NEW YORK, NY – Walker & Dunlop, Inc. announced that it has arranged $70,000,000 in permanent financing for 21 West Street in New York, New York. The 33-tale tower includes 293 carefully designed studio, one-, two-, and three-bedroom apartments. Located in the Financial District of Manhattan, the property is proximate to the offices of major financial firms, including Goldman Sachs and American Express.
Jonathan Schwartz, Adam Schwartz, Aaron Appel, Keith Kurland, Michael Ianno, and Triston Stegall led the Walker & Dunlop team in arranging the financing for Rose Associates, a repeat client. Based in New York, Rose Associates is a leading multifamily and mixed-use real estate developer and operator that has overseen the successful residential and retail leasing at the property for nearly 30 years. The 12-year loan, provided by MetLife features an attractive fixed rate and interest-only payments for the entire term, which will ensure continued operating performance for years to come. The Rose Associates team was led by Marc Ehrlich, Chief Investment Officer and Michele Bengelsdorf, Head of Asset Management.
“Though the New York City rental market experienced headwinds during the COVID-19 pandemic, the market has successfully absorbed more than 60,000 new units that were delivered over the past four years. With vacancies at near record lows, this lending opportunity was very attractive to the capital markets,” said Walker & Dunlop’s Jonathan Schwartz.
21 West Street blends modern convenience and a classic landmark style with luxurious residences. The property’s amenity offerings include a roof deck, fitness center, resident lounge, and children’s playroom. With brilliant transit access, residents delight in convenient access to the rest of Manhattan as well as to Brooklyn, Queens, and New Jersey. New retail offerings, including West of Broadway, Brookfield Place, and Westfield’s World Trade Center mall dramatically increase area residents’ shopping and dining options.

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PHOENIX, AZ – Triumph Properties announced it has closed an $82.5mm total capitalization of a 287-unit multifamily development project, Aileron, located in the booming North Phoenix submarket. The land parcel of 9.87 acres was bought from Moderne Capital Partners, who will be Triumph’s development partner on the deal.
Triumph believes that Aileron’s location will benefit from the continued growth of the north Phoenix market including notable job announcements like the Taiwan Semiconductor Manufacturing Company (TSMC), who announced plans to open a 1,129 acre $12 billion factory. Aileron is 1 mile south of the Deer Valley Airport where Cox communications and Honeywell Aerospace have strong employment centers. Other notable nearby employers are Learn, Safeway Corporate and Albertsons.
Aileron will feature a mix of studios, one-, and two-bedroom units averaging 842 square fee. Unit finishes will include vinyl plank and carpet flooring, quartz countertops, tile backsplashes, wood cabinets, stainless steel appliances, in unit laundry, air conditioning and more. Amenities will include, pool, spa, clubhouse, fitness center, BBQ area, secured access and package center.
“We are excited about this project and our partnership with Moderne. Each of Moderne’s Partners brings tremendous experience and value to the table. We believe this will be the first of many projects together”, said Steve Feder, Principal at Triumph Properties.
“We are looking to make more strategic partnerships like we did on Aileron in the Southeast and Southwest as we expand our development pipeline. Suburban, garden-style apartments, surface parked or wrap product are what we are focused on”, adds Blake Brewer, Director of Acquisitions at Triumph Properties.

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KANSAS CITY, MO – Sherman Residential bought its third asset in the Kansas City metropolitan area, Kinsley Forest luxury apartments, a 2017-constructed Class A multifamily community located in Kansas City, Missouri.
The 328-unit property is located within 15 minutes of the Kansas City International Airport, downtown, and many top employers, including Cerner, T-Mobile, and the Social Security Administration. The Lakeview Terrace neighborhood gives students access to the NKC School District and several universities.
A northern Kansas City tree line surrounds this garden-style property and its inviting list of amenities, including: One to three-bedroom apartments with elevator access; Privacy conveniences such as in-unit washers and dryers, personal patios/balconies, and garages; The expansion of one s home into a welcoming clubhouse featuring a full demonstration kitchen, media lounge, and private conference room; Comprehensive community amenities, such as a 24-hour state-of-the-art fitness center with on-demand fitness, cabana-lined pool, outdoor fireside lounge, and gated pet park; A perfectly balanced location nestled within Northland forestry and just a minute from the entrance to Highway 169.
Garrett Salk, Sherman s Vice President, states: We are excited to expand our portfolio in the Kansas City market. The asset’s proximity to downtown and many of KC’s top employers drove us to pursue the property. We look forward to continuing to seek high-quality apartment communities in the KC market.
Sherman Residential has owned and professionally managed over 80 properties, including Kinsley Forest, and is currently celebrating its centennial year. Since 1922, the family-owned company, headquartered in north suburban Chicago, has successfully managed a nationwide portfolio of multifamily properties.

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