Parallel Kicks Off 3rd Texas A&M Student Housing Venture
Parallel, in partnership with Kayne Anderson Real Estate, has closed on a construction loan and commenced construction of a student housing development at 250 Church Avenue in the heart of College Station’s Northgate district. BMO Bank has provided construction financing.
The new development marks the third community that Parallel will deliver to serve Texas A&M University.
Rising 23 stories above Northgate, the property will comprise 148 units across a mix of studio, 1-, 2-, 3-, 4-, and 5-bedroom floor plans, including townhome-style residences, offering a total of 500 beds. The development broke ground recently and will be completed in the summer of 2027.
The project’s development team includes Rhode Partners, A Royal Interiors, Mitchell & Morgan, RLG Consulting Engineers, and Roger’s O’Brien serving as the General Contractor. Design Build partners include Power Design Inc. and Kilgore Mechanical.
Other News
Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
Revere, MA Weighs 1,700-Unit Housing Project
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout