News

JLL Arranges $65.5 Million Construction Loan for Denver Development

by Lynn Peisner July 3, 2025

DENVER — JLL Capital Markets has arranged a $65.5 million construction loan on behalf of Formativ, a locally based investment and development firm that is building 3850 Blake, a 310-unit property in Denver’s River North (RiNo) district. Formativ broke ground on the 16-story affordable-housing property in June and estimates construction will be complete in the third quarter of 2027. Units will be offered as a mix of studios and one-bedroom floor plans and are rent capped for residents earning between 70 and 100 percent of area median income. Amenities include …

July 3, 2025

Colorado Investment Sales News Western

Bell Partners Buys, Rebrands Montane Apartments Near Denver

by Lynn Peisner July 2, 2025

PARKER, COLO. — Bell Partners has acquired Montane Apartments in Parker, about 25 miles southeast of Denver. The property was acquired with a fund earmarked for value-add acquisitions. Bell Partners is planning unit upgrades. Neither the seller nor the sales price was disclosed. According to the Colorado Real Estate Journal, the asset was sold in 2019 for $120 million and was developed a year earlier by Alliance Residential. Montane Apartments has been renamed Bell Parker Ranch. The 400-unit, garden-style community is comprised of one-, two- and three-bedroom floor plans. Amenities …

July 2, 2025

Illinois Investment Sales Midwest News

Greenstone Partners Brokers Chicago Sale

by Lynn Peisner July 2, 2025

CHICAGO — Greenstone Partners has arranged the sale of 693 North Peoria St., a nine-unit property located in the River West neighborhood of Chicago. The property sold for approximately $4.3 million. Senior Director Jordan Multack represented the undisclosed seller and sourced a local 1031 exchange buyer. Units have washers, dryers and balconies.

July 2, 2025

Build-to-Rent Georgia Leasing & Marketing News Southeast

ARK Homes for Rent Opens Leasing at BTR Development Near Savannah

by Lynn Peisner July 1, 2025

PORT WENTWORTH, GA. — Build-to-rent developer ARK Homes For Rent has begun leasing Waterside at Rice Hope, a newly completed community 13 miles north of Savannah, Ga. Asking rents at the 103-unit townhome community range from $1,999 to $2,024, according to the property website. Units, which vary in size, have three bedrooms and two-and-a-half bathrooms, smart home technology and attached garages. Amenities include a resort-style pool, splash park and walking trails as well as a nearby 35-acre lake with kayaking, paddleboarding and fishing. Residents also have access to a clubhouse …

July 1, 2025

Illinois Investment Sales Midwest

Breneman Capital Buys The Aura in Chicago

by Lynn Peisner July 1, 2025

CHICAGO — Breneman Capital has acquired The Aura in Chicago’s Lakeview neighborhood from Base3 Development. The asset, located at 3821 N. Ashland Ave., was developed by Base3 in 2023 and consists of 48 units offered in floor plans ranging from one-bedroom, one-bath to three-bedroom, four-bath.

July 1, 2025

Investment Sales Massachusetts News Northeast

JMC Sells Lynnfield Commons

by Lynn Peisner July 1, 2025

LYNNFIELD, MASS. — John M. Corcoran & Co. (JMC) has sold Lynnfield Commons to a joint venture between L&G and Taurus Investment Holdings. JMC, which developed the property in 2009, will remain as the property manager for the 200-unit, garden-style community. Lynnfield Commons is in the North Shore submarket of Boston and offers one- and two-bedroom units with amenities that include a clubhouse, fitness center, pool and walking trails. One quarter of the units are designated affordable, with an 80 percent area median income cap, according to the property website. …

July 1, 2025

Affordable Housing California Development Investment Sales News Western

CGI+ Sells Torrance Development Site to JPI for $40 Million

by Lynn Peisner July 1, 2025

TORRANCE, CALIF. — CGI+ Real Estate Strategies has sold a shovel-ready, 4.9-acre multifamily development site in Torrance to JPI for $40 million. CGI+, a Los Angeles-based multifamily investment firm, acquired the property adjacent to Harbor-UCLA Medical Center at S. Vermont Avenue near 220th Street in 2022. After receiving entitlements for a six-story, 525-unit residential building — with 34 units reserved for households earning less than 30 percent of area median income — CGI+ planned to begin construction in 2023. However, rising interest rates and increases in labor and construction costs …

July 1, 2025

Investment Sales New Jersey News Northeast

CBRE Negotiates Morris Plains, New Jersey, Sale

by Lynn Peisner July 1, 2025

MORRIS PLAINS, N.J. — CBRE has arranged the value-add sale of The Highlands at Morris Plains, representing the undisclosed seller and procuring the buyer, a partnership between Shamah Properties and Sagard Real Estate. The asset price was not disclosed. CBRE’s team was led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer. The Highlands at Morris Plains was built in 2003 and includes 116 units and such amenities as a clubhouse with a fitness center, a dog run, a courtyard with grills, package lockers and a 175-space parking deck.

July 1, 2025

Berkadia Build-to-Rent Development Florida Investment Sales News Southeast

Maymont Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner June 30, 2025

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

June 30, 2025

Connecticut Investment Sales News Northeast

Jones Street Investment Partners Buys ReNew Danbury

by Lynn Peisner June 30, 2025

DANBURY, CONN. — FPA Multifamily has sold ReNew Danbury to Jones Street Investment Partners for an undisclosed sum. JLL represented FPA in the transaction. ReNew Danbury is a 192-unit property developed in 1971 in Danbury, known as Hat City for its hat-making history. It is about 70 miles northeast of New York City. The garden-style community features studios and one-, two- and three-bedroom units and amenities like a clubhouse with a theater, game room, coffee bar and fitness center as well as a pool, a playground and bike storage. JLL …

June 30, 2025

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