Author

Lynn Peisner

Village-of-Pine-Hills-Orlando
Affordable HousingDevelopmentFloridaNewsSoutheast

Ability Housing Breaks Ground on $35.7M Orlando Affordable Housing Development

by Lynn Peisner

ORLANDO, FLA. — Ability Housing has broken ground on the 96-unit Village of Pine Hills in the northwest Orlando neighborhood of Pine Hills. The development is located on approximately 9 acres at 5121 North Pine Hills Road. Plans call for three three-story residential buildings comprising a mix of one-, two- and three-bedroom apartments with rent restrictions ranging from 22 to 60 percent of area median income. Amenities will include a community center with a computer lab, a library and flexible spaces for workshops, training and events. Residents also will have …

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Ray-Smith
Company NewsMarylandNewsNortheastPeople NewsWashington, D.C.

Enterprise Community Development Names Ray Smith Senior Vice President of Real Estate Development

by Lynn Peisner

SILVER SPRING, MD. — Enterprise Community Development, a Silver Spring-based nonprofit affordable housing owner and developer, has named Ray Smith senior vice president of real estate development. In this role, Smith will lead the organization’s affordable housing development efforts across Washington, D.C., and Maryland. Smith brings approximately 30 years of experience in multifamily development, real estate finance and affordable housing, with expertise in site acquisition, entitlement, design oversight, capital structuring and project execution. Before joining Enterprise Community Development, Smith held senior leadership positions with Legacy Partners, Madison Capital Group, The …

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2121-Virginia-DC
Affordable HousingBerkadiaDevelopmentFinanceNewsNortheastWashington, D.C.

Carr Properties Obtains $92M for Office Conversion in D.C.’s Foggy Bottom

by Lynn Peisner

WASHINGTON, D.C. — Locally based Carr Properties is redeveloping a vacant office building at 2121 Virginia Ave. in Washington, D.C.’s Foggy Bottom neighborhood. Berkadia has arranged a $92 million construction loan through PNC Bank. Carr paid $23.5 million for the property in November 2025. The project was awarded a 20-year property tax abatement through D.C.’s Housing in Downtown program, an incentive aimed at encouraging commercial-to-residential conversions. Carr plans 30 affordable units as part of the roughly 300-unit project. Rent restrictions have not officially been disclosed, but they are expected to …

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Novel-Douglasville
DevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens NOVEL Douglasville in Metro Atlanta

by Lynn Peisner

DOUGLASVILLE, GA. — Crescent Communities has opened NOVEL Douglasville, a 300-unit community 20 miles west of Atlanta in The Trails mixed-use development. NOVEL Douglasville consists of five four-story buildings with one-, two- and three-bedroom units. Amenities include a resort-style pool, grills, firepit, open-air event and game lawn, a clubroom with a TV and full kitchen, and a covered porch with an outdoor fireplace. Further features include a coffee cafe and coworking space, fitness center, dog park and dog-wash stations.

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Oakvale-Anjou
Investment SalesNewsOregonWestern

Bender Equities Sells Two Oregon Properties for $83M

by Lynn Peisner

CORVALLIS, TALENT ORE. — Bender Equities has sold two properties in Oregon to Verdant Development Inc. for $83 million. Oak Vale is a 257-unit property in Corvallis, and Anjou Club in Talent is comprised of 181-units. Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon and Nick Ruggiero of IPA, in association with David Tabata, Marcus & Millichap’s broker of record in Oregon, represented the seller. Oak Vale is a 31-building property built in two phases in 1973 and 1995 on approximately 16 acres. Amenities include a lounge, game room, fitness …

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75-West-Dallas
Investment SalesNewsTexas

Machine, RPM Partner for North Dallas Acquisition

by Lynn Peisner

DALLAS — Machine Investment Group and RPM Living Investments have acquired 75 West, a 490-unit community in the Park Central submarket of North Dallas. RPM will also serve as property manager. Located at 7927 Forest Lane, 75 West comprises 490 units, half of which are townhomes with attached garages. The property also includes approximately 10,800 square feet of fully leased ground-floor retail space. Machine plans to invest in deferred and preventive maintenance, amenity enhancements and operational improvements designed to stabilize the asset. The seller was not disclosed, but the asset …

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Whitmore-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Thompson Thrift Breaks Ground on First Project in South Carolina

by Lynn Peisner

NORTH CHARLESTON, S.C. — Thompson Thrift has broken ground on The Whitmore at Ingleside, situated within the 1,500-acre Ingleside master-planned community in North Charleston. The 327-unit project marks the Indiana-based developer’s first in South Carolina. The Whitmore at Ingleside site is approximately 19 acres. The community will include studio, one-, two- and three-bedroom floor plans and a resort-style pool, 24-hour fitness center, pickleball court, pocket park, electric firepit gathering areas, grilling stations, pet spa, two dog parks and a social lounge with billiards, coffee bar, focus suites, conference room and …

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Swell-Apartments-Seattle
Affordable HousingFinanceNewsWashingtonWestern

Newmark Arranges $55M Refinancing for Swell Apartments in Seattle

by Lynn Peisner

SEATTLE — Newmark has arranged a $55 million loan on behalf of Mack Real Estate Group, Silverstein Properties and Cantor Fitzgerald to refinance Swell Apartments, a 200-unit community in Seattle. Jordan Roeschlaub, Chris Kramer, Sam Speciale and Lance Tillman arranged the financing with Tokyo-based ORIX, a commercial real estate finance and investment firm. Completed in 2024, Swell Apartments, in Seattle’s Yesler Terrace neighborhood, is comprised of market-rate and affordable units — restricted to tenants earning 60 to 80 percent of area median income — and amenities such as a rooftop …

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Rushmark-West-Falls-VA
DevelopmentFinanceNewsNortheastWashington, D.C.

Rushmark Secures Financing for $136M Development Near Metro D.C. Commuter Station

by Lynn Peisner

FALLS CHURCH, VA. — Rushmark has secured financing to develop a $136 million apartment community in West Falls Church. FCP provided $22 million of preferred equity, and PNC contributed a $92 million senior construction loan. Patrick McGlohn, Brian Crivella, Yalda Ghamarian, Brian Gould, Bill Gribbin and Patrick Cunningham of Berkadia DC Metro led the transaction. Located at the corner of Falls Church Drive and West Falls Station Boulevard, the seven-story community will offer a mix of one- and two-bedroom apartments and such amenities as work-from-home spaces, a clubroom, speakeasy and …

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Vermella-Harrison
FinanceNew JerseyNewsNortheast

JLL Arranges $75M Loan for Russo Development’s Vermella Harrison in New Jersey

by Lynn Peisner

HARRISON, N.J. — JLL has arranged a $75 million refinancing loan for Vermella Harrison, a 398-unit community at 1100 Frank E. Rogers Blvd. in Harrison, about 12 miles west of Manhattan. An unnamed life insurance company was the lender, and the borrower was Russo Development. Completed in 2015, Vermella Harrison is a six-story building offering studio, one- and two-bedroom units and a fitness center and yoga studio, bocce ball court, dog run, rooftop terrace, pool and clubhouse. The property is approximately 97 percent occupied and includes five ground-floor retail spaces …

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