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Walker Point in Brunswick, Georgia
Build-to-RentDevelopmentGeorgiaNewsSoutheast

ARK Homes For Rent Completes BTR Community in Brunswick, Georgia

by Channing Hamilton

BRUNSWICK, GA. — ARK Homes For Rent has completed Walker Point, an affordable build-to-rent community situated on 25 acres in Brunswick, a city located on the southeast coast of Georgia. Walker Point features 237 townhomes in two-, three- and four- bedroom layouts. Leasing has begun at the community, and immediate occupancy is available. Each unit offers granite countertops, energy-efficient stainless-steel appliances and laundry room with washer and dryer included. Shared amenities include a clubhouse with a fitness center, yoga room, pool, outdoor lounge with barbeque and dining area and a dog park. …

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Chaparral Apartments
CaliforniaInvestment SalesNewsWestern

Northmarq Brokers $71 Million Sale of 296-Unit Property in Palmdale, California

by Channing Hamilton

PALMDALE, CALIF. — Northmarq has arranged the sale of Chaparral Apartments, a 296-unit property in Palmdale, 60 miles north of Los Angeles. A Florida-based real estate investment firm sold the asset to a Los Angeles-based real estate investment firm for $71 million. Chaparral Apartments includes 16 two-story garden-style buildings, totaling 213,664 square feet, on an 18.2-acre site. The unit mix includes 72 studios, 164 one-bedroom units and 60 two-bedroom units. Apartments feature fireplaces, balconies or patios, walk-in closets and energy-efficient appliances. Residents have access to amenities such as two pools, three …

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Village at Centerpoint Station
Build-to-RentDevelopmentFinanceNewsTexas

The Empire Group Receives $58 Million Construction Loan for BTR Project in San Marcos, Texas

by Channing Hamilton

SAN MARCOS, TEXAS — The Empire Group has received a $58 million construction loan for Village at Centerpoint Station, a build-to-rent (BTR) project in San Marcos, roughly halfway between San Antonio and Austin, Texas. Kyle McDonough, George Maravilla, David Stull and Noah Schott of Tower Capital originated the financing on behalf of the developer. Village at Centerpoint Station will consist of 270 single-family rental units on a 24-acre site in the Tech Corridor of Texas. The average unit size will be 1,047 square feet. Each residence will feature a private …

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Museum Parc
DevelopmentFinanceNew JerseyNewsNortheast

Co-Developers Secure $120 Million in Construction Financing for New Jersey Mixed-Income Project

by Channing Hamilton

NEWARK, N.J. — Co-developers LMXD and MCI Collective have received $120 million in construction financing for Museum Parc, a 250-unit mixed-income, mixed-use development located in downtown Newark. Merchants Capital arranged the financing, which consists of a $58 million Freddie Mac nine percent low-income housing tax credit forward permanent loan and a $62 million construction loan from Merchants Bank. Museum Parc will consist of a six-story building and a 12-story structure. Twenty percent of the residences at Museum Parc will be income-restricted. Forty-five units will be reserved for households earning at …

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Hub in New York City
FinanceInvestment SalesNew YorkNewsNortheast

Walker & Dunlop Arranges Recapitalization for $420 Million Apartment Tower in Brooklyn

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged the recapitalization of Hub, a 55-story rental tower in downtown Brooklyn. The borrower, Steiner NYC, bought out a majority stake in the high-rise asset from its equity partner, J.P. Morgan Asset Management (JPMAM), giving the company full ownership. The sales price was not disclosed, but Walker & Dunlop stated that the transaction was done at a valuation of $420 million for the tower. Located at 333 Schermerhorn St., Hub comprises 750 units in studio, one- and two-bedroom layouts. The building was …

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Genesee-Park
CaliforniaInvestment SalesNewsWestern

American Assets Trust Buys ‘Untouched 1980s’ San Diego Property

by Lynn Peisner

SAN DIEGO — American Assets Trust has acquired Genesee Park in San Diego for an undisclosed price. The seller, Hess Genesee Park LLC, was represented by CBRE’s Rachel Parsons, Derrek Ostrzyzek, Mike Murphy, Chris Tresp, and Kenji Thomas who also arranged the sale. The 192-unit Genesee Park was built in 1985 and has had one owner. According to Parsons, the community is an “essentially untouched 1980s asset that has been well-maintained.” The community consists of six buildings, each configured with three stories of residential over one level of gated parking. …

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Thirty-One Eleven Sunset in Flower Mound, Texas
DevelopmentNewsTexas

Realty Capital Residential Completes 16-Story Apartment Tower Near Dallas

by Channing Hamilton

FLOWER MOUND, TEXAS — Realty Capital Residential has completed the development of Thirty-One Eleven Sunset, a 16-story residential tower overlooking Lake Grapevine in Flower Mound, about 30 miles northwest of downtown Dallas. The property offers 207 units in a mix of one-, two- and three-bedroom floor plans. Monthly rates begin at $4,000. Amenities include a rooftop pool with a terrace and spa, bar and lounge, dining room, fitness center, golf simulator and guest suits that residents can reserve for visitors. The property also includes a five-level parking garage and 6,000 square …

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Cortland Riverside in Fort Worth, Texas
Investment SalesNewsTexas

IPA Brokers Sale of 374-Unit Community in Fort Worth, Texas

by Channing Hamilton

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cortland Riverside, a 374-unit property in Fort Worth. Built in 2020, the garden-style community consists of two- and three-story buildings. The property offers a mix of two- and three-bedroom apartments with an average size of 1,014 feet.  Tenants have access to amenities such as a pool with a sundeck, fitness center and private garages. Select units feature energy-efficient stainless-steel appliances and walk-in closets. Cortland Riverside was 95 percent occupied at the …

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The Larkspur in Victor, Idaho
Company NewsNew YorkNewsNortheastTexas

Franklin BSP Realty Trust to Acquire Mortgage Originator NewPoint Holdings

by Channing Hamilton

NEW YORK CITY AND PLANO, TEXAS — Franklin BSP Realty Trust Inc. has entered into a definitive agreement to acquire NewPoint Holdings JV LLC, a multifamily loan originator based in Plano. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions, including regulatory approvals. Launched in 2021, NewPoint has an existing servicing portfolio of $54.7 billion, including mortgages for market-rate multifamily, affordable housing, seniors housing, healthcare and manufactured housing properties across the nation. The company operates as both a direct lender and third-party …

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Haven Hoffman in Hoffman Estates, Illinois
IllinoisInvestment SalesMidwestNews

Bender Cos. Acquires Community Near Chicago for $77.3 Million

by Channing Hamilton

HOFFMAN ESTATES, ILL. — Bender Cos. has purchased Haven Hoffman, a 550-unit garden-style community in Hoffman Estates, about 33 miles northwest of downtown Chicago. Tricap Residential Group and Wolcott Group sold the asset for $77.3 million. Located at 725 W Bode Cir., Haven Hoffman offers a mix of studio, one- and two-bedroom floor plans. The average unit size is 746 square feet. Amenities include a pool, fitness center, clubhouse, work-from-home suites and picnic areas with grilling stations. The property was built in 1970. The previous ownership invested approximately $3.3 million into …

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