LAS VEGAS — Greystone Monticello has closed two bridge loans totaling $40.3 million for two apartment complexes in Las Vegas. The funds will be used to refinance the outstanding bridge loans and provide additional time to enhance operations, positioning the properties for a potential future sale or permanent financing. Darryl Myrose of Greystone Monticello originated the loans. The borrower and properties were not disclosed.
Four significant cultural shifts are driving the evolution of multifamily design. Today, developers and architects must create spaces that serve the remote work trend, meet the demand for wellness amenities, keep up with changing sustainability and technology standards and create communities that socially engage their residents. How Hybrid Work Schedules Have Changed Design The shift to remote and hybrid work has profoundly influenced design offerings and space planning at an unprecedented pace in multifamily developments. Before the shift to full-time or partial work from home, the average size of most …
PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Desert Club in Phoenix. Clarion Partners sold the property to Weidner Apartment Homes for $187.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Desert Club was built in 2004 on 21 acres. The garden-style community offers 497 units that average 983 square feet. Apartments feature open-concept floor plans, 9-foot ceilings and arched entryways. Community amenities include a pool and spa.
SAN RAFAEL, CALIF. — EAH Housing, a development and management organization based in San Rafael, has appointed Jennifer Wu to its executive leadership team as chief financial officer. In this position, Wu will drive EAH Housing’s financial sustainability and oversee the company’s efforts to create more affordable housing. Prior to joining EAH Housing, Wu served as vice president and controller for MidPen Housing. Previously, she led corporate finance and international-based accounting teams at Meta (NASDAQ: META) and Digital Realty Trust (NYSE: DLR). She received a degree in economics and business …
DENVER — JLL Capital Markets has negotiated a $51 Fannie Mae loan for the refinancing of Elowyn Townhomes, a 211-unit townhome-style community located at 4725 W Quincy Ave. in Denver. The property was built in 1975 on a 14.7-acre site and recently renovated in 2024. Elowyn Townhomes offers two-story units in one- and two-bedroom layouts. Units feature semi-finished, full floor plate basements, backyard patios, stainless steel appliances and fireplaces. Amenities include a pool and spa, clubhouse, barbeque grills and a sauna. The property is currently 97 percent leased. JLL worked …
SOUTH LAKEWOOD, COLO. — S2 Capital has acquired Dartmouth Woods, a 201-unit asset in South Lakewood, approximately eight miles west of downtown Denver, for an undisclosed price. Dartmouth Woods was constructed in 1990. Located at 10025 W. Dartmouth Ave., the property consists of buildings that rise two and three stories. The buyer plans to implement interior renovations, including stainless steel appliances, modern lighting, new flooring and updated cabinets, along with extensive renovations to the exterior and amenities space.
SIMI VALLEY, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has brokered the sale of The Landing at Arroyo in Simi Valley, approximately 40 miles northwest of downtown Los Angeles. The asset traded hands for $95 million. Kevin Green, Joseph Grabiec and Gregory Harris of IPA represented the seller, USA Properties Fund, and procured the buyer, a private multifamily investor. The Landing at Arroyo was built in 2022. The community consists of 212 units across seven buildings on a 10-acre site. Apartments feature washers …
TORRANCE, CALIF. — CBRE has arranged the sale of The Highlands, a 121-unit community in the Los Angeles suburb of Torrance. Koto Estates Co. Ltd., an investor based in Japan, purchased the asset from Santa Barbara, California-based Ocean Ten LLC for $71.5 million. Priscilla Nee and Yasuyuki Kojima represented the buyer in the deal. Located at 25935 Rolling Hills Road, The Highlands is situated adjacent to the Rolling Hills and Palos Verdes neighborhoods. Units come in studio, one-, two- and three-bedroom floor plans, according to the property website. Community amenities include an …
SACRAMENTO, CALIF. — CBRE has arranged the sale of EVIVA Midtown, a 118-unit property located at 1531 N. St. in Sacramento. Sequoia Equities and Coit Financial sold the asset to CONAM, an affiliate entity of The CONAM Group’s Fund IV, for an undisclosed price. Marc Ross and Hasina Ahmadi of CBRE represented the sellers in the deal. EVIVA Midtown offers studio, one- and two-bedroom floor plans. Apartments feature floor-to-ceiling windows, in-unit washers and dryers and stainless steel appliances. Amenities include a fitness center, community lounge, fire pit and outdoor courtyard. The property …
WOODINVILLE, WASH. — JLL Capital Markets has arranged a $77 million refinancing for The Schoolhouse District, a 264-unit mixed-use complex in downtown Woodinville, a northern suburb of Seattle. JLL represented the borrowers, MainStreet Property Group and HAL Real Estate, in securing the fixed-rate loan through AXA IM Alts. Seth Heikkila and Steve Petrie led the JLL Capital Market Debt Advisory team. The Schoolhouse District was built in 2021 on a 3.1-acre site. The community offers units in studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, work-from-home spaces, grocery delivery …
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