FORT WORTH — JPI has broken ground on Jefferson Eastchase, a 398-unit community in Fort Worth. The complex will offer units in one-, two- and three-bedroom floor plans. Planned amenities include a pool with a deck and cabana, clubroom, fitness center and yoga studio, co-working lounge, pocket park and dog park. The first move-ins at the community are slated for the third quarter of 2026. The development team also includes DLR Group architects, Integrity Structural as the structural engineer, Kimley-Horn as the civil engineer and Land Design as the landscape …
NEW YORK CITY — Marcus & Millichap has arranged the sale of a portfolio of five buildings Manhattan’s East Village area. The portfolio totals 73 apartment units and six commercial spaces. The buildings primarily house market-rate units. Kushner Cos. was the seller. The buyer was not disclosed. Joe Koicim, Logan Markley, Matthew Berger and Zan Colin of Marcus & Millichap represented the seller in the deal.
PHOENIX — ABI Multifamily has arranged the $2.1 million sale of an eight-unit community located at 614-616 N.10th Ave. in Phoenix’s downtown area. The property was built in 1936 and 1954 and was renovated in 2023. Units come in one- and two-bedroom floor plans. Dallin Hammond, Mitchell Drake, Carson Griesemer, Tom Palestina, Andrew Arambula and Bryce Neagle of ABI represented the Arizona-based seller in the deal. Neither the buyer nor seller were disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $9 million sale of a 43-unit building in the Astoria neighborhood of Queens. The property was originally constructed in 1941 and offers studio and one-bedroom units. The building comprises 34,000 square feet across six stories. Louis Zarif, Shaun Riney and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors that requested anonymity.
LOS ANGELES — JLL Capital Markets has arranged $5.5 million in permanent, non-LIHTC Forward financing for Alvarado Apartments and Temple Apartments, two affordable housing complexes in Los Angeles. JLL worked on behalf of the borrower, Brilliant Corners, to secure the 15-year loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital. Anson Snyder led the JLL Capital Markets Debt Advisory team. Alvarado Apartments is located at 916 N. Alvarado Street and comprises 24 units. The 42-unit Temple Apartments is situated at 2812 W. Temple Street. Both communities …
RIALTO, CALIF. — National CORE has opened Metro View Apartments, an affordable housing community located at 164 W. Bonnie View Drive in Rialto, 56 miles east of Los Angeles. The property is affordable to households earning between 30 to 60 percent of the area median income, according to National CORE’s website. Metro View Apartments comprises 55 units, including one manager’s unit. Apartments come in one-, two- and three-bedroom layouts. Amenities include a community center, computer center, pool, outdoor play area, recreation areas and an outdoor area for teens. Financing sources …
CHICAGO — Essex Realty Group Inc. has arranged the sales of two buildings totaling 35 units in Chicago. Joe Kahlhammer, Robert Berman, Mike Anguiano, Daniel Shabsin, Jeremy DeMarco and Russell Tillery of Essex represented the seller in each deal. The first building offers 16 units and is located on South Indiana Avenue in Chicago’s Chatham neighborhood. The second asset comprises 19 units and is situated on South Drexel Avenue in the Greater Grand Crossing neighborhood.
Merchants Capital Provides $348 Million for Rehabilitation of Affordable Housing Complex in Brooklyn
NEW YORK CITY — Merchants Capital has provided a $348 million Fannie Mae loan for the rehabilitation of Reid Park Rock, an affordable housing community in Brooklyn. The financing complements a $635.6 million Permanent Affordability Commitment Together initiative from the New York City Housing Authority. The sponsor, a partnership consisting of BRP Cos., Fairstead and Urbane, will use the funds to renovate Reid Park Rock and deliver enhanced social services programs to the community. The partnership will also handle property management responsibilities. Reid Park Rock currently houses approximately 3,500 people …
DENVER — PlattPointe Capital has arranged a $4.3 million construction loan through a private debt fund to facilitate the development of a 13-unit build-to-rent community in the Sloan’s Lake submarket of Denver. The community will offer townhome-style units in two-bedroom layouts. Units will average 930 square feet in size. According to PlattPointe Capital, the project has taken approximately three years to become fully entitled and receive its permit-ready status. The developer was not disclosed.
LONG BEACH, CALIF. — CBRE has arranged the sale of an eight-unit property located at 2203 E. Bermuda Street in Long Beach. A private investor purchased the asset for $2.7 million. Dan Blackwell, Trey Mitchell and Jack O’Connor of CBRE represented the all-cash, non-exchange buyer based in Los Angeles County. The seller was also based in Los Angeles County. The property was built in 1985 on a 5,962-square-foot lot. The building offers two-bedroom, townhome-style units with patios or balconies. The property features remote-controlled garage parking, secured entry and a shared …