Author

Lynn Peisner

1000-W-Jackson-Chicago
Affordable HousingDevelopmentFinanceIllinoisMidwestNews

Affinius Originates $130.4M Construction Loan for Aldi-Anchored Chicago Project

by Lynn Peisner

CHICAGO — Affinius Capital has originated a $130.4 million construction loan to finance 1000 W. Jackson, a 25-story development in Chicago’s West Loop submarket. The developer is a joint venture between Chicago-based Mavrek Development and Toronto-based Fengate Asset Management, a North American alternative investment manager. John Parrett of CBRE arranged the financing. The project will include 21,500 square feet of retail pre-leased to Aldi and 380 apartments, including 76 units set aside as affordable. Rent restrictions were not disclosed. Floor plans range from studios to three-bedroom units complemented by amenities …

Continue Reading
0 FacebookTwitterLinkedinEmail
Lookout-Pointe-Selma
DevelopmentNewsTexas

Inland, Cambridge Near Completion of Metro San Antonio Project

by Lynn Peisner

SELMA, TEXAS — A joint venture comprised of affiliates of Inland Real Estate Group of Cos. and Cambridge Development Group is nearing completion of Lookout Pointe, a 281-unit development in the northeast San Antonio suburb of Selma. The first residences are slated for completion in October. The community is comprised of studios, one- and two-bedroom units complemented by a clubhouse, fitness center, business center, resort-style pool, dog park and a rooftop patio with a gas grill and outdoor entertainment areas.

Continue Reading
0 FacebookTwitterLinkedinEmail
St-James-Milwaukee
Affordable HousingInvestment SalesMidwestNewsWisconsin

Weidner Sells Two-Asset Milwaukee Portfolio for $60M

by Lynn Peisner

MILWAUKEE — Weidner Apartment Homes has sold a two-property portfolio in Milwaukee’s Calumet Farms neighborhood for $60 million. Beverly Hills, California-based Bedford Affordable Housing Foundation, in partnership with Post Real Estate Group, acquired the 374-unit St. James Place and Arbor Ridge. The properties are less than a quarter mile apart. The new owners plan to convert the market-rate properties to affordable housing with rents restricted to 60 and 80 percent of area median income. Sean Beuche, Matson Holbrook and Gretchen Richards of CBRE represented the seller in the transaction. Jim …

Continue Reading
0 FacebookTwitterLinkedinEmail
High Park-New-Albany
IndianaInvestment SalesMidwestNews

Highgates Sells High Park in Indiana for $6.6M

by Lynn Peisner

NEW ALBANY, IND. — Highgates, a Louisville, Kentucky-based multifamily developer and operator, has sold High Park Apartments in New Albany, about 5 miles northwest of Louisville, for $9.5 million. Highgates acquired High Park in July 2019 for approximately $6.6 million and owned and operated the property through its in-house management for seven years. During that period, the firm invested about $500,000 in capital improvements, which covered roofing, HVAC systems and unit-interior upgrades. The property was financed at acquisition with a 10-year, fixed-rate Freddie Mac loan, which remained in place for …

Continue Reading
0 FacebookTwitterLinkedinEmail
500-North-Michigan-Chicago
DevelopmentIllinoisMidwestNews

Commonwealth Development Partners Obtains Financing, Breaks Ground on Chicago Office-to-Residential Conversion

by Lynn Peisner

CHICAGO — Commonwealth Development Partners has broken ground on the $162 million redevelopment of 500 North Michigan Ave. in Chicago. JLL arranged a $71.5 million construction loan through Santander Bank and $41.8 million in equity from Washington Capital Management. The project will convert a 25-story office tower, built in 1968, to a 320-unit luxury apartment community in Chicago’s Magnificent Mile district. Twenty percent of units will be designated affordable, rent restricted to 40 to 80 percent of area median income. Connecticut-based Commonwealth Development and partner Triangle Capital Group acquired the …

Continue Reading
0 FacebookTwitterLinkedinEmail
137-20-45th-Ave-Auburn-Flushing
Affordable HousingFinanceNew YorkNewsNortheast

Iris Holdings Group Obtains $86.4M Refinancing for Four-Property Affordable Housing Portfolio in Flushing, Queens

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged an $86.4 million Freddie Mac refinancing for locally based Iris Holdings Group’s 506-unit portfolio in the Flushing neighborhood of Queens. The four properties are clustered together and are within walking distance. Iris Holdings partnered with the New York City Department of Housing Preservation and Development in 2024 to preserve the this project at varying levels of affordability for the next 40 years. As part of that effort, Iris completed major building-system upgrades, unit renovations and a range of energy-efficiency improvements. Walker …

Continue Reading
0 FacebookTwitterLinkedinEmail
Dakota-Pointe-South-Sioux-City
Investment SalesMidwestNebraskaNews

Greysteel Brokers $15.3M Trade in Nebraska

by Lynn Peisner

SOUTH SIOUX CITY, NEB. — Greysteel has arranged the $15.3 million sale of Dakota Pointe, a 143-unit community in South Sioux City, which is directly across the Missouri River from Sioux City, Iowa. The buyer and seller were undisclosed local investors. Greysteel represented the seller. At closing, Dakota Pointe was fully occupied. It features a mix of one-, two- and three-bedroom units. The property was built in 1994. Amenities include a fitness center, pool, clubhouse and parking. Greysteel covers Nebraska, Iowa and surrounding states from its Omaha, Nebraska, and West …

Continue Reading
0 FacebookTwitterLinkedinEmail
Brookridge-Nashville
Affordable HousingInvestment SalesNewsSoutheastTennessee

Blackfin, Enterprise Community Partners Buy Brookridge Apartments in Nashville for $26M

by Lynn Peisner

NASHVILLE, TENN. — Blackfin Real Estate Investors and Enterprise Community Partners have acquired the 177-unit Brookridge Apartments in the South Nashville neighborhood of Antioch for $26 million. The acquisition was backed by an Enterprise equity fund that supports joint ventures on properties where affordable rents can be preserved. “As costs continue to rise in high-growth markets like Nashville, preserving existing affordable and workforce housing is more important than ever,” said Lianna Petroski, senior vice president, head of acquisitions and deputy fund manager at Enterprise. Located at 100 Brookridge Trail, Brookridge …

Continue Reading
0 FacebookTwitterLinkedinEmail
Nick-OBrien-NRPNick-OBrien-NRP
Affordable HousingCompany NewsDevelopmentPeople News

The NRP Group Hires Nicholas O’Brien to Expand Affordable Housing Development in New York

by Lynn Peisner

NEW YORK CITY — The NRP Group has appointed Nicholas O’Brien as vice president of affordable housing development and finance in New York. O’Brien will help expand The NRP Group’s affordable housing pipeline across New York State outside the five boroughs, including Long Island, Westchester County, the Hudson Valley and Upstate New York. He will report to Jonathan Gertman, senior vice president of development, who oversees market-rate and affordable development efforts in New York. In his new role, O’Brien will identify and evaluate new affordable housing development opportunities, support transaction …

Continue Reading
0 FacebookTwitterLinkedinEmail
5550-Wilshire-Los-Angles
CaliforniaInvestment SalesNewsWestern

Decron Properties Buys Los Angeles Property for $114M

by Lynn Peisner

LOS ANGELES — Locally based Decron Properties has acquired 5550 Wilshire, a 163-unit mixed-use apartment community in the Miracle Mile area of Los Angeles. According to the Los Angeles Business Journal, the seller was private equity real estate investor GID, headquartered in Atlanta. The asset sold for $114 million. Blake Rogers of JLL arranged the transaction. Developed in 2010, 5550 Wilshire offers one-, two- and three-bedroom apartments and townhomes. Amenities include a resort-style pool, hot tub, rooftop lounges, movie theater and parking for 484 vehicles. The property also includes 14,686 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2026 France Publications, dba France Media Inc.