Author

Lynn Peisner

Novel-Richland-Creek-Nashville
DevelopmentNewsSoutheastTennessee

Crescent Communities Closes on Land Sale for Retail-Adjacent Community in West Nashville

by Lynn Peisner

NASHVILLE, TENN. — Crescent Communities has closed on the land sale for the upcoming development of NOVEL Richland Creek, a 277-unit community to be built at the intersection of White Bridge Pike and Harding Road in the Lion’s Head Village shopping center, adjacent to a Trader Joe’s, in West Nashville. The Charlotte-based developer will deliver one-, two- and three-bedroom apartments and amenities such as a rooftop pool, a courtyard, a fitness center, coworking spaces and a private garden with a back porch and lawn. The ground floor will be home …

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The-Element-Reno
BerkadiaInvestment SalesNevadaNewsWestern

Berkadia Arranges $41 Million Sale of The Element Apartments in Reno, Nevada

by Lynn Peisner

RENO, NEV. — Berkadia has arranged the $41 million sale of The Element, a 206-unit garden-style apartment community in Reno. The seller was a private Los Angeles-based owner, and the buyer’s identity was kept private. The property was developed between 1975 and 1977. The Element offers one- and two- bedroom floor plans. Amenities include laundry facilities, a pool, a fitness center, a dog park and a grilling and picnic area. Jared Glover of Berkadia Nevada represented the seller.

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SilverLake-Apartment-Belleville
Investment SalesNew JerseyNewsNortheast

Klein Enterprises Sells Belleville, New Jersey, Asset for $80 Million

by Lynn Peisner

BELLEVILLE, N.J. — JLL has arranged the sale of and financing for SilverLake Apartments, a 232-unit community in Belleville, 15 miles northwest of Manhattan. The seller was Klein Enterprises, and the buyer was Sym Investments. The asset, built in 2021, traded for $80 million. JLL arranged a $56 million Freddie Mac acquisition loan for Sym. SilverLake comprises two five-story buildings with a mix of studios, one- and two-bedroom units and 17,024 square feet of commercial space that is 100 percent leased. Seventy-one percent of the retail space is occupied by …

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Retreat-at-Speedway-Tucson
ArizonaInvestment SalesNewsWestern

Bascom Group Acquires Tucson Value-Add Asset for $53.4 Million

by Lynn Peisner

TUCSON, ARIZ. — Bascom Arizona Ventures, an affiliate of Irvine, California-based The Bascom Group, has acquired The Retreat at Speedway in Tucson for $53.4 million via a value-add investment fund. The seller was Wiedner Apartment Homes. IPA arranged the deal on behalf of Wiedner as well as a loan from BrightSpire Capital Acquisitions LLC. Arizona-based property manager Bryten Real Estate Partners will manage the property. Built in 2001, the two-story Retreat at Speedway is comprised of one- and two-bedroom floor plans and amenities such as a pool, hot tub, fitness …

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Woven-Greenville
Affordable HousingDevelopmentFinanceNewsSouth CarolinaSoutheast

Woodfield, FRP Secure Financing, Launch Construction of Mixed-Use Project in West Greenville

by Lynn Peisner

GREENVILLE, S.C. — FRP Development Corp. and Woodfield Development are underway with construction of Woven, a mixed-use project in the Village of West Greenville. Known locally as simply The Village, this neighborhood is home to some of the city’s historic mills and has been redeveloping since the early 2000s into an arts, small-business and entertainment area. Woven, located at 1279 Pendleton St., will anchor the western edge of the neighborhood and will include 214 one-, two- and three-bedroom units offered at market and affordable rates. Specific affordable restrictions were not …

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Triton-Glen-Richmond
BerkadiaInvestment SalesNewsSoutheastVirginia

Silver Hills Sells Richmond, Virginia, Property for $65 Million

by Lynn Peisner

RICHMOND, VA. — Triton Glen, a newly developed 250-unit property in the Innsbrook submarket of Richmond, has traded for $65 million. Berkadia brokered the deal on behalf of the seller, Silver Hills, and arranged a $42 million Freddie Mac acquisition loan for the buyer, Charlottesville, Virginia-based Seminole Trail Management. Silver Hills developed the asset in 2024. Berkadia’s investment sales team was led by Drew White, Carter Wood and Cole Carns of Berkadia Richmond, while Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Mac Ritchie of Berkadia DC Metro arranged …

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The-Eddi-at-Pentagon-Village-Edina
Investment SalesMidwestMinnesotaNews

Oaks Properties Buys The Eddi at Pentagon Village in Twin Cities Submarket

by Lynn Peisner

EDINA, MINN. — Joint venture owners Rise Modular and Soloman Real Estate Group have sold The Eddi at Pentagon Village in Edina, about 10 miles south of Minneapolis, to Oaks Properties for an undisclosed sum. The sellers developed the 202-unit property, breaking ground in 2022. JLL brokered the transaction. The community is situated within the 12.5-acre mixed-use Pentagon Village district. Units are offered as studio, one- and two-bedroom floor plans with an average size of 753 square feet. The Eddi is a wood-frame modular apartment building with 205 modules manufactured …

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1900-W-Lawrence-Chicago
IllinoisInvestment SalesMidwestNews

Cushman & Wakefield Brokers $28.5 Million Receivership Sale in Chicago

by Lynn Peisner

CHICAGO — Cushman & Wakefield has arranged the $28.5 million sale of 1900 W. Lawrence, a redeveloped former Sears store in Chicago’s Ravenswood neighborhood. Cushman & Wakefield’s Jack Maloney and Brad Smith represented the seller, Matthew Tarshis from Frontline Real Estate Partners, a court appointed receiver in the matter. According to CoStar, the buyer was locally based Bender Cos. The sale resolves a foreclosure lawsuit. The 59-unit community includes approximately 19,000 square feet of ground-floor retail, which was 100 percent occupied at the time of the sale. Residence were 94 …

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Turquoise-Trail-Santa-Fe
Affordable HousingDevelopmentNew MexicoNewsWestern

Dominium Breaks Ground on Turquoise Trail in Santa Fe

by Lynn Peisner

SANTA FE, N.M. — Dominium has broken ground on Turquoise Trail, a 312-unit affordable housing community in Santa Fe. The LIHTC property will be constructed by Weis Builders and will be comprised of 13 three-story buildings containing 120 two-bedroom, 132 three-bedroom and 60 four-bedroom homes. Three hundred units will be reserved for households earning no more than 60 percent of area median income (AMI), and the remaining two will be set aside for families earning up to 50 percent of AMI. Amenities include a clubhouse, fitness center, playground and grilling …

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Brad-Bane-Ankrom-Moisan
Architecture & DesignIndustry VoicesSustainable/LEED

Designing for Low-Carbon, High-Density Living — Lessons for Sustainable Multifamily Development

by Lynn Peisner

Developers today are under mounting pressure to meet energy codes, achieve carbon reduction goals and deliver housing that is healthy, comfortable and affordable. Whether market-rate or affordable housing, the reality is that people want homes that are not only well-designed but also economical to operate. That’s why attention to energy efficiency and utility costs has become such a critical factor in leasing and retention. In some cases, this pressure has even pushed developers toward more ambitious approaches such as Passive House strategies or other high-performance design measures. At the same …

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