News

Berkadia Student Housing Transacts on 11K Beds in Q1

Student Housing

Berkadia announced that its Student Housing platform had a successful first quarter with significant transaction activity nationwide. The platform transacted on a total of 11,094 beds, showcasing robust investment sales and mortgage banking activity in the sector. The investment sales arm, led by senior managing directors Kevin Larimer and Brandon Buell transacted on 4,275 beds...

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Northmarq Secures $52M Loan for Apartments Near Kansas City

Chicago & Midwest + Apartment Buildings

Northmarq’s Kansas City office has arranged a $52 million permanent loan to refinance Stonebriar Woods, a 476-unit multifamily community located in the heart of Overland Park, Kansas. The Freddie Mac loan was secured by Greg Duvall, managing director at Northmarq, on behalf of the borrower, Price Brothers, a Kansas City-based real estate investment and development...

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Essex Capital Markets Arranges Refi for Pilsen Multifamily

Chicago & Midwest + Apartment Buildings

Essex Capital Markets has completed the refinancing of a six-unit multifamily property located at 2216 West 21st Place in Chicago’s Pilsen neighborhood. The loan was arranged on behalf of a local private investor by Essex Capital Markets Analyst Quinn Keenan. This property features a mix of six two-bedroom/one-bath apartments. In 2023, the property underwent a...

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Joint Venture Buys MD Luxury Apartment Building for $95M

Washington DC + Apartment Buildings

29th Street Capital (29C) and Willton Investment Management have closed on the acquisition of Fenwick Apartments, a 311-unit multifamily community in downtown Silver Spring, Maryland. Built in 2014 and currently 96.8% occupied, Fenwick represents a high-quality, institutionally owned asset in an affluent submarket in the Washington, D.C. metro area. Located just three blocks from the...

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Tredway Acquires Far Rockaway Affordable for $88M

New York & Tri-State + Apartment Buildings

Tredway, an affordable and mixed-income real estate developer, completed the $88-million acquisition of Ocean Park Apartments, a 602-unit property located at 125 Beach 17th St. in the Far Rockaway section of Queens. The acquisition was financed with a loan from Merchants Bank coordinated by Michael Milazzo and Mathew Wambua. The sale was brokered by Victor Sozio...

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MMCC Arranges Acquisition Loan for Oakland Apartments

California & West + Apartment Buildings

Marcus & Millichap Capital Corporation (MMCC) arranged $3,530,000 in financing for the acquisition of The Lenox Lake Apartments, a 32-unit multifamily property located at 301 Lenox Ave. in Oakland’s Adams Point neighborhood. Terms of the 15-year loan include a 5.9% interest rate fixed for the first five years, with a 30-year amortization period and 60%...

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Berkadia Secures $129M Refi for Fairfax Workforce Housing

Washington DC + Apartment Buildings

Berkadia has closed the refinancing of Amberleigh Apartments, a 752-unit garden-style multifamily community in Fairfax, Virginia. On behalf of the sponsor, Redbrick LMD, Berkadia DC Metro secured a $129.4 million financing package, consisting of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed provider. Located in the Merrifield...

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Hunt Capital Transfers LP Interest in Two Boston Affordable Properties to Nonprofits

Boston & New England + Apartment Buildings

Hunt Capital Partners has transferred its limited partner interest in two affordable housing communities in Boston—Dudley Village South and Adams Court—to its nonprofit partners, Dorchester Bay Economic Development Corporation and Nuestra Comunidad Development Corporation, respectively. Totaling 121 units, the transfers enhance flexibility in managing the assets and help preserve the stock of affordable housing in...

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