News

Cityview, Stockbridge Wrap Construction on Apartments in LA’s South Bay

California & West + Apartment Buildings

Cityview and Stockbridge have completed Apollo, a 265-unit multifamily community located at 12888 Crenshaw Blvd. in Gardena, within Los Angeles’ South Bay. Now leasing, Apollo is located in a rapidly growing area of the South Bay near major aerospace, automotive and tech employers, including SpaceX, the Tesla Design Center and Ring, and within five miles of...

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Developers Score Financing for Frisco Mixed-Income Apartments

Texas + Apartment Buildings

Stryker Properties and Griffon Capital Management teamed up to secure a $57 million construction loan for the development of Fremont Frisco Apartments, a 313-unit residential project in Frisco. Delivery is scheduled for mid-2028. Multi-Housing News reports BridgeInvest provided the construction loan, with preferred equity coming from 25 Capital Partners. BBL Building Co. is the development’s...

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Mark IV Closes on $86M Construction Loan for Round Rock Development

Texas + Apartment Buildings

Mark IV Capital closed on an $86 million construction loan to fund the initial phase of The District, a master-planned mixed-use development in Round Rock, Texas. The financing was led by BDT & MSD Partners, with participation from an affiliate of Apollo. Mark IV acquired the site from Dell Technologies in 2016 and has spent...

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Investor Team Secures $360M Financing for Jax Condo, Hotel Construction

Florida & Gulf Coast + Apartment Buildings

Shanna Collective and Iguana Investments secured $360 million in construction financing from the Goldman Sachs Private Bank for the development of Four Seasons Hotel and Residences Jacksonville. The joint venture claims it’s the largest financing package ever awarded in the city’s history for a private project. The capital will allow for the build-out of the...

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Charleston-Area Apartment Venture Trades to Continental

Atlanta & Southeast + Apartment Buildings

Continental Realty Corporation (CRC) added to its South Carolina multifamily portfolio with the acquisition of Elevate at Brighton Park, a property with 329 apartment homes located at 115 Great Lawn Drive in Summerville near Charleston. American Landmark, the seller, was represented by Newmark’s Alex Okulski. Delivered in 2019 and currently 94 percent leased, Elevate at...

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Tishman Speyer Acquires 244-Unit Raleigh Rental Community

Atlanta & Southeast + Apartment Buildings

Tishman Speyer acquired The Maggie, a 244-unit rental community in Raleigh, its first in the region. TA Realty was the seller. Multihousing News reports the firm bought it in 2022 from TriBridge Residential for $91.2 million, or $373,770 per unit. The property came online in 2014 at 401 Oberlin Road, on a 3-acre site. The...

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JLL Arranges Loan Facility for Brooklyn Portfolio Acquisition

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged $19 million in financing for the Edifice Portfolio, a collection of five recently rehabilitated multifamily properties located in Brooklyn. Managing director Jillian Mariutti and director John Flynn represented the borrower, Edifice Partners LLC, a woman-owned real estate development firm based in New York City, in securing a loan facility with City...

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First Phase of East Orange MXU Closes on $133M Recapitalization

New York & Tri-State + Apartment Buildings

Co-developers Triangle Equities and Incline Capital closed on the recapitalization of construction financing for the first phase of The Crossings at Brick Church Station, a mixed-use development located directly adjacent to NJ Transit’s historic Brick Church Train Station in East Orange, NJ. The recapitalization totals $133.5 million, led by a $115-million senior secured bridge loan from funds managed by...

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