Author

Lynn Peisner

The-Hedrick-Kissimme
DevelopmentFinanceFloridaNewsSoutheast

Hedrick Brothers Obtains $56.5M Loan, Breaks Ground on 366-Unit Project in Kissimmee, Florida

by Lynn Peisner

KISSIMMEE, FLA. — Hedrick Brothers Development has obtained a $56.5 million construction loan for The Hedrick at Lake Toho, a 366-unit community along Toho Grande Boulevard in Kissimmee. Construction has commenced, with completion slated for the end of 2028. Pre-leasing is expected to begin in 2027. Located on approximately 22 acres, The Hedrick at Lake Toho will feature a mix of one-, two- and three-bedroom units complemented by a resort-style pool with cabanas and fire pit, clubhouse with coworking and gaming spaces, pickleball courts, a yoga lawn, dog park, pet …

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El-Camino-Real-San-Carlos
Affordable HousingCaliforniaDevelopmentNewsWestern

SummerHill, KTGY Break Ground on 11 El Camino Real in San Carlos, California

by Lynn Peisner

SAN CARLOS, CALIF. — SummerHill Apartment Communities, with architect KTGY, has broken ground 11 El Camino Real, situated on 2.2 acres in San Carlos, 23 miles south of San Francisco. The project includes 251 units, in studio through three-bedroom floor plans, and 38 affordable units, reserved for a variety of income levels. Amenities feature a pool, hot tub, landscaped courtyards, clubroom, fitness center, leasing office, resident lounge, bike room and mail room. The community is within about 1 mile of two Caltrain stations with commuter service throughout the Bay Area. …

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Regents-Park-Holly-Hill
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Arranges $4.6M Sale of Regents Park in Holly Hill, Florida

by Lynn Peisner

HOLLY HILL, FLA. — Marcus & Millichap has arranged the sale of Regents Park, a 32-unit property in Holly Hill, 3 miles north of Daytona Beach. The asset sold for $4.6 million. Jason Hague and Ned Roberts of Marcus & Millichap marketed the property on behalf of the seller, locally based Carrot Properties, and procured the undisclosed buyer. Located at 660 8th St., Regents Park totals 28,798 square feet across three two-story buildings on a 5.5-acre lot. The community was built in 1986, and approximately 80 percent of the units have …

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The-Rae-Bethesda
FinanceMarylandNewsNortheast

PCCP Provides $80M Refinancing for Foulger-Pratt’s The Rae in Bethesda, Maryland

by Lynn Peisner

BETHESDA, MD. — PCCP has provided an $80 million refinancing loan to Foulger-Pratt for The Rae, a 343-unit property at 10401 Motor City Drive in Bethesda. The Potomac, Maryland-based investment and development firm completed the property in mid-2023. The Rae is comprised of studio, one- and two-bedroom units as well as a two-story, 24-hour fitness center, sports bar, garden space with hammocks and fire pits, pet wash facilities and bike storage. Units feature LVP flooring, kitchen islands, tile backsplashes and showers and stainless-steel appliances.

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GoodHomes-Arlington
Affordable HousingDevelopmentInvestment SalesNewsNortheastVirginiaWashington, D.C.

GoodHomes Acquires Metro D.C. Hotel, Plans Multifamily Conversion

by Lynn Peisner

ARLINGTON, VA. — GoodHomes Communities has acquired Arlington Court Suites in Alexandria for $35 million and plans to convert the 187-unit hotel into a 180-unit multifamily community. The KLNB multifamily capital markets team led by Rawles Wilcox, Justin Shay and Dutch Seitz and the HREC Investment Advisors team of Mark Morris and Scott Stephens represented the seller, Arlington Hotel Holdings Inc. GoodHomes is a New York City-based investor that acquires under-performing hospitality and seniors housing assets and redevelops them as workforce housing serving residents earning between 60 and 120 percent …

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Citadel-Urban-San-Antonio
FinanceNewsTexas

Cambridge Development Group Refinances Citadel Urban in San Antonio

by Lynn Peisner

SAN ANTONIO — CBRE has arranged a refinancing loan on behalf of Cambridge Development Group, the Houston-based owner of Citadel Urban in San Antonio. The 181-unit community is located in the Westover Hills submarket and was completed in 2024. Loan proceeds will be used to retire existing construction financing. Citadel Urban consists of two three-story buildings containing one- two- and three-bedroom units on 5.5 acres. CBRE’s John Fenoglio and Brock Hudson arranged the loan.

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Westbourne-Ashley-Landing-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Woodfield Development Breaks Ground on Westbourne Ashley Landing in Charleston

by Lynn Peisner

CHARLESTON, S.C. — Woodfield Development has acquired a portion of the 31-acre Ashley Landing redevelopment site for the construction of Westbourne Ashley Landing. The 285-unit community will serve as the multifamily component of the $348 million redevelopment of the former Ashley Landing enclosed mall. Once EDEN’s multi-phase redevelopment is complete, the site will feature approximately 240,000 square feet of retail, restaurant and commercial space anchored by Publix along with residential neighborhoods, public gathering areas and approximately 1 acre of central green space. Construction financing for Westbourne was provided by TD Bank …

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CRU-Redmond
Investment SalesNewsWashingtonWestern

Goodman Real Estate Sells Two Metro Seattle Assets for $172M

by Lynn Peisner

SEATTLE — Goodman Real Estate has sold two metro Seattle properties for a combined total of $172 million. CBRE’s Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club. It includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix …

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Wells-Park-Pflugerville
Investment SalesNewsTexas

Haven Housing Acquires Wells Park in Greater Austin Area

by Lynn Peisner

PFLUGERVILLE, TEXAS — Haven Housing has acquired Wells Park Apartments, a 264-unit garden-style community in the Austin suburb of Pflugerville. The seller and sales price were not disclosed. Haven Housing is the affordable and multifamily housing division of Los Angeles-based BH Properties, which launched in 2025. Walker & Dunlop’s Kevin Dufour, Matt Pohl, Spencer Roy and Forrest Bass represented Haven in the deal. Located at 15001 Strathaven Pass and built in 2018, Wells Park is comprised of one-, two- and three-bedroom units as well as a resort-style pool, fitness center …

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Landings-at-Pembroke-Lakes-Pembroke-Pines
FloridaInvestment SalesNewsSoutheast

Waterton Buys Landings at Pembroke Lakes in South Florida for $80.5M

by Lynn Peisner

PEMBROKE PINES, FLA. — Chicago-based Waterton has acquired The Landings at Pembroke Lakes, a 358-unit property in Pembroke Pines, 20 miles southwest of Fort Lauderdale. The South Florida Business Journal reports that Coral Gables, Florida-based Bar Invest Group sold the asset for approximately $80.5 million. The 27-acre community is built around a 45-acre lake and features green spaces, outdoor amenities and lakefront beaches. The Landings at Pembroke Lake was developed in 1989 and includes one- and two-bedroom units with screened-in patios or balconies. Waterton is planning to upgrade unit appliances, …

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