Author

Lynn Peisner

The-Hawthorne-Riverside
CaliforniaInvestment SalesNewsWestern

PCCP, Alliance Residential Buy The Hawthorne in Riverside, California, for $65.3M

by Lynn Peisner

RIVERSIDE, CALIF. — A joint venture between PCCP and Alliance Residential Co. has acquired The Hawthorne at 9170 Indiana Ave. in Riverside. An undisclosed seller sold the 184-unit property for $65.3 million. Situated on 6.7 acres and consisting of 16 three- and two-story buildings and one single-story amenity building, The Hawthorne was delivered in 2023 and is a garden-style community. The property offers a mix of one-, two- and three-bedroom floor plans averaging approximately 873 square feet. Amenities include a resort-style pool and hot tub with cabanas, multiple landscaped courtyards …

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Alta-Rise-Gilbert
ArizonaInvestment SalesNewsWestern

Wood Partners Sells Alta Rise in Gilbert, Arizona

by Lynn Peisner

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Alta Rise in North Gilbert, Arizona. IPA’s Steve Gebing and Cliff David represented the seller, Atlanta-based Wood Partners, which developed the property, opening it in 2025. IPA also procured the unnamed buyer. The 278-unit community is a four-building property with a fourth-floor lounge and deck. Additional amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts and a resort-style pool and hot tub. Apartments feature walk-in closets with built-in shelving, kitchens …

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Affordable HousingNevadaNewsOperationsWestern

Stout Management Selected as Property Manager for Las Vegas Affordable Housing Development

by Lynn Peisner

NORTH LAS VEGAS, NEV. — Illinois-based Brinshore Development has selected locally based Stout Management Co. as property manager for Vegas View Flats, an affordable housing community at 620 W. Lake Mead Blvd. in North Las Vegas. The 76-unit property, currently in the lease-up phase, offers studios, one-, two- and three-bedroom apartments reserved for renters earning up to 50, 60 or 80 percent of area median income. Stout will oversee day-to-day operations, leasing, compliance and long-term management of the community.

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River-Oaks-Norfolk
Investment SalesNewsSoutheastVirginia

Greysteel Brokers $10M Sale of River Oaks in Norfolk, Virginia

by Lynn Peisner

NORFOLK, VA. — Greysteel has brokered the sale of River Oaks Apartments in Norfolk. The 100-unit community sold to a Virginia-based private investor for $10 million. Located at 1464 Gabriel Drive, River Oaks consists of one- and two-bedroom apartments. Greysteel secured an acquisition loan that included capital expenditure funding for future renovations.

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ICON-165-Long-Branch
Investment SalesNew JerseyNewsNortheast

ICON Arranges $19.4M, Two-Property Sale in Long Branch, New Jersey

by Lynn Peisner

LONG BRANCH, N.J. — ICON Real Estate Advisors has arranged the $19.4 million sale of The Pavilion, a 46-unit multifamily building at 165 Pavilion Ave., and an adjacent retail property at 231 Third Ave. in Long Branch, 57 miles south of Manhattan. The buyer, Henshaw Realty, acquired the assets as part of a 1031 exchange following the sale of a New York City asset. The seller was Jebara Partners, the original developer. The Pavilion was completed in 2021 and is a five-story building. The retail property is occupied by tenants …

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FinanceNewsTexas

Northmarq Arranges Refinancing of Wood River Apartments in Corpus Christi, Texas

by Lynn Peisner

CORPUS CHRISTI, TEXAS — Northmarq has arranged the refinancing of Wood River Apartments, a 199-unit property in Corpus Christi. Cheryl Higley and Ryan Shoars led the team that secured the undisclosed amount of financing through Northmarq’s in-house Edge platform. Built in 1983, Wood River Apartments is comprised of one-, two- and three-bedroom floor units across two 17-story buildings.

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FinanceNews

HGI, Garrett Cos. and Telis Group Obtain $351M Refinancing for Eight-Property Portfolio

by Lynn Peisner

NORFOLK, VA. — Affiliates of Norfolk-based Harbor Group International (HGI), in partnership with The Garrett Cos. and Telis Group, have refinanced senior construction debt across an eight-property portfolio through a $351 million loan originated by ACRE. Walker & Dunlop arranged the financing. The eight properties are part of a broader 11-asset multifamily portfolio recapitalized by HGI, The Garrett Cos. and Telis Group in January 2025. The refinanced portfolio includes five properties across the Denver and Colorado Springs metros and one asset each in the Phoenix, Indianapolis and Minneapolis metropolitan areas. …

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Midblock-Poughkeepsie
Affordable HousingDevelopmentNew YorkNewsNortheast

Mega Development Group, Ametrine Group Begin Construction of $147M Mixed-Income Redevelopment in Poughkeepsie, New York

by Lynn Peisner

POUGHKEEPSIE, N.Y. — Mega Development Group and Ametrine Group have broken ground on Wallace Campus, a $147 million redevelopment of a vacant former department store in Poughkeepsie. Developed in partnership with on-site social services provider Mental Health America of Dutchess County, the project will convert the former Wallace Department Store, constructed in the 1870s, into 69 apartments while creating an additional 118 units across two new buildings. Wallace Campus will be affordable to households earning up to 80 percent of area median income. The unit mix is comprised of studios, …

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Craig-Johnsen-PPR-Capital-Management
FinanceIndustry VoicesInvestment Sales

Why a Recalibrating Multifamily Market Rewards Patient Investors

by Lynn Peisner

By Craig Johnsen Few sectors have shifted more over the past five years than multifamily housing. From 2020 through 2022, asset prices climbed at a rate that, in retrospect, far outpaced the underlying drivers of long-term value. From 2023 through 2025, those same assets gave back much of that appreciation as capital pulled back, lenders grew more cautious and headlines became less favorable. To a casual observer, the sector now looks like one to wait out. If you are deeply embedded in the economics of the industry, however, it could …

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Mosa-Elk-Grove
Affordable HousingCaliforniaInvestment SalesNewsWestern

HVPG Buys Metro Sacramento Affordable Housing Property for $83.6M

by Lynn Peisner

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, 14 miles south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 …

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