LOS ANGELES — Fairfield has completed the development of Chroma Apartment Homes, a 275-unit community in the Los Angeles neighborhood of Canoga Park. Located at 6709 Independence Ave. #100, Chroma Apartment Homes offers units in studio, one- and two-bedroom layouts. Amenities include a rooftop lounge, pool and spa, courtyards, a fitness center, co-working lounge, pet park and pet wash station.
BONITA SPRINGS, FLA. — Madison Communities and Heitman have secured a $44 million construction loan for Madison Bonita Springs, a 252-unit project in the southwest Florida city of Bonita Springs. Patterson Real Estate Advisors arranged the funds through First Citizens Bank on behalf of the developers. BenCo is the general contractor. The development team plans to deliver the community by the end of 2025.
UNIVERSITY PLACE, WASH. — Berkadia has negotiated $21.5 million in financing for the purchase of The Duo Apartments, a 104-unit complex in the Tacoma, Washington suburb of University Place. The Duo Apartments offers studio, one- and two-bedroom floor plans ranging from 472 square feet to 989 square feet in size. Amenities include a recreation room, fitness center, outdoor patio/barbecue area, off-street parking and for-rent garages. Bayview provided the $21.5 million, five-year, fixed-rate loan with flexible prepayment terms. Michael Manolides and Robert Doxsee of Berkadia Seattle, along with Michael Basinski and Brad …
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $75.2 million in bridge financing for 210 Clarkson, a 165-unit community in the Prospect Lefferts Garden neighborhood of Brooklyn. The financing will be used to refinance existing construction debt for the borrower, a New York family office. Meir Kessner and David Eisen at Sevenstone Capital brokered the deal. Recently completed in 2023, 210 Clarkson offers 115 market-rate units and 50 affordable units, as well as 19,500 square feet of ground-floor retail space. Apartments come in …
HOUSTON — Palladium USA, in partnership with the Harris County Housing Finance Corp. (HCHFC), has broken ground on Palladium Houston Ella, a $35 million complex in northeast Houston. The community was designed by HEDK Architects. Brownstone Construction is the general contractor. Regions Bank provided $18 million of equity and Harris County provided $4.3 million in ARPA funding for the project. Situated at 13420 Ella Blvd., Palladium Houston Ella comprises 146 units on a 7-acre site. Units come in one-, two-, and three-bedroom floor plans. Amenities include a pool, fitness center, …
FRAMINGHAM, MASS. — Marcus & Millichap has arranged the $16.5 million sale of Rose Garden Apartments, a 72-unit community in the western Boston suburb of Framingham. Evan Griffith, Tony Pepdjonovic and Jeremy Buckley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Rose Garden Apartments rises three stories. The building offers studio, one- and two-bedroom units, 21 of which were recently renovated.
KILLEEN, TEXAS — The NRP Group has finished constructing Station42, a 368-unit mixed-income community in the central Texas city of Killeen. Station42 offers units in one-, two- and three-bedroom layouts. More than half of the total unit count is reserved for households earning 80 percent or less of the area median income. Amenities include a pool, clubroom, fitness center, gaming area, communal kitchen, coworking lounge, dog park, outdoor dining and entertainment areas and package handling services. Partners on the project included The City of Killeen Public Facility Corp., J.P. Morgan …
DENVER AND CASTLE ROCK, COLO. — Affiliates of Harbor Group International has acquired a portfolio in Colorado for $132.5 million. The portfolio consists of two recently-constructed properties, Ladora Modern and Prospector Modern. Both communities were completed in December 2023 and offer amenities such as pools, fitness centers, and dog parks. Ladora Modern is a 196-unit community in Denver. Units come in two- and three-bedroom floor plans and average 1,000 square feet in size. The property was 85 percent occupied at the time of sale. Prospector Modern is a 238-unit property …
DALLAS — JLL Capital Markets has arranged the $175 million facility refinancing for a three-property, 882-unit portfolio. The borrower was an investment vehicle sponsored by Willow Bridge Property Co., a full service residential property company headquartered in Dallas. Andy Scott, Michael Cosby, Bo Beidleman and Ryan Pollack of JLL arranged the loan through Fannie Mae and closed on the five-year, fixed-rate initial tranche. The financing will be used to seed a larger programmatic financing vehicle, allowing for flexibility in future transactions.
TOMBALL, TEXAS — Colliers has arranged the sale of Oak Bend Place, a 152-unit complex in the northern Houston suburb of Tomball. Chip Nash, Bob Heard, Kitty Wallace and Jaleel Adatia of Colliers represented the seller, Alphil Investments, in the deal. The buyer was not disclosed. Oak Bend Place was originally built in 1984. According to Apartments.com, the property offers two-bedroom apartments, as well as amenities such as a pool, pet play area and outdoor grilling and dining stations.
