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110 Bergen Turnpike in Little Ferry, Jersey
DevelopmentFinanceNew JerseyNewsNortheast

SCALE Lending Provides $75 Million Bridge Loan for 294-Unit Project in Little Ferry, Jersey

by Channing Hamilton

LITTLE FERRY, N.J. — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $75 million bridge loan for a 294-unit project that is nearing completion in the New York City suburb of Little Ferry. Located at 110 Bergen Turnpike, the asset is expected to receive its temporary certificate of occupancy during the current quarter. The property will also feature 8,356 square feet of retail space. The borrower was New Jersey-based developer Capodagli Property Co. The loan features an 18-month term with two six-month extension options. The financing …

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Palladium San Antonio in San Antonio
DevelopmentNewsTexas

Palladium USA Breaks Ground on $75 Million Palladium San Antonio

by Channing Hamilton

SAN ANTONIO — Palladium USA, in partnership with the San Antonio Housing Trust Public Facility Corp. (SAHTPFC), has broken ground on Palladium San Antonio, a $75 million development in San Antonio. The four-story project is situated on an 18-acre site. Palladium East Foster Crossing will feature 288 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubroom with a mini kitchen. Pre-leasing will begin by Winter 2025. Cross Architects designed the community. Brownstone Group is …

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The Amble in Steamboat Springs, Colorado
ColoradoDevelopmentFinanceNewsWestern

JLL Capital Markets Arranges $72.4 Million Construction Loan for The Amble in Steamboat Springs, Colorado

by Channing Hamilton

STEAMBOAT SPRINGS, COLO. — JLL Capital Markets has arranged a $72.4 million construction loan for The Amble, a 42-unit project to be situated at the base of Steamboat Springs Ski Resort in Steamboat Springs. JLL worked on behalf of the borrower, East West Partners, to secure the financing through a regional bank.Leon McBroom, Mark Erland and Kevin Barron led the JLL Capital Markets Debt Advisory team. The Amble is located on a 1.6-acre site at 2300 Mount Warner Cir. The building will rise five stories. The property will feature 6,500 square feet …

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Parks at Hallandale in Hallandale Beach, Florida
DevelopmentFinanceFloridaNewsSoutheast

13th Floor Secures $83 Million Construction Loan for Parks at Hallandale in Hallandale Beach, Florida

by Channing Hamilton

HALLANDALE BEACH, FLA. — Miami-based 13th Floor Investments has secured an $83 million construction loan for Parks at Hallandale, a 398-unit project underway in Hallandale Beach, approximately 12 miles south of Fort Lauderdale, Florida. Development is slated to complete in 2026. CIBC Bank USA provided the loan. Scott Wadler and Alec Fox of Berkadia also arranged an undisclosed amount of preferred equity from Houston-based Marble Capital. Situated on 15.5 acres, Parks at Hallandale will offer studio, one-, two- and three-bedroom market-rate and workforce housing units. Planned amenities include a clubhouse, …

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1617 Sherman in Madison, Wisconsin
DevelopmentFinanceMidwestNewsWisconsin

Vermilion Development, Quartz Lake Capital Secure $95 Million Debt and Equity Financing for 309-Unit Project in Madison, Wisconsin

by Channing Hamilton

MADISON, WIS. — A joint venture between Vermilion Development and Quartz Lake Capital has secured $95 million in debt and equity financing for a 309-unit development located at 1617 Sherman Ave. in Madison. JLL Capital Markets negotiated $33.3 million in joint venture equity for the project through Clarion Partners. 1617 Sherman will comprise six buildings featuring apartments and townhome-style units. The average unit size is 793 square feet. Community amenities will include a fitness center, bike storage, pet spa, coworking space, breakout rooms, community garden and a rooftop terrace featuring …

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Paragon at Old Town in Monrovia, California
CaliforniaInvestment SalesNewsWestern

Institutional Property Advisors Brokers $87 Million Sale of Paragon at Old Town in Monrovia, California

by Channing Hamilton

MONROVIA, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of Paragon at Old Town, a 163-unit community in Monrovia, 20 miles northeast of Los Angeles. Sequoia Equities sold the asset to SCS Development Co. Inc. for $87.3 million. Joseph Grabiec, Kevin Green and Gregory Harris of IPA represented the seller and procured the buyer. Paragon at Old Town offers amenities such as a resident lounge, fitness center, game room, pool and spa with private cabanas, outdoor lounges and courtyards. Units range from 744 square feet to 1,247 square …

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Westrich in Columbus, Ohio
Affordable HousingDevelopmentMidwestNewsOhio

CASTO Begins Development of $70 Million Westrich in Columbus, Ohio

by Channing Hamilton

COLUMBUS, OHIO — CASTO has begun the development of Westrich, a $70 million project in the Franklinton neighborhood of Columbus. Westrich is an expansion of the adjacent River & Rich apartment community, but will be marketed as a separate entity. Once completed, the community will comprise 234 apartment units. Westrich will comprise a four-story building with 114 units and a five-story building with 120 units atop 8,000 square feet of ground-floor commercial spaces. The majority of units at the property will be reserved for tenants earning below 100 percent of …

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Iris O4W in Atlanta
GeorgiaInvestment SalesNewsSoutheast

Equity Residential Purchases Iris O4W in Atlanta for $126.3 Million

by Channing Hamilton

ATLANTA — CBRE has arranged the $126.3 million sale of Iris O4W, a 320-unit community in Atlanta’s Old Fourth Ward neighborhood. Equity Residential (NYSE:EQR) purchased the property from the developer, Trammell Crow Residential, and equity partner, Diamond Realty Investments. Shea Campbell, Ashish Cholia, Kevin Geiger, Colleen Hendrix and Don Hoffman of CBRE’s Southeast Multifamily team represented the sellers in the deal. Located at 652 Angier Ave. NE, Iris O4W was built in 2023. The community offers studio, one- and two-bedroom apartments with an average size of 860 square feet. Amenities include …

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Parkline in Grandview Heights, Ohio
DevelopmentMidwestNewsOhio

Nationwide Realty Investors to Construct $100 Million Parkline in Grandview Heights, Ohio

by Channing Hamilton

GRANDVIEW HEIGHTS, OHIO — Nationwide Realty Investors has unveiled plans to build Parkline, a $100 million project located at the Grandview Yard mixed-use development in the Columbus suburb of Grandview Heights. Construction on the community is slated to begin late this year, with delivery slated for 2026. Once completed, Parkline will comprise 385 apartments. The community is designed in an “s-shaped” configuration in order to maximize views of the park and courtyards. The property will also feature first-floor amenities, commercial space and an adjacent parking structure, bringing the neighborhood total …

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20 Exchange Place in New York City
Investment SalesNew YorkNewsNortheast

The Dermot Co., PGGM Acquire 57-Story Residential Tower in Manhattan

by Channing Hamilton

NEW YORK CITY — A partnership between locally based investment firm The Dermot Co. and Dutch pension fund PGGM has acquired 20 Exchange Place, a 57-story high-rise community in Manhattan’s Financial District, in an off-market transaction. The seller was a partnership led by DTH Capital, a New York City-based owner-operator focused on converting office buildings into residential complexes. The property was originally built in 1931 as the headquarters of City Bank Farmers Trust Co., a national bank which later became Citibank. Approximately 20 years ago, the building was converted into …

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