Author

Lynn Peisner

310-West-Huron-Chicago
DevelopmentFinanceIllinoisMidwestNews

JLL Arranges $44.1M in Construction Financing for Chicago’s 310 West Huron

by Lynn Peisner

CHICAGO — JLL has arranged $44.1 million in construction financing for the joint venture developers of 310 West Huron, a 149-unit project in Chicago. The financing consisted of a $38.1 million loan provided by CIBC and $6 million in preferred equity from N3 Capital Management. Third Coast Real Estate and N3 Capital Management are the developers behind the nine-story project, which is situated in the River North neighborhood. Units will be offered as studios, one- and two-bedroom floor plans, including 11 two-story units with private patios. Amenities include a rooftop …

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HARMON-Clemmons-Wake-Forest
DevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Buys Land for Future JV Project With Heitman in Winston-Salem, North Carolina

by Lynn Peisner

WINSTON-SALEM, N.C. — Crescent Communities, in partnership with Heitman, has closed on a 21-acre land sale for the future development of HARMON Clemmons, a 154-unit build-to-rent community in Winston-Salem. The joint venture partners plan to break ground later this year. The site will be comprised of two-, three- and four-bedroom townhomes as well as a pool with a clubhouse and cabanas, a multipurpose green space and a lawn for outdoor events. Hagen Engineering will serve as the civil engineer, LandDesign as the landscape architect, Vinyet as the townhome architect, Cooper …

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El-Jardin-Brownsville
Affordable HousingDevelopmentNewsTexas

Hotel Built in 1920s Reopens as Affordable Housing in Brownsville, Texas

by Lynn Peisner

BROWNSVILLE, TEXAS — The Housing Authority of the City of Brownsville has opened El Jardin, an affordable housing LIHTC adaptive reuse project that converted a historic hotel, built in 1927, into 44 units of rental housing. Income caps range from 50 to 60 percent of area median income. Before the project began, the hotel sat vacant for 40 years. It operated as a hotel until the 1980s. Amenities at the renovated property include a fitness center, community garden, a play area, communal kitchen, barbecue and fitness area, a business center …

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AnitaCoy-Austin
Affordable HousingDevelopmentNewsTexas

The NRP Group Breaks Ground on Anita Ferrales Coy Redevelopment in Austin

by Lynn Peisner

AUSTIN, TEXAS — The NRP Group, in partnership with Austin Independent School District (AISD), has broken ground on Phase I of the Anita Ferrales Coy school-to-housing redevelopment in East Austin. A school operated on the 18 acres at 4812 Gonzales St. from 1916 to approximately 2018, after which time the property was used as an alternative learning center. AISD selected The NRP Group as a redevelopment partner in 2023, and last year, AISD was relocated to prepare for redevelopment. The first phase includes 341 units, while the second phase, estimated …

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Tributary-Raleigh
DevelopmentNewsNorth CarolinaSoutheast

Kane Realty Breaks Ground on Tributary Apartments in Raleigh, Announces 28-Acre Expansion and Next Phase of North Hills Innovation District

by Lynn Peisner

RALEIGH, N.C. — Locally based Kane Realty Corp. (KRC) has broken ground on Tributary, a 332-unit community within the North Hills Innovation District (NHID) in Raleigh. Tributary, designed by the Washington, D.C.-based architectural firm of Hickok Cole, will include 6,000 square feet of ground-floor retail, two courtyards, a digital content creation studio and a wellness center. The general contractor is John Moriarty & Associates. Completion is slated for spring 2028. NHID is a walkable, mixed-use destination situated around a tributary of Big Branch Creek and preserved wetlands. KRC also announced …

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Vivian-Charlotte
DevelopmentNewsNorth CarolinaOperationsSoutheast

Move-Ins Begin at Charlotte’s Queensbridge Collective Luxury High-Rise

by Lynn Peisner

CHARLOTTE, N.C. — First move-ins are underway at VIVIAN, a 42-story building developed by Riverside Investment & Development and Woodfield Development. The skyline-changing project is comprised of 409 studios, one-, two- and three-bedroom units. The architect was Goettsch Partners. Interior design was led by Shelton Taylor Associates, with construction completed by Clark Construction Group. Amenities are distributed across multiple levels of the building, including a ninth-floor fitness center with indoor and outdoor components, a 10th-floor resident lounge featuring bowling and virtual golf, and a 42nd-floor rooftop pool deck with grilling …

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Allure-Suitland
FinanceInvestment SalesMarylandNewsNortheast

Colliers Arranges $232.7M in Financing for Maryland Acquisition

by Lynn Peisner

LARGO AND SUITLAND, MD. — Colliers’ Debt & Structured Finance has arranged $232.7 million in acquisition financing for a three-property, 1,225-unit portfolio located in Prince George’s County, Maryland. The portfolio, which was acquired by 29th Street Capital and Willton Investment Management, consists of Allure Apollo, Aspire Apollo and Ascend Apollo. The transaction involved the reassignment of existing tax increment financing (TIF) agreements associated with the Allure and Aspire properties, which are adjacent communities in Suitland.  Ascend is in Largo, about 10 miles southwest.

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Independence-Place-Prince-George
Investment SalesNewsSoutheastVirginia

Northmarq Arranges $39M Sale of 230-Unit Property in Prince George, Virginia

by Lynn Peisner

PRINCE GEORGE, VA. — Aspen Oak Capital Partners has acquired Independence Place Apartments in Prince George for $39 million. Northmarq’s Charlotte, North Carolina-based investment sales team led by Ron Corrao, Eric Liebich, Scott Fuller, Dane Lozier, Matthew Weinstein and Dominic Bologna represented the undisclosed seller. The property, built in 2011, is situated on approximately 14 acres and includes 11 three-story garden-style buildings and an additional building that houses the clubhouse and leasing office. Independence Place’s amenity package consists of a 24-hour fitness center, resort-style pool, game room, sand volleyball and …

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Arbor-House-Arlington-Heights
DevelopmentIllinoisMidwestOperations

Bradford Allen Begins Pre-Leasing at Arbor House, The First Phase of Arlington Gateway in Chicagoland

by Lynn Peisner

ARLINGTON HEIGHTS, ILL. — Locally based developer Bradford Allen has begun pre-leasing at Arbor House, a 301-unit community in Arlington Heights, 32 miles northwest of downtown Chicago. Cross Street is handling the leasing, while Lancaster Living is the property manager. Units are available as studios and one-, two- and three-bedroom layouts, with monthly asking rents starting at $1,895. Arbor House also features 26,000 square feet of ground-floor retail. The community will anchor Bradford Allen’s 18-acre mixed-use district known as Arlington Gateway. Arbor House marks Phase I of development, which will …

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Lantower-Sunrise-Kissimmee
Company NewsNewsOperationsSouth CarolinaSoutheast

Greystar Takes Over 7,895-Unit Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Lantower Residential, a Dallas-based operator and subsidiary of H&R REIT, is exiting the property management business. Greystar will take over management of Lantower’s approximately 7,895 units. The phased transition began Feb. 17. Greystar will assume management responsibilities for 23 multifamily communities, including two properties under development. As part of the transition, many of Lantower’s onsite and property leadership teams will join Greystar. H&R REIT is based in Toronto with a U.S. and Canadian portfolio comprised of residential, industrial and office properties totaling approximately 21.2 million square feet.

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