CHICAGO — Newcastle Investors has obtained a $45 million loan to refinance Reside on Barry, a 161-unit high-rise in the Lakeview neighborhood of Chicago. Kevin McCarthy of Northmarq’s Chicago office arranged the financing. The lender was PGIM. Newcastle, a Chicago-based investment firm, bought the asset in 2011 for $33.3 million in an all-cash deal. Reside on Barry is a 17-story, 1970-vintage apartment community offering renovated one-, two- and three-bedroom residences.
NEW YORK CITY — Slate Property Group and Avenue Realty Capital have partnered to acquire 45 White Street, a seven-story multifamily building in Manhattan’s Tribeca neighborhood. Benchmark Real Estate Group, represented by JLL, sold the asset for $32 million. Financing was provided by lender White Oak Real Estate Capital. The 16-unit building was originally constructed in 1868 as a commercial office building before being converted to residential use in 2009. The property is part of the Tribeca East Historic District and features a cast iron façade as well as two …
HIALEAH, FLA. — Coldwell Banker Commercial Realty has arranged the $21.2 million sale of a 74-unit property at 1350 W. 46th St. in Hialeah. Coldwell Banker’s Alex Lizama represented the seller, Royal Income Properties, in the deal. The buyer was a private investment group requesting anonymity. Built in 1972, the property spans approximately 44,940 square feet. The one- and two-bedroom units are complemented by amenities that include a pool and controlled access.
SARASOTA, FLA. — Indianapolis-based owner-developer Milhaus has closed on a construction loan and land sale and has broken ground on Tallevast, a 231-unit project in Sarasota. BMO provided construction financing, Marble Capital is an equity partner, and FaverGray is serving as general contractor. Completion is slated for November 2027. Located at 2750 Tallevast Road, the property is about three miles east of Sarasota Bradenton International Airport. The community will be comprised of five three-story garden-style buildings that will house studio to three-bedroom apartments ranging from 617 to 1,357 square feet. …
GLENDALE, ARIZ. — TerraCap Management has acquired Tresa at Arrowhead Apartments in Glendale from Hamilton Zanze, which has held the 360-unit property since 2016. Situated on 19 acres at 17722 N. 79th Ave., Tresa at Arrowhead features one-, two- and three-bedroom units ranging from 638 to 1,353 square feet. Originally built in 1998, the property is 24 miles northwest of Phoenix and adjacent to Arrowhead Town Center. Amenities at the gated community include an outdoor pool with a hot tub, grilling and picnic areas, a clubhouse, game room, dog park …
WELLFORD, S.C. — Northmarq has arranged the $41 million refinancing of Evolve New Hope Farm, a 280-unit property in Wellford owned by Greensboro, North Carolina-based Evolve Cos. BlackRock was the lender. Northmarq’s West Palm Beach debt and equity team was led by Chris Hammel. Built in 2024, Evolve New Hope Farm features one-, two- and three-bedroom units and amenities such as a clubhouse, a resort-style pool, pickle ball court, a community garden, outdoor kitchens, walking trails and a lake, electric vehicle charging stations, a fitness center with yoga and cycling …
BEAVERTON, ORE. — A joint venture consisting of Glencrest Group and Sky Alps Capital has acquired Cedar Square Apartments in Beaverton, about 9 miles west of Portland, Oregon. An unnamed local investor sold the 155-unit, garden-style asset for approximately $29.9 million. JLL Capital Market’s investment sales team was led by Ira Virden, Carrie Kahn and Owen Wise. JLL’s Debt Advisory team, which arranged an acquisition loan, was headed up by Charles Halladay and Jonah Aelyon. Cedar Square was built in 1980 with additions completed in 2016 and 2024. The property …
LAS VEGAS — Locally based Stout Management Co. has been selected as property manager for Mezzo Apartments located at 3770 University Center Drive in Las Vegas. The community is made up of studio and one-bedroom units with hardwood laminate flooring and stainless steel appliances. Wi-Fi and cable are included with rent. Community amenities include a gated entry, a pool, fitness center, dog park and on-site maintenance services. As property manager, Stout Management Co. will oversee day-to-day operations, resident services and long-term asset management. According to Yari Matrix, the 455-unit community …
FORT COLLINS, COLO. — Berkadia has arranged the $40.8 million sale of Enclave Rigden Farm, a 105-unit rental townhome community in Fort Collins. Berkadia’s Denver-based team, led by Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster, represented the seller, Granite Capital Group, a Santa Barbara, California-based commercial real estate investment firm. Avanti Residential, a multifamily owner-operator based in Denver, was the buyer Located at 2758 Iowa Drive, the property was built in 2007 and features 105 townhomes with direct access to garages and private patios.
MONROE, N.C. — JLL Capital Markets has arranged $53.5 million in debt and equity for the construction of Skyview at Aria, a 338-unit development in Monroe, 27 miles southeast of Charlotte. South Carolina-based Aria Communities is the developer/borrower. The $42.7 million loan was secured through United Bank Inc. Parse Capital provided the preferred equity. Completion of the project, located on 22 acres at 3613 W. Highway 74, is slated for 2027 and will include a mix of one-, two- and three-bedroom units. Amenities will include a center courtyard with a …
