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127-W-Pomona-The-Monroe
CaliforniaDevelopmentFinanceNewsWestern

Affinius Capital Originates $76 Million Loan to Refinance Project in Monrovia, California

by Lynn Peisner

MONROVIA, CALIF. — Affinius Capital has provided a $76 million loan to Adept Urban Development. An IPA team led by Stefen Chraghchian arranged the financing. The refinancing loan will cover debt on The Monroe, a to-be-delivered, 232-unit development in Monrovia, located about 20 miles northeast of Los Angeles. A construction timeline was not disclosed. The Monroe will offer 55 studios and 122 one-bedroom, 52 two-bedroom and three three-bedroom floor plans. Amenities will include a pool with cabanas, a fitness center, fireplace, grilling stations and an outdoor lounge area on the …

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Define-Living-Park-Row
DevelopmentNewsTexas

Define Living Buys Land in West Houston for Park Row Project

by Lynn Peisner

HOUSTON — Define Living has acquired a 10-acre piece of land in Houston’s Energy Corridor, a mixed-use business district with a concentration of offices, housing, retail, recreation and other uses. The seller was Houston-based Wolff Cos., whose holdings within the district are known as Central Park and, according to the company, are among the last undeveloped parcels in the Energy Corridor area. With the acquisition by Define Living, Central Park now has one remaining parcel for sale. Locally based Define Living develops wellness-themed communities. The new project is called Define Living: …

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Charbern-Seattle
Investment SalesNewsWashingtonWestern

JV Acquires Portfolio in Downtown Seattle for $35.2 Million

by Lynn Peisner

SEATTLE — Vista Investment Group and Sky Alps Capital have acquired a three-property, 215-unit portfolio in downtown Seattle for $35.2 million. The seller was an unnamed local investor and property manager who owned the buildings for about 30 years. JLL arranged a Freddie Mac loan for the buyers. The seller was represented by Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Seattle office of Kidder Mathews. The portfolio consists of three properties, all of which were developed in the early 20th century and are located within a …

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Willamette-Tower-and-The-Olivia
FinanceNewsOregonWestern

JLL Arranges $169.7 Million ReFi for JV Owners of Two Portland Assets

by Lynn Peisner

PORTLAND, ORE. — JLL Capital Markets has arranged a $169.7 million, three-year bridge loan provided by TPG Real Estate Credit, the real estate finance arm of alternative asset management firm TPG. The borrowers are a joint venture between Alamo Manhattan and Diamond Realty Investments, and the funds will be put toward debt on Willamette Tower and The Olivia in Portland’s South Waterfront submarket. Willamette Tower, built in 2024, is a high-rise community that includes 340 units and 3,777 square feet of commercial space. The tower is currently 94 percent leased. …

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The-Alden-at-Cedar-Park
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale, Financing in Austin Suburb

by Lynn Peisner

CEDAR PARK, TEXAS — Newmark has arranged the sale of and financing for The Alden at Cedar Park, a 349-unit property in the Austin suburb of Cedar Park, located about 22 miles north of downtown. Newmark represented the undisclosed seller and procured the buyer, Weidner Apartment Homes. This transaction marks the Kirkland, Washington-based company’s first acquisition in the Austin MSA.  Newmark arranged a Fannie Mae acquisition loan for Weidner. Developed in 2020, The Alden at Cedar Park is a four-story community comprised of one- and two-bedroom floorplans. Amenities include a …

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Emblem-Oswego
IllinoisMidwestNewsOperations

Marquette Tapped to Manage Suburban Chicago Property

by Lynn Peisner

OSWEGO, Ill. — Marquette Management, a division of Naperville, Illinois-based Marquette Cos., has been selected as property manager for Emblem Oswego, a 312-unit community in Oswego, 46 miles west of Chicago. Quarterra Group, whose parent company is Lennar, developed the property in 2024. Emblem Oswego offers one- and two-bedroom floor plans with in-unit features such as quartz countertops, stainless steel appliances and private patios or balconies. Residents also have access to a pool and sundeck, fitness center, lounge, entertainment kitchen and electric vehicle charging stations. Marquette Management provides property management …

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Pacific-Trails-Covina
CaliforniaInvestment SalesNewsWestern

The Mogharebi Group Arranges $21 Million SoCal Sale

by Lynn Peisner

COVINA, CALIF. — The Mogharebi Group has arranged the $21 million sale of Pacific Trails, representing the seller, RPK Development, in the deal. The buyer is a Los Angeles-based private investment firm. Pacific Trails, located in Corvina, 22 miles east of Los Angeles, is an 84-unit community built in 1977. It features a mix of one- and two-bedroom units and such amenities as a pool, hot tub and fire pits.

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skyway-gardens
Affordable HousingDevelopmentNewsTexas

WNC & Associates, AHP Developers Break Ground on Affordable Housing Development in Alpine, Texas

by Lynn Peisner

ALPINE, TEXAS — WNC & Associates and AHP Developers have broken ground on Skyway Gardens II, a 44-unit affordable housing development in Alpine, a small city in Southwest Texas with a population of about 6,000 residents. The project is being financed through a combination of 9 percent federal Low-Income Housing Tax Credits provided by WNC, a $3 million loan from Cedar Rapids Bank & Trust and a construction loan from Sterling Bank. Completion is slated for December 2026. Located at 1000 East Lechuguilla Lane, Skyway Gardens II comprises 11 one-story, …

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Blue-Hill-Watchung
DevelopmentFinanceNew JerseyNewsNortheast

JV Developers Lock in Financing for $102.9 Million Somerset County Project

by Lynn Peisner

WATCHUNG, N.J. — JLL Capital Markets has arranged construction debt and equity for developers building Blue Hill at Watchung, a $102.9 million community in Watchung, 30 miles west of Manhattan. Completion is slated for 2026. The Sterling Properties Group and Danbro Properties are the developers. The property benefits from a 30-year PILOT (payment in lieu of taxes) agreement with the Borough of Watchung. PILOT agreements are government-sponsored incentives for developers to build housing, whereby the property owner pays an agreed-upon annual fee to a municipality versus traditional yearly property taxes. …

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Pico-Blvd
CaliforniaDevelopmentInvestment SalesNewsWestern

CBRE Arranges $24 Million West L.A. Land Sale

by Lynn Peisner

LOS ANGELES — CBRE has arranged a $24 million land sale in West Los Angeles. The 1.7-acre multifamily development site, located at 9700-9740 W. Pico Blvd., was acquired by an LLC doing business as Pico BWB. The site is approved for the development of up to 200 apartments. The seller was not disclosed. CBRE’s Melinda Russell and Josh Samuels represented both parties in the transaction. The site is within walking distance of Century City and adjacent to Beverly Hills in the Beverlywood neighborhood.

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