Thursday, February 20, 2025
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Channing Hamilton

The Greyson in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

TYKO Capital Provides $245 Million Construction Loan for Jersey City High-Rise Project

by Channing Hamilton

JERSEY CITY, N.J. — TYKO Capital has provided $245 million in construction financing for The Greyson, a 622-unit mixed-use community in Jersey City’s Journal Square neighborhood. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, Nasser Freres. Once completed in the first quarter of 2026, The Greyson will rise 28 stories. The building will house studio, one-, two- and three-bedroom apartments. Amenities will include a rooftop pool, fitness center, virtual reality and sports rooms and …

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ButterflyMX
FeaturesMidwestNortheastOperationsSoutheastTexasWestern

How Tech Upgrades are Expanding Access Control Solutions

by Channing Hamilton

Security is a top priority in the multifamily industry. Monitoring and controlling access to a property protects owners and their residents from the impacts of violent crime, theft, vandalism and trespassing. The benefits of an effective security, monitoring and access system run deep. “Access control is not just about security,” says Roger Solomon, a senior associate at Trio Advisory Group. The company offers consulting services on access control, video surveillance and other technologies for commercial real estate properties. “Access control is also about ensuring convenience for residents and staff, enhancing …

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FinanceInvestment SalesMarket ReportsNew JerseyNortheast

Investors, Take Note of New Jersey’s Millennial, Commuter Renter Demand

by Channing Hamilton

The New Jersey multifamily market continues to outperform across a variety of metrics. The state’s high population density combined with its proximity to major metropolitan areas like New York City and Philadelphia have bolstered demand for rental units, particularly among young professionals and commuters.  In addition to these factors, the region exhibits strong demographics that support the growth and stability of the multifamily market. This is in part due to the regional proximity to some of the country’s best universities, making New Jersey residents exceptionally well-educated.  Only three states have …

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Mission Gorge in San Diego, California
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Impact Housing, Verbena Road Holdings Secure $112.2 Million Construction Financing for Affordable Housing Project in San Diego, California

by Channing Hamilton

SAN DIEGO, CALIF. — Impact Housing and Verbena Road Holdings have secured $112.225 million in financing for the construction of Mission Gorge, a 483-unit affordable housing development located at 6171 Mission Gorge Road, roughly 8 miles north of downtown San Diego.  Charles Halladay, Joseph Choi and Will Bond of JLL Capital Markets worked on behalf of the borrower to secure an $85.225 million, three-year, floating rate senior construction loan through ACORE CAPITAL. JLL also arranged $27 million in preferred equity with Ascendant Capital Partners. Mission Gorge will feature a mix …

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Build-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Taylor Morrison Acquires Build-to-Rent Development Site in Apollo Beach, Florida

by Channing Hamilton

APOLLO BEACH, FLA. — Scottsdale, Arizona-based Taylor Morrison has purchased a 25.7-acre development site located within the 2,734-acre Waterset master-planned community in Apollo Beach, roughly 18 miles south of Tampa, Florida. Matt Mitchell and Chris Burtner of Berkadia North and Central Florida arranged the deal on behalf of the seller, Brookfield Residential, which is based in Costa Mesa, California. Taylor Morrison plans to develop a build-to-rent (BTR) community on the site. The asset will feature a mix of one-, two- and three-bedroom single-family rental units, with each residence including a …

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505 State Street in New York City
FinanceNew YorkNewsNortheast

Alloy Development Receives $290 Million Recapitalization for Brooklyn Residential Tower

by Channing Hamilton

NEW YORK CITY — Alloy Development has secured a $290 million recapitalization financing for 505 State Street, a 440-unit high-rise property in downtown Brooklyn. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL Capital Markets worked on behalf of the borrower in arranging the five-year, fixed-rate senior loan through New York Life. Completed in 2024, 505 State Street comprises 318,589 rentable square feet. The property offers studio, one-, two- and three-bedroom floor plans. The average unit size is 659 square feet. Amenities include a fitness center, yoga studio, pool, communal …

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Build-to-RentConference CoverageFeaturesGeorgiaOperationsSoutheast

Stickiness of Renter Sets Build-to-Rent Sector Apart from Traditional Multifamily, Says InterFace Panel

by Channing Hamilton

ATLANTA — When considering a single-family, build-to-rent (BTR) development or acquisition, the main priority of the developer or investor is to focus on finding a place where people want to live, said Zach Persky, vice president of acquisitions for Quinn Residences. Access to jobs, retail corridors and good school districts are all important factors for potential residents. Persky was one of the speakers on the BTR panel at the 15th annual InterFace Multifamily Southeast conference, which took place Wednesday, Dec. 4 at the Cobb Galleria Centre in Atlanta. Kyle Palmer, …

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The Place at Castle Hills in San Antonio
Investment SalesNewsTexas

Harvest Equities Acquires 680-Unit The Place at Castle Hills in San Antonio

by Channing Hamilton

SAN ANTONIO — Philadelphia-based Harvest Equities has purchased The Place at Castle Hills, a 680-unit community in San Antonio. MC Cos. sold the asset for an undisclosed price. Built on 23 acres in 1984, The Place at Castle Hills offers one- and two-bedroom units with an average size of 687 square feet. Amenities include three pools, a business center and a resident clubhouse. Drew Garza, Will Balthrope and Ben Kalter of Institutional Property Advisors, a division of Marcus & Millichap, negotiated the deal.

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900 Morrissey Blvd. in Boston
Affordable HousingDevelopmentFinanceMassachusettsNewsNortheast

The Community Builders Secures Financing for Affordable Housing Redevelopment in Boston

by Channing Hamilton

BOSTON — The Community Builders has received an undisclosed amount of financing for an affordable housing redevelopment project in Boston. The project will convert the former Comfort Inn at 900 Morrissey Blvd. in the Dorchester area into a 99-unit complex that is designed to support individuals previously experiencing homelessness. Units will be reserved for households earning 30 percent or less of the area median income. The property will include office and community spaces on the ground floor. The development is slated for completion in mid-summer 2025. MassHousing provided the financing. …

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The Hamilton in Miami
FloridaInvestment SalesNewsSoutheast

Kushner Cos. Acquires The Hamilton in Miami for $190 Million

by Channing Hamilton

MIAMI — Kushner Cos. has acquired The Hamilton, a 276-unit community in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the asset for $190 million. Located at 555 N.E. 34th St., the property is situated less than three miles north of downtown Miami and five miles from the city’s Brickell financial district.  Originally built in 1984, The Hamilton offers one-, two-, three-, four- and five-bedroom units. The average apartment size is 1,373 square feet. Each unit includes a terrace, which average 326 square feet, with some larger …

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