Walker & Dunlop arranged a $47.7 million acquisition loan to finance Mason Stuart, a Class A mid-rise style multifamily property located at 4585 SE Federal Hwy in Stuart, Florida.
The W&D Multifamily Finance team led by Craig West arranged a fixed-rate, interest-only loan on behalf of Raia Capital Management. Fannie Mae provided the capital. Waypoint Residential was the seller.
Mason Stuart is a 2023-vintage, 270-unit apartment community offering 1-bedroom, 2-bedroom and 3-bedroom units. Amenities include a pool, 24-hour fitness center with a yoga and spin room, an outdoor gathering pavilion, a fenced dog park and multi-purpose walking trails.
The property offers access to beaches, parks, shopping and major employment centers.
Walker & Dunlop’s Craig West added, “The property is strategically positioned to benefit from sustained rental demand and income growth within a rapidly expanding market characterized by limited supply.”
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
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Brightshore Capital LP, formerly GTIS Partners, has acquired DŌMI, a newly constructed, 190-unit luxury multifamily property located at 29-24 40th Ave. in Long Island City, for slightly more than $143 million. The acquisition through Brightshore’s Opportunity Zone Fund II was financed with a $98.5-million loan from Affinius Capital. The seller was a joint venture of...
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Harrison Street Asset Management and Harbert Management Corporation’s South Bay investment team have announced a joint venture to develop two senior housing communities in Pasadena, California and Potomac, Maryland. The Palmer in Pasadena and The Belle Mare in Potomac are designed to add 80 and 94 units to their respective communities. Together with projects already under...
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Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
California