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Affordable HousingConnecticutFinanceMichiganMidwestNewsNorth CarolinaNortheastRhode IslandSoutheast

Joint Venture Lands $76 Million Bridge Financing for Hotel-to-Multifamily Portfolio

by Lynn Peisner

BALTIMORE — M&T Realty Capital Corp. has provided a $76.2 million bridge loan for the GoodHomes portfolio owned by GoodHomes Communities and PILOT Real Estate Group. The portfolio consists of five former hotel properties that have been converted to workforce housing, totaling 886 units. The properties are located in Detroit, Fayetteville, North Carolina, Groton, Connecticut, and Warwick, Rhode Island. The bridge loan will refinance existing first lien debt and preferred equity, providing the sponsor with the capital needed to complete lease-up and stabilization. Four of the five properties benefit from …

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PresidiumValleyView
DevelopmentNewsOperationsTexas

Presidium Opens Valley View in Farmers Branch, Texas

by Lynn Peisner

FARMERS BRANCH, TEXAS — Texas-based developer Presidium has completed Presidium Valley View, a 348-unit project located in the northern Dallas metro of Farmers Branch. Units come in studio, one-, two- and three-bedroom floor plans and range in size from 573 to 1,631 square feet. Residences are furnished with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property houses a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities include …

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6705-6737-N-California-Ave-Chicago-IL
IllinoisInvestment SalesMidwestNews

Pegasus Arranges $10.8 Million Sale in Chicago

by Lynn Peisner

CHICAGO — Pegasus, a Los Angeles-based real estate advisory firm, has arranged the $10.8 million sale of an eight-building, 94-unit portfolio in Chicago’s Rogers Park neighborhood. The seller was a California-based family office that inherited the property in 2024. The buyer was an undisclosed local multifamily operator completing a 1031-exchange transaction. The buildings are located at 6705 to 6737 N. California Ave. The unit mix includes 36 studios, 55 one-bedrooms and three two-bedrooms. They buyer is planning to self-manage the property and complete renovations.

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DevelopmentNewsNorth CarolinaSoutheast

Alliance Residential Buys Land for Research Triangle Project

by Lynn Peisner

DURHAM, N.C. — Scottsdale, Arizona-based Alliance Residential Co. has acquired approximately 14 acres of land in Durham for Broadstone RTP, a 270-unit project about four miles north of Research Triangle Park. The site is located at 2610 South Miami Blvd. The project’s Raleigh-based team includes McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone RTP will include one three-story residential building, three four-story residential buildings and a freestanding clubhouse. Units will feature granite countertops, stainless steel appliances, wood-style flooring, walk-in closets and full-sized washers and …

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Magnolia_Ridge
DevelopmentMidwestMissouriNews

Albion Breaks Ground on Magnolia Ridge in Greater St. Louis

by Lynn Peisner

DES PERES, MO. — Chicago-based Albion Residential along with project partners Koplar Properties and Theis Group have broken ground on Magnolia Ridge in Des Peres, 15 miles west of St. Louis. Brinkmann Constructors is the general contractor, and construction financing was provided by Old National Bank. Completion is slated for spring 2027. The community will be a five-story, 182-unit property located at 13431 Manchester Road. Amenities will include a fitness center with a sauna and yoga room, a private dining room, a game lounge, a speakeasy with wine lockers, a …

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Whisper-Creek-Lakewood
ColoradoInvestment SalesNewsWestern

Brixton Capital Buys Whisper Creek in Southwest Denver

by Lynn Peisner

LAKEWOOD, COLO. — Brixton Capital has acquired Whisper Creek in Lakewood, a Denver suburb, eight miles west of downtown. The Denver Business Journal reports that CWS Capital Partners sold the asset for $79.5 million. Built in 2002 by Fairfield Residential, Whisper Creek is a 272-unit community with a resort-style pool, 24-hour fitness center, a clubhouse, business center, grills, a pet park and a playground. Solana Beach, California-based Brixton has engaged Greystar to manage the property. Tony Nargi with JLL Capital Markets secured acquisition financing.

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Nova-at-East-Park-Village-Orlando
DevelopmentFinanceFloridaNewsSoutheast

Onicx Group Refinances Construction Loan on Orlando Project

by Lynn Peisner

ORLANDO, FLA. — A joint venture led by Onicx Group has secured a $66.3 million first mortgage provided by Mesa West Capital for Nova at East Park Village, a 264-unit property in Orlando. Construction wrapped in August. The property features a mix of one-, two- and three-bedroom units across three mid-rise buildings. Amenities include a pool with cabanas and a 24-hour fitness center. Nova at East Park Village is located in the master-planned Lake Nona submarket, approximately 12 miles southeast of downtown Orlando. Orlando-based ZRS Management is the property manager. …

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Aster-&-Links-Sarasota
FinanceFloridaNewsSoutheast

Affinius Capital Originates $204 Million Loan to Refinance Aster & Links in Sarasota

by Lynn Peisner

SARASOTA, FLA. — Belpointe OZ (NYSE: OZ) has received a $204 million loan from Affinius Capital to refinance Aster & Links, a 424-unit newly completed community in Sarasota. Lantern Real Estate Advisors + Partners arranged the loan. The property is comprised of the Aster building with 243 units and the Links building with 181 units and is anchored by a 50,300-square-foot grocery store leased to Sprouts Farmers Market. Amenities include rooftop lounges, resort-style pools, coworking spaces, courtyards, fitness centers, catering kitchens, clubrooms and 24-hour concierge services. The project was completed …

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Solana-Place-at-Carlton-Commons-Casa-Grande
ArizonaBuild-to-RentInvestment SalesNewsWestern

Northmarq Arranges $30 Million Sale in Casa Grande, Arizona

by Lynn Peisner

CASA GRANDE — D.R. Horton has sold Solana at Carlton Commons to CALCAP Advisors for $30 million. Northmarq’s Phoenix multifamily investment sales team arranged the sale of the 113-unit build-to-rent property, while Northmarq’s debt and equity team arranged a $21.8 million Fannie Mae acquisition loan for CALCAP. Completed in 2023, Solana at Carlton Commons is in Casa Grande, a city about 50 miles south of Phoenix and approximately 70 miles north of Tucson. The community features three- and four-bedroom units averaging 1,381 square feet. Each residence includes stainless steel appliances, …

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Willow-Grove-Apartments-Modesto
CaliforniaInvestment SalesNewsWestern

Mogharebi Group Arranges $34.6 Million Sale in Modesto

by Lynn Peisner

MODESTO, CALIF. — The Mogharebi Group has brokered the $34.6 million sale of Willow Grove Apartments in Modesto. The seller was a privately held real estate investment firm based in Northern California that had owned the property since 2017. The buyer was a high net worth private family also based in Northern California. Built in 1990, Willow Grove Apartments comprises 18 two- and three-story buildings offering one- and two-bedroom floor plans ranging from 700 to 900 square feet. Amenities include a resort-style pool and a fitness center.

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