Author

Lynn Peisner

Walden-Pond-Rendering
Affordable HousingDevelopmentFloridaNewsSoutheast

Alexander Goshen, Avanti Residential to Break Ground on Tampa-Area Workforce Development

by Lynn Peisner

NEW PORT RICHEY, FLA. — Alexander Goshen and Avanti Residential will break ground in the first quarter of 2026 on Walden Pond, a workforce housing development in New Port Richey, about 33 miles north of Tampa, Florida. The $30 million project is situated on about 9 acres on the site of a former mobile home park. Walden Pond will consist of three four-story residential buildings containing 125 units in a mix of studios and one-, two- and three-bedroom floor plans. Amenities include a dog park, pickleball court, children’s playground and …

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Karlyn
DevelopmentFinanceFloridaNewsSoutheast

Marcus & Millichap Arrange $91.4 Million in Construction Financing for Two Southwest Florida Projects

by Lynn Peisner

NAPLES, FLA. — Marcus & Millichap has arranged $91.4 million in construction financing for Plymouth, Minnesota-based Roers Cos. to build two projects in Naples. The properties are the 150-unit Vintana at Vanderbilt, located at 3375 Vanderbilt Beach Road, which is adjacent to The Ritz-Carlton, Naples golf course, and the 159-unit active adult community The Karlyn, which is located at 7576 Immokalee Road about four miles from Vintana at Vanderbilt. Both projects are slated for completion in 2027 and will feature high-end finishes and resort-style amenities. Marcus & Millichap’s New York City-based …

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Ellipse-Urban-Apartments
FinanceLeasing & MarketingNewsSoutheastVirginia

JV Secures $60 Million Loan to Expand Virginia Flexible Lease Program for Military

by Lynn Peisner

HAMPTON, VA. — Madison International Realty and The Accend Cos. have secured a $59.7 million loan. The floating-rate bridge loan was provided by Fortress Investment Group and arranged by JLL Capital Markets. The joint owners of Ellipse Urban Apartments plan to use the financing to expand a flexible-lease program called Home 4 Now, which currently covers 11 percent of the property’s 287 units. The owners plan to increase that share to 25 percent. Under the program, tenants can secure leases lasting between one and 12 months for move-in ready, furnished …

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Aery-Hermantown-Minnesota
FinanceMidwestMinnesotaNews

CBRE Arranges Loan for Aery in Duluth, Minnesota

by Lynn Peisner

HERMANTOWN, MINN. — CBRE has arranged a $25.5 million Fannie Mae loan for P&R Cos. to refinance Aery, a 147-unit property in Hermantown, a western suburb of Duluth, Minn. CBRE’s Minneapolis-based team of Billy Mork, Mike Vannelli and Joel Torborg arranged the permanent, fixed-rate loan. Aery was developed in 2021 and features studio, one-, two- and three-bedroom floor plans. Amenities include a fitness center, pet spa, storage, an outdoor rooftop deck and patio areas with grilling stations.

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247-Hancock
Affordable HousingDevelopmentFinanceNewsNortheast

M&T Provides $44.8 Million in Financing for Boston Mixed-Income Project

by Lynn Peisner

BOSTON — M&T Realty Capital Corp. has provided $44.8 million in funding for a 47-unit mixed-income development in the Dorchester neighborhood of Boston. Arx Urban and Boston Communities are the developers. Thirty-five units are designated affordable, which include 15 units supported by project-based vouchers. Rent restrictions were not disclosed. M&T’s financing package includes a $6.3 million Freddie Mac forward commitment, a $19.2 million construction loan and $19.3 million in tax credit equity. The 247 Hancock development will feature a six-story building with a mix of studios and one-, two- and …

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Fiederlein-William
Affordable HousingDevelopmentFinanceIndustry VoicesVirginia

What Developers Need to Know About State Tax Credits

by Lynn Peisner

By William Fiederlein The need for affordable housing has never been greater. The United States is currently experiencing a shortage of millions of affordable housing units for low-income renters. This shortage disrupts family stability and creates a negative economic ripple effect within already vulnerable communities. According to the National Low Income Housing Coalition’s 2025 report, The Gap: A Shortage of Affordable Homes, there is a national shortage of 7.1 million affordable and available rental homes for extremely low-income renters. It nets out to just 35 affordable and available homes for …

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127-W-Pomona-The-Monroe
CaliforniaDevelopmentFinanceNewsWestern

Affinius Capital Originates $76 Million Loan to Refinance Project in Monrovia, California

by Lynn Peisner

MONROVIA, CALIF. — Affinius Capital has provided a $76 million loan to Adept Urban Development. An IPA team led by Stefen Chraghchian arranged the financing. The refinancing loan will cover debt on The Monroe, a to-be-delivered, 232-unit development in Monrovia, located about 20 miles northeast of Los Angeles. A construction timeline was not disclosed. The Monroe will offer 55 studios and 122 one-bedroom, 52 two-bedroom and three three-bedroom floor plans. Amenities will include a pool with cabanas, a fitness center, fireplace, grilling stations and an outdoor lounge area on the …

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Charbern-Seattle
Investment SalesNewsWashingtonWestern

JV Acquires Pre-War Portfolio in Downtown Seattle for $35.2 Million

by Lynn Peisner

SEATTLE — Vista Investment Group and Sky Alps Capital have acquired a three-property, 215-unit portfolio in downtown Seattle for $35.2 million. The seller was an unnamed local investor and property manager who owned the buildings for about 30 years. JLL arranged a Freddie Mac loan for the buyers. The seller was represented by Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of the Seattle office of Kidder Mathews. The portfolio consists of three properties, all of which were developed in the early 20th century and are located within a …

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Define-Living-Park-Row
DevelopmentNewsTexas

Define Living Buys Land in West Houston for Park Row Project

by Lynn Peisner

HOUSTON — Define Living has acquired a 10-acre piece of land in Houston’s Energy Corridor, a mixed-use business district with a concentration of offices, housing, retail, recreation and other uses. The seller was Houston-based Wolff Cos., whose holdings within the district are known as Central Park and, according to the company, are among the last undeveloped parcels in the Energy Corridor area. With the acquisition by Define Living, Central Park now has one remaining parcel for sale. Locally based Define Living develops wellness-themed communities. The new project is called Define Living: …

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The-Alden-at-Cedar-Park
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale, Financing in Austin Suburb

by Lynn Peisner

CEDAR PARK, TEXAS — Newmark has arranged the sale of and financing for The Alden at Cedar Park, a 349-unit property in the Austin suburb of Cedar Park, located about 22 miles north of downtown. Newmark represented the undisclosed seller and procured the buyer, Weidner Apartment Homes. This transaction marks the Kirkland, Washington-based company’s first acquisition in the Austin MSA.  Newmark arranged a Fannie Mae acquisition loan for Weidner. Developed in 2020, The Alden at Cedar Park is a four-story community comprised of one- and two-bedroom floorplans. Amenities include a …

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