Author

Lynn Peisner

VillaDelMar-Colliers
CaliforniaInvestment SalesNewsWestern

Colliers Arranges Sale in Marina del Ray

by Lynn Peisner

LOS ANGELES — Colliers has arranged the sale of Villa Del Mar, a 198-unit waterfront community in the Marina del Rey neighborhood of Los Angeles. Colliers Vice Chair Kitty Wallace represented both the seller, original developer, Villa Del Mar Properties, and long-time operator, Far West Management, and a private buyer. Villa Del Mar is situated on approximately 5 acres with 1,500 linear feet of marina frontage and is one of 16 communities along the Marina del Ray harbor. The property was developed in 1972. Villa Del Mar properties has invested …

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Willows-at-Grande-Dunes
Investment SalesNewsSouth CarolinaSoutheast

Hamilton Point Buys Myrtle Beach Asset

by Lynn Peisner

MYRTLE BEACH, N.C. — Hamilton Point Investments has acquired Willows at Grande Dunes in Myrtle Beach. Cushman & Wakefield’s Alex McDermott, Austin Green, Charlie Gravina, Paul Marley and Rhodes Marley arranged the sale, representing the undisclosed seller in the deal. The asset was developed in 2023. Hamilton Point is a private equity investment firm based in Old Lyme, Connecticut, with a portfolio comprised mainly of Sun Belt properties. The company also recently bought Bridgewater Grand, a 300-unit property in Lakeland, Florida, from TrimCor.

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355-Exterior-Street-J-Frankl-Architects
DevelopmentFinanceNew YorkNewsNortheast

SCALE Lending Provides $305 Million Loan to Beitel Group for Bronx Development

by Lynn Peisner

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided Beitel Group a $305 million construction loan for an unnamed development at 355 Exterior St. in the Mott Haven neighborhood of South Bronx. Landstone Capital Group arranged the financing. The community will consist of two connected 40-story and 26-story residential towers totaling 515,000 square feet with 755 units. The Beitel Group demolished the existing buildings and completed excavation work after entering a contract to purchase the site in October 2024. Construction began in December …

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Paseo-LV-Collective
DevelopmentLeasing & MarketingNewsTexas

LV Collective Pre-Leasing Austin High-Rise

by Lynn Peisner

AUSTIN, TEXAS — Locally based multifamily and student-housing developer LV Collective, formerly known as Lincoln Ventures, has launched pre-leasing at Paseo, its new mixed-use property at 80 Rainey St. The 48-story tower will be fully complete and open by October. The developer broke ground on the project in 2023. Paseo offers 557 units as studios or in one-, two- and three-bedroom floor plans as well as four penthouses. Monthly asking rents start at approximately $1,900. Amenities include a pool, deck and bar on the 12th floor with views of Lady …

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The-Viridian-Boston
FinanceMassachusettsNewsNortheast

PGIM Funds $132 Million Loan for Abbey Group’s Viridian in Boston

by Lynn Peisner

BOSTON — PGIM Real Estate has provided a $132 million, floating-rate refinancing loan for The Abbey Group’s Viridian project in Boston. Amy Lousararian, managing director at JLL Capital Markets, arranged the financing. The Abbey Group opened the 342-unit, 20-story community in 2015. Apartments are offered as studios or in one-, two- and three-bedroom layouts as well as penthouse units. According to the property website, asking monthly rents for studios start at $3,015, and three-bedrooms start at $6,250. Amenities include a two-story atrium with 24-hour concierge service, two rooftop decks with …

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Flats-at-87Ten
Investment SalesNewsNorth CarolinaSoutheast

Vertex Buys Adaptive Reuse Asset in Charlotte

by Lynn Peisner

CHARLOTTE, N.C. — Vertex Investments has acquired Flats at 87Ten, a 96-unit property in Charlotte’s University City neighborhood, from Lucern Capital Partners for $9.7 million. Northmarq’s Ron Corrao, Eric Liebich, Matt Weinstein and Dane Lozier arranged the sale, representing the seller in the deal. The asset was originally developed in 2000 as a TownePlace Suites extended stay hotel and was redeveloped, by Lucern, as multifamily in 2023.

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Briggs-Village
Investment SalesNewsWashingtonWestern

IPA Arranges Sale in Olympia, Washington

by Lynn Peisner

OLYMPIA, WASH. — Nearon Enterprises has acquired Briggs Village from Glencrest Group. The 72-unit property is located with the 137-acre Briggs Village master-planned community in Olympia that includes retail, office and residential uses. The sales price was not publicly disclosed. Institutional Property Advisor’s Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino represented Nearon in the deal. Constructed in 2019, Briggs Village is three miles south of the Washington State Capitol campus and is connected to walking trails and six lakes.

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East-17th-Place-Costa-Mesa
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $9.6 Million Deal in Orange County, California,

by Lynn Peisner

COSTA MESA, CALIF. — CBRE has arranged a $9.6 million trade of a 22-unit property in Costa Mesa between two undisclosed parties. The asset is located at 313 and 325 East 17th Place in the Eastside neighborhood of Costa Mesa. The property has not been on the market for about 25 years. CBRE’s Dan Blackwell and Mike O’Neill represented the buyer, a private investor based in Fountain Valley, California. The seller was a private investor from Orange County, California. Built in 1961, the property comprises six one-bedroom units and 16 …

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7700-7720-Abbott-Avenue
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $9 Million Sale of Midcentury Miami Beach Property

by Lynn Peisner

MIAMI BEACH, FLA. — Bristol Realty Partners LLC has sold 7700-7720 Abbott Avenue, a three-property, 36-unit, corner-lot portfolio in Miami Beach for $9 million. Joseph P. Thomas, senior managing director investments, and Alec Demetriou and Adam Marcuvitz, investment specialists in Marcus & Millichap’s Fort Lauderdale office, marketed the property on behalf of the seller and procured the unidentified buyer. Built between 1940 and 1957, the three properties include 12 studios and 24 one-bedroom units on approximately 17,000 square feet of land.

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Arbello-San-Mateo-CA
CaliforniaDevelopmentFinanceNewsWestern

Martin Group, JPF Land $61 Million Construction Loan for Bay Area Project

by Lynn Peisner

SAN MATEO, CALIF. — IPA Capital Markets has arranged a $61 million loan for The Martin Group and JPF Capital, which are developing Arbello in San Mateo 19 miles south of San Francisco. The mixed-use project, located at 477 9th Ave., will include 120 apartments and 29,000 square feet of office space. According to Martin Group’s website, residential amenities will feature coworking space, a fitness center, a clubhouse, a central courtyard, a rooftop deck, bicycle storage and a dog park. Units will be offered as studios or as one- or two-bedroom …

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