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The-Adeline-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Related Midwest Breaks Ground on $220M Affordable Housing Redevelopment in Ann Arbor, Michigan

by Lynn Peisner

ANN ARBOR, MICH. — Related Midwest, the Chicago office of Related Cos., and the Ann Arbor Housing Commission have broken ground on The Adeline, a 20-story, 330-unit affordable housing community in downtown Ann Arbor. The project cost was listed as $220 million when digital news group MLive reported the city’s approval of the development in October 2025. Most units are reserved for households earning up to 80 percent of area median income (AMI). About one-third of the apartments will be reserved for households earning 30 percent or less of AMI. …

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City-Walk-at-Woodbury-Minnesota
Investment SalesMidwestMinnesotaNews

Waterton Buys City Walk at Woodbury in Twin Cities Metro

by Lynn Peisner

WOODBURY, MINN. — Chicago-based Waterton has acquired City Walk at Woodbury, a 453-unit property in the Twin Cities suburb of Woodbury. The seller and sales price were not disclosed. The community comprises two four-story residential buildings, heated indoor parking garages, a clubhouse and 34,000 square feet of retail space. City Walk at Woodbury was built in phases in 2005 and 2011. Waterton is planning capital improvement projects targeting units, hallways and common areas. The one-, two- and three-bedroom apartments are complemented by an indoor pool, a hot tub, sauna, game …

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The-Alexandria-Kansas-City
Affordable HousingDevelopmentFinanceMidwestMissouriNews

Joint Venture Team Secures $17.1M in Financing for Kansas City Affordable Housing Rehab

by Lynn Peisner

KANSAS CITY, MO. — Hunt Capital Partners, in partnership with Riverstone Platform Partners and Kansas City Metropolitan Lutheran Ministry (MLM), have secured $17.1 million in financing for the rehabilitation of The Alexandria, an affordable housing property at 1328 E. Armour Blvd. in Kansas City, Missouri. Riverstone Platform Partners will serve as lead developer, and MLM will serve as co-developer. The project encompasses 55 new units in two four-story buildings originally constructed separately in 1923 and later connected with a shared elevator and lobby system serving all four levels. The community …

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Dover-Run-Dover
FinanceNewsNortheastPennsylvania

Northmarq Arranges $19.1M Refinancing for Dover Run Apartments in Pennsylvania

by Lynn Peisner

DOVER, PA. — Northmarq’s Philadelphia team, led by John Banas, Kris Wood, David Singer and Jeff Steigerwalt, has arranged a $19.1 million loan for the refinancing of Dover Run Apartments located at 2670 Springhouse Bend in Dover, about 51 miles north of Baltimore. Northmarq arranged the deal on behalf of the borrower, Boyd Wilson. The financing was secured through Freddie Mac’s Optigo platform. The transaction was structured on a five-year term with a 35-year amortization schedule. Built in 2019, Dover Run is a 154-unit, 13-building garden-style community with a mix …

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Ashford-Geneva
IllinoisInvestment SalesMidwestNews

Equus Capital Partners Buys 226-Unit Property in Geneva, Illinois

by Lynn Peisner

GENEVA, ILL. — Equus Capital Partners has acquired Ashford at Geneva, a 226-unit community in Geneva. The property was acquired on behalf of a joint venture with a U.S.-based public pension plan. Ashford was approximately 97 percent occupied at the time of acquisition and comprises one- and two-bedroom units averaging 962 square feet. Community amenities include a clubhouse, fitness center, pool, business center, outdoor gathering spaces, grilling areas and a dog park. The property will undergo an improvement program focused on apartment interiors, common areas and select exterior upgrades. Madison …

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Indigo-19-Virginia-Beach
Investment SalesNewsSoutheastVirginia

PXV Buys Indigo 19 in Virginia Beach

by Lynn Peisner

VIRGINIA BEACH, VA. — PXV Multifamily has acquired Indigo 19, a 196-unit community in Virginia Beach. PXV is backed by Houston-based BroadVail Capital Partners and aims to acquire $2 billion in multifamily assets over the next three years, according to the company. The seller and sales price were not disclosed. Indigo 19, built in 2013, was acquired in a joint venture with funds managed by Intercontinental Real Estate Corp. Amenities include a resort-style pool, two-story clubhouse, fitness center, business center and landscaped courtyards. PXV is planning updates, including new exterior …

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Pavilion-Village-Charlotte
Investment SalesNewsNorth CarolinaSoutheast

Hamilton Point Investments Acquires Pavilion Village in Charlotte for $56.8M

by Lynn Peisner

CHARLOTTE, N.C. — Chicago-based Pearlmark and Montana-based BCAP Properties have sold Pavilion Village, a 294-unit property in Northeast Charlotte to Hamilton Point Investments for approximately $56.8 million. JLL’s John Gavigan, John Mikels, Ben Bury, Chase Monroe and McCullough Campbell represented the seller. Pavilion Village was built in 2015 and is made up of one-, two- and three-bedroom units averaging 910 square feet. Amenities at the 26-acre property include a clubhouse, resort-style pool, fitness center, business center and a dog park. Parking is available in a mix of surface spaces and …

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University-Gardens-Riverside
CaliforniaInvestment SalesNewsWestern

Kidder Mathews Brokers $21.8M, Two-Property Inland Empire Sale

by Lynn Peisner

RIVERSIDE, CALIF. — Kidder Mathews has arranged the $21.8 million sale of two adjacent properties totaling 113 units in Riverside. Neither buyer nor seller was identified. The transaction included University Gardens, a 25-unit property at 1480 Seventh St., and Normandy Apartments, an 88-unit complex at 3681–3725 Cranford Ave. comprising two side-by-side, 44-unit buildings. Both properties feature pools. Jon Mitchell, based at Kidder Mathews’ Orange County office, represented the seller.

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Arbor-South-Ann-Arbor
Affordable HousingDevelopmentMichiganMidwestNews

Michigan Approves $651M Ann Arbor Mixed-Income Project

by Lynn Peisner

ANN ARBOR, MICH. — Oxford Cos. and Crawford Hoying have received final approval from the Michigan Strategic Fund Board for Arbor South, a mixed-use redevelopment project covering approximately 20 acres on the south side of Ann Arbor. The project cost is estimated at $651 million. Arbor South, a brownfield development, is expected to include 1,069 residential units and encompass more than 2.2 million square feet. Plans call for predominantly rental apartments as well as a small for-sale component. Detailed city plans include 30 condominium units and 209 permanently affordable apartments …

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230-West-Alabama-Houston
BerkadiaInvestment SalesNewsTexas

Fat Property Buys Two 1960s Apartment Buildings in Midtown Houston

by Lynn Peisner

HOUSTON — Berkadia has arranged a two-property sale in Midtown Houston. The communities, 220 and 230 West Alabama, comprise 131 units. The buyer was locally based Fat Property. Berkadia’s Houston-based team of Kyle Whitney, Chris Curry, Jeffrey Skipworth, Chris Young, Joey Rippel and Tucker Fama represented the seller, an affiliate of Culver City, California-based Realty Center Management Inc. Built in 1960 and 1965 respectively, 220 and 230 West offer studio, one- and two-bedroom apartments as well as pools, fitness centers and pet amenities.

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