News

Olnick Organization Refinances Harlem Apartments for $171M

New York & Tri-State + Apartment Buildings

Walker & Dunlop arranged $170.5 million in permanent financing to refinance Lenox Terrace, a multifamily community at 484 Malcolm X Blvd. in Harlem. A Walker & Dunlop Capital Markets Institutional Advisory team led by Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno and Cody Ela arranged the balance sheet financing...

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Massachusetts Awards $330M to Spur Housing, Economic Development Projects

Boston & New England + Apartment Buildings

Massachusetts Gov. Maura Healey announced $330 million for 403 local economic development and housing projects in 207 communities across the commonwealth through the Community One Stop for Growth. The awards will support more than 27,000 new homes, more than 13,000 permanent jobs, and more than seven million square feet of new commercial development, while helping...

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BST Buys 122-Unit Toronto Rental Building As Platform Grows To 609 Units

Canada + Apartment Buildings

BST Canada has added a lakefront-adjacent Toronto apartment building to a multifamily buying program that has quickly grown to more than 600 units. The company said Thursday it acquired the 122-unit building at 30 Springhurst Ave. in South Parkdale, steps from Lake Ontario and Exhibition Place. BST did not disclose the purchase price. The 12-storey...

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Weeks After Acquisition, Westrich Floats Two 50-Storey Edmonton Towers

Canada + Apartment Buildings

Westrich Pacific is putting more shape around its redevelopment of Edmonton City Centre, floating two 50-storey residential towers as part of a broader plan to turn the struggling downtown mall into a mixed-use district. Co-CEO Richie Lam said this week the developer is considering affordable housing, an indoor patio, a grocery store or food hall...

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Marcus & Millichap Arranges Sale of Northeast DC Multifamily Property

Washington DC + Apartment Buildings

Marcus & Millichap announced the sale of 6145-6149 Kansas Ave. NE in Washington, D.C.’s Riggs Park neighborhood. The asset sold for $1.3 million. “Multifamily rental properties are in short supply in this pocket of the Manor Park and Brightwood submarket, making this a rare investment opportunity,” said John Slowinski, associate director of investments in Marcus...

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Report: Chicago is America’s Most Competitive Rental Market

Chicago & Midwest + Apartment Buildings

Chicago has overtaken Miami as the most competitive rental market in the country, with about 17 renters lining up for every available apartment and vacant apartments filling in 27 days, the fastest of any large market, according to a recent report by RentCafe. Chicago is the most competitive large rental market in the country, with...

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Fields West Rental Community Reveals Open Date

Texas + Apartment Buildings

A residential component of Frisco’s Fields West development is taking shape, with leasing now underway for the first phase of The Wentwood at Fields West. Units at The Wentwood are expected to be ready for move-in in January. Additional phases are scheduled to open throughout 2027 and into 2028. The community’s amenity package includes three...

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Trader Joe’s, Senior Living Facility Advancing in Frisco

Texas

The Frisco planning board okayed a Trader Joe ’s-anchored mixed-use project, and next week the town council will vote on the plan. Community Impact reports the proposed development would include a 12,500-square-foot Trader Joe’s and a 158-unit senior living facility, along with other mixed-use elements. It would be located at the southwest corner of Majestic...

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