Multifamily commercial real estate news and analysis.
Preservation of Affordable Housing is launching a massive $40 million capital improvement campaign to renovate the 94-unit Corcoran Place Apartments. The comprehensive upgrade will bring new appliances, structural repairs, and an all-electric HVAC system to the West Side senior living community.
A 1.92-acre multifamily development site in Miami's Wynwood neighborhood has changed hands for $54 million, underscoring the persistent demand for residential build-to-rent opportunities in the city's trendiest submarkets. The transaction highlights the ongoing institutional interest in transforming underutilized commercial corridors near major transit arteries.
J.P. Morgan's Kurt Stuart is taking an unconventional approach to commercial real estate analysis, leading property tours combined with running sessions that showcase the firm's strategic focus on workforce housing in coastal markets. The initiative underscores the bank's conviction in supply-constrained markets with durable cash flows.
StoneHawk Capital Partners has obtained $56 million in HUD-backed construction financing for a new 269-unit apartment community in Garland, Texas, marking another significant investment in the thriving Dallas suburban corridor.
A joint venture between AVAD Capital and Etude Capital has acquired a 578-unit self-storage facility in Odessa, Texas, expanding their footprint in the energy-rich Permian Basin. The transaction was brokered by Versal, highlighting continued investor appetite for storage assets in strategic secondary markets.
A joint development partnership has secured a nine-figure refinancing package for Union Channel, marking another milestone in Brooklyn's ambitious Gowanus Wharf development. The deal underscores continued lender confidence in the neighborhood's residential fundamentals despite broader market headwinds.
Developer Sam Nazarian is differentiating his latest Miami condo project through high-profile culinary and entertainment partnerships with Sofia Vergara and Marc Anthony. The 35-story HQ Residences aims to stand out in an increasingly crowded South Florida residential market.
Palladium USA has closed on financing for a new 327-unit apartment community in McKinney's Craig Ranch Town Center, marking continued multifamily investment in the thriving Dallas-Fort Worth submarket. The four-story development will feature a mix of unit types wrapped around a concrete parking structure.
S3 Capital has provided $49 million in construction financing for a new multifamily development in Allenhurst, N.J., combining market-rate townhomes with affordable housing units. The project addresses growing demand for diverse housing options in Monmouth County's competitive residential market.
A newly constructed self-storage facility featuring boat and RV parking has traded hands in Crowley, marking another instance of cross-border investment in the thriving DFW metroplex. Marcus & Millichap facilitated the off-market transaction between an anonymous seller and a Canadian buyer.
In a notable Downtown Los Angeles office reshuffle, law firm Gordon Rees Scully Mansukhani is relocating from the iconic U.S. Bank Tower to the financially distressed One California Plaza. The move highlights the aggressive leasing strategies being employed in older Class-A buildings to capture tenants in a competitive market.
A local investment consortium has acquired a 296-unit vintage apartment building in one of Chicago's most sought-after neighborhoods, with plans for a substantial renovation program to reposition the asset.