News

PMG Secures $370M Refinancing Loan for Society Brooklyn

by Lynn Peisner March 24, 2026

BROOKLYN, N.Y. — JLL has arranged a $370 million refinancing loan for Society Brooklyn, a 517-unit, two-tower community along the Gowanus Canal in Brooklyn. The lender was Brookfield Asset Management, and the borrower was Property Markets Group (PMG), a Miami-based developer that opened the property in May 2025. Society Brooklyn is comprised of 385 market-rate units and 132 units reserved for households earning between 40 and 130 percent of area median income. The development also includes 57,288 square feet of retail and commercial space. The property offers fitness centers, yoga …

March 24, 2026

Investment Sales Midwest Minnesota News

Wolverton Capital Sells The Hill Apartments in Twin Cities Metro

by Lynn Peisner March 24, 2026

ST. PAUL, MINN. — Wolverton Capital has sold The Hill Apartments, a 162-unit community in St. Paul’s Cathedral Hill neighborhood. JLL’s team representing Santa Monica, California-based Wolverton was led by Josh Talberg, Joseph Peris and Eli Smith. The Hill Apartments were built in 2020. Amenities include a pool and hot tub, a business center with a conference room, a clubhouse with a full kitchen, a fitness center and a lobby lounge. According to the Minneapolis/St. Paul Business Journal, the property is valued at $26.8 million and was developed by Edina, …

March 24, 2026

Development News Washington Western

JPI, Stream Real Estate Buy Parcel in Uptown Seattle for Future 10-Story Family Community

by Lynn Peisner March 24, 2026

SEATTLE — JPI has acquired a development site at 400 4th Ave. W. in Seattle. The Dallas-based developer, in partnership with Seattle-based Stream Real Estate, plans to build a 10-story, 189-unit community on the parcel. The partners have not disclosed specifics about the project but say two- to three-bedroom floor plans designed with families in mind will take priority. Construction is expected to begin in spring 2027.

March 24, 2026

Investment Sales Midwest News Wisconsin

MLG Capital Sells Douglas Terrace in Racine, Wisconsin, for $23M

by Lynn Peisner March 23, 2026

RACINE, WIS. — Northmarq has arranged the $23 million sale of and acquisition financing for Douglas Terrace Apartments in Racine. Northmarq’s Chicago-based investment sales team led by Alex Malzone, Parker Stewart, Dominic Martinez and Jake Lamb represented seller Wisconsin-based MLG Capital. The buyer was a private capital group from Illinois. A debt and equity team led by Brett Hood and Kevin McCarthy arranged an $18.3 million Fannie Mae loan for the buyer. Douglas Terrace Apartments is a 202-unit garden-style community located at 3706 Douglas Ave. Built in 1966 and renovated …

March 23, 2026

Georgia Investment Sales News Southeast Virginia

Harbor Group International Buys 11 Properties from AH Realty Trust for $562M

by Lynn Peisner March 23, 2026

NORFOLK, VA. — Harbor Group International (HGI) will acquire 11 properties from AH Realty Trust (NYSE:AHRT) for $562 million. The 11 assets represent the majority of Virginia Beach-based AHRT’s multifamily portfolio. The REIT will retain Smith’s Landing and plans to separately market its remaining two properties, The Everly in Roanoke, Virginia, and Solis in Gainesville, Georgia. HGI has provided a $15 million nonrefundable deposit, and the all-cash transaction is not contingent on financing. The transaction is expected to close by mid-year. AHRT’s long-term goals are to simplify its platform by …

March 23, 2026

Development News North Carolina Southeast

Alliance Residential Buys Land for Metro Charlotte’s Broadstone Bryton

by Lynn Peisner March 23, 2026

HUNTERSVILLE, N.C. — Alliance Residential Co. has closed on a 20.4-acre land sale for the development of Broadstone Bryton, a 359-unit community in Huntersville, 12 miles north of Charlotte. The Arizona-based developer estimates the project will be complete by the second quarter of 2028. The Broadstone Bryton site is adjacent to the Bryton Town Center and part of the 450-acre Bryton master-planned community. Broadstone Bryton will feature 10 three story residential buildings and a freestanding clubhouse. Cline Design Associates is the architect. Amenities to support the one-, two- and three-bedroom …

March 23, 2026

Investment Sales News Texas

Newmark Arranges Sale of Jefferson Cove in Grand Prairie, Texas

by Lynn Peisner March 20, 2026

GRAND PRAIRIE, TEXAS — Madera Residential has acquired Jefferson Cove, a 283-unit property completed in 2024, from TDI. Newmark’s Brian Murphy, Brian O’Doyle Jr. and Purvesh Gosalia arranged acquisition financing on behalf of Madera. Amenities include a pool, a game lawn, a clubhouse, controlled access parking, community-wide Wi-Fi and Luxer One package lockers.

March 20, 2026

Development News Texas

Wood Partners Breaks Ground on Alta Preserve in Allen, Texas

by Lynn Peisner March 20, 2026

ALLEN, TEXAS — Atlanta-based developer Wood Partners has broken ground in Allen on Alta Preserve, a 311-unit community located within The Farm mixed-use, master-planned development about 30 miles north of Dallas. Completion is slated for the second quarter of 2027. At build out, residents will have access to pocket parks, a 2.5-acre lake and 2.5 miles of hiking and biking trails that connect to the city’s broader trail system. Alta Preserve marks Wood Partners’ third phase of construction at The Farm. The firm completed Alta at The Farm in 2023, …

March 20, 2026

Investment Sales Midwest News Wisconsin

CBRE Arranges Sale of Sage on Prospect in Milwaukee

by Lynn Peisner March 20, 2026

MILWAUKEE — CBRE has arranged the sale of Sage on Prospect, a 34-unit community in Milwaukee’s Lower East Side neighborhood. The asset traded for approximately $8.3 million. CBRE’s Sean Beuche, Matson Holbrook, Gretchen Richards and Patrick Gallagher represented the seller, locally based Dominion Properties in the transaction. Three Sixty Real Estate Solutions, headquartered in La Crosse, Wisconsin, was the buyer. Dominion Properties purchased the asset in 2014 and embarked on a redevelopment project that converted a 1961-built assisted living facility into a LEED Platinum-certified multifamily community. The redevelopment included the …

March 20, 2026

Finance Illinois Midwest News

Northmarq Arranges $45M Refinancing of Reside on Barry in Chicago

by Lynn Peisner March 19, 2026

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.

March 19, 2026

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