Author

Lynn Peisner

Bayside-Apartments-Sarasota
DevelopmentFinanceFloridaNewsSoutheast

Allen Morris Co. Secures $43M to Develop Phase II of Bayside in Sarasota, Florida

by Lynn Peisner

SARASOTA, FLA. — Developer Allen Morris Co. has secured a $43 million construction loan to develop Bayside North, the second phase of the $250 million Bayside project in Sarasota. Affinius Capital and Axonic Capital provided the financing. Bayside North will include a seven-story, 96-unit building with one-, two- and three-bedroom floor plans. Fifteen units are classified as workforce housing. Rent restrictions were not disclosed. The property will feature a top-floor clubhouse with views of Sarasota Bay. Ground-floor amenities include a pickleball court and a 3,000-square-foot restaurant. The broader Bayside community …

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Hays-Park-Kyle
Investment SalesNewsTexas

Haven Housing Acquires Hays Park Apartments in Kyle, Texas

by Lynn Peisner

KYLE, TEXAS — Haven Housing, the multifamily and affordable housing division of Los Angeles-based BH Properties, has acquired Hays Park Apartments in Kyle, 21 miles southwest of Austin. Haven Housing was represented by Walker & Dunlop’s Kevin Dufour, Matt Pohl, Spencer Roy and Forrest Bass. Terms of the transaction were not disclosed. The 309-unit, garden-style property, located at 828 Bebee Road, was built in two phases in 2014 and 2016. Comprised of one- and two-bedroom floor plans, Hays Park was 90 percent occupied at the time of the sale. Amenities …

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Central-Pointe-Newark
DevelopmentFinanceNew JerseyNewsNortheast

Drew Capital Arranges $16.3M Construction Loan for Central Pointe in Newark

by Lynn Peisner

NEWARK, N.J. — Akiva Drew, founder of Drew Capital, has arranged a $16.3 million loan through Trevian Capital for the construction of Central Pointe, a 77-unit property in the University Heights neighborhood of Newark. Locally based Giga Holdings is the borrower and developer. The six-story structure will be located at 380 Central Ave. between First Street and Morris Avenue. Floor plans will consist of one- and two-bedroom layouts, and 16 units will be set aside as affordable. Rent restrictions were not disclosed. Amenities include a fitness center and coworking and …

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Colibri-Commons-East-Palo-Alto
Affordable HousingCaliforniaDevelopmentNewsOperationsWestern

MidPen, EPACANDO Open Colibri Commons, a 136-Unit Affordable Housing Community in East Palo Alto, California

by Lynn Peisner

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. Units are reserved for tenants earning no more than 30 and 60 percent of area median income. Units range from studio to four-bedroom floor plans. Amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for …

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C-on-Pico-Los-Angeles
Affordable HousingCompany NewsDevelopmentInvestment SalesOperations

$69M Apartment REIT Megamerger: AvalonBay, Equity Residential Agree to Join Forces

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — Equity Residential (NYSE: EQR) and AvalonBay Communities (NYSE: AVB) have agreed to merge, creating the largest publicly traded apartment REIT in the United States with a combined portfolio of more than 180,000 rental apartments. The deal is expected to close in the second half of 2026, at which time the company’s new name and stock symbol will be announced.  Based on the National Multifamily Housing Council’s 2026 Top 50 Owners rankings, the owned portfolio of the newly combined AvalonBay and Equity Residential entity will exceed …

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Manors-Matteson
IllinoisMidwestNewsOperations

Haven Realty Sells Manors at Brookmere in Metro Chicago for $26.4M

by Lynn Peisner

MATTESON, ILL. — Haven Realty Capital has sold The Manors at Brookmere in Matteson to Haven Realty Capital for $26.4 million. Cushman & Wakefield’s Brad Smith, Jack Maloney and Anna Lovell represented Haven in the transaction. Haven subsequently tapped Daniel Management Group (DMG) to manage the property. The Manors at Brookmere is a 108-unit build-to-rent townhome community in Matteson, 31 miles south of Chicago. Units are offered in two- and three-bedroom layouts and include one- or two-car garage options and full-sized washers and dryers. The community, built in 2021 by …

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The-Point-at-Deerfield-Plano
ColoradoCompany NewsNewsOperationsTexasWestern

The Paskin Group Selects Asset Living to Manage 17-Property Portfolio

by Lynn Peisner

HOUSTON, TEXAS — Asset Living has assumed management of a 17-property portfolio owned by The Paskin Group. Thirteen of the 17 communities are in Texas and transitioned to Asset Living’s managed portfolio on May 13. The remaining properties are in Colorado. Asset Living will assume management of those communities in August. The Paskin Group is a Santa Barbara, California-based real estate investment company focused on acquiring value-add multifamily properties. Asset Living was ranked second in the National Multifamily Housing Council’s 2026 Top 25 with 288,665 units under management. The Houston-based …

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biscayne-shores-North-Miami
FloridaInvestment SalesNewsSoutheast

RPM Living, Cantor Fitzgerald Asset Management Buy Biscayne Shores in North Miami

by Lynn Peisner

NORTH MIAMI, FLA. — RPM Living and affiliates of Cantor Fitzgerald Asset Management (CFAM), the investment and asset management division of global financial services and real estate holding group Cantor Fitzgerald, have acquired Biscayne Shores in North Miami, an 8-acre property developed by Integra Investments, the seller. Integra’s development partners included Andrew Korge of Korgeous Group and David Larson of DCL Capital. The group acquired the site in 2020 and completed construction in 2024. The transaction follows previous CFAM and RPM acquisitions in Dallas, Denver, Houston, Orlando and Tampa. Terms …

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FinanceInvestment SalesNewsSoutheastTexas

Hilltop Residential Closes $288M Fund

by Lynn Peisner

HOUSTON — Hilltop Residential, an owner of multifamily real estate that operates across 15 markets in the southeastern United States, has closed Hilltop Growth Fund VI with $288 million in total commitments. Hilltop will seek value-add assets in business-friendly markets demonstrating population and job growth. The investor base includes endowments and foundations, financial institutions, insurance companies, national registered investment advisor (RIA) platforms and family offices. Hilltop expects Fund VI to acquire approximately $1.5 to $2 billion in gross asset value. Through the fund, nine assets have been acquired to date, …

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Brad-Butler
Affordable HousingDevelopmentFinanceIndustry Voices

Urban Multifamily Development: The Ultimate Love‑Hate Relationship

by Lynn Peisner

By Brad Butler The lack of affordable rental housing in the United States has reached alarming levels, and the problem seems to worsen with each passing month. As job creation has slowed in certain industries, many people are moving to urban areas in search of better employment opportunities, housing options and long-term economic stability. From the outside, this trend could make urban multifamily development look like an easy entry point into the business. But looks can be deceiving. While urban markets offer many advantages, development in these areas is significantly …

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