Author

Lynn Peisner

Convent-Ave-NYC
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Haussmann Secures $40.8M Loan, Breaks Ground on Manhattan Mixed-Income Development

by Lynn Peisner

NEW YORK CITY — Haussmann Development has obtained a construction loan for approximately $40.8 million and broken ground on an 84-unit building at 16-20 Convent Ave. in North Manhattan. Affinius Capital provided the construction loan in partnership with Axonic Capital. The building will include ground-floor community space that will serve as the third location of Little Legacy Village, the childcare practice that Haussmann co-founded. Completion of the ground-up Opportunity Zone project is slated for early 2028. The project will include an unspecified number of permanently affordable units. It is being …

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Newnan-Crossing-Newnan
DevelopmentGeorgiaNewsSoutheast

Wood Partners Breaks Ground on Alta Newnan Crossing in Metro Atlanta

by Lynn Peisner

NEWNAN, GA. — Wood Partners has broken ground on Alta Newnan Crossing in Newnan, 40 miles southwest of Atlanta. Alta Newnan Crossing features 274 apartment units in a mix of one-, two- and three-bedroom layouts as well as seven townhomes, each with three bedrooms, two bathrooms and a two-car garage. Amenities include a clubhouse, fitness room, package room, coworking space, a courtyard and resort-style pool. The site will also provide connectivity to the LINC Trail, Newnan’s multi-use path system. Completion is slated for fall 2027.

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The-Arbor-NYC
Investment SalesNew YorkNewsNortheast

PGIM Buys The Arbor in The Bronx for $73.5M

by Lynn Peisner

NEW YORK CITY — PGIM, the investment management business of Prudential Financial (NYSE: PRU), has acquired The Arbor, a 127-unit community in the Riverdale neighborhood of the Bronx for approximately $73.5 million. The transaction marks the 10th acquisition with the PGIM Real Estate Fund. PGIM partnered with Fetner Properties in the deal through a sale and leaseback with the seller, Columbia University. To date, PGIM has deployed $260 million through the fund, representing approximately $632 million in gross property value.

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Evolve-Crossing-Burlington
DevelopmentFinanceNewsNorth CarolinaSoutheast

Northmarq Arranges $38M for Construction of Evolve Crossing in Burlington, North Carolina

by Lynn Peisner

BURLINGTON, N.C. — Northmarq has arranged $38 million in construction financing for Evolve Crossing, a 210-unit community Evolve Cos. is developing in Burlington. Northmarq’s Chris Hammel arranged the loan through lender CrossHarbor Capital Partners. Evolve Crossing will be a garden-style community featuring one-, two- and three‑bedroom units with such amenities as a resort-style pool with lounge, outdoor kitchens, parking, coworking space, a gym with a yoga studio and a dog park with pet spa station. Completion is slated for 2028. Evolve Cos. is a Greensboro, North Carolina-based investment and development …

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Pointe-Grand-Interbay-Tampa
Affordable HousingDevelopmentFloridaNewsSoutheast

Hillpointe Obtains $67M in Financing, Breaks Ground on Tampa Affordable Housing Development

by Lynn Peisner

TAMPA, FLA. — Hillpointe has secured $67 million in construction financing and broken ground on Pointe Grand Interbay at Tampa, a 408-unit community in South Tampa. Built under the state’s Live Local Act, an affordable housing law that gives developers zoning, height and density incentives for projects that include workforce or affordable housing, the residences, all two-bedroom, two-bath floor plans, will be reserved for renters earning no more than 80 to 120 percent of area median income. Hillpointe Construction, the Winter Park, Florida-based firm’s in-house general contractor, is leading the …

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FinanceInvestment SalesNewsTexas

Sade Real Estate Secures $128.5M to Acquire The Arno in Houston

by Lynn Peisner

HOUSTON — Locally based Sade Real Estate has obtained $128.5 million in acquisition financing for The Arno, a 40-story, 168-unit luxury community at 2929 Weslayan St. in Houston’s River Oaks neighborhood. Hudson Bay Capital provided the financing, which was arranged by Walker & Dunlop’s Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly and Sean Bastian.

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Benjamin-Collins-Crescent-Communities
Company NewsNorth CarolinaPeople News

Crescent Communities Promotes Benjamin Collins to President of Multifamily

by Lynn Peisner

CHARLOTTE, N.C. — Crescent Communities has promoted Benjamin Collins to president of multifamily. Collins succeeds Jay Curran, who previously served in the role and was named chairman and chief executive officer of the Charlotte-based investor, developer and operator in April. In his new position, Collins will lead the strategic direction, growth and performance of the company’s multifamily platform, which develops communities under the NOVEL brand. He will oversee development, investment and operations across Crescent Communities’ platform nationwide.

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The-Elex-Fort-Wayne
Affordable HousingDevelopmentFinanceIndianaMidwestNews

Merchants Capital Provides $99M for General Electric Adaptive Reuse Project in Fort Wayne, Indiana

by Lynn Peisner

FORT WAYNE, IND. — Merchants Capital has secured a Freddie Mac loan and provided equity totaling approximately $99 million for The Elex, a 296-unit mixed-use, mixed-income community now leasing in Fort Wayne. The Elex is part of Electric Works, the multiphase redevelopment of Fort Wayne’s former General Electric industrial campus. The 296-unit residential phase opened in April. The Elex was developed by Biggs Group in partnership with Ancora, the master developer of Electric Works; Weigand Construction; the project’s construction partner; and MSquared, a development partner focused on mixed-income and affordable …

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Design-panel-web
Affordable HousingArchitecture & DesignConference CoverageFeaturesSoutheastSustainable/LEED

Architects Leverage Creative Design, Advanced Technology to Build Affordable Housing in the Southeast 

by Lynn Peisner

By Matthew Auchincloss   The dire need for more affordable rental housing across the country has been well-documented, but the pathway to delivery is full of potential pitfalls, says Ian Hunter, regional director at Dwell Design Studio, who operates out of the architectural firm’s Atlanta office. In short, there are several ways for projects to “get stuck,” he points out.    At the top of the list is funding, but the entitlement process, design, construction costs and operations are also potential impediments to getting an affordable housing project from conception to inception.   …

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Aspire-Cherry-Creek-Denver
Investment SalesNewsTexas

Dinerstein Cos. Buys Three Communities in Colorado and Texas, Plans $18.7M in Improvements

by Lynn Peisner

HOUSTON — The Dinerstein Cos. (TDC) has completed three acquisitions consisting of two multifamily properties and one student housing property. The Houston-based firm has acquired the 218-unit Aspire Cherry Creek in Denver, the 325-unit Aspire Park Lane in Dallas and Sterling College Station, a 1,128-bed student housing community in College Station, Texas. TDC is planning $18.7 million in capital improvements across the three assets. TDC has developed properties in Denver, but Aspire Cherry Creek marks the firm’s first acquisition in the market. The asset was built in 2015 and includes …

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