit luxury asset in Austin, Texas, from Maverick Development Group. In addition, Multi-Housing New reports Franklin BSP Realty Trust issued a $42 million acquisition loan set to mature in 2031. Strata is part of a six-phase project set to include more than 2,000 units. ORIX’s new community comprises...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout