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Solesta SeaSide in Dania Beach, Florida
FinanceFloridaNewsSoutheast

Affinius Capital Provides $75 Million Refinancing for Solesta SeaSide in Dania Beach, Florida

by Channing Hamilton

DANIA BEACH, FLA. — Affinius Capital has provided a $75 million loan for the refinancing of Soleste SeaSide, a 340-unit property located at 4 N. Federal Highway in Dania Beach, about five miles south of Fort Lauderdale, Florida. Jonathan Schwartz, Adam Schwartz and Tom Melody of Walker & Dunlop arranged the financing on behalf of the borrower, The Estate Cos. Soleste SeaSide rises eight stories and offers a mix of studio, one-, two- and three-bedroom apartments. The property also features parking, a health club with a yoga/spin room, 12,800 square …

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Investment SalesNewsWashingtonWestern

Clarion Partners Purchases Willow Pointe in Vancouver, Washington, for $45.5 Million

by Channing Hamilton

VANCOUVER, WASH. — An entity associated with Clarion Partners has purchased Willow Pointe, a 191-unit property situated on 15 acres in Vancouver, for $45.5 million. The average unit size is 1,162 square feet. Anthony Palladino, Giovanni Napoli, Philip Assouad, Ryan Harmon and Nick Ruggiero of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, a local private partnership, and procured the buyer in the deal.

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FinanceInvestment SalesNewsSoutheastVirginia

Berkadia Provides $37 Million Acquisition Loan for Commonwealth Apartments in Richmond Suburb

by Channing Hamilton

MIDLOTHIAN, VA. — Berkadia has provided a $37 million Fannie Mae acquisition loan for Commonwealth Apartments, a 234-unit community located at 5401 Commonwealth Centre Parkway in Midlothian, 15 miles west of Richmond, Virginia. The property was built in 2022 and features a gaming lounge and fitness center, among other amenities. Patrick McGlohn, Brian Gould, Miles Drinkwalter, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia originated the agency loan on behalf of the buyer, Atlanta-based Mesa Capital Partners. Additionally, the Berkadia team of Drew White, Carter Wood and Cole Carns …

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Affordable HousingCaliforniaFinanceNewsWestern

Nuveen Real Estate Receives $400 Million from CalPERS for Affordable Housing Fund

by Channing Hamilton

SACRAMENTO, CALIF. — Nuveen Real Estate has received an allocation of $400 million from the California Public Employees Retirement System (CalPERS) for the company’s Nuveen Real Estate U.S. Affordable Housing Fund. Nuveen states that the fund, which launched in 2023, aims to preserve housing for renters earning less than 80 percent of the area median income (AMI), with a concentration of households earning less than 60 percent of AMI. This allocation follows CalPERS’ previous $100 million investment to the fund in June 2024, bringing CalPERS’ total commitment to the fund …

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FinanceNewsSouth CarolinaSoutheast

Greystone Provides $26 Million Refinancing for Reserve at Ridgewood in Myrtle Beach, South Carolina

by Channing Hamilton

MYRTLE BEACH, S.C. — Greystone has provided a $26 million Freddie Mac loan to Eskay Management for the refinancing of Reserve at Ridgewood, a 180-unit asset in Myrtle Beach. The non-recourse, fixed-rate loan features a five-year term and 30-year amortization, with interest-only payments for the first two years of the term. Avi Kozlowski of Greystone originated the financing on behalf of the borrower. Reserve at Ridgewood was originally constructed in 1998. The garden-style community consists of 15 residential buildings. Units come in two- and three-bedroom layouts. Tenants have access to …

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Heron View in Kenmore, Washington
Investment SalesNewsWashingtonWestern

Weidner Apartment Homes Sells Heron View in Kenmore, Washington, for $19.9 Million

by Channing Hamilton

KENMORE, WASH. — Weidner Apartment Homes has sold Heron View, a 72-unit community in Kenmore, roughly 14 miles north of Seattle. Wright Investment Properties purchased the asset for $19.9 million. Built in 1987, Heron View consists of three residential buildings and a leasing office surrounding a central parking lot. Units come in one- and two-bedroom floor plans, with an average size of 797 square feet. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and …

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Investment SalesNew YorkNewsNortheastPeople News

RM Friedland Hires Thomas Ashforth, Nathaniel Barnum as Co-Managing Directors

by Channing Hamilton

HARRISON, N.Y. — RM Friedland, a commercial real estate brokerage firm based in Harrison, about 30 miles north of New York City, has hired Thomas Ashforth and Nathaniel Barnum as co-managing directors of Connecticut. In their new roles, Ashforth and Barnum will oversee the firm’s expansion into the southern Connecticut commercial real estate market. Ashforth previously held senior roles at Lincoln Property Co., Transwestern, The Ashforth Co. and Hines, where he specialized in the sale and leasing of properties located in Connecticut. Prior to joining RM Friedland, Barnum held senior …

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Mi-Place at West Rancocas 108 in Mount Holly, New Jersey
Investment SalesNew JerseyNewsNortheast

Universe Holdings Purchases Mi-Place at West Rancocas 108 in Mount Holly, New Jersey, for $33.6 Million

by Channing Hamilton

MOUNT HOLLY, N.J. — Universe Holdings has purchased Mi-Place at West Rancocas 108, a 108-unit property in Mount Holly, 30 miles east of Philadelphia. Feenmoor Homes sold the asset for $33.6 million. Chez Eider and Andrew Townsend of Marcus & Millichap’s New Jersey office represented the seller in the deal. Mi-Place at West Rancocas 108 consists of 96 apartments and 12 two-story townhomes. Amenities include a clubhouse with a resident lounge, fitness center, game room, pool and dog park.

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Sterling Plaza Apartments in Laguna Beach, California
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $7.4 Million Sale of Sterling Plaza Apartments in Laguna Beach, California

by Channing Hamilton

LAGUNA BEACH, CALIF. — CBRE has brokered the sale of Sterling Plaza Apartments, a 12-unit community located at 2607 Solana Way in Laguna Beach, approximately 25 miles south of Anaheim, California. The asset traded hands for $7.4 million. Built in 1962 and 1963, Sterling Plaza Apartments consists of 9,823 square feet of rentable space. The community offers one- and two-bedroom floor plans, including a two-bedroom penthouse. Each apartment is individually metered for electricity. The property also features 14 parking spaces, including 11 carports and three open spaces, as well as …

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The Maddox in Buckeye, Arizona
ArizonaDevelopmentNewsWestern

Thompson Thrift Opens 252-Unit The Maddox in Phoenix Suburb

by Channing Hamilton

BUCKEYE, ARIZ. — Thompson Thrift has opened The Maddox, a 252-unit community located at 23683 W Yuma Road in Buckeye, roughly 40 miles west of Phoenix. The garden-style asset consists of seven buildings that each rise three stories, as well as 80 detached garages. Units come in one-, two- and three-bedroom layouts and average about 1,000 square feet. Community amenities include a clubhouse, heated pool, fitness center, Amazon package hub, outdoor game area, grilling stations, courtyards, firepits with seating area, a dog park, pet spa with grooming station and a …

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