Author

Lynn Peisner

Laster-Farms-Knoxville
DevelopmentNewsSoutheastTennessee

Trinitas Breaks Ground on $80M Laster Farms at Turkey Creek in Knoxville, Tennessee

by Lynn Peisner

KNOXVILLE, TENN. — Trinitas Ventures, a Lafayette, Indiana-based development and investment firm, along with partner Indianapolis-based developer Millstone Ventures have broken ground on Laster Farms at Turkey Creek, a 320-unit project in Knoxville. Laster Farms at Turkey Creek will include 240 apartments and 80 townhomes offered in one-, two- and three-bedroom layouts with monthly asking rents ranging from approximately $1,800 to $2,800. Amenities include a clubhouse and fitness center, resort-style pool, golf simulator, outdoor lounge areas and entertainment lawns. First move-ins are expected by summer 2027.

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Bolsa-Pacific-Westminster
Affordable HousingCaliforniaDevelopmentNewsWestern

Shopoff, AO Break Ground on California Mall Redevelopment that Includes 2,250 Units

by Lynn Peisner

WESTMINSTER, CALIF. — Shopoff Realty Investments and architecture firm AO have broken ground on Bolsa Pacific at Westminster. Developed by Shopoff Realty Investments, the new 83.3-acre mixed-use project will replace the vacant Westminster Mall in Westminster, located in western Orange County, about 12 miles east of Long Beach, California. Bolsa Pacific will include approximately 2,250 residential units, 220,000 square feet of retail, a 120-key hotel and more than 15 acres of publicly accessible open space. AO designed the residential component of the project, which comprises five multifamily buildings on the south …

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Allure-at-Edinburgh-Chesapeake
Investment SalesNewsSoutheastVirginia

Berkadia Arranges Sale of Allure at Edinburgh in Chesapeake, Virginia

by Lynn Peisner

CHESAPEAKE, VA. — Berkadia has arranged the sale of Allure at Edinburgh, a 280-unit property in Chesapeake. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia Richmond led the transaction on behalf of the seller, Virginia Beach-based Venture Realty Group. Passco Cos. of Irvine, California, acquired the property for an undisclosed price in a transaction that closed on April 30. Arlington Properties will assume control of property management at Allure at Edinburgh. Located at 249 Allure Lane, the project was developed in two phases in 2024 and 2025. …

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FinanceNewsNortheastWashington, D.C.

Meridian Arranges $50M Refinancing for Lanston Views in D.C.

by Lynn Peisner

WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million loan through NewBridge Lending for Langston Views, a 671-unit community in Washington, D.C. The borrower is Chicago-based Clear Investment Group, which acquired the property from foreclosure in 2024 and has since completed renovations to units, amenities and building systems. Langston Views was constructed in 1966 and consists of two 12-story residential towers and multiple garden-style buildings.

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Pines-at-Peach-Raleigh
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

Oppidan Investment Co. Opens Two Raleigh Affordable Housing Developments Totaling $83M

by Lynn Peisner

RALEIGH, N.C. — Oppidan Investment Co. has opened two LIHTC affordable housing communities in Raleigh: The Pines at Peach and Birch & Branch. Development costs of the two properties totaled $83 million. Located at 3470 Overstory Circle, Birch & Branch is a $49 million development featuring 180 one-, two- and three-bedroom apartments for families earning between 30 and 70 percent of the area median income (AMI). Birch & Branch was designed by Moore Hocutt, engineered by VHB, constructed by Mills Construction and is managed by Excel Property Management. Pines at …

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Belle-Oaks-Ohio
DevelopmentFinanceMidwestNewsOhio

DealPoint Merrill Secures $55M for First Phase of Mall Redevelopment in Metro Cleveland

by Lynn Peisner

RICHMOND HEIGHTS, OHIO — DealPoint Merrill has secured a $55 million construction loan for Phase I of Belle Oaks Marketplace in Richmond Heights, about 14 miles east of Cleveland. The Walker & Dunlop Capital Markets Real Estate Finance team led by Ryan Parker arranged a floating-rate, interest-only construction loan provided by Genesis Capital. The financing will be used for construction of Phase I of DealPoint Merrill’s redevelopment of the former Richmond Town Square Mall. This first phase includes 181 multifamily units across two buildings. Upon full completion, Belle Oaks Marketplace …

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Rye-SoBo-Denver
ColoradoFinanceNewsWestern

JLL Arranges Refinancing for Price Brother’s Rye SoBo in Denver

by Lynn Peisner

DENVER — JLL has arranged a floating-rate loan for Price Brothers to refinance Rye SoBo, a 353-unit property in Denver. The amount of the loan was not disclosed. RyeSoBo, located at 290 W. Alameda Ave. in the South Broadway area of Denver, was developed in 2021 and includes studios, one- and two-bedroom units and amenities such as a rooftop lounge with mountain and downtown views, a two-story fitness center, a two-story coworking lounge with conference rooms, a pool with a hot tub, a beer garden with outdoor games, a pet …

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Inscription-West-Palm
Company NewsFinanceInvestment SalesNews

ECI Group, ApexOne Launch $500M Value-Add Fund

by Lynn Peisner

ATLANTA — Atlanta-based ECI Group and Houston-based ApexOne Investment Partners have formed a joint venture and a fund to acquire, redevelop and manage multifamily assets throughout the Sun Belt. ApexOne-ECI Multifamily Fund VI will seek total equity capitalization of $500 million. ECI and ApexOne have agreed to co-invest a combined total of approximately $100 million. New York City-based Almanac Realty Investors has committed $350 million. Fund acquisition criteria include existing assets rather than ground-up developments with an emphasis on newer-vintage communities and traditional assets, including workforce housing, all with investment …

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Westermark-Sugar-Land
DevelopmentFinanceNewsTexas

Elm Real Estate Group Secures Construction Financing for The Westermark in Sugar Land, Texas

by Lynn Peisner

SUGAR LAND, TEXAS — Patterson Real Estate Advisory Group has arranged a construction loan for The Westermark, a 165-unit project in the southwestern Houston suburb of Sugar Land. The Westermark will consist of two five-story buildings containing studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, resident lounge and coworking space. Wintrust Commercial Real Estate provided the loan to the developer, Elm Real Estate Group, which is an affiliate of Indianapolis-based KCG Cos. Neither a construction timeline nor the loan amount was disclosed.

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Liam-at-Hays-Farm-Huntsville
AlabamaInvestment SalesNewsSoutheast

Greystone Acquires The Liam at Hays Farm in Huntsville, Alabama, for $64M

by Lynn Peisner

HUNTSVILLE, ALA. — Newmark has arranged the $64 million sale of The Liam at Hays Farm, a 326-unit community in Huntsville. Justin Uffinger and Sarah Nee of Newmark Multifamily Capital Markets represented the seller, a joint venture between Bomasada Group and an affiliate of The Wolff Co., in the transaction. The buyer was Greystone. The property, located within the 850-acre Hays Farm master-planned community in South Huntsville, was developed in 2024. Amenities include a resort-style pool, courtyard and a fitness center.

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