Author

Lynn Peisner

Chapanoke-Raleigh
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Joint Venture Breaks Ground on $58M Affordable Housing Development in Raleigh

by Lynn Peisner

RALEIGH, N.C. — Gilbane, Harmony Housing Affordable Development Inc. and F7 International Development have broken ground on Chapanoke, a $58 million, 200-unit affordable housing community in Raleigh. Chapanoke’s floor plan mix includes one-, two- and three-bedroom units reserved for residents earning between 30 and 70 percent of area median income The development is supported by a public-private financing structure that includes tax credit equity, private financing and local public investment. Greystone Real Estate Capital is providing low-income housing tax credit equity, while Greystone Housing Impact Investors LP and Citi Community …

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Sean-Lichterman-Capstan
Architecture & DesignFinanceIndustry VoicesInvestment SalesOperations

Specialty Tax Incentives Benefit Stakeholders Beyond Developers

by Lynn Peisner

Property owners can leverage tax incentives to maximize yield on their real estate. That’s well-established. What’s not as commonly understood is the fact that those very incentives can also bring benefits to property brokers and designers, including architects and engineers. When applied appropriately through cost segregation, the same incentive can be a win for multiple parties.   Cost Segregation is a forensic, engineering-based analysis of a building’s components. Without a cost segregation study, most components of a multifamily property are depreciated over the IRS-prescribed 27.5-year recovery period for residential rental property. …

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Village-at-Grant-Square-Omaha
Investment SalesMidwestNebraskaNews

Eastham Capital, Bender Cos. Partner on Acquisition of Village at Grant Square in Omaha

by Lynn Peisner

OMAHA, NEB. — Eastham Capital and Bender Cos. have partnered on their 16th acquisition with the purchase of Village at Grant Square Apartments, a 204-unit community at 7349 Grant St. in Omaha. The asset was 93 percent occupied at the time of the sale with average monthly effective rents of $1,025. The new owners are planning unit renovations as well as enhancements to the clubhouse, common areas, roof and exteriors. Northmarq represented the seller, an undisclosed New York-based private investment group. According to Northmarq, the asset traded for approximately $17.2 …

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The Place-at-2120-Tucson
ArizonaInvestment SalesNewsWestern

IPA Arranges $18.1M Sale of The Place at 2120 in Tucson

by Lynn Peisner

TUCSON, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of The Place at 2120, a 202-unit property on Silverbell Road in Tucson. Scottsdale, Arizona-based The Founders Group sold the asset to Los Angeles-based AndMark for approximately $18.1 million. IPA’s Hamid Panahi and Clint Wadlund led the transaction. Built in 1986, on about 7 acres, The Place at 2120 is a 12-building property with one-, two- and three-bedroom floor plans. Community amenities include a pool and hot tub, fitness center, dog park, laundry facility and a playground.

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Ballantine-Phase-II-Newark
Affordable HousingDevelopmentFinanceNew JerseyNewsNortheast

Shorewood Underway on $190M Second Phase of Brewery Redevelopment in Newark

by Lynn Peisner

NEWARK, N.J. — Bogopa Enterprises and Shorewood Real Estate Group have secured construction financing and are underway on the development of Ballantine Phase II. The $190 million project is the second phase of Shorewood’s redevelopment of the former P. Ballantine & Sons brewery site, where beer was produced in Newark for more than a century before the brewery closed in 1972. Phase I, an $89.5 million, 280-unit development, was completed in 2025. A 57,500-square-foot Food Bazaar will anchor the ground floor of the seven-story, 501-unit second phase. Shorewood Real Estate …

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Ocoee-Townhomes-Florida
BerkadiaBuild-to-RentFinanceFloridaNewsSoutheast

Berkadia Arranges $65.5M Bridge Loan for Ocoee Townhomes in Metro Orlando

by Lynn Peisner

OCOEE, FLA. — Orlando, Florida-based Kimaya, the commercial real estate development subsidiary and affiliate of Park Square Enterprises, has obtained a $65.5 million bridge loan for Ocoee Village Townhomes, a 232-unit build-to-rent townhome community that opened in 2024 in Ocoee, 16 miles west of Orlando. The property is located within the Ocoee Village mixed-use development. Wesley Moczul of Berkadia Orlando led the transaction, with support from Mitch Sinberg, Brad Williamson, Scott Wadler, Matt Robbins and Jacob Kelly of Berkadia Miami. The team arranged the three-year, floating rate loan through Kayne …

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Marina-Shores-Long-Beach
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Truist Provides $152M for Long Beach Office Redevelopment

by Lynn Peisner

LONG BEACH, CALIF. — Truist has provided a $152 million construction loan to Carmel Partners for Marina Shores, a 390-unit mixed-income development underway at 6615 E. Pacific Coast Highway in Long Beach. The San Francisco-based investment and development firm is leading the six-story project, with completion slated for May 2029. The development will replace two older office buildings and surface parking with apartments and 5,351 square feet of ground-floor retail space. A third existing office building on the property will remain. Plans also call for 576 parking spaces, 196 bicycle …

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Perkins-Baltimore
Affordable HousingDevelopmentMarylandNewsNortheast

Fifth Phase of $398M Baltimore Public Housing Redevelopment to Begin this Fall

by Lynn Peisner

BALTIMORE — McCormack Baron Salazar and the Housing Authority of Baltimore City have closed on financing for the next 150 apartments at Perkins Square, advancing the $398 million redevelopment of the former Perkins Homes in East Baltimore. The two phases, representing approximately $87 million in development costs, will include 111 income-restricted and 39 market-rate units. Perkins Square is replacing Perkins Homes, a 629-unit public housing community built in 1942. Demolition began in 2021 as part of Baltimore’s broader Perkins-Somerset-Oldtown Transformation Plan, a 244-acre redevelopment backed by HUD Choice Neighborhoods funding …

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Northline-Seattle
Investment SalesNewsWashingtonWestern

FPA Multifamily Buys Northline in Seattle for $17.8M

by Lynn Peisner

SEATTLE — Rise Properties Trust has sold Northline, a 111-unit property in Seattle, to FPA Multifamily for approximately $17.8 million. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the seller and procured the buyer. Located in Seattle’s Bitter Lake neighborhood, Northline offers a resident lounge, dog park and a covered outdoor gathering area with grills, a fireplace and seating.

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Solaris-House-Austin
Investment SalesNewsTexas

Brandywine Realty Trust Sells Solaris House in Austin

by Lynn Peisner

AUSTIN, TEXAS — Brandywine Realty Trust (NYSE: BDN) has sold Solaris House Apartments, a 341-unit high-rise community in North Austin’s Domain submarket, to Weidner Apartment Homes for an undisclosed sum. The acquisition marks Weidner’s fifth owned asset in Austin. The 13-story community was completed in 2024 and is situated within Uptown ATX, a 66-acre mixed-use development. Amenities include a fitness center, coworking spaces, a pet spa and an outdoor lounge. The community’s rooftop pool deck features private cabanas and grilling stations. JLL arranged the sale on behalf of Brandywine and …

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