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Lynn Peisner

Alexander-Crossing-Yonkers
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Lenders Undaunted by Multifamily Market’s Struggles

by Lynn Peisner

In exclusive survey, lending community says apartment sector offers best financing opportunities in 2026, expresses confidence deal volume overall will surpass 2025 levels. By Matt Valley About half (46 percent) of France Media’s forecast survey respondents expect refinancing to make up the bulk of lending activity at their firms in 2026, followed by acquisition financing (27 percent). Pictured is Alexander Crossing, a 440-unit property in Yonkers, N.Y. Earlier this month, Walker & Dunlop arranged a $116 million Fannie Mae refinancing loan on behalf of the property owner, Rose Associates. (Image …

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Glengrove-Louisville
DevelopmentFinanceKentuckyNewsSoutheast

Highgates Group Obtains $96.7 Million ReFi for Three Kentucky Assets

by Lynn Peisner

LOUISVILLE, KY. — Walker & Dunlop has arranged $96.7 million in refinancing for three recently built assets in Louisville owned by Highgates Group. Jonathan Zilber, Joel Chetner and Josh Geller secured three floating-rate, interest-only loans from an institutional lender. Proceeds will be used to repay existing debt, fund closing costs and return capital to investors. The properties are comprised of Belmond Flats (240 units), Cedar Creek Flats (168 units) and Glengrove Apartments (232 units). Highgates is a development firm with offices in Kentucky, New Jersey and the United Kingdom.

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Lofts-at-1835-Arch-Philadelphia
FinanceInvestment SalesNewsNortheastPennsylvania

GY Properties Obtains $44 Million Fannie Mae Acquisition Loan for Philadelphia’s The Loft at 1835 Arch

by Lynn Peisner

PHILADELPHIA — Walker & Dunlop has arranged a $44 million Fannie Mae acquisition loan for GY Properties’ purchase of The Lofts at 1835 in Philadelphia. The sale was first announced in November. Originally built in 1928 and redeveloped in 2000, the 17-story, 191-unit building was sold by Brookfield Properties and acquired by an affiliate of locally based GY Properties, which owns a portfolio of assets concentrated in the Mid-Atlantic. According to the Philadelphia Business Journal, the total acquisition cost was $60 million. The new ownership plans to add units to …

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NOVEL-Arlington-Virginia
Affordable HousingBuild-to-RentDevelopmentInvestment SalesNewsNortheastWashington, D.C.

Crescent Communities, Rockefeller Group Partner on D.C. NOVEL Project

by Lynn Peisner

ARLINGTON, VA. — Crescent Communities, in its first partnership with Rockefeller Group, has closed on a land sale for the future development of NOVEL Arlington. Early plans for the community call for 493 apartments and 37 townhomes rented at both affordable and market rates. Rent caps were not disclosed. The site, 5.5 acres at 2480 South Glebe Road, is about 3 miles west of Ronald Reagan Washington National Airport. Two existing hotels on the parcel are expected to be demolished to make way for the LEED Gold-targeted project. Completion is …

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The-Irving-Denver
Affordable HousingColoradoDevelopmentNewsOperationsWestern

ULC Opens Its First Ground-Up Affordable Housing Development in Denver

by Lynn Peisner

DENVER — Urban Land Conservancy (ULC), a Denver-based affordable housing nonprofit, has completed construction and opened The Irving at Mile High Vista in Denver’s West Colfax neighborhood. Located at 3.270 W. Colfax Ave., the 102-unit community serves households earning up to 20 to 80 percent of area median income. With ULC’s ownership of the land through a community land trust, affordability is guaranteed for 99 years. The Irving is adjacent to the Denver Public Library’s Corky Gonzales branch. The architect was Studio Completiva, and the general contractor was Pinkard Construction. …

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Chandler-Coy-AGG
Affordable HousingFeaturesOperationsTechnology

Affordable Housing Providers Have a Legal Responsibility to Know How Their AI Tech Works

by Lynn Peisner

Artificial intelligence use cases are increasing across many sectors, including housing. Potential deployment of AI can involve a wide range of uses, including AI-enabled customer service, rental analytics and internal operations efficiency, among others. As adoption continues, and regulators and legislators focus their attention on AI, the regulatory landscape involving privacy and housing-related issues is becoming increasingly complex. AI tools can raise a wide range of privacy and security concerns. Multifamily owners who have a working knowledge of AI-related federal and state policy issues will be set up for success, …

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Willow-Glen-Illinois
FinanceIllinoisMidwestNews

The Lynd Group Secures $66 Million Refinancing for Willow Glen in Chicago Suburbs

by Lynn Peisner

WILLOW GLEN, ILL. — The Lynd Group has secured a $66 million refinancing for Willow Glen, a 224-unit community in the Chicago suburb of Willow Glen. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million Barclays-originated CMBS senior loan and an $8 million mezzanine loan provided by Ghisallo Capital. Lynd Development, in partnership with West Point Builders, built the project, which opened in 2023.  Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse …

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Residences-at-Prairiefire-Overland-Park
FinanceInvestment SalesKansasMidwestMissouriNews

Northmarq Arranges $65.7 Million Loan for Acquisition of Residences at Prairiefire in Overland Park, Kansas

by Lynn Peisner

OVERLAND PARK, KAN. — Northmarq has arranged a $65.7 million Freddie Mac acquisition loan for sponsor Price Brothers. The locally based owner/operator has acquired Residences at Prairiefire, a 426-unit community that was built in 2014. Neither a total purchase price nor a seller’s name was disclosed. Units are offered as one-, two- and three-bedroom floor plans. Amenities include a cyber café, business center, a pool and poolside lounge with a TV, outdoor kitchen space, a car-care center and package management services. The community is located in the Prairiefire mixed-used district …

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KeyBank-SLC
Affordable HousingDevelopmentFinanceNewsUtahWestern

KeyBank Secures $43.3 Million for Two Salt Lake City Affordable Housing Developments

by Lynn Peisner

SALT LAKE CITY — KeyBank has secured $43.3 million in financing on behalf of the Housing Authority of Salt Lake City for a redevelopment and an adjacent ground-up affordable housing construction project. The projects include Sunrise Metro, a renovation of an existing 100-unit, four-story structure with the addition of 18 new units to the second floor, and Atkinson Stacks, a 100-unit new-construction building. KeyBank Community Development Lending and Investment (CDLI) provided a $27.3 million construction loan. KeyBank’s Commercial Mortgage Group (CMG) also arranged permanent financing with a $16 million Freddie …

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Belvedere-Place-Baltimore
Affordable HousingDevelopmentFinanceMarylandNewsNortheast

WinnDevelopment Breaks Ground on $44 Million Affordable Housing Community in Baltimore

by Lynn Peisner

BALTIMORE — WinnDevelopment, along with nonprofit partners BRIDGES Community Development Corp. and Bon Secours Unity Properties, have secured financing for the $44 million Residences at Belvedere Place in northwest Baltimore. The development includes 83 units of affordable housing as well as 8,442 square feet of commercial space. Financing partners for the project include the Maryland Department of Housing & Community Development (MD-DHCD), which delivered Low-Income Housing Tax Credits (LIHTC), tax-exempt bond financing and a subordinate loan; the City of Baltimore, which provided additional gap financing; Bank of America, which is …

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