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Mason at Van Dorn in Alexandria, Virginia
BerkadiaFinanceInvestment SalesNewsSoutheastVirginia

Berkadia Provides $157 Million in Acquisition Financing for Mason at Van Dorn Apartments in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — Berkadia has provided a $157 million Fannie Mae acquisition loan for Mason at Van Dorn, a 1,180-unit community in Alexandria. The borrower and purchaser was a partnership between Shoreham Capital and Bridge Investment Group. The seller was CIM Group, which acquired the asset in 2017. Walter Coker, Brian Crivella, Yalda Ghamarian and Bill Gribbin of Berkadia originated the financing on behalf of the buyers. Mason at Van Dorn was originally built in 1972. The complex consists of 14 buildings on a 30-acre site. Amenities include two pools, …

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A 323-unit community within Sand Canyon Plaza in Santa Clarita, California
CaliforniaDevelopmentFinanceNewsWestern

Kennedy Wilson Provides $95 Million Construction Loan for 259-Unit Development in Santa Clarita, California

by Channing Hamilton

SANTA CLARITA, CALIF. — Kennedy Wilson’s debt platform has provided a $95 million senior construction loan for the development of an apartment and build-to-rent project in Santa Clarita, approximately 33 miles northwest of Los Angeles. The borrower was a joint venture between Greystar Real Estate Partners and The Resmark Cos. Situated within the Sand Canyon Plaza master planned community, the project will comprise 259 apartments and 64 build-to-rent townhomes. Planned amenities include a clubroom, fitness center, courtyard, game lounge, co-working space, sky deck, pool and spa. The build-to-rent units will offer …

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2500 Cedar Springs Road in Dallas
DevelopmentInvestment SalesNewsTexas

Lincoln Property Co. to Develop Four-Acre Mixed-Use Development in Dallas

by Channing Hamilton

DALLAS — Lincoln Property Co. has acquired a four-acre site at 2500 Cedar Springs Road in Dallas’s Uptown neighborhood. The firm plans to develop a mixed-use community featuring 250 apartments, as well as 400,000 to 500,000 square feet of office space, a 200-room hotel, 25,000 square feet of food-and-beverage retail space and green spaces. A development timeline for the project was not disclosed. Lincoln Property Co. will handle leasing for the project in-house, with Jake Young and Worthey Wiles leading the effort.

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Hancock Bridge Square in Fort Myers, Florida
DevelopmentFinanceFloridaNewsSoutheast

Mast Capital, BLG Capital Advisors Secure $65 Million Construction Financing for Hancock Bridge Square in Fort Myers, Florida

by Channing Hamilton

FORT MYERS, FLA. — Mast Capital, in partnership with BLG Capital Advisors, has secured $65 million in construction financing for Hancock Bridge Square, a 320-unit development in Fort Myers. Situated on 14.5 acres of land at 13370 North Cleveland Avenue, Hancock Bridge Square will feature three- and four-story buildings. The garden-style community will include amenities such as a fitness center, lounge, entertainment kitchen and a pool with a sun deck. The lender was Centerbridge Partners, which served as agent for MassMutual Life Insurance Co. JLL Capital Markets represented the joint …

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Alexan West End in Long Beach, California
CaliforniaDevelopmentFinanceNewsWestern

CBRE Secures $200 Million in Construction Financing for Alexan West End in Long Beach, California

by Channing Hamilton

LONG BEACH, CALIF. — CBRE has arranged $200 million in financing for the construction of Alexan West End, a 600-unit community in downtown Long Beach. CBRE worked on behalf of the borrowers, R&V Management and Trammell Crow Residential, to secure the five-year financing, which consists of a $166 million construction loan from Kennedy Wilson and a $34 million mezzanine loan from a national life insurance company. Alexan West End will include four buildings, which will house a mix of studio, one-, two-, and three-bedroom units. Units average 767 square feet …

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Murphy Crossing in Atlanta
DevelopmentGeorgiaNewsSoutheast

Culdesac, Urban Oasis to Develop 20-Acre Mixed-Use Redevelopment in Atlanta

by Channing Hamilton

ATLANTA — Culdesac Inc. and Urban Oasis Development will develop Murphy Crossing, a mixed-use redevelopment in Atlanta’s Oakland City neighborhood. The project is currently awaiting approval from Atlanta BeltLine Inc. (ABI) and Invest Atlanta, the City of Atlanta’s economic development arm. A development timeline was not disclosed. Located at 1050 Murphy Ave., Murphy Crossing will span 20 acres and offer 1,100 residential units, as well as commercial and light industrial space. Of the total unit count, 30 percent will be designated as affordable housing for residents earning 60 to 80 …

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Landmark Apartments in Little Rock, Arkansas
ArkansasInvestment SalesNewsSoutheast

Cushman & Wakefield Brokers $78.8 Million Sale of Landmark Apartments in Little Rock, Arkansas

by Channing Hamilton

LITTLE ROCK, ARK. — Cushman & Wakefield has negotiated the $78.8 million sale of Landmark Apartments, a 372-unit community in Little Rock. Canyon View Capital purchased the asset from Landmark Apartments II LLC in two phases, paying $40.3 million in February 2023 and $38.5 million in February 2024. Martin Bynum and Cole Herget of Cushman & Wakefield represented the seller in the transaction. Landmark Apartments was constructed in two phases by VCC Construction. The first phase consisted of 196 units and was built in 2017. The second phase, which added an additional 176 units, …

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Tamarac Village in Tamarac, Florida
FinanceFloridaNewsSoutheast

Aztec Group Arranges $95 Million Refinancing for Tamarac Village Apartments Near Miami

by Channing Hamilton

TAMARAC, FLA. — Aztec Group has arranged a $95 million loan to refinance Tamarac Village, a 401-unit community in the Miami suburb of Tamarac. The borrower, Lotis Group, developed the property in two phases in 2020 and 2023. Situated on 12.7 acres, Tamarac Village offers one-, two- and three-bedroom floor plans. Units range in size from 800 to 1,485 square feet, according to Apartments.com. The property also includes a nearly 9,000-square-foot clubhouse. MF1 Capital provided the bridge financing. 

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1034-1042 Atlantic Ave. in Brooklyn
Investment SalesNew YorkNewsNortheast

Walker & Dunlop Arranges $109 Million Construction Loan for 247-Unit Community in Brooklyn

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged a $109 million construction loan for a 247-unit project located at 1034-1042 Atlantic Ave. in Brooklyn’s Prospect Heights neighborhood. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the five-year, interest-only loan through QuadReal Property Group. The borrower was EMP Capital Group. The development will consist of two adjourning buildings that will create a cross-block lot between Atlantic Avenue and Pacific Street. The unit mix will include 56 studios, 139 one-bedroom apartments …

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Prado in Santa Clara, California
CaliforniaFinanceInvestment SalesNewsWestern

Institutional Property Advisors Brokers $125 Million Sale of Prado in Santa Clara, California

by Channing Hamilton

SANTA CLARA, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of Prado, a 251-unit asset in Santa Clara. Alliance Residential acquired the property from Summerhill Apartment Communities for $125 million. Prado was built in 2021. The community offers one- and two-bedroom units with an average size of 843 square feet. Amenities include a pool and spa, fitness center, indoor and outdoor resident lounges, a business center, game room and barbeque area. Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni and Alex Tartaglia of IPA represented the seller and procured the buyer. …

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