PHOENIX — Ulysses Development Group (UDG) has broken ground on Salt River Flats 2, a 168-unit affordable housing community located at 4027 S. 13th St. in Phoenix. The project will offer apartments to families and individuals earning up to 60 percent of area median income. Salt River Flats 2 is adjacent to Denver-based UDG’s first project in Arizona, Salt River Flats, which includes 196 multifamily units and opened in the spring of 2024. Funding was secured through a variety of sources, including the Arizona Industrial Development Authority, which provided $34.5 …
HANFORD, CALIF. — Dwight Capital has provided a $23 million HUD refinancing loan for borrowers Fresno Supreme Inc. and Santa Lucia Ventures, owners of Berkshire Crossing, a 92-unit community completed in 2022. Located in Hanford, approximately 33 miles south of Fresno, California, Berkshire Crossing features one-, two- and three-bedroom units and such amenities as a pool, hot tub, fitness center, package lockers and a clubhouse. Dwight Capital’s Keith Hoffman and Aaron Kirshtein led the transaction.
High Street Residential Breaks Ground on Mixed-Use Transit-Oriented Development in Beaverton, Oregon
BEAVERTON, ORE. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on a 369-unit mixed-use, transit-oriented apartment community at the former Cedar Hills Shopping Center in Beaverton, located approximately nine miles west of Portland, Oregon. Joint venture partners include SCOA Real Estate Partners and Lease Crutcher Lewis. Located on a 5.8‑acre site between Southwest Wilshire Street and Park Way, the project will replace a portion of the Cedar Hills Shopping Center, which closed earlier this year, and its surface parking with a high‑density, transit‑connected development. The …
RIFLE, COLO. — Evergreen Real Estate Group has completed the 60-unit Rifle Apartments in Rifle, approximately 183 miles west of Denver. The affordable housing community is comprised of a trio of three-story buildings that include one-, two- and three-bedroom units reserved for households earning between 30 and 80 percent of area median income (AMI). Of the 60 total apartments, 14 are designated as project-based voucher units for families who are earning at or below 30 percent of AMI. The development also is managed by Evergreen and is currently 95 percent …
OXNARD, CALIF. — JLL Capital Markets has secured an acquisition loan for approximately $55.8 million for Hines’ purchase of Tempo at Riverpark in Oxnard. Tempo at Riverpark is located at 450 Forest Park Blvd. in the Riverpark master-planned community. Residents live within walking distance of The Collection at Riverpark, a 650,000-square-foot retail center anchored by Whole Foods and Target. The property was built in 2016 and was 95.7 percent occupied as of December 2025. Amenities include a 24-hour fitness center, pool and hot tub, resort-style cabana seating, resident lounge with …
LOS ANGELES — Locally based affordable housing developer Thomas Safran & Associates has completed Vista Terrace, a 102-unit LIHTC community in the Panorama City neighborhood of Los Angeles. The project includes a mix of studio, two- and three-bedroom floor plans as well as 25 units set aside for renters formerly experiencing homelessness. Units feature heating and air conditioning, plank flooring and window coverings. Select units offer private patios or balconies. With onsite management, amenities include a library, community room, fitness center, laundry facility, landscaped outdoor areas, 55 parking spaces and …
LOS ALAMOS, N.M. — Revere Capital has completed development of The Hill, a 149-unit community in Los Alamos. The project cost was approximately $65 million. The Hill was completed after Revere assumed ownership during construction in 2025, working with Los Alamos County and the project’s general contractor. The Hill consists of one-, two- and three-bedroom homes priced from $2,400 to $4,200 per month in asking rents. Some units may be rented by the bedroom. The Hill’s amenity package includes a clubhouse, fitness center, resort-style pool, ramada with outdoor kitchens, two …
SANTA ANA, CALIF. — Affinius Capital has landed a $144 million construction loan to build The Carina in Santa Ana. JLL’s Jamie Kline, Charlie Vorsheck, Nick Englhard and Charlie Paul arranged the financing through lender QuadReal. Los Angeles-based developer Lowe is leading the project, which is underway with a completion date slated for the fourth quarter of 2028. The community is situated in MainPlace, which is an enclosed regional mall in Santa Ana that is being redeveloped into a mixed-use project with new housing, dining and retail elements. The project …
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How Distress, Debt Assumptions Are Rewriting Multifamily Pricing in Metro Atlanta
— By Matt White, managing director, Berkadia Across Metro Atlanta, distress and loan assumptions are no longer edge cases — they’re driving a meaningful share of multifamily transaction activity and quietly resetting the market’s pricing benchmarks. Deals that can successfully navigate legacy debt structures, rising operating costs and shifting return expectations are revealing where true clearing values lie and which capital stacks still work in today’s environment. The same forces driving distress in Dallas, Phoenix and Austin — floating-rate and bridge debt maturities, late-cycle construction and operating cost inflation — are …
BERKELEY, CALIF. — Hudson McDonald, a locally based builder, developer and investor specializing in apartments and student housing, has obtained $60 million to refinance two Berkeley communities, New Californian and The Metropolitan. CBRE arranged the 10-year, fixed-rate agency loan. Mike Walker, Jesse Weber, Brad Zampa and Andrew Behrens led the transaction. New Californian is a 148-unit mixed-use building that features 15,778 square feet of retail anchored by Trader Joe’s and Café Etoile. The property, located at 1988 Martin Luther King Jr. Way, was developed in 2010. Twenty-two of the apartments are …