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River-Lofts
Investment SalesNewsOregonWestern

IPA Arranges $15.9 Million Sale of Suburban Portland Asset

by Lynn Peisner

TUALATIN, ORE. — Institutional Property Advisors (IPA) has arranged the $15.9 million sale of River Lofts, a 74-unit property in Tualatin, about 12 miles south of downtown Portland, Oregon. Next Wave Investors was the seller. The buyer was FPA Multifamily. River Lofts, which was developed in 1974, has been renovated by Next Wave as well as other previous owners. Anthondy  Palladino and Georgie Christensen-Riley of Marcus & Millichap and IPA’s Philip Assouad, Giovanni Napoli, Nick Ruggiero and Ryan Harmon represented the seller and procured the buyer.

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Opus in Los Angeles
CaliforniaDevelopmentFinanceNewsWestern

BWE Secures $220 Million Refinancing for Luxury Apartments in Los Angeles’ Koreatown

by Lynn Peisner

LOS ANGELES — BWE has arranged $220 million in loans for locally based Jamison Properties to refinance construction debt on Opus, a 428-unit high-rise in Los Angeles’ Koreatown neighborhood. Jamison broke ground on Opus in 2022 and opened the property, which consists of two towers, in 2024. Opus is managed by Greystar. Monthly rental rates range from $3,630 to $4,945, according to Apartments.com. The property was 90 percent leased at the time of the loan closing. BWE’s Max Sauerman, senior vice president, and Tyler Shebeck, vice president in BWE’s Los …

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The-Rail-at-Bound-Brook
DevelopmentNew JerseyNewsNortheast

Denholtz, RWC Open The Rail at Bound Brook

by Lynn Peisner

BOUND BROOK, N.J. — Denholtz Properties and RWC have completed The Rail at Bound Brook, about 45 miles south of Manhattan. Construction of the 143-unit property, located at 100 Hamilton St., began in 2023. The six-story building offers studios and one- and two-bedroom units and amenities such as a fitness center, game room, courtyard and outdoor grilling and dining areas.

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Tempo-at-White-Oak-Lobby
DevelopmentNewsTexas

Marquette Opens Tempo at White Oak in Houston

by Lynn Peisner

HOUSTON — Marquette Cos. has completed and opened Tempo at White Oak, a 304-unit community in the mixed-use White Oak District in Houston’s Woodland Heights neighborhood. Marquette is also the property manager for Tempo and the developer of the mixed-use project, a four-block-by-six-block area with residential, retail, restaurant and entertainment spaces. Tempo connects to the White Oak Music Hall and the new Woodlands Social bar and restaurant. Marquette has two first-floor retail spaces available for lease at Tempo and is also developing commercial space across Keene Street to add bars, …

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The-Maxwell
Investment SalesNewsTexas

CONAM Group Acquires Asset in Frisco’s Canals at Grand Park

by Lynn Peisner

FRISCO, TEXAS — The CONAM Group has acquired The Maxwell, a 325-unit community in Frisco. The seller and sales price were not disclosed, but StreetLights Residential in partnership with Tricon Capital Group developed the asset in 2018. The Maxwell was acquired through the buyer’s CONAM Strategic Investments Fund IV. CONAM is based in San Diego and acquires, develops, invests in and property-manages multifamily. The Maxwell is located within a master-planned community called the Canals at Grand Park. Units are offered as studios up to three-bedrooms with monthly rental fees ranging from …

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Highline-North
BerkadiaInvestment SalesNewsNorth CarolinaSoutheast

Berkadia Arranges $43.8 Million Sale of Highline North in Asheville

by Lynn Peisner

ASHEVILLE, N.C. — Berkadia has arranged the sale of and financing for Highline North, a 168-unit, garden-style property in Asheville. South Carolina-based Graycliff Capital acquired the asset from North Carolina-based Carlisle Residential Properties for approximately $43.8 million. Berkadia Senior Managing Director Caleb Troop, Director Thomas Colaiezzi and Associate Director Matt Robertson of Berkadia Charlotte led the sale on behalf of the seller. Directors Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing through Freddie Mac on behalf of Graycliff. The deal closed on May 15. Located at …

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Link-at-Douglas-Phase-2
Affordable HousingDevelopmentFloridaNewsSoutheast

Developers Secure $125 Million Loan, Break Ground on Cadence in Miami

by Lynn Peisner

MIAMI — Locally based developer 13th Floor Investments, in partnership with Barings, a subsidiary of MassMutual, has secured a $125 million construction loan from a syndicate of Santander Bank and TD Bank to finance the development of Cadence in Miami. Now under construction, the 35-story tower will include 432 market-rate apartments. About 54 units will be set aside as workforce housing, but specific income restrictions were not disclosed. Developers estimate the project will be complete by February 2028. Cadence is the third residential building to be constructed within the mixed-use, …

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Sunridge
Build-to-RentCaliforniaDevelopmentNewsWestern

Tricon Residential Opens $60 Million Sacramento-Area BTR Project

by Lynn Peisner

RANCHO CORDOVA, CALIF. — Tricon Residential, a subsidiary of global investment firm Blackstone Real Estate, has completed and opened Tricon Sunridge, a built-to-rent (BTR) community in Rancho Cordova, 14 miles east of Sacramento, California. Blackstone Real Estate invested approximately $60 million to develop the community. Project partners included Sares Regis and Signature Homes. The 114-unit homes are offered as three- or four-bedroom floor plans and feature solar panels, fenced-in backyards and electric-vehicle charging outlets within two-car garages.

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Ekos-on-Evans_New-Playground
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners to Develop LIHTC Project in Fort Myers

by Lynn Peisner

FORT MYERS, FLA. — McDowell Housing Partners (MHP) has secured financing and acquired land for Ekos on Evans, an affordable housing development in Fort Myers. Under the directives of Florida’s 4 percent low-income housing tax credit program, residences will be reserved for tenants earning 30, 60 or 70 percent of area median income. The 144-unit property consists of five garden-style buildings with one-, two- and three-bedroom floor plans. Amenities will feature a clubhouse, computer room, fitness center, terrace, grills, pool, a playground and a dog park. Construction of Ekos at …

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Bradbury
DevelopmentFloridaNewsSoutheast

Mesa Capital Partners Breaks Ground in Northeast Tallahassee

by Lynn Peisner

BRADFORDVILLE, FLA. — Mesa Capital Partners has broken ground on The Bradbury at Bannerman Village 10 miles north of Tallahassee. Mesa Capital Partners’ project is situated on a 14-acre site at Bannerman and Bull Headley roads and will be part of the Bannerman Village master-planned community. This area has slowly been developing in recent years, aiming to be a walkable, bikeable community. The Shops at Bannerman Village, a Publix-anchored center, opened in 2023. The project is also near the Landon Hill for-sale home community. Leasing is scheduled to begin in …

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