Author

Lynn Peisner

Maren-McCabe-TRC
Affordable HousingCaliforniaIndustry VoicesOperationsSustainable/LEED

Five Benefits Of Energy Upgrades in Affordable Housing

by Lynn Peisner

For people who live in, own or manage affordable housing, energy efficiency can offer significant benefits beyond energy savings. Research from the U.S. Dept. of Energy (DOE) shows that owners of affordable housing properties struggle to sustain truly affordable rental housing for low-income families because they are often faced with high energy bills and maintenance costs. This disparity impacts residents, too. According to the DOE’s Low-Income Energy Affordability Data (LEAD) Tool, the average percentage of income spent on energy costs for low-income households is three times higher than for non-low-income …

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Floret-Hill-Lawrence
Affordable HousingDevelopmentFinanceKansasMidwestNews

Wheatland Investments Group Obtains $10.8M Loan for Affordable Housing Development in Lawrence, Kansas

by Lynn Peisner

LAWRENCE, KAN. — Merchants Capital has secured a $10.8 million Freddie Mac loan for Floret Hill, a 121-unit affordable housing development in Lawrence. The developer, Gardner, Kansas-based Wheatland Investments Group, also has obtained federal and state Low-Income Housing Tax Credit equity, while the City of Lawrence donated 12 acres of land and committed approximately $1 million to the project. Floret Hill will offer one-, two- and three-bedroom apartments across 11 residential buildings, with 37 units restricted to residents earning up to 40 percent of area median income (AMI) and 84 …

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Marti-Burrows-Asset-Living
Company NewsNewsOperationsPeople NewsTexas

Marti Burrows Appointed COO of Asset Living

by Lynn Peisner

HOUSTON — Asset Living has appointed Marti Burrows to chief operating officer to oversee operations across Asset Living’s national portfolio. Asset is ranked second on The National Multifamily Housing Council’s Top 50 Managers list. The Houston-based company manages approximately 450,000 units nationally. Prior to joining Asset Living, Burrows served as managing director and head of asset management for housing and alternatives at Nuveen Real Estate. She previously held executive leadership roles at Greystar, where she helped expand the firm’s owned asset platform and launched its build-to-rent single-family rental platform. Burrows …

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Masons Keepe-Manassas
BerkadiaInvestment SalesNewsSoutheastVirginia

Berkadia Arranges Sale, Financing for Masons Keepe in Manassas, Virginia

by Lynn Peisner

MANASSAS, VA. — Bridge Investment Group has acquired Masons Keepe, a 270-unit property in Manassas for an undisclosed sum. Brian Crivella, Bill Gribbin, Yalda Ghamarian and Jack Canepa of Berkadia D.C. Metro along with Drew White of Berkadia Richmond arranged the sale on behalf of the seller, an entity doing business as University Village Apartments LLC. Located at 9000 Landings Drive, Masons Keepe was built in 2004 and consists of 17 buildings within a gated community. Units are offered as one- and two-bedroom floor plans. Brad Williamson of Berkadia Miami …

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Alafia-East-New-York
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Apex, L+M Obtain $217M to Finance Phase II of Alafia in Brooklyn

by Lynn Peisner

NEW YORK CITY — Apex Building Group and L+M Development Partners have obtained approximately $217 million in financing for the third phase of the Alafia project, an affordable housing community in the East New York neighborhood of Brooklyn. The nonprofits RiseBoro Community Partnership and Services for the Underserved also are partners. The financing package is backed by federal and state affordable housing tax credits, tax-exempt bonds, state subsidies, construction loans from Redstone Bank, funding from Goldman Sachs Urban Investment Group and more. Phase III will consist of two residential buildings …

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Stamford-Urby-Connecticut
ConnecticutInvestment SalesNewsNortheast

CBRE Arranges $221M Sale of Stamford Urby

by Lynn Peisner

STAMFORD, CONN. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has sold Stamford Urby to Pantzer for $221 million. CBRE’s Jeffrey Dunne, Eric Apfel, Stuart MacKenzie, Travis Langer, and Eric Greenberg arranged the sale. Manhattan-based Pantzer has renamed the property The Point Stamford. Maxi Leachman of CBRE secured an undisclosed amount of debt for Pantzer. The property was developed in two phases (2019 and 2023) and features a 5,500-square-foot fitness center, heated pool, an courtyard, coworking spaces, a lobby, café, outdoor fire pits and grills, covered parking, …

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21-Hollywood-Florida
FloridaLeasing & MarketingNewsSoutheast

Pre-Leasing Begins at 21 Hollywood in South Florida

by Lynn Peisner

HOLLYWOOD, FLA. — Starlife Group has launched pre-leasing at 21 Hollywood, a 200-unit luxury community in Hollywood, Florida. The 14-story mixed-use tower at 2100 N. Federal Highway includes 10,000 square feet of retail, a pool with private cabanas, fitness center with dedicated yoga and Pilates studio, coworking spaces, cinema room, game room, golf simulator, a children’s play area and a dog park and dog-washing station. Full project completion is slated for early 2027. Starlife is headquartered in Miami.

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Elora-Lawrence
Affordable HousingFinanceInvestment SalesMassachusettsNewsNortheast

Northmarq Arranges $22.9M for Affordable Housing Acquisition in Lawrence, Massachusetts

by Lynn Peisner

LAWRENCE, MASS. — Northmarq has arranged a Fannie Mae loan for approximately $22.9 million for Arrowpoint Properties’ acquisition of Elora Flats & Townhomes in Lawrence, 30 miles north of Boston. Northmarq’s Boston-based team was led by Jeff Munoz, Kevin Sykes, Ed Riekstins and Jeffrey Munoz. Built in 2009, Elora Flats & Townhomes features six four-story buildings with 104 residential units reserved for families earning up to 80 percent of area median income. The property has maintained an average occupancy of 97.6 percent over the past 12 months. Amenities include parking for …

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Legends-Orlando
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $85.4M Refinancing Loan for Two Orlando Properties

by Lynn Peisner

ORLANDO, FLA. — Boston-based Taurus Investment Holdings has obtained an $85.4 million loan to refinance two Orlando-area assets, The Summit at Metrowest and The Legends at ChampionsGate. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia’s Miami and Boca Raton offices secured the financing. The lender was Walton Street Capital. The Summit at Metrowest is a 280-unit community comprised of one-, two- and three-bedroom units. The property is situated within the MetroWest master-planned community. The Legends at ChampionsGate is a 252-unit property made up of one- …

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Village-of-Valor-Florida
Affordable HousingDevelopmentFinanceNews

ROAD to Housing Act Clears Path for Affordable Housing Development

by Lynn Peisner

The affordable housing industry has spent years asking Congress for a federal response to the nation’s housing shortage. With the 21st Century ROAD to Housing Act having officially become law on July 11, industry groups are treating the legislation as a rare bipartisan win — not because it solves the crisis unilaterally but because it tackles several of the bottlenecks that have slowed development and preservation. According to the National Low Income Housing Coalition, the nation is short 7.2 million affordable and available rental homes for extremely low-income households. The …

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