Author

Lynn Peisner

Upland-Park-Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Obtains $245M in Permanent Financing for First Phase of Miami’s Upland Park Project

by Lynn Peisner

MIAMI — Locally based development firm Terra has secured $245 million in takeout financing following the completion and stabilization of Phase I of Upland Park, a $1 billion, 47-acre mixed-use development in Miami. Slate Property Group was the lender. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planners Plusurbia Design, Upland Park will be built in multiple phases. Future phases will include additional mid-rise and garden-style apartments, retail and commercial space. Construction of the project’s second residential phase, which will add another 484 apartments, is …

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Dry-Creek-Ranch-Texas
Investment SalesNewsTexas

IPA Arranges Sale of Dry Creek Ranch in Metro Dallas-Fort Worth

by Lynn Peisner

NORTHLAKE, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Dry Creek Ranch, a 456-unit property in Northlake, a northern suburb of the Dallas-Fort Worth metro area. IPA’s Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware and Shelby Vosburg represented the seller, Western Securities, a Canadian real estate holding company, and procured the buyer, Denver-based Bow River Capital. Completed in two phases in 2007 and 2014, Dry Creek Ranch is a controlled-access, three-story, garden-style property with a pool, playground, basketball court, on-site laundry facility, business center and car …

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Waterford-Milpitas-California
Affordable HousingCaliforniaDevelopmentNewsWestern

Waterford Breaks Ground on 75-Unit Affordable Housing Development in Silicon Valley

by Lynn Peisner

MILPITAS, CALIF. — Waterford Property Co., in partnership with C&C Development, has broken ground on a 75-unit affordable housing project in Milpitas. The 4 percent Low-Income Housing Tax Credit (LIHTC) community has an estimated development cost of $47.6 million, according to the California Tax Credit Allocation Committee. The to-be-named property is slated for completion in early 2028 and is part of a larger residential planned community that also includes for-sale homes built by PulteGroup. Units will be reserved for families earning between 30 and 70 percent of area median income. …

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Cudahy-Commons-Wisconsin
Investment SalesMidwestNewsWisconsin

Peak Capital Acquires Cudahy Commons in Metro Milwaukee for $18.1M

by Lynn Peisner

CUDAHY WIS. — Greysteel has arranged the $18.1 million sale of Cudahy Commons, a 142-unit property at 2810 E. Edgerton Ave. in Cudahy, 7 miles south of Milwaukee. Greysteel represented the seller, an unnamed private investor. Peak Capital acquired the asset. Greysteel’s team was comprised of BJ Connolly, Doug Banerjee and Ryan Carter. Amenities include a pool, fitness center, clubhouse and dog park. According to Apartments.com, the community offers one- and two-bedroom units and was developed in 1978.

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Portofino-Place-Apartments-WPB
FloridaInvestment SalesNewsSoutheast

Fairfield Acquires 812-Unit Portofino in West Palm for $208M

by Lynn Peisner

WEST PALM BEACH, FLA. — San Diego-based Fairfield Residential has acquired the 812-unit Portofino Place in West Palm Beach. The asset sold for $208 million, and the seller was Atlanta-based Cortland Partners, according to the South Florida Business Journal. Located at 4400 and 4600 Portofino Way, the property is comprised of one-, two- and three-bedroom apartments as well as two-story lofts and four resort-style pools. Additional amenities include a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park, guest suite accommodations and multiple social …

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The-Samuel-San-Diego
CaliforniaDevelopmentFinanceNewsWestern

CEDARst Cos. Secures $80M Construction Loan for The Samuel in San Diego

by Lynn Peisner

SAN DIEGO — Chicago-based CEDARst Cos. has obtained an $80 million construction loan to develop The Samuel, a 197-unit community in San Diego’s North Park neighborhood. JLL’s Zach Kersten, Jack Wood and Ben Choromanski arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners. Located at 2821 Adams Ave., The Samuel will be an eight-story development comprised of studios, one- and two-bedroom units and a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this …

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Cascade-Apartments-Rochester
Investment SalesMidwestMinnesotaNews

Cushman & Wakefield Brokers $7.3M Sale of Cascade Apartments in Rochester, Minnesota

by Lynn Peisner

ROCHESTER, MINN. — Cushman & Wakefield has arranged the $7.3 million sale of Cascade Apartments in Rochester. Patina Management was the seller, and Black Swan Living was the buyer. Cushman & Wakefield’s Chris Collins, Lance Steiger, Evan Miller and Erin Salway represented Patina in the transaction. Located at 957 Pendant Lane NW, Cascade Apartments was developed in 2016 and is comprised of studios, one- and two-bedroom units. The property, about 4 miles northwest of the Mayo Clinic, features in-unit washers and dryers, electric vehicle charging stations and outdoor gathering spaces. …

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Valley-View-Paterson
Investment SalesNew JerseyNewsNortheast

JLL Brokers Sale of 100-Unit Valley View Apartments in Paterson, New Jersey

by Lynn Peisner

PATERSON, N.J. — Redwood Associates, an affiliate of Value Cos. Inc., has sold Valley View Apartments in Paterson, New Jersey, to EOM Equity for an undisclosed sum. JLL’s Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce represented the seller in the transaction. The 100-unit property was 99 percent occupied when the transaction closed. Built in 1965, Valley View Apartments is comprised of one- and two- bedroom units as well as on-site laundry and storage spaces for residents.

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The-Ovilla-Red-Oak
Investment SalesNewsTexas

Fogelman Properties Acquires Ovilla at Legacy Square in Metro Dallas

by Lynn Peisner

RED OAK, TEXAS — Thompson Realty Capital and Trez Capital have sold The Ovilla at Legacy Square in Red Oak, about 19 miles south of Dallas, to Fogelman Properties for an undisclosed sum. Institutional Property Advisors’ Michael Ware, Joey Tumminello, Drew Kile and Taylor Hill brokered the transaction on behalf of the sellers. The Ovilla at Legacy Square is a three-story, garden-style asset completed in 2023 on approximately 18 acres. Community amenities include a resort-style pool, clubhouse, outdoor gas grills and a dog park. Apartments feature granite countertops, stainless-steel appliances …

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Meadow-Glen-Village-Fairburn
DevelopmentGeorgiaLeasing & MarketingNewsSoutheast

Portman Completes, Begins Leasing Meadow Glen Village in Metro Atlanta

by Lynn Peisner

FAIRBURN, GA. — Portman has completed and opened Meadow Glen Village, a 332-unit development in the Atlanta suburb of Fairburn. The community is comprised of one- and two-bedroom units across nine residential buildings. Apartments feature stainless steel appliances, luxury vinyl plank flooring, walk-in closets and private balconies. The project also includes a central town green and 12,200 square feet of retail. Meadow Glen Village features a resort-style pool with grilling areas, a dog park and green spaces. Summit Contracting Group was the general contractor.

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