Author

Lynn Peisner

2201-3rd-Ave-NYC
DevelopmentFinanceNew YorkNewsNortheast

Bravo Property Trust Provides $80M Construction Loan for Developer of East Harlem Tower

by Lynn Peisner

NEW YORK CITY — Bravo Property Trust has provided an $80 million bridge construction loan to Glowstone Group for the development of a 22-story mixed-use building with 194 apartments in East Harlem. Located at 2201 3rd Ave., the project will include 12 studios, 103 one-bedroom and 79 two-bedroom units on floors two through 22. The ground floor will feature two retail spaces totaling approximately 4,510 square feet plus a separate community facility space. Amenities include a gym, coworking space, children’s playroom, pet spa, library, lounge, bike storage, package room, upper-level …

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CaliforniaInvestment SalesNewsStudent HousingWestern

IPA Arranges $204.8M Trade of Silicon Valley Student Housing High-Rise

by Lynn Peisner

SAN JOSE, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of The Grad San Jose, a 260-unit, 1,035-bed purpose-built student housing high-rise half a mile south of San Jose State University. AMCAL, Swenson and Tikehau Capital sold the property to a joint venture between Coastal Ridge Real Estate and Brookfield for approximately $204.8 million. The Grad was 100 percent leased at the time of the sale. Completed in 2020, The Grad offers furnished one- to four-bedroom floor plans, most with private bedrooms and private bathrooms, along with kitchens …

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DevelopmentInvestment SalesNewsNortheastPennsylvania

Agent PHL Brokers Development Site Sale in Philadelphia Historic District

by Lynn Peisner

PHILADELPHIA — Agent PHL has brokered the sale of 1523-29 Wallace Street, an urban infill assemblage, comprising three lots, in the Fairmount/Spring Garden historic district of Philadelphia. The seller was an unnamed estate, and the buyer was locally based private equity firm Khosla Properties, which is planning to develop a four-story, 27-unit multifamily property, primarily comprising two-bedroom, two-bathroom floor plans. The site was previously used as a parking lot. A development timeline was not disclosed.

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FinanceIndustry VoicesInvestment Sales

Multifamily’s Financing Problem Goes Beyond the Fed

by Lynn Peisner

By Danny Fishman The Federal Reserve rate hike, announced on Sept. 16, may matter less than the headlines suggest, with the real damage still to come. Owners will continue to face financing pressure that existed before the increase. Many fixed-rate multifamily loans are priced off Treasury yields, so borrowing costs had been climbing well before the Fed acted. In that sense, the Fed is catching up with the market. For owners and developers financing acquisitions or refinancing maturing debt, the challenge is already here. For me, the more useful question …

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CaliforniaDevelopmentNewsWestern

National City Investment Group Breaks Ground on Market View in Metro San Diego

by Lynn Peisner

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a 120-unit community situated on a former parking lot at 303 Highland Ave. in National City, seven miles south of San Diego. RDC is the architect, and R.D. Olson Construction is the general contractor. The property will consist of studios and one- and two-bedroom floor plans along with a rooftop deck with ocean views, coworking space and an outdoor yoga deck. Completion is slated for the first quarter of 2028.

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The-Vibe-Miami
FinanceFloridaNewsSoutheast

JLL Arranges $50.8M ReFi for The Vibe in Miami

by Lynn Peisner

MIAMI — JLL Capital Markets has arranged a $50.8 million refinancing fixed-rate, CMBS loan for STRE Management and Lloyd Jones. The sponsors are refinancing The Vibe, a two-building community in Miami’s Little Havana neighborhood. Located at 700 Southwest 1st St., the 194-unit affordable housing community was completed in 2021. The one-, two- and four-bedroom units are reserved for renter households earning 80 to 120 percent of area median income. The property also includes 7,625 square feet of fully leased commercial space. Units are currently 96.4 percent leased. Jesse Wright, Joshua …

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ArizonaFinanceFloridaGeorgiaNewsSoutheastWestern

Thompson Thrift Secures $463M Construction Takeout Loan for Eight New Sun Belt Properties

by Lynn Peisner

TERRE HAUTE, IND. — JLL has arranged $463 million in bridge financing for an eight-property portfolio owned by Terre Haute-based Thompson Thrift. Barings provided the floating-rate construction takeout loan for the newly completed properties, comprising 2,412 units, in Florida, Georgia and Arizona. The loan retired existing construction loans across all properties, which were completed throughout 2025 and 2026 in seven metro areas. Each property features amenities such as 24-hour fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor …

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Investment SalesMidwestMinnesotaNews

Eastham, Bender Partner on Value-Add Acquisition in Twin Cities Metro

by Lynn Peisner

COON RAPIDS, MINN. — Eastham Capital and Bender Cos. have acquired Woodland North Apartments in Coon Rapids, 25 miles north of Minneapolis. The seller and sales price were not disclosed. The 198-unit community marks the 15th joint acquisition between the partners. Built in 1979, the property is currently 94 percent occupied with average asking monthly rents of $1,424. Following recent capital improvements, the business plan calls for additional upgrades across several apartments, including the addition of in-unit laundry and new appliances, along with enhancements to the exterior and amenities. The property …

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The-James-College-Station
DevelopmentNewsTexas

McGrath Breaks Ground on 279-Unit Project in Bryan, Texas

by Lynn Peisner

BRYAN, TEXAS — McGrath Real Estate Partners has begun construction of The James, a 279-unit community within CamWesT Crossing, a 47-acre mixed-use development in Bryan. The James will offer a mix of one-, two- and three-bedroom floor plans, with some first-floor units featuring front porches. Amenities will include a resort-style pool, fitness center, outdoor amphitheater with a stage and Jumbotron TV. CamWesT Crossing is a phased development that calls for office, multifamily and retail uses. Phase I included a four-story office building developed in 2019, while Phase II encompasses The …

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Affordable HousingDevelopmentNewsTexas

High Street Residential Breaks Ground on North Dallas Mixed-Income Office Conversion

by Lynn Peisner

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., both based in Dallas, has broken ground on a 435-unit community in North Dallas. Greenwich, Connecticut-based Acram Group is a general partner, and Parse Capital, headquartered in Scottsdale, Arizona, provided an undisclosed sum of equity. The project, yet to be named, is an office conversion. The community will include 218 affordable units and 217 market-rate apartments. Earlier Dallas Public Facility Corp. approvals called for 5 percent of units to be reserved for households earning below 50 percent of area …

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