Author

Lynn Peisner

David-Nelson
Industry VoicesInvestment SalesOperationsSoutheastTennessee

Nashville’s Fundamentals and a Resilient Labor Market Strengthen the City’s Multifamily Outlook

by Lynn Peisner

By David Nelson  When considering the attributes of Nashville, a thriving music industry often first comes to mind. The city is dubbed Music City, after all, and has spawned a variety of successful country music artists.  Nashville is more than twang and chart-toppers, however. It’s Tennessee’s capital and most populous city, home to more than 2.1 million residents in the metro area, with an economy anchored by major employers in healthcare, government, education and manufacturing.  Its unique dynamics also make it a market to strongly consider for multifamily investment. Nashville’s …

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W-Lobby-Cleveland
DevelopmentFinanceMidwestNewsOhio

ErieView Secures $217.6M in Construction Financing for Cleveland Tower Redevelopment

by Lynn Peisner

CLEVELAND — ErieView Development, led by Cleveland’s Kassouf family, is redeveloping the 40-story Erieview Tower into a 210-room W Cleveland hotel, 215 W-branded rental apartments and renovated office space. Brown Gibbons Lang & Co. served as financial adviser and arranged roughly $217.6 million in financing for the residential and hotel phases. The hotel and apartments are slated to open in late 2027. In 2018, The Kassouf family acquired the largely vacant office tower, built in 1964. The conversion will introduce both Ohio’s first W Hotel and the W brand’s first …

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Elizabeth-Chicago
FinanceIllinoisMidwestNews

Draper and Kramer Commercial Finance Group Arranges $93.5M for The Elizabeth in Chicago

by Lynn Peisner

CHICAGO — Draper and Kramer’s Commercial Finance Group (CFG) has arranged a $93.5 million loan on behalf of Chicago-based Sterling Bay and Denver-based Ascentris for a refinancing of The Elizabeth. The 28-story, 350-unit tower at 225 N. Elizabeth St. in Chicago’s Fulton Market was completed in 2024 and includes 10,000 square feet of street-level retail space. The architect was Hartshorne Plunkard Architecture. CFG senior vice presidents Bill Barry and Bill Stewart arranged the loan.

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The-Edison-Maple-Grove
FinanceMidwestMinnesotaNews

Gantry Arranges $48.3M Construction Takeout Loan for Twin Cities Development

by Lynn Peisner

MAPLE GROVE, MINN. — Gantry has arranged a $48.3 million construction takeout loan for The Edison at Maple Grove, a 248-unit community in the northwest Minneapolis suburb of Maple Grove. Gantry did not disclose the identity of the borrower. The property was developed by Missouri-based JPL Development and opened in 2025. Gantry’s Joe Monteleone and Bonnie Monteleone arranged the 10-year, fixed-rate Freddie Mac loan. The Edison at Maple Grove is located at 9820 Garland Lane North and consists of one-, two- and three-bedroom floor plans and a resort-style pool with …

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Aviara-East-Pompano
FloridaInvestment SalesNewsSoutheast

Cushman & Wakefield Brokers Two-Property South Florida Sale

by Lynn Peisner

POMPANO BEACH AND LAKE WORTH, FLA. — Cushman & Wakefield has arranged the sale of the Aviara Portfolio totaling two properties and 264 units in South Florida. The seller was Aviara Florida and the buyer was CSL. Cushman & Wakefield’s Roberto Pesant, Jose Mota and Wouter Lips represented both buyer and seller. The portfolio includes Aviara East Pompano, located at 1621 S. Dixie Hwy. in Pompano Beach, a 228-unit community built in 2024 that features a resort-style pool, fitness center, pet-friendly common areas, gated access and covered parking; and Aviara …

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Chicopee-Village-Chicopee
Affordable HousingDevelopmentInvestment SalesMassachusettsNewsNortheast

WinnCos. Acquires, Rehabs Western Massachusetts Affordable Housing Property

by Lynn Peisner

CHICOPEE, MASS. — WinnCos. has acquired a 290-unit affordable housing community in Chicopee and begun a $41.5 million rehabilitation of the property. The sales price was not disclosed. Affordability restrictions at Chicopee Village Townhomes were set to expire this year. Financing for the acquisition and rehabilitation closed on Aug. 13, guaranteeing the property will remain affordable housing for 50 years. Upon completion of the renovation — slated for summer 2028 — 30 apartments will be converted to unrestricted units, allowing existing over-income households to remain housed and avoid displacement. The …

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Aston-at-Longleaf-Melbourne
DevelopmentFinanceFloridaNewsSoutheast

Eastwind Development Secures $45.5M Construction Loan for Space Coast Project

by Lynn Peisner

MELBOURNE, FLA. — Palm Beach Gardens, Florida-based Eastwind Development has broken ground on The Aston at Longleaf on Preserve Drive in Melbourne. Construction of the 264-unit community began after Eastwind acquired the 17-acre site and secured a $45.5 million construction loan provided by TD Bank. Amenities at The Aston include a 10,000-square-foot clubhouse featuring a community lounge, game room, fitness center with an adjoining spin room and a coworking lounge. Outside, residents have access to a resort-style pool with private cabanas, an outdoor kitchen, firepit, yoga lawn, games lawn, dog …

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Birwood Heights-San-Antonio
FinanceNewsTexas

IPA Arranges $40.3M Refinancing for 312-Unit Birwood Heights in San Antonio

by Lynn Peisner

SAN ANTONIO — IPA Capital Markets has arranged a $40.3 million loan to refinance the 312-unit Birwood Heights in San Antonio. The name of the borrower was not disclosed. IPA’s Brandon Roth, based in Palo Alto, California, worked with Adam Mengacci and Travis Headapohl in Dallas to secure the loan. The lender that provided the non-recourse bridge financing was also not disclosed. Birwood Heights was developed in 2019 and is comprised of one-, two- and three-bedroom units along with a resort-style pool, fitness center, outdoor grilling areas and resident lounges.

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The-Vic-Katy
Investment SalesNewsTexas

Colliers Arranges Sale of The Vic at Jordan Ranch in Katy, Texas

by Lynn Peisner

KATY, TEXAS — Colliers has arranged the sale of The Vic at Jordan Ranch. Neither party to the transaction, nor the sales price, was identified. Jaleel Adatia, Chip Nash, Bob Heard and Nolan Mainguy of Colliers represented the seller in the transaction. Located at 2011 Texas Heritage Parkway in Katy, The Vic at Jordan Ranch is located within Jordan Ranch, a master-planned community. The property totals approximately 302,619 square feet and is situated along Texas Heritage Parkway.

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Jessie-Street-Terrace-Santa-Cruz
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing and Partners Complete Jessie Street Terrace in Santa Cruz, California

by Lynn Peisner

SANTA CRUZ, CALIF. — MidPen Housing has completed and opened Jessie Street Terrace, an affordable housing redevelopment in Santa Cruz. Formerly a 14-room hotel, Jessie Street is now comprised of 50 studio and one-bedroom permanent supportive housing units reserved for tenants earning between 20 and 50 percent of area median income. About half the apartments are reserved for veterans, while others are set aside for people who have previously experienced homelessness. MidPen Property Management manages the property. Through partnerships with Palo Alto Veterans Affairs and the County of Santa Cruz …

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