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Lynn Peisner

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The NRP Group Hires Nicholas O’Brien to Expand Affordable Housing Development in New York

by Lynn Peisner

NEW YORK CITY — The NRP Group has appointed Nicholas O’Brien as vice president of affordable housing development and finance in New York. O’Brien will help expand The NRP Group’s affordable housing pipeline across New York State outside the five boroughs, including Long Island, Westchester County, the Hudson Valley and Upstate New York. He will report to Jonathan Gertman, senior vice president of development, who oversees market-rate and affordable development efforts in New York. In his new role, O’Brien will identify and evaluate new affordable housing development opportunities, support transaction …

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5550-Wilshire-Los-Angles
CaliforniaInvestment SalesNewsWestern

Decron Properties Buys Los Angeles Property for $114M

by Lynn Peisner

LOS ANGELES — Locally based Decron Properties has acquired 5550 Wilshire, a 163-unit mixed-use apartment community in the Miracle Mile area of Los Angeles. According to the Los Angeles Business Journal, the seller was private equity real estate investor GID, headquartered in Atlanta. The asset sold for $114 million. Blake Rogers of JLL arranged the transaction. Developed in 2010, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes. Amenities include a resort-style pool, hot tub, rooftop lounges, movie theater and parking for 484 vehicles. The property also includes 14,686 …

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Bridges-at-san-ramon-California
CaliforniaInvestment SalesNewsWestern

TruAmerica Buys Bridges at San Ramon in San Francisco Bay Area

by Lynn Peisner

SAN RAMON, CALIF. — TruAmerica Multifamily has acquired Bridges at San Ramon, a 200-unit community in San Ramon. With this acquisition the Los Angeles-based investment firm owns and operates 1,240 units in the San Francisco Bay area. The seller was not disclosed. Bridges at San Ramon offers 200 one- and two-bedroom units averaging 739 square feet. Amenities include a pool and spa, fitness center, resident lounge, courtyard and barbecue area, playground, pet spa, electric vehicle charging stations and garage parking. TruAmerica plans to renovate a majority of the units, installing …

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Molokai-San-Diego
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $11.2M Sale of Molokai Apartments in San Diego

by Lynn Peisner

SAN DIEGO — Marcus & Millichap has arranged the $11.2 million sale of The Molokai Apartments, a 39-unit property in San Diego. Austin Ray Huffman and Chris Zorbas, of the Zorbas Huffman Group based out of Marcus & Millichap’s San Diego office, listed the property on behalf of the seller, Vista International Inc. The buyer, a private investor, was represented by Michael Wolf of Coldwell Banker West. Built in 1971, The Molokai Apartments is a 32,204-square-foot property situated on about 1 acre at 5055 73rd St. in San Diego’s College …

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Chris-Fields
Affordable HousingDevelopmentFinanceIndustry Voices

What Missouri’s Expanded Tax Credit Program Means for Rural Affordable Housing Development

by Lynn Peisner

By Chris Fields Historic tax credits have funded multifamily and affordable housing development in older buildings for decades. Missouri’s recent legislative changes have now expanded this funding source. Gov. Mike Kehoe signed House Bill 3080 on July 13, 2026, restoring and expanding the state’s Historic Preservation Tax Credit program under a new name: the Missouri Historic, Rural Revitalization and Development Act. For developers working on adaptive reuse and historic rehabilitation projects, the changes are significant. The credit rate for qualifying rural projects, those located outside St. Louis and Kansas City, …

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Vista-Ridge-Issaquah
FinanceInvestment SalesNewsWashingtonWestern

Mesa West Funds $27M Loan for Timberland Partners’ Acquisition of Metro Seattle Asset

by Lynn Peisner

ISSAQUAH, WASH. — Mesa West Capital has funded a $27 million acquisition loan for Timberlane Partner’s purchase of Vista Ridge, a 91-unit community in Issaquah, 17 miles southwest of Seattle. The seller was Vancouver, British Columbia-based Belkorp Holdings. The total acquisition cost was $37 million. Vista Ridge is an eight-building, garden-style community located at 201 Mountain Park Blvd. SW. Built in 1992, the property spans 7 acres and consists of two- and three-bedroom units with an average size of 1,106 square feet. Community amenities include a fitness center, covered parking, …

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7 Hartwell-Lexington
DevelopmentFinanceMassachusettsNewsNortheast

Dinosaur Capital Partners Receives $45.8M Loan for Metro Boston Development

by Lynn Peisner

LEXINGTON, MASS. — Boston-based Dinosaur Capital Partners has obtained a $45.8 million construction loan to build 7 Hartwell Avenue, a 130-unit, ground up project in the Boston suburb of Lexington. JLL’s Anthony Cutone, Madeline Joyce, Michael Schwarze and Joe Marinaro arranged the loan through Affinius Capital. Slated for completion in June 2028, 7 Hartwell Avenue will consist of a five-story community featuring studios, one-, two- and three-bedroom units, including 20 affordable units. Rent restrictions were not disclosed. The development also will include 132 parking spaces, a courtyard with grilling stations, …

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The-Emerald-Centerton
ArkansasDevelopmentNewsSoutheast

Capstone Building Corp., EYC and Kalikow Break Ground on $45.1M Project in Northwest Arkansas

by Lynn Peisner

CENTERTON, ARK. — Capstone Building Corp., a multifamily general contractor headquartered in Birmingham, Alabama, has begun construction of The Emerald, a 256-unit community in Centerton in Northwest Arkansas, about 5 miles west of Bentonville. Westbury, New York-based The Kalikow Group and EYC Cos., headquartered in Charleston, South Carolina, are the developers behind the $45.1 million project. Located at the intersection of E. Centerton Blvd. and Womack Road, The Emerald will encompass 312,414 square feet and feature 256 units across nine residential buildings, along with a clubhouse. S. Robert Andron is …

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Alta-Thoreau-Concord
Affordable HousingDevelopmentMassachusettsNewsNortheast

Wood Partners Breaks Ground on Alta Thoreau in Concord, Massachusetts

by Lynn Peisner

CONCORD, MASS. — Atlanta-based Wood Partners has broken ground on Alta Thoreau, a 237-unit community in Concord, approximately 20 miles northwest of Boston. Units will be offered as one-, two- or three-bedroom floor plans across two five-story residential buildings. Amenities include Pilates and yoga studios, a golf simulator, tavern-style lounge, coworking spaces, a pool, fire pits, a pet spa and a dog park. Alta Thoreau will be Wood Partners’ first Passive House-designed community in Massachusetts, a designation for buildings that use reduced energy. Features include porous pavement, a more sustainable …

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Tremont-Street-Catalina
Affordable HousingCaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $8.6M Sale on Santa Catalina Island

by Lynn Peisner

AVALON, CALIF. — Marcus & Millichap has arranged the sale of Tremont Street Apartments, a 62-unit affordable housing property in Avalon, the only incorporated city on Santa Catalina Island. The asset sold for approximately $8.6 million. The seller was a limited partnership known as Black Rose Catalina, and the buyer was Newport Beach, California-based Tailwind Investment Group. Arteen Zahiri and Tony Azzi, both members of the Azzi Group in Marcus & Millichap’s Los Angeles office, represented the seller and procured the buyer. The apartment community, built in 1983, operates under …

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