Author

Lynn Peisner

Thompson-Oaks-St-Paul
DevelopmentFinanceMidwestMinnesotaNews

Greco, Swervo Secure $76.3M for 291-Unit West St. Paul Development

by Lynn Peisner

WEST ST. PAUL, MINN. — Greco and Swervo Management have obtained $76.3 million in financing to develop Thompson Oaks, a 291-unit project in West. St. Paul. Thompson Oaks is the first phase of a larger redevelopment of the former West St. Paul YMCA and adjacent city-owned land, which has sat largely vacant since Hy-Vee demolished the YMCA in 2020 and later abandoned plans for a grocery store. The financing package includes a $63 million, four-year, floating-rate loan through First International Bank & Trust and $13.3 million in equity from WhiteStar …

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Fox-Run-St-Charles
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Acquire Fox Run in Chicago Suburb for $32.4M

by Lynn Peisner

ST. CHARLES, ILL. — Eastham Capital, along with operating partner Bender Cos., has acquired Fox Run Apartments, a 220-unit property in St. Charles, 40 miles west of Chicago. Birmingham, Michigan-based real estate investment firm M Group, in partnership with Chicago-based RUME Capital, sold the asset for approximately $32.4 million. Fox Run Apartments was built in 1973 and is a four-building community made up of one-, two- and three-bedroom units along with a pool, picnic and grilling areas, package lockers, laundry facilities and off-street parking. Monthly asking rents currently average $1,703, …

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The-Harlow-Wesley-Chapel
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $44M Refinancing of The Harlow in Metro Tampa

by Lynn Peisner

WESLEY CHAPEL, FLA. — Berkadia has arranged a $44 million loan to refinance The Harlow, a 248-unit community completed in 2024 in Wesley Chapel, 23 miles north of Tampa, Florida. Walton Street Capital provided the three-year, floating-rate loan that takes out the property’s existing construction debt. The borrowers are Mast Capital and Rockpoint. The Harlow is a four-story community on approximately 16 acres that is comprised of one-, two- and three-bedroom residences and a resort-style pool, fitness center, walking trail, electric vehicle charging stations, detached garages and coworking spaces, which …

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Zia-Anaheim
CaliforniaInvestment SalesNewsWestern

MBK Rental Living, Haseko Sell Zia in Anaheim

by Lynn Peisner

ANAHEIM, CALIF. — MBK Rental Living and development partner Haseko Corp. have sold Zia, a 315-unit community in Anaheim that opened in September 2024, for an undisclosed price. The buyer was an unnamed institutional investor. Zia is a five-story community with studios and one-, two- and three-bedroom residences along with a 24-hour fitness center, pool with grill and bar areas, a dog park and spa, coworking spaces that include conference rooms, courtyards and a game lounge with a race car simulator.

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Upland-Park-Miami
DevelopmentFinanceFloridaNewsSoutheast

Terra Obtains $245M in Permanent Financing for First Phase of Miami’s Upland Park Project

by Lynn Peisner

MIAMI — Locally based development firm Terra has secured $245 million in takeout financing following the completion and stabilization of Phase I of Upland Park, a $1 billion, 47-acre mixed-use development in Miami. Slate Property Group was the lender. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planners Plusurbia Design, Upland Park will be built in multiple phases. Future phases will include additional mid-rise and garden-style apartments, retail and commercial space. Construction of the project’s second residential phase, which will add another 484 apartments, is …

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Dry-Creek-Ranch-Texas
Investment SalesNewsTexas

IPA Arranges Sale of Dry Creek Ranch in Metro Dallas-Fort Worth

by Lynn Peisner

NORTHLAKE, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Dry Creek Ranch, a 456-unit property in Northlake, a northern suburb of the Dallas-Fort Worth metro area. IPA’s Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware and Shelby Vosburg represented the seller, Western Securities, a Canadian real estate holding company, and procured the buyer, Denver-based Bow River Capital. Completed in two phases in 2007 and 2014, Dry Creek Ranch is a controlled-access, three-story, garden-style property with a pool, playground, basketball court, on-site laundry facility, business center and car …

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Waterford-Milpitas-California
Affordable HousingCaliforniaDevelopmentNewsWestern

Waterford Breaks Ground on 75-Unit Affordable Housing Development in Silicon Valley

by Lynn Peisner

MILPITAS, CALIF. — Waterford Property Co., in partnership with C&C Development, has broken ground on a 75-unit affordable housing project in Milpitas. The 4 percent Low-Income Housing Tax Credit (LIHTC) community has an estimated development cost of $47.6 million, according to the California Tax Credit Allocation Committee. The to-be-named property is slated for completion in early 2028 and is part of a larger residential planned community that also includes for-sale homes built by PulteGroup. Units will be reserved for families earning between 30 and 70 percent of area median income. …

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Cudahy-Commons-Wisconsin
Investment SalesMidwestNewsWisconsin

Peak Capital Acquires Cudahy Commons in Metro Milwaukee for $18.1M

by Lynn Peisner

CUDAHY WIS. — Greysteel has arranged the $18.1 million sale of Cudahy Commons, a 142-unit property at 2810 E. Edgerton Ave. in Cudahy, 7 miles south of Milwaukee. Greysteel represented the seller, an unnamed private investor. Peak Capital acquired the asset. Greysteel’s team was comprised of BJ Connolly, Doug Banerjee and Ryan Carter. Amenities include a pool, fitness center, clubhouse and dog park. According to Apartments.com, the community offers one- and two-bedroom units and was developed in 1978.

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Portofino-Place-Apartments-WPB
FloridaInvestment SalesNewsSoutheast

Fairfield Acquires 812-Unit Portofino in West Palm for $208M

by Lynn Peisner

WEST PALM BEACH, FLA. — San Diego-based Fairfield Residential has acquired the 812-unit Portofino Place in West Palm Beach. The asset sold for $208 million, and the seller was Atlanta-based Cortland Partners, according to the South Florida Business Journal. Located at 4400 and 4600 Portofino Way, the property is comprised of one-, two- and three-bedroom apartments as well as two-story lofts and four resort-style pools. Additional amenities include a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park, guest suite accommodations and multiple social …

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The-Samuel-San-Diego
CaliforniaDevelopmentFinanceNewsWestern

CEDARst Cos. Secures $80M Construction Loan for The Samuel in San Diego

by Lynn Peisner

SAN DIEGO — Chicago-based CEDARst Cos. has obtained an $80 million construction loan to develop The Samuel, a 197-unit community in San Diego’s North Park neighborhood. JLL’s Zach Kersten, Jack Wood and Ben Choromanski arranged the three-year, floating rate loan through Boston-based CrossHarbor Capital Partners. Located at 2821 Adams Ave., The Samuel will be an eight-story development comprised of studios, one- and two-bedroom units and a pool, fitness center, coworking lounge, fire pits, game deck and a rooftop lounge with an outdoor kitchen. Construction is expected to begin later this …

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