News

IPA Brokers Sale of 374-Unit Community in Fort Worth, Texas

by Channing Hamilton March 12, 2025

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cortland Riverside, a 374-unit property in Fort Worth. Built in 2020, the garden-style community consists of two- and three-story buildings. The property offers a mix of two- and three-bedroom apartments with an average size of 1,014 feet. Tenants have access to amenities such as a pool with a sundeck, fitness center and private garages. Select units feature energy-efficient stainless-steel appliances and walk-in closets. Cortland Riverside was 95 percent occupied at the …

March 12, 2025

Colorado Investment Sales News Western

Confluence Cos. Purchases Asset in Golden, Colorado for $47.5 Million

by Channing Hamilton March 11, 2025

GOLDEN, COLO. — Confluence Cos. has purchased West 8th, a 99-unit community located at 1410 8th St. in Golden, roughly 15 miles west of Denver. MIG Real Estate sold the property for $47.5 million. David Potarf, Dan Woodward, Matt Barnett and Jake Young of Walker & Dunlop Denver Investment Sales handled the transaction for the seller and buyer.

March 11, 2025

Cascade at Town Center in Eden Prairie, Minnesota

Investment Sales Midwest Minnesota News

FPA Multifamily Purchases 204-Unit Community Near Minnesota

by Channing Hamilton March 11, 2025

EDEN PRAIRIE, MINN. — FPA Multifamily has purchased Cascade at Town Center, a 204-unit community in Eden Prairie, 18 miles southwest of Minneapolis. The community was bult in 2001 with 18 additional apartments added in 2018. The average unit size is 1,158 square feet. Amenities include a gym, clubroom, indoor pool, courtyard and garage parking. Josh Talberg, Joseph Peris and Mark Stern of JLL represented both the seller, a joint venture between Harbert Management and Magellan Investment Partners, and the buyer. Elliott Throne and Scott Loving of JLL originated acquisition …

March 11, 2025

Finance Florida News Southeast

NewPoint Provides $50 Million Loan to Refinance Community Near Tampa, Florida

by Channing Hamilton March 11, 2025

PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million lease-up bridge loan to Hillpointe LLC for the refinancing of Pointe Grand Plant City, a 300-unit asset located in Plant City, approximately 24 miles east of Tampa, Florida. Trevor Ritter of NewPoint originated the two-year, floating rate, interest-only loan. Pointe Grand Plant City consists of 10 three-story buildings that house two-bedroom units. Shared amenities include a pool, fitness center, clubhouse with coffee and tea bar, business center with conference room, picnic area with barbecue grills, community …

March 11, 2025

Company News New York News Northeast Texas

Franklin BSP Realty Trust to Acquire Mortgage Originator NewPoint Holdings

by Channing Hamilton March 11, 2025

NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator based in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals. Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties across the nation. The company operates as both a direct lender and third-party …

March 11, 2025

Affordable Housing Development News Northeast Washington, D.C.

HUD Cuts Contracts for Affordable Housing Developers Under DOGE Directive

by Channing Hamilton March 11, 2025

WASHINGTON, D.C. — The Trump administration has halted at least $60 million in financing intended for affordable housing developments across the nation, according to the Associated Press. At the direction of the Department of Government Efficiency (DOGE), the U.S. Department of Housing and Urban Development (HUD) has terminated contracts for at least two of the three organizations in its Section 4 program, which the Associated Press states could stall the development of hundreds of affordable housing projects across the United States. The Section 4 program, also known as the Capacity Building for …

March 11, 2025

Florida Investment Sales News Southeast

Partnership Acquires 400-Unit Community in Sunrise, Florida

by Channing Hamilton March 10, 2025

SUNRISE, FLA. — FCP, in partnership with BMC Investments and The RMR Group, has bought ARIUM Sunrise, a 400-unit asset in Sunrise, approximately 10 miles east of Fort Lauderdale, Florida. ARIUM Sunrise was built in 1998 and was 94 percent occupied at the time of sale. Amenities include a pool, clubhouse and fitness center. Additionally, the partnership plans to upgrade 32 of the units. Wells Fargo provided financing for the acquisition. Robert Given and Zachary Sackley of CBRE represented the seller in the deal. Charles Crapse and Denny St. Romain, …

March 10, 2025

Investment Sales News Texas

SPI Advisory Purchases 416-Unit Community Near Dallas

by Channing Hamilton March 10, 2025

AUBREY, TEXAS — SPI Advisory, an investment firm with offices in Dallas and Austin, Texas, has purchased Encore 380 Apartments, a 416-unit asset in Aubrey, approximately 50 miles north of downtown Dallas. Eastdil Secured represented the undisclosed seller in the deal. Formerly known as Century 380 Apartments, the garden-style community was built in 2017. SPI plans to renovate the community with upgrades to the property exterior, common areas and amenity spaces. The new ownership will also add washers and dryers to all units.

March 10, 2025

Haven Hoffman in Hoffman Estates, Illinois

Illinois Investment Sales Midwest News

Bender Cos. Acquires Community Near Chicago for $77.3 Million

by Channing Hamilton March 10, 2025

HOFFMAN ESTATES, ILL. — Bender Cos. has purchased Haven Hoffman, a 550-unit garden-style community in Hoffman Estates, about 33 miles northwest of downtown Chicago. Tricap Residential Group and Wolcott Group sold the asset for $77.3 million. Located at 725 W Bode Cir., Haven Hoffman offers a mix of studio, one- and two-bedroom floor plans. The average unit size is 746 square feet. Amenities include a pool, fitness center, clubhouse, work-from-home suites and picnic areas with grilling stations. The property was built in 1970. The previous ownership invested approximately $3.3 million into …

March 10, 2025

Arizona Investment Sales News Western

Neighborhood Ventures Acquires 123-Unit Property in Phoenix

by Channing Hamilton March 10, 2025

PHOENIX — Neighborhood Ventures (NV), a real estate crowdfunding company based in Phoenix, has purchased Venture on Colter, a 123-unit property in Phoenix. NV purchased the asset directly from an undisclosed lender for $13 million, a 20 percent discount from the community’s value in 2022. The company has raised $4.5 million from 95 investors for the property. NV estimates that, after implementing new property management and leasing strategies, Venture on Colter will be fully occupied within the next six months.

March 10, 2025

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