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Altus Odessa Portfolio
Investment SalesNewsTexas

Altus Equity Group Acquires 1225-Unit Portfolio in Odessa, Texas

by Channing Hamilton

ODESSA, TEXAS — Altus Equity Group Inc. has acquired a portfolio of six garden-style assets totaling 1,225 apartments in the western Texas city of Odessa. The portfolio was 92 percent occupied at the time of sale. Altus Equity Group acquired the portfolio through a partnership with Wellings Capital. Drew Garza of the Dallas office of Institutional Property Advisors, a division of Marcus & Millichap, arranged the deal. Rocco Mandala of CBRE arranged the debt. Phillips Murrah and Beyers Costin Simon provided legal counsel.

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DevelopmentLeasing & MarketingNewsTexas

Z Modular Begins Leasing FLATZ 830 in Marble Falls, Texas

by Channing Hamilton

MARBLE FALLS, TEXAS — Z Modular, a division of Zekelman Industries, has begun leasing at FLATZ 830, a 264-unit property located in Marble Falls, roughly 50 miles northwest of Austin, Texas. Amenities include a pool, fitness center, multi-sport simulator, pet park, coworking lounge, private conference room and complimentary coffee bar. Units come in studio, one-, two- and three-bedroom floor plans, according to Apartments.com.

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Investment SalesMarylandNewsNortheast

CAPREIT Acquires Two Communities in Waldorf, Maryland

by Channing Hamilton

WALDORF, MD. — North Bethesda, Maryland-based CAPREIT has acquired two properties in Walforf, roughly 30 miles southeast of Washington, D.C. The two communities, Palmer Apartments and Smallwood Gardens, total 360 units. Located at 3008 Pilgrims Square, Palmer Apartments was originally constructed in 1980 and consists of 152 apartments. Units come in one- and two-bedroom floor plans. Rents start at $1,662 per month for a one-bedroom residence, according to Apartments.com. Smallwood Gardens, formerly known as Smallwood Gardens at Village Center of St. Charles, is situated at 2640 Hamilton Place. Originally built in 1976, …

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Alto Station Apartments
FinanceMidwestNewsWisconsin

MMCC Secures $10.1 Million Loan for Refinancing of Asset in Eau Claire, Wisconsin

by Channing Hamilton

EAU CLAIRE, WIS. — Marcus & Millichap Capital Corp. (MMCC) has secured a $10.1 million loan for the refinancing of Alto Station Apartments, an 88-unit building in Eau Claire, roughly 93 miles west of Minneapolis. The newly built community, which is located at 325 Main St., is pre-leasing now and is expected to open in 2026, according to the property’s website. The community features a mix of studio to two-bedroom floor plans. Amenities include a fitness center, clubhouse, rooftop terrace and bike storage. Robert Bhat of MMCC arranged the loan …

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GH 25
DevelopmentFinanceNewsTexas

Dwight Mortgage Trust Provides $48 Million Construction Loan for San Diego Development

by Channing Hamilton

SAN DIEGO — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $48 million construction loan for GH 25, a 114-unit project in San Diego. CAST Development is the borrower and project developer. The loan will be used alongside sponsor equity to fund construction, establish an interest reserve and cover transaction costs for the borrower. The eight-story project will offer 114 studio, one- and two-bedroom apartments. Amenities include a seventh-floor amenity terrace with a plunge pool, fire pits, barbecues and lounge areas. The property will also feature …

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One Twenty Brickell Residences
DevelopmentFinanceFloridaNewsSoutheast

PMG Secures $413 Million Construction Loan for High-Rise Development in Miami

by Channing Hamilton

MIAMI — PMG has received a $413 million construction loan for One Twenty Brickell Residences, a two-tower development in Miami’s Brickell Financial District. Located at 120 S.W. 8th St., the project will consist of an apartment tower and a condominium tower.  The multifamily high-rise will rise 41 stories and offer a mix of studio, one-, two- and three-bedroom apartments. The building will also feature a 48,000-square-foot amenity package, including a pool with a hot tub, fitness center, coworking hub, lounges and a lobby with concierge services. Sentral will operate the …

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Witmer Manor
Affordable HousingCaliforniaInvestment SalesNewsWestern

CPP Acquires Witmer Manor Affordable Housing Complex in Los Angeles for $48.4 Million

by Channing Hamilton

LOS ANGELES — Community Preservation Partners (CPP) has purchased Witmer Manor, an affordable housing property in Los Angeles. Located at 1501 Miramar St. in Los Angeles’ Westlake neighborhood, Witmer Manor comprises eight three- and four-story, elevator-served buildings containing 142 studio and 96 one-bedroom units. Common area amenities include a laundry room and an onsite property management office. CPP is partnering with LifeSTEPS to provide onsite adult education, health-and-wellness and skill-building classes and services to residents. Originally built in 1930, the property was most recently renovated in 2005. CPP’s total development investment …

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Arlington Gateway
DevelopmentIllinoisMidwestNews

Bradford Allen, Moceri+Roszak Top Out 301-Unit Complex in Suburban Chicago

by Channing Hamilton

ARLINGTON HEIGHTS, ILL. — Bradford Allen and Moceri+Roszak have topped out the initial phase of Arlington Gateway, a master-planned community in the northwest Chicago suburb of Arlington Heights. The first phase consists of an eight-story, 301-unit multifamily building with 26,000 square feet of ground-floor retail space. Designed by Thomas Roszak Architecture, the property will offer a mix of studio, one-, two- and three-bedroom floor plans as well as 17,500 square feet of indoor and outdoor amenities. Those include an outdoor pool, fitness center with yoga studio, media rooms, coworking space, …

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RoseMary's Place
Affordable HousingDevelopmentNewsTexas

NHP Foundation Opens $45 Million Supportive Housing Complex in Midtown Houston

by Channing Hamilton

HOUSTON — The NHP Foundation has opened RoseMary’s Place, a $45 million supportive housing complex in Midtown Houston. The four-story, 149-unit building is dedicated to supporting individuals or families who are currently or were recently experiencing homelessness. The NHP Foundation has partnered with nonprofit social services provider Magnificat Houses Inc. to operate RoseMary’s Place, which also offers three multipurpose rooms, two gathering areas, a warming kitchen and a 24-hour staffed entry desk. The City of Houston Housing & Community Development Department provided $18.7 million in financing for the project, while …

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FinanceInvestment SalesNew JerseyNewsNortheast

Dwight Mortgage Trust Provides $50 Million Acquisition Loan for New Jersey Asset

by Channing Hamilton

TOMS RIVER, N.J. — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $50 million bridge loan for the acquisition of Silverwoods, a 313-unit multifamily property located in the coastal New Jersey community of Toms River. The 55-acre, age-restricted property consists of 46 one-story buildings that house seven studios, 41 one-bedroom units and 265 two-bedroom units. Amenities include a pool, fitness center and a clubhouse. Moshe Feiner of Sevenstone Capital arranged the debt on behalf of the borrowers, Mathias Deutsch and Isidore Bleier. In …

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