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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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The Shoreline in Brooklyn
DevelopmentFinanceNew YorkNewsNortheast

Dwight Mortgage Trust Provides $108.2 Million Bridge Loan for The Shoreline in Brooklyn

by Channing Hamilton

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided $108.2 million in bridge financing for The Shoreline, a mixed-use community in Brooklyn. The borrowers, Solomon Rubin and Chesky Rosen, will use the funds to refinance existing debt and complete the construction and lease-up of the project. The 31-story building includes 248 apartments, as well as 28,600 square feet of commercial space. Units come in studio, one- and two-bedroom floor plans. The Shoreline also features 25,000 square feet of amenities, including a pool, fitness center, game …

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Alta Chandler at The Park in Chandler, Arizona
ArizonaInvestment SalesNewsWestern

Institutional Property Advisors Arranges $94.5 Million Sale of Alta Chandler at The Park in Phoenix Suburb

by Channing Hamilton

CHANDLER, ARIZ. — Institutional Property Advisors (IPA) has negotiated the sale of Alta Chandler at The Park, a 291-unit complex in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition. IPA Capital Markets arranged $52 million in acquisition financing on behalf of the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only …

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The Preserve at Poinciana in Poinciana, Florida
Build-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Shoreham Capital Sells 175-Unit Build-to-Rent Community Near Orlando

by Channing Hamilton

POINCIANA, FLA. — Shoreham Capital has sold The Preserve at Poinciana, a 175-unit build-to-rent community currently under construction in the Orlando suburb of Poinciana. An unnamed state pension fund purchased the asset through a separate account managed by Heitman. The sales price was not disclosed. Tyler Swidler, Brett Moss and Matt Mitchell of Berkadia represented Shoreham Capital in the deal. The Preserve at Poinciana will feature three- and four-bedroom homes ranging 2,000 to 2,300 square feet in size. Amenities will include attached garages, a pool, green space, children’s playground, dog …

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