News

Marcus & Millichap Brokers Sale of 160-Unit Multifamily Property in Wisconsin

Chicago & Midwest + Apartment Buildings

Marcus & Millichap announced the sale of Orchard Courts Apartments, a 160-unit multifamily property in Kenosha, Wisconsin. “Orchard Courts Apartments attracted strong investor interest due to its combination of stable operations, recent capital improvements and future development potential,” said Jake Lenti, associate director of investments. “The property includes approximately 20 acres of developable land adjacent...

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Slatt Capital Arranges $27M Construction Loan for San Gabriel Mixed-Use

California & West + Apartment Buildings

Slatt Capital arranged a $26,863,000 construction bridge financing for a 136,991-square-foot multi-tenant, mixed-use development located at 300 E Valley Blvd. in San Gabriel. The non-recourse loan features a two-year interest-only term and was structured as bridge debt financing. Slatt VP Jason Wang led the transaction, with Richard Davidson serving as co-producer. The financing was secured...

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Fairstead Plans Major Rehabilitation of Kentucky Housing Community

Chicago & Midwest

Fairstead announced plans to rehabilitate Malabu Manor, an 80-unit affordable housing community located in Lexington, Kentucky, serving seniors and residents with disabilities. The rehabilitation is financed through 9% Low-Income Housing Tax Credits provided by the Kentucky Housing Corporation. The project is also supported by a $750,000 Green and Resilient Retrofit Program Elements grant from the...

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Arrow Real Estate Advisors Arranges $70M for Delaware MF Development

Washington DC + Apartment Buildings

Arrow Real Estate Advisors arranged a $70.25 million loan on behalf of The Buccini Pollin Group for The Press, a newly delivered luxury multifamily property located at 801 N Orange Street in Downtown Wilmington, Delaware. The financing was arranged by Arrow’s Morris Betesh, Founder and Managing Partner, and Alex Bailkin, Senior Vice President, and provided...

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Core Spaces Plans 3,500 Student Housing Beds Near University of Illinois Urbana-Champaign

Chicago & Midwest + Student Housing

Core Spaces plans to significantly expand its presence near the University of Illinois Urbana-Champaign with three new purpose-built student housing developments. Together, the projects will deliver more than 3,500 beds between 2028 and 2031. The expansion builds on Core’s footprint in Champaign. Core first entered the market in 2020 with the development of Hub Champaign,...

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Camelback Office-to-Apartment Conversion Nearly Complete

Phoenix & Southwest + Apartment Buildings

The transformation of the 11-story One Camelback is nearly finished. The Phoenix Business Journal reports the glass tower is now more than 90% completed and expects to open in September. Kinella Capital acquired the former BMO bank building for $36 million after the original developer defaulted on the loan. The 163-unit complex will have a 150-foot...

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FIFA World Cup’s STR, Hotel Bookings Fall Short of Predictions

Canada + Apartment Buildings

Short-term rental hosts and hotels in Vancouver and Toronto are reporting lower-than-expected bookings ahead of soccer’s FIFA men’s World Cup, despite earlier expectations that the tournament would trigger a surge in accommodation demand, The Globe and Mail reported. Some Airbnb hosts in both cities say reservations have failed to materialize even as tournament dates approach,...

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Skyline, Solmar Break Ground on 1,290 Apartment Project in Brampton

Canada + Apartment Buildings

Skyline and Solmar have broken ground on the Rose Towers, a new purpose-built rental community in Brampton, Ont., that will add 1,290 rental suites to the Toronto suburb’s housing supply. Located at 241 Queen Street East, the Rose Towers development will include four high-rise apartment buildings ranging from 26 to 30 storeys, with ground-floor retail...

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