ALLEN, TEXAS — FTK Construction Services has completed some light internal restructuring directed at ramping up activity in new markets and in new segments across the country. Known for its experience building Low-Income Housing Tax Credit (LIHTC) projects, the general contractor is aiming to increase market-rate multifamily construction projects. To this end, Randy Rivers, who first joined the company in 2024, has been promoted to vice president of sales and marketing. At the same time, Kim Goodman, who has been with the firm since 2018, will serve as vice president …
CHICAGO — Interra Realty has arranged the $7.34 million sale of a 13-unit, mixed-use building in Chicago’s Bucktown neighborhood. Interra Senior Managing Partner Joe Smazal and Director Mark Dykstra represented the buyer, Stocking Urban, LLC, led by Nicholas Stocking. Smazal and Dykstra also represented the confidential seller in the off-market deal. All residential units were fully occupied at the time of sale. The property features three two-bedroom, five three-bedroom and two four-bedroom layouts. In addition to the residential units, the building includes three commercial spaces, two of which were occupied …
NORTH CHARLESTON, S.C. — Eller Capital Partners has obtained a $58 million loan to refinance two properties, about half a mile apart from each other, in North Charleston. Walker & Dunlop’s Walker Layne, Matt Wallach, Stephen West, Austin Sneed and Tyler Roberts arranged the floating-rate interest-only bridge senior debt loan with capital provided by Bridge Investment Group. Ellevate St. Ives is comprised of 248 units. Ellevate North Charleston offers 192 units. Both properties participate in South Carolina’s affordable housing tax abatement program, with 75 percent of units restricted at 80 percent …
SEATTLE — CBRE has arranged the $59.3 million sale of Corner 63 Apartments in Seattle’s Roosevelt neighborhood. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented the seller, High Street Residential, the residential subsidiary of Trammell Crow Co., in the transaction. The buyer’s identity was not disclosed. Located at 6300 9th Ave. NE, Corner 63 is a seven-story, mid-rise community completed in 2023. The property offers a mix of studio, one- and two-bedroom units. Amenities include a rooftop terrace, fitness center, coworking lounge, dog run …
FREDERICK, MD. — JAG Management Co. has been selected by Couloir Ventures to manage the build-to-rent (BTR) townhome community The Foundry at Renn Quarter in Frederick. Couloir is a Bethesda, Maryland-based developer focused on building BTR projects in the metro Washington, D.C., area. JAG Management provides property management services for both Jefferson Apartment Group (JAG)-owned assets as well as third-party-owned communities on the East Coast. JAG is headquartered in McLean, Virginia. A portion of the residences at The Foundry at Renn Quarter are now complete, and residents have begun moving …
NEW YORK CITY — Greysteel has hired Drew McWilliams to lead affordable housing advisory and transaction efforts in New York and other regional markets. He will provide investment sales, debt and structured finance services as well as preservation and tax-credit syndication counsel to owners, developers and institutional investors. McWilliams joins Greysteel from New York City-based Ariel Property Advisors where he served as associate director.
ORLANDO, FLA. — Terian Development, the development arm of Terian Group, has broken ground on Emi on 50 in Orlando after securing a construction loan for an undisclosed sum through lender PCCP. JLL arranged the financing. The 336-unit mid-rise project is slated for completion in 2028. Emi on 50 includes studios, one-, two- and three-bedroom units as well as townhomes. Amenities feature a rooftop pool and terrace, a ninth-floor pickleball court, a courtyard, coworking spaces and a speakeasy-inspired lounge. The property will be managed by Willow Bridge Property Co.
RICHMOND, VA. — Middleburg and Harbor Group International have secured an undisclosed sum of construction financing to build Scottwood, a 299-unit property in Richmond. Construction is underway with completion slated for 2027. Truist Bank funded the loan. Henrico County has designated the area surrounding Scottwood as a special focus area for mixed-use development. The community will consist of two four-story buildings, one with 132 units and the other with 167, as reported by Richmond BizSense.
BUFFALO, N.Y. — JLL has arranged approximately $26 million in construction financing for Heritage Point, a mixed-use development in Buffalo that includes 61 apartments. The capital stack consists of a $14.8 million construction loan from lender X-Caliber and $11.2 million in Commercial Property Assessed Clean Energy (C-PACE) financing from CastleGreen Finance. Locally based Sinatra & Co. is the developer and will pursue LEED certification. Located at 120 Main St., Heritage Point will include two six-story properties. Completion is slated for the third quarter of 2027. The JLL Capital Markets team …
RICHARDSON, TEXAS — High Street Residential, a division of Trammell Crow Co., and Tokyo-based Tokyu Land Corp. have broken ground on a 281-unit property located at 110 E. Polk St. in Richardson. The City of Richardson provided an undisclosed sum of tax-increment financing. Completion is slated for the fourth quarter of 2027. Situated on a 3-acre site, the community will replace two existing buildings and a surface parking lot. Units will be built in studio through two-bedroom layouts, and amenities will include a clubroom, coworking areas, resort-style pool, grilling stations, …