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Town Lane Picks Up Two Gulf Coast Senior Housing Centers

Florida & Gulf Coast

Town Lane acquired two Class A Independent Living communities in Naples and Sarasota. Each is co-located on campuses with Assisted Living / Memory Care facilities (AL/MC). Both communities, comprising 373 units in total, were recently built, with Naples opening in 2020 and Sarasota opening in 2022. The Naples and Sarasota properties are supported by favorable...

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Castlepoint Numa, Partners Aim to Develop Four-Tower Multi-Res Project in Toronto’s Distillery District

Canada + Apartment Buildings

A new joint-venture known as 3C Lakeshore plans to develop a new four-tower multi-residential project in Toronto’s Distillery district. The JV comprises Castlepoint Numa, Continental Ventures Realty and Cityzen Group, who have filed a development application with the city. The proposed development site encompasses 324 Cherry Street and 429 Lake Shore Boulevard East. The four...

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Davis Begins Pre-leasing on Central Harlem Rentals

New York & Tri-State + Apartment Buildings

The Davis Companies in partnership with Eloise Capital has begun pre-leasing 1975 Madison, a new eight-story residential building in Central Harlem. Designed by DXA Studio and constructed by Broadway Construction Group, the fully electric building features 97 one- and two-bedroom units. The building’s location provides convenient access to numerous public transportation options, including the Metro-North Railroad and 2/3/4/5/6 subway...

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Blackstone Provides $515M Refi for Kushner Mixed-Use in Jersey City

New York & Tri-State + Apartment Buildings

Newmark arranged a $515-million loan on behalf of Kushner Companies for the refinancing of the first phase of The Journal, a newly built 966-unit luxury multifamily building located in Jersey City. The firm’s Jordan Roeschlaub, Nick Scribani and John Caraviello secured the financing from Blackstone. The property totals 1.4 million square feet across a 63-story glass residential tower and...

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WinnCompanies Breaks Ground on First Phase of McCormack Redevelopment

Boston & New England + Apartment Buildings

City, state and federal officials joined residents of the Mary Ellen McCormack public housing complex in South Boston to mark the start of WinnCompanies’ redevelopment of the historic community. Ground was broken on the first phase of construction for the 3,300-unit mixed-income and mixed-use project. Known as Building A, the 112,000-square-foot structure will provide 94...

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CEQA Reform Was a Long Time Coming 

California & West + Apartment Buildings

Signed into law by then-Gov. Ronald Reagan in 1970, the California Environmental Quality Act (CEQA) has required that state and local governments assess and then make public the likely environmental effects of their decisions. In particular, that requirement has impacted the speed of approvals for residential and commercial development—which is to say that CEQA has...

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IPA Capital Markets Secures $61M Financing for San Mateo Mixed-Use

California & West + Apartment Buildings

IPA Capital Markets, a division of Marcus & Millichap, has secured $61 million in financing for the construction of Arbello, a mixed-use multifamily and office property located at 477 9th Ave. in San Mateo. Brandon Roth, managing director in IPA Capital Markets’ Palo Alto office, advised and marketed the financing on behalf of The Martin Group...

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Berkadia Completes Sale of Luxury Apartments in DC’s West End

Washington DC + Apartment Buildings

Berkadia has arranged the sale and financing of WestEnd25, a 283-unit multifamily asset in Washington D.C.’s West End neighborhood. Senior Managing Director Brian Crivella and Managing Directors Bill Gribbin and Yalda Ghamarian of Berkadia DC Metro completed the sale on behalf of JBG Smith. JRK Property Holdings acquired the property for $186 million. Berkadia also...

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