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Metro Parc in Hialeah, Florida
DevelopmentFloridaLeasing & MarketingNewsSoutheast

RKW Residential Expands Management Portfolio in Florida with 1,100 Units

by Channing Hamilton

MIAMI, FLA. — RKW Residential has added three new properties totaling 1,100 apartments to the company’s management portfolio in Florida. The firm will oversee the management and leasing of Metro Parc, The Atlantic by Soleste and Vive. Metro Parc is a 559-unit development in Hialeah, approximately 11 miles north of Miami. MG Developer and Baron Property Group are developing the project. Metro Parc is located within Metro Center, a mixed-use development that will feature roughly 2.3 million square feet of residential and retail real estate. The Atlantic by Soleste is a 253-unit project in …

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Oaks at Georgetown in Georgetown, Texas
Affordable HousingArizonaCaliforniaColoradoInvestment SalesNew YorkNewsNortheastTexasWestern

Standard Communities Purchases $1 Billion Affordable Housing Portfolio Across Four States

by Channing Hamilton

LOS ANGELES AND NEW YORK CITY — Standard Communities has acquired a portfolio of 60 affordable housing communities totaling roughly 6,000 units for $1 billion. The portfolio consists of traditional multifamily and seniors housing assets in Texas, Arizona, Colorado and California. The undisclosed seller developed many of the properties in roughly 2002. Standard states that it will invest more than $30 million in capital improvements and deferred maintenance across the portfolio. According to the company, no tenants will be displaced during renovations. Standard says negotiations with multiple government agencies, including HUD, Fannie Mae, Freddie …

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18-Property Portfolio in New York City
FinanceNew YorkNewsNortheast

Walker & Dunlop Arranges $110 Million Loan for Refinancing of 18-Property Portfolio in New York City

by Channing Hamilton

NEW YORK CITY — Walker & Dunlop has arranged a $110 million loan for the refinancing of a portfolio totaling 112 units across 18 communities in New York City. The portfolio also includes 29 commercial spaces. The properties are located in areas such as Manhattan’s East Village neighborhood and Brooklyn’s Park Slope district. The borrower was a partnership between Davean Holdings and Meadow Partners. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Sean Bastian, Christopher de Raet, and Stanley Cayre of Walker & Dunlop arranged the loan. The terms …

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210-220 E. 22nd Street in New York City
Investment SalesNew YorkNewsNortheast

Joint Venture Purchases 204-Unit Building in Manhattan for $104.5 Million

by Channing Hamilton

NEW YORK CITY — JLL has arranged the $104.5 million sale of a 204-unit property located at 210-220 E. 22nd Street in Manhattan’s Gramercy Park neighborhood. The building consists of 204 units across seven stories. The unit mix includes 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. The property was 95 percent occupied at the time of sale. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the …

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Rock Springs Duplexes in Round Rock, Texas
Build-to-RentInvestment SalesNewsTexas

RangeWater, Harbert Acquire 150-Unit Single-Family Rental Community Near Austin, Texas

by Channing Hamilton

ROUND ROCK, TEXAS — RangeWater Real Estate and equity partner Harbert US Real Estate have acquired Rock Springs Duplexes, a 150-unit single-family rental community located at 1338 Christopher Ave. in Round Rock, approximately 20 miles north of Austin. The seller and sales price were not disclosed.  Rock Springs Duplexes was built in two phases in 1985 and 1996. The unit mix includes 108 three-bedroom and 42 three-bedroom homes, which range from 968 to 1,280 square feet.  Each residence features an attached garage, driveway parking space and a fenced backyard. Units also …

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Build-to-RentDevelopmentFinanceMidwestNebraskaNews

Cavan Cos. Receives $87.5 Million in Construction Financing for Build-to-Rent Projects in Omaha, Nebraska

by Channing Hamilton

OMAHA, NEB. — Cavan Cos. has secured two construction loans totaling $87.5 million for the development of The Bungalows on Honeysuckle and The Bungalows at Whitehawk Lake, two build-to-rent (BTR) projects in Omaha. ORIX Corp. USA’s Real Estate Capital Group provided the financing. Timelines for completion were not disclosed. Combined, the two projects will feature 466 single-story homes in one-, two- or three-bedroom layouts. Each residence will include open floor plans, 10-foot ceilings, laundry rooms, walk-in closets and fenced back yards with artificial turf. Select homes will also have garages. Both communities will …

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Seaside Apartments in Santa Cruz, California
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $45 Million Sale of Affordable Housing Community in Santa Cruz, California

by Channing Hamilton

SANTA CRUZ, CALIF. — Marcus & Millichap has arranged the sale of Seaside Apartments, an 84-unit affordable housing community in Santa Cruz. The asset traded hands for $45 million. Seaside Apartments was developed in 1983. The property includes five two-story residential buildings, as well as one single-story office and amenities building. Amenities include a children’s playground, barbecue and picnic area, laundry facilities and carports. The unit mix includes 16 one-bedroom residences that are 626 square feet, 52 two-bedroom apartments that are 626 square feet and 16 three-bedroom townhouse units that …

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Arbor Trace Apartment Homes in Lynn Haven, Florida
FinanceFloridaNewsSoutheast

CBRE Arranges $99.7 Million Refinancing for Three Properties in Florida

by Channing Hamilton

LYNN HAVEN AND TALLAHASSEE, FLA. — CBRE has arranged three loans totaling $99.7 million for the refinancing for three communities in Florida. Two of the properties are situated in Lynn Haven, roughly 13 miles north of Panama City Beach, Florida. The third community is located in Tallahassee. The borrower was Tallahassee-based Arbor Properties Inc. The loans included a Fannie Mae loan for Arbor Trace Apartment Homes, a 336-unit property in Lynn Haven that was built in 2007; a Fannie Mae loan for Arbor Crossing at Buck Lake, a 208-unit community …

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Canfield Park at Fairfield Metro in Bridgeport, Connecticut
ConnecticutInvestment SalesNewsNortheast

Adirondack Capital Partners Brokers $107 Million Sale of 300-Unit Community in Bridgeport, Connecticut

by Channing Hamilton

BRIDGEPORT, CONN. — New York City-based brokerage firm Adirondack Capital Partners has arranged the $107.5 million sale of Canfield Park at Fairfield Metro, a 300-unit asset in Bridgeport, a coastal city located roughly 20 miles southwest of New Haven, Connecticut. Canfield Park at Fairfield Metro was constructed in 2023. The community features studio, one- and two-bedroom apartments that range from 300 to 1,200 square feet. Amenities include a pool, fitness center, rooftop terrace, game room, golf simulator, music and art studios, courtyard with grilling stations, sports bar, coffee lounge and …

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Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

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