Author

Lynn Peisner

Park-Residences-Plano
Active AdultInvestment SalesNewsTexas

Colliers Arranges Sale of Park Residences Plano

by Lynn Peisner

PLANO, TEXAS — Colliers has arranged the sale of Park Residences Plano, a 318-unit active adult community at 1109 Park Vista Road in Plano. Danny Miller of Colliers represented the undisclosed seller in the deal. The asset was purchased by an unidentified buyer. Completed in 2023 and situated on 31 acres, Park Residences Plano consists of 156 cottage-style residences and a 162-unit mid-rise building, offering one- and two-bedroom floor plans. A 10,000-square-foot clubhouse anchors the property, offering fitness, a 50-seat movie theatre, a hair salon and social spaces. Outdoor amenities …

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Laguna-Reserve-New-Orleans
FinanceLouisianaNewsOperationsSoutheast

The Lynd Group Secures $49M to Renovate Four New Orleans Properties

by Lynn Peisner

NEW ORLEANS — The Lynd Group has closed on $49 million in financing to support renovations for a 1,512-unit, four-property portfolio acquired out of bankruptcy in New Orleans earlier this year. The unit renovations will include new appliances and updated flooring and countertops. Privacy gates, security cameras and on-site security staff also will be added, as will new community services and amenities, such as pools, fitness centers, playgrounds, community centers, sports courts and after-school programming. Current rents across the portfolio range from approximately $950 to $1,430 per month. Following renovations, …

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Royal-Pointe-Virginia-Beach
Investment SalesNewsSoutheastVirginia

Bonaventure Buys Royal Pointe Apartments in Virginia Beach for $39.5M

by Lynn Peisner

VIRGINIA BEACH, VA. — Bonaventure has acquired Royal Pointe Apartments in Virginia Beach for $39.5 million. The purchase of the 208-unit property was completed through Bonaventure Multifamily Income Trust (BMIT) and incorporated a combination of tax-saving structures, including a partial 1031 exchange and a 721 exchange (UPREIT). Bonaventure worked with Greystone to assume the property’s existing financing as part of the acquisition. The seller was not specifically disclosed, but Featherstone acquired the property in 2022. Royal Pointe Apartments was built in 1987. Bonaventure plans to execute a series of enhancements …

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41-49-45th-Street-Queens
FinanceInvestment SalesNew YorkNewsNortheast

Marcus & Millichap Arranges $3.4M Acquisition Loan for Two Queens Properties

by Lynn Peisner

LONG ISLAND CITY, N.Y. — Marcus & Millichap has arranged $3.4 million in acquisition financing for an undisclosed buyer to purchase two 16-unit multifamily properties in Queens, located at 41-49 45th St. and 45-07 43rd Ave. in Long Island City. The properties are located adjacent to one another and feature a mix of one- and two-bedroom units. The ground floors of both buildings include retail space. Steve Filippo, managing director in Marcus & Millichap’s New York City office, secured 15-year financing at 70 percent loan-to-value with a national bank.

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Ivy-Gates-Petersburg
Investment SalesNewsSoutheastVirginia

Berkadia Arranges $17.7M Sale of Ivy Gates in Petersburg, Virginia

by Lynn Peisner

PETERSBURG, VA. — Greencove Group has sold Ivy Gates in Petersburg, about 30 miles south of Richmond, Virginia, to CCM for $17.7 million. SYM Properties has been named manager of the community under the new ownership. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia Richmond arranged the sale on behalf of the seller. Located at 101 Ivy Lane, Ivy Gates features two- and three-bedroom tri-level townhome apartments ranging from approximately 1,369 to 1,677 square feet. Residences feature private entrances, patio areas, separate dining spaces, hardwood flooring and …

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Chicora-Apartments-Myrtle-Beach
BerkadiaInvestment SalesNewsSouth Carolina

Marcus & Millichap Arranges $3.6M Sale of Myrtle Beach Asset

by Lynn Peisner

MYRTLE BEACH, S.C. — Marcus & Millichap has arranged the sale of Chicora Apartments, a 34-unit community in Myrtle Beach. The asset traded for $3.6 million. Neither party to the transaction was named. Will Graves Jr., Ryan Lipomi and Carson Ford of Marcus & Millichap represented the seller. Built in 1963, the property is located at 501 38th Ave. North on a 1.9-acre lot. The community totals approximately 31,000 rentable square feet and includes one-, two- and three-bedroom apartments with an average unit size of 912 square feet.

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570-Eldert-Lane-Brooklyn
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Begins on 213-Unit Affordable Housing Community 570 Eldert Lane in Brooklyn

by Lynn Peisner

BROOKLYN, N.Y. — Slate Property Group and Thorobird Cos., in partnership with Bangladeshi American Community Development & Youth Services (BACDYS), has begun construction of 570 Eldert Lane in Brooklyn. The project includes 213 units, 66 of which will be set aside for formerly homeless residents. The remaining units will be reserved for households earning up to 40 or 80 percent of area median income. Units are offered as one- through four-bedroom floor plans. The property was designed by Think! Architecture + Design PLLC. Upon completion, slated for summer 2028, the …

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Gran-Bay-Apartments-Jacksonville
FinanceFloridaNewsSoutheast

Mesa West Funds $50M Loan to Refinance Gran Bay in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — Mesa West Capital has provided Beachwold Residential a $50.5 million refinancing loan for Gran Bay Apartments in Jacksonville. The financing was arranged by Walker & Dunlop. Gran Bay Apartments was developed in 2015 and includes 308 unit and 14 buildings situated on 15.5 acres. A mix of one-, two- and three-bedroom units are offered alongside amenities such as a resort-style pool, fitness center, grilling areas, fire pits and a dog park.

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Maeve-Raleigh
FinanceNewsNorth CarolinaSoutheast

Capital Square Secures $105M Refinancing for Maeve in Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Walker & Dunlop has arranged a $105 million refinancing loan for Maeve, a high-rise in Raleigh owned by Capital Square. Alexandra Huffman, Justin Nelson and PJ Feichtmeier arranged the floating-rate, interest-only bridge loan through TPG Real Estate Finance. The 297-unit property, which includes studio through three-bedroom floor plans and about 10,000 square feet of ground-floor retail, was completed in 2025. Maeve was built in an Opportunity Zone proximate to the Boylan Heights neighborhood, Dorothea Dix Park and downtown. Amenities include a resort-style pool, rooftop lounge coworking spaces …

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Affordable HousingCompany NewsFinanceInvestment SalesNewsPeople News

Walker & Dunlop Expands LIHTC Team

by Lynn Peisner

BETHESDA, MD. — Walker & Dunlop has hired Jack Hodgkins and Stacie Nekus to its Low-Income Housing Tax Credit (LIHTC) equity team. Hodgkins joins the Bethesda-based commercial real estate finance and advisory services firm as senior vice president and head of LIHTC credit, based in Denver. Nekus joins as senior managing director and head of business development for LIHTC investor relations, based in Pittsburgh. Hodgkins will lead LIHTC credit strategy and underwriting, while Nekus will lead business development efforts for Walker & Dunlop Affordable Equity’s LIHTC investor relations team.

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