POOLER, GA. — Mandrake Capital Partners has obtained a $34.5 million refinancing loan for Easthaven, a 143-unit build-to-rent community in Pooler that was completed last year. Bridge Investment Group was the lender, and JLL’s Michael Zaremski and Clayton Ross arranged the financing. Easthaven’s three-bedroom townhomes are complemented by a pool, fitness center, dog park, playground and walking trails.
GAITHERSBURG, MD. — RailField Partners has acquired Elme Watkins Mill, a 210-unit garden-style community in the Washington, D.C., suburb of Gaithersburg, from Elme Communities (NYSE: ELME). The property was purchased by RailField’s RG Value Add Fund, a joint venture with GCM Grosvenor (Nasdaq: GCMG), whose real estate business encompasses about $7 billion across 2,200 properties. The transaction comes as Elme Communities continues to wind down its portfolio under a shareholder-approved plan of sale and liquidation. Elme Watkins Mill was among the remaining assets. The REIT has announced it will sell …
JERSEY CITY, N.J. — Walker & Dunlop has arranged a $375 million construction loan to finance JFK Boulevard, a mixed-use project that will be built in Journal Square in Jersey City. The developer is Nasser Freres. The lender was Madison Realty Capital. The project includes 840 residences, including studios, one-, two- and three-bedroom units. Eighty-four units will be designated as affordable housing. Rent restrictions have not yet been disclosed. The development will also feature approximately 50,000 square feet of retail space anchored by a national organic grocer. An additional 36,522 square …
LIVERMORE, CALIF. — Locally based Virtu Investments has sold Briarwood Apartments in Livermore, 44 miles west of San Francisco. The asset sold for $19.8 million. Marcus & Millichap represented Virtu, arranged a $13.3 million acquisition loan and procured the unnamed buyer. The transaction was one in a three-property portfolio trade. Briarwood Apartments is comprised of 64 units and was built in 1961.
SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters …
KENOSHA, WIS. — CBRE has arranged the $7.1 million sale of Bayside Townhomes, a 32-unit community in Kenosha. Campbell Creek Communities LLC was the buyer, and Bayside Townhomes LLC was the seller. CBRE’s Matson Holbrook, Gretchen Richards and Sean Beuche represented the seller in the transaction. Bayside Townhomes is located at 1523 Sheridan Road. The property features three-bedroom floor plans averaging 1,500 square feet. Unit amenities include private entrances, attached garages, patios and balconies and in-unit washers and dryers. The property was 100 percent occupied at the time of sale. …
SAVANNAH, GA. — RREAF Holdings, a Dallas-based investment and development firm, has acquired The Palms at Chatham located at 5110 Garrard Ave. in Savannah’s Garden City/Midtown submarket. The seller was Miami-based One Real Estate Investment. Newmark arranged the sale. Built in 2003, The Palms at Chatham is comprised of 300 units in one-, two- and three-bedroom floor plans averaging approximately 1,005 square feet. Amenities include a resort-style pool, clubhouse, 24-hour fitness center, dedicated yoga room, fenced dog park and outdoor barbecue and picnic areas. The property will be managed by …
FORT WORTH, TEXAS — Franklin Street has brokered the sale of The Reserve on Willow Lake, a 138-unit property at 4101 South Hulen St. in Fort Worth. Santa Barbara, California-based The Paskin Group was the seller, who had held the property for about 10 years. The buyer was Dallas-based Willowood Group. The asset was built in 1996. Chibuzor Nnaji served as lead broker for Franklin Street, assisted by Tyler Bynum and Jack Williams. The property is comprised of two- and three-bedroom apartments and townhomes and amenities such as a fitness …
PUYALLUP, WASH. — Great Expectations, a Seattle-based affordable housing developer, has secured financing to build Addison Grove, a 102-unit affordable housing community in Puyallup, 36 miles south of Seattle. Great Expectations acquired the site in April. A construction timeline has not been disclosed. All units will be rent restricted at 50 and 80 percent of area median income, guaranteed for 60 years. According to the Washington State Housing Finance Commission, the project cost is approximately $34.2 million. Addison Grove was financed without tax credits, instead leveraging a subordinate loan from …
CHARLOTTE, N.C. — Multifamily investment and development firm Quarterra has hired Jordan Calaguire as chief investment officer. Calaguire will lead Quarterra’s overall investment strategy, capital formation and allocation activities, investor relations and portfolio performance. Prior to joining Quarterra, Calaguire worked as chief investment and development officer at Kasa Inc., a New York based hospitality company. He also was previously a principal at Walton Street Capital, a private equity real estate investment firm based in Chicago.
