Author

Lynn Peisner

Village-of-Valor-Florida
Affordable HousingDevelopmentFinanceNews

ROAD to Housing Act Clears Path for Affordable Housing Development

by Lynn Peisner

The affordable housing industry has spent years asking Congress for a federal response to the nation’s housing shortage. With the 21st Century ROAD to Housing Act having officially become law on July 11, industry groups are treating the legislation as a rare bipartisan win — not because it solves the crisis unilaterally but because it tackles several of the bottlenecks that have slowed development and preservation. According to the National Low Income Housing Coalition, the nation is short 7.2 million affordable and available rental homes for extremely low-income households. The …

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The-Collins-at-Union-Park-Fort-Collins
ColoradoDevelopmentFinanceNewsWestern

Concord Summit Capital Arranges $115.5M Construction Loan for Colorado Development

by Lynn Peisner

FORT COLLINS, COLO. — Concord Summit Capital has arranged a $115.5 million construction loan for Collins at Union Park, a 457-unit community in Fort Collins. The borrower/developer is Livmark Communities, a division of Landmark Homes, which has broken ground on the project. Amenities will include a clubhouse, pool, golf simulator, playground, parks, trails and gathering spaces. Units will be offered as apartments, townhomes and carriage houses. Completion is slated for 2028.

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Vivo-Madison
FinanceMidwestNewsWisconsin

Priority Capital Advisory Arranges $11.5M Refinancing of Former Hotel in Madison, Wisconsin

by Lynn Peisner

MADISON, WIS. — Priority Capital Advisory has arranged an $11.5 million loan for the refinancing of Vivo Madison, a 153-unit property at 517 Grand Canyon Drive in Madison. The borrower is a joint venture between REALM and OTR Real Estate. The partners acquired Vivo in April 2023, at which time the property was a Radisson Hotel. OTR specializes in the conversion of hospitality assets to multifamily. Since 2023, the owners have added kitchenettes to all the units and built out the amenity spaces. Vivo received its certificate of occupancy in …

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Hamptons-at-Woodland-Pointe-Nashville
Investment SalesNewsSoutheastTennessee

American Landmark Apartments Acquires Hamptons at Woodland Pointe in Nashville

by Lynn Peisner

NASHVILLE, TENN. — American Landmark Apartments has acquired Hamptons at Woodland Pointe, a 240-unit community in Nashville, which will be rebranded as Woodland Pointe Residences. Built in 2001, the property is comprised of one-, two- and three-bedroom apartments homes and a pool, fitness center, clubhouse, business center, dog park, grills, a car-care center and controlled-access entry. The Nashville Business Journal reports the sales price was $51.5 million, and the seller was Seattle-based Security Properties Residential.

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Alexan-Lower-Greenville-Dallas
ColoradoFinanceNewsTexasVirginiaWestern

CBRE Arranges $380.2M Refinancing Loan for Crow Holdings

by Lynn Peisner

DALLAS — Crow Holdings has obtained a $380.2 million refinancing loan for a five-property portfolio totaling 1,549 units in Texas, Colorado and Virginia. Each was developed by Trammell Crow Residential in partnership with Crow Holdings. CBRE’s Dallas-based Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman arranged the financing through AllianceBernstein. The assets include Alexan Lower Greenville in Dallas, Alexan Braker Pointe and Alexan Waterloo in Austin, Texas, Alexan Julian in Denver and Alexan Florence in Alexandria, Virginia. Trammell Crow Co. is owned by CBRE. Crow Holdings is …

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The-Hedrick-Kissimme
DevelopmentFinanceFloridaNewsSoutheast

Hedrick Brothers Obtains $56.5M Loan, Breaks Ground on 366-Unit Project in Kissimmee, Florida

by Lynn Peisner

KISSIMMEE, FLA. — Hedrick Brothers Development has obtained a $56.5 million construction loan for The Hedrick at Lake Toho, a 366-unit community along Toho Grande Boulevard in Kissimmee. Construction has commenced, with completion slated for the end of 2028. Pre-leasing is expected to begin in 2027. Located on approximately 22 acres, The Hedrick at Lake Toho will feature a mix of one-, two- and three-bedroom units complemented by a resort-style pool with cabanas and fire pit, clubhouse with coworking and gaming spaces, pickleball courts, a yoga lawn, dog park, pet …

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El-Camino-Real-San-Carlos
Affordable HousingCaliforniaDevelopmentNewsWestern

SummerHill, KTGY Break Ground on 11 El Camino Real in San Carlos, California

by Lynn Peisner

SAN CARLOS, CALIF. — SummerHill Apartment Communities, with architect KTGY, has broken ground 11 El Camino Real, situated on 2.2 acres in San Carlos, 23 miles south of San Francisco. The project includes 251 units, in studio through three-bedroom floor plans, and 38 affordable units, reserved for a variety of income levels. Amenities feature a pool, hot tub, landscaped courtyards, clubroom, fitness center, leasing office, resident lounge, bike room and mail room. The community is within about 1 mile of two Caltrain stations with commuter service throughout the Bay Area. …

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Regents-Park-Holly-Hill
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $4.6M Sale of Regents Park in Holly Hill, Florida

by Lynn Peisner

HOLLY HILL, FLA. — Marcus & Millichap has arranged the sale of Regents Park, a 32-unit property in Holly Hill, 3 miles north of Daytona Beach. The asset sold for $4.6 million. Jason Hague and Ned Roberts of Marcus & Millichap marketed the property on behalf of the seller, locally based Carrot Properties, and procured the undisclosed buyer. Located at 660 8th St., Regents Park totals 28,798 square feet across three two-story buildings on a 5.5-acre lot. The community was built in 1986, and approximately 80 percent of the units have …

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The-Rae-Bethesda
FinanceMarylandNewsNortheast

PCCP Provides $80M Refinancing for Foulger-Pratt’s The Rae in Bethesda, Maryland

by Lynn Peisner

BETHESDA, MD. — PCCP has provided an $80 million refinancing loan to Foulger-Pratt for The Rae, a 343-unit property at 10401 Motor City Drive in Bethesda. The Potomac, Maryland-based investment and development firm completed the property in mid-2023. The Rae is comprised of studio, one- and two-bedroom units as well as a two-story, 24-hour fitness center, sports bar, garden space with hammocks and fire pits, pet wash facilities and bike storage. Units feature LVP flooring, kitchen islands, tile backsplashes and showers and stainless-steel appliances.

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GoodHomes-Arlington
Affordable HousingDevelopmentInvestment SalesNewsNortheastVirginiaWashington, D.C.

GoodHomes Acquires Metro D.C. Hotel, Plans Multifamily Conversion

by Lynn Peisner

ARLINGTON, VA. — GoodHomes Communities has acquired Arlington Court Suites in Alexandria for $35 million and plans to convert the 187-unit hotel into a 180-unit multifamily community. The KLNB multifamily capital markets team led by Rawles Wilcox, Justin Shay and Dutch Seitz and the HREC Investment Advisors team of Mark Morris and Scott Stephens represented the seller, Arlington Hotel Holdings Inc. GoodHomes is a New York City-based investor that acquires under-performing hospitality and seniors housing assets and redevelops them as workforce housing serving residents earning between 60 and 120 percent …

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