Author

Lynn Peisner

Wolf-Point-West-Chicago
FinanceIllinoisMidwestNews

JLL Arranges $141.8M Refinancing for Wolf Point West in Chicago

by Lynn Peisner

CHICAGO — JLL has arranged a $141.8 million refinancing loan for Wolf Point West, a 509-unit, 48-story tower in Chicago’s River North neighborhood. The borrower/owner is Hines in partnership with AFL-CIO Building Investment Trust, Magellan Development Group and the Joseph P. Kennedy Trust. New York Life Insurance Co. was the lender for the three-year, floating-rate loan. JLL’s team was led by Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang. Wolf Point West opened in 2016 and is a LEED Silver-certified building with 24-hour door staff, an outdoor pool with …

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Hunters-Branch-Fairfax
DevelopmentNewsNortheastVirginiaWashington, D.C.

Insight Property Groups Starts $174M Apartment Phase of Northern Virginia Office Redevelopment

by Lynn Peisner

FAIRFAX, VA. — Locally based Insight Property Group has begun construction of a 452-unit apartment community on the site of the Hunters Branch office complex in Fairfax, 20 miles west of Washington, D.C. The Hunters Branch site is home to two vacant office towers totaling 400,000 square feet. Insight acquired the site for $28.9 million in a real estate owned (REO) transaction in November 2024. In March of this year, Insight sold a portion of the Hunters Branch property to Toll Brothers for $17 million. Toll Brothers will develop 76 …

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1000-Ocean-Parkway-Brooklyn
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Broker $23.5M Sale of Brooklyn Property

by Lynn Peisner

NEW YORK CITY — Marcus & Millichap has arranged the sale of 1000 Ocean Parkway, a 122-unit apartment building in the Midwood neighborhood of Brooklyn. The property sold for $23.5 million, or $192,623 per unit. Marcus & Millichap’s Matt Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans. The property is located on the corner of Ocean Parkway and Avenue J. Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities and …

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ConnecticutFinanceNewsNortheast

Newmark Arranges $115.6M Refinancing for Two Southeastern Connecticut Assets

by Lynn Peisner

EAST LYME, CONN. — Newmark has arranged a $115.6 million Freddie Mac loan to refinance The Cove at Gateway Commons and Sound at Gateway, two communities less than half a mile apart in East Lyme along Connecticut’s southeastern shore. Newmark’s Avi Kozlowski led the transaction. Sound at Gateway Commons offers garden-style studio- to three-bedroom units, while The Cove at Gateway Commons consists of one-, two- and three-bedroom apartments and townhomes with attached garages.

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Convent-Ave-NYC
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Haussmann Secures $40.8M Loan, Breaks Ground on Manhattan Mixed-Income Development

by Lynn Peisner

NEW YORK CITY — Haussmann Development has obtained a construction loan for approximately $40.8 million and broken ground on an 84-unit building at 16-20 Convent Ave. in North Manhattan. Affinius Capital provided the construction loan in partnership with Axonic Capital. The building will include ground-floor community space that will serve as the third location of Little Legacy Village, the childcare practice that Haussmann co-founded. Completion of the ground-up Opportunity Zone project is slated for early 2028. The project will include an unspecified number of permanently affordable units. It is being …

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Newnan-Crossing-Newnan
DevelopmentGeorgiaNewsSoutheast

Wood Partners Breaks Ground on Alta Newnan Crossing in Metro Atlanta

by Lynn Peisner

NEWNAN, GA. — Wood Partners has broken ground on Alta Newnan Crossing in Newnan, 40 miles southwest of Atlanta. Alta Newnan Crossing features 274 apartment units in a mix of one-, two- and three-bedroom layouts as well as seven townhomes, each with three bedrooms, two bathrooms and a two-car garage. Amenities include a clubhouse, fitness room, package room, coworking space, a courtyard and resort-style pool. The site will also provide connectivity to the LINC Trail, Newnan’s multi-use path system. Completion is slated for fall 2027.

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The-Arbor-NYC
Investment SalesNew YorkNewsNortheast

PGIM Buys The Arbor in The Bronx for $73.5M

by Lynn Peisner

NEW YORK CITY — PGIM, the investment management business of Prudential Financial (NYSE: PRU), has acquired The Arbor, a 127-unit community in the Riverdale neighborhood of the Bronx for approximately $73.5 million. The transaction marks the 10th acquisition with the PGIM Real Estate Fund. PGIM partnered with Fetner Properties in the deal through a sale and leaseback with the seller, Columbia University. To date, PGIM has deployed $260 million through the fund, representing approximately $632 million in gross property value.

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Evolve-Crossing-Burlington
DevelopmentFinanceNewsNorth CarolinaSoutheast

Northmarq Arranges $38M for Construction of Evolve Crossing in Burlington, North Carolina

by Lynn Peisner

BURLINGTON, N.C. — Northmarq has arranged $38 million in construction financing for Evolve Crossing, a 210-unit community Evolve Cos. is developing in Burlington. Northmarq’s Chris Hammel arranged the loan through lender CrossHarbor Capital Partners. Evolve Crossing will be a garden-style community featuring one-, two- and three‑bedroom units with such amenities as a resort-style pool with lounge, outdoor kitchens, parking, coworking space, a gym with a yoga studio and a dog park with pet spa station. Completion is slated for 2028. Evolve Cos. is a Greensboro, North Carolina-based investment and development …

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Pointe-Grand-Interbay-Tampa
Affordable HousingDevelopmentFloridaNewsSoutheast

Hillpointe Obtains $67M in Financing, Breaks Ground on Tampa Affordable Housing Development

by Lynn Peisner

TAMPA, FLA. — Hillpointe has secured $67 million in construction financing and broken ground on Pointe Grand Interbay at Tampa, a 408-unit community in South Tampa. Built under the state’s Live Local Act, an affordable housing law that gives developers zoning, height and density incentives for projects that include workforce or affordable housing, the residences, all two-bedroom, two-bath floor plans, will be reserved for renters earning no more than 80 to 120 percent of area median income. Hillpointe Construction, the Winter Park, Florida-based firm’s in-house general contractor, is leading the …

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FinanceInvestment SalesNewsTexas

Sade Real Estate Secures $128.5M to Acquire The Arno in Houston

by Lynn Peisner

HOUSTON — Locally based Sade Real Estate has obtained $128.5 million in acquisition financing for The Arno, a 40-story, 168-unit luxury community at 2929 Weslayan St. in Houston’s River Oaks neighborhood. Hudson Bay Capital provided the financing, which was arranged by Walker & Dunlop’s Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly and Sean Bastian.

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