Author

Lynn Peisner

The-Greene
DevelopmentGeorgiaNewsSoutheast

RangeWater Breaks Ground on Suburban Atlanta Development

by Lynn Peisner

LAWRENCEVILLE, GA. — RangeWater Real Estate has broken ground on The Greene in Lawrenceville, about 30 miles northeast of Atlanta. The development is RangeWater’s seventh ground-up project in the Atlanta suburbs and its 28th in Georgia to date. Kinea Investimentos, a Sao Paulo-based investment firm, is a financial partner in The Greene. RangeWater’s internal construction division, RangeWater Construction, is leading the building efforts on the 21-acre site. The property’s 300 units will be offered in a unit mix that includes studios and one-, two- and three-bedroom floor plans. A resort-style …

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Heuberger-Marshall
Company NewsNewsPeople NewsSoutheast

Fogelman Names Two New Presidents

by Lynn Peisner

MEMPHIS, TENN. — Fogelman has appointed Kristy Heuberger president of Investment Management and promoted Justin Marshall to president of property services. Heuberger formerly served as co-head of the Americas and head of asset management at LaSalle Investment Management, where she oversaw $30 billion in assets under management and led a team of approximately 250 real estate investment professionals. In the newly created role, Heuberger will oversee transactions, portfolio management, asset management, capital formation and investor relations. Justin Marshall, formerly chief operating officer, has been promoted to president of property services. …

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Agave-Ridge-PHX
ArizonaInvestment SalesNewsWestern

29 Street Capital Acquires North Phoenix Asset

by Lynn Peisner

PHOENIX — Chicago-based multifamily investment firm 29th Street Capital has acquired Urban 148 in Phoenix. The 148-unit property will be rebranded as Agave Ridge Apartments, and 29th Street Living will handle property management. According to Apartments.com, the community offers two- and three-bedroom floor plans at monthly asking rents ranging from $1,425 to $1,655 and such amenities as a pool, a playground, a courtyard and a dog park. The seller and sales price were not disclosed.

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Paseo-at-COMM22-San-Diego
Affordable HousingCompany NewsOperations

Avanath, BRIDGE Form Affordable Housing Property Management Company

by Lynn Peisner

SAN FRANCISCO AND IRVINE, CALIF. — BRIDGE Housing and Avanath Communities have jointly formed an affordable and workforce housing property management company called Brighthaven Communities. Initially, Brighthaven will provide property management services to the two organizations’ combined portfolio of properties, which totals approximately 30,000 affordable homes across 15 states. The new company plans to extend its services beyond the partners’ own properties to include other nonprofit and for-profit owners of affordable and workforce housing communities. Brighthaven will be governed by a six-member board with equal representation from both organizations. Avanath …

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rosemont-st-johns-Jacksonville
FloridaInvestment SalesNewsSoutheast

American Landmark Buys Rosemont St. Johns in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit property in Jacksonville that was built in 2007. The seller and sales price was not disclosed. Situated at 12310 Seacrest Lane, Rosemont St. Johns offers one-, two- and three-bedroom units and amenities such as a resort-style pool with a sundeck, a clubhouse with a resident lounge and entertainment kitchen, a 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The company says the community will be rebranded. American Landmark is based in Tampa and …

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Butler-Brad
Affordable HousingFinanceIndustry Voices

OBBBA’s Impacts on the LIHTC Program

by Lynn Peisner

For years, our country has been faced with a housing affordability crisis that has seemed to worsen each year. In fact, as of the end of last year, nearly 50 percent of all renters are considered cost-burdened by their monthly rent payments. While the low-income tax credit (LIHTC) program has historically been very successful in creating affordable housing across the country, there are certain constraints that limit the total number of units that can be created each year. However, recent changes arising from the One Big Beautiful Bill Act (OBBBA) …

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bode-columbia-city-Seattle
DevelopmentFinanceNewsWashingtonWestern

Dwight Mortgage Trust Provides $44 Million Bridge Loan to Seattle Developer

by Lynn Peisner

SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Washington, offering studios and one-, two- and three-bedroom floor plans.

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The-Arbors-at-Brighton-Park-Bloomfield
ConnecticutInvestment SalesNewsNortheast

Paredim Communities Sells Arbors at Brighton Park in Connecticut

by Lynn Peisner

BLOOMFIELD, CONN. — Institutional Property Advisors (IPA) has arranged the sale of The Arbors at Brighton Park, a 132-unit community in Bloomfield, about six miles northwest of Hartford, Connecticut. IPA’s Victor Nolletti, Eric Pentore and Wes Klockner, represented the seller, Paredim Communities, and procured the buyer, Beachwold Residential LLC. The Arbors at Brighton Park was completed in 2017 and features controlled access, a clubhouse with a coffee bar, grills and verandas. The unit mix includes one-, two- and three-bedroom floor plans, all of which have full-size washers and dryers, walk-in …

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Langston-on-Seventh-DC
DevelopmentNewsNortheastWashington, D.C.

The Langston on Seventh Opens Near Howard University

by Lynn Peisner

WASHINGTON, D.C. — The Langston on Seventh, a 204-unit apartment community, has opened at the corner of 7th and S streets in Washington, D.C. The developers were Quadrangle Development and Capstone Development. Cooper Carry was the architect, and SK&A and PDI provided engineering services. Built on the former site of a Howard University research building, the eight-story, 280,000-square-foot community features 14,554 square feet of ground-floor retail, a 74-space, below-grade parking deck, a lobby, a pool deck, outdoor grills and dining areas, coworking spaces, a chef’s kitchen, sports simulator, a conference …

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The-Collins-Cleveland
DevelopmentMidwestOhio

The NRP Group Completes The Collins in Cleveland

by Lynn Peisner

CLEVELAND — Locally based The NRP Group has opened The Collins, a 316-unit luxury community on Cleveland’s Scranton Peninsula, a strip of land surrounded by the Cuyahoga River that was home to industrial businesses from the late 1800s through much of the 20th century. BKV Group was the architect, Dollar Bank served as the construction lender, and the Ohio Department of Development provided funds through its Brownfield Remediation and state Opportunity Zone programs. The Ohio Water Development Authority provided gap financing, and the City of Cleveland provided tax abatement and …

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