News
Ares Pays $137.5M for Chandler Apartments
PB Bell and PCCP have sold Zaterra, a 392-unit multifamily property in Chandler. The asset traded for $137.5 million, or $350,765 per unit. IPA’s Steve Gebing and Cliff David represented the sellers and procured the buyer, Ares Management. Completed in 2023 on 22 acres, Zaterra is a two—and three-story, garden-style property with a low-density site...
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Gateway Jax Moving Ahead on Next Project
Gateway Jax will break ground on 425 Beaver Street, its second project in Pearl Square. The mixed-use building, previously known as Block N4, will feature 286 multifamily units, on-site parking, and nearly 20,000 square feet of retail space. It is anticipated to be delivered in 2027. Gateway Jax was created by partners JWB Real Estate Capital...
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PearlX, Cal Solar Partner on Installation at Murrieta Complex
PearlX, an energy infrastructure and capital partner to multifamily owners and developers, and Cal Solar Inc., California’s largest multifamily new construction solar financier, developer and design/builder, have partnered on a $4.5-million solar power and battery system for the first phase of a new 451-unit multifamily project under construction in Murrieta. In conjunction with Cal Solar,...
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Greystone Provides $80M Bridge Loan to Refi Roselle Park Apartments
Greystone has provided an $80,000,000 bridge loan to refinance Meridia Roselle Park 10, a multifamily property in the Union County community of Roselle Park, NJ. The financing was originated by Drew Fletcher and Miryam Reinitz-Kops of Greystone on behalf of Capodagli Property Company. The Greystone bridge loan includes a two-year term at a floating rate and has full-term interest-only. “It’s rewarding to support Capodagli’s...
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Procopio Begins Move-Ins at Beverly Mixed-Use
The Procopio Companies said Amara, its newest mixed-use community in downtown Beverly, MA, has received its Certificate of Occupancy. Residents have officially begun moving in, and leasing is now underway. Located at the convergence of Cabot and Rantoul Streets, two of the North Shore’s most prominent main streets, Amara brings 60 market-rate, Class A studio,...
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Red Oak Capital Holdings Provides Refi for OKC Multifamily Asset
Red Oak Capital Holdings, LLC, has provided a $5.75-million bridge loan for the Penn Grand Apartments, a 105-unit garden-style community located in Downtown Oklahoma City. The financing, originated under Red Oak’s Opportunistic Bridge Loan Program, will allow the sponsor to retire the existing debt and complete capital improvements on the remaining units impacted by a...
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Chicago Apartment Developer Buys Fulton Market Building
A local apartment developer has purchased a potential redevelopment site in Chicago’s Fulton Market District, buying the property at a discounted price. A venture of Chicago-based Cedar Street paid $6.5 million last week for a pair of vacant connected buildings totaling nearly 36,000 square feet at 1332 and 1338 W. Lake St., reported Crain’s. The...
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Hamilton Point Adds to Growing Houston Apartment Portfolio
Hamilton Point Investments has purchased Fidelis Westlake, its fifth investment in Houston’s multifamily market and 12th in the state of Texas. Commercial Edge reports the 278-unit luxury community was sold by Fidelis Realty Partners, with Key Bank originating the $29.4 million acquisition loan. Fidelis Westlake was delivered in 2023 at 12211 Summer Creek Trace Drive, on...
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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