Author

Lynn Peisner

ECCO-Elizabeth
DevelopmentNew JerseyNewsNortheast

LeCesse Development and MAS Development Group Launch $83.4M Phase II of Elizabeth, New Jersey, Project

by Lynn Peisner

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group have begun construction of ECCO in Elizabeth. The project marks the second phase of Vintage City, which is a developer-branded live-work-play district anchored thus far by two multifamily properties from LeCesse and MAS. JLL arranged approximately $83.4 million in financing for the project in the form of a $63.2 million construction loan from Bank OZK and a $20.2 million mezzanine placement from PGIM. Phase I, known as Vinty, is a 267-unit property that was completed in 2022. ECCO, located at …

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Elle-DC
FinanceNewsNortheastWashington, D.C.

Newmark Arranges $64M Refinancing of D.C. Adaptive Reuse Project

by Lynn Peisner

WASHINGTON, D.C. — Newmark has arranged a $64 million refinancing loan for Elle, a newly developed office-to-residential conversion project in Washington, D.C. The 11-story multifamily community, which formerly served as the Peace Corps headquarters, opened in 2024 and was developed by Willco. The building is located in the Golden Triangle Business Improvement District (BID), a 44-square-block area that stretches from Dupont Circle to Pennsylvania Avenue. The Golden Triangle BID is a nonprofit that encourages economic development through capital improvement projects. Elle is comprised of 163 units, 8,000 square feet of …

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ColoradoInvestment SalesNewsWestern

Thompson Thrift Sells Notch66 in Longmont, Colorado

by Lynn Peisner

LONGMONT, COLO. — Thompson Thrift has sold Notch66, a 336-unit property in Longmont, approximately 20 miles northeast of Boulder, Colorado. Arizona-based The Wolff Co. acquired the asset for an undisclosed cost. Thompson Thrift developed the property, launching construction in 2022 and completing it in June 2024. At the time of the sale, Notch66 was 93 percent occupied. Indiana-based Thompson Thrift has developed 22 properties in Colorado, including three in Longmont. Notch66 features one-, two- and three-bedroom apartments with private yards and detached garages in select units. Amenities include a clubhouse, …

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633-S-Laflin-Chicago
IllinoisInvestment SalesMidwestNews

Greenstone Partners Arranges $3M Chicago Sale

by Lynn Peisner

CHICAGO — Greenstone Partners has arranged the sale of 633 S. Laflin St., a 16-unit community in Chicago’s Little Italy/University Village area. The asset traded between two undisclosed parties for approximately $3.1 million. The three-story building features a mix of one- and two-bedroom apartments. The property includes surface parking. Greenstone Partners’ Tom Galvin and Brewster Hague represented the seller, a private local owner, and procured the purchaser, a private partnership based in Illinois.

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BNE-Portfolio-NJ
FinanceNew JerseyNewsNortheast

JLL Capital Markets Arranges $296M Loan for New Jersey Portfolio

by Lynn Peisner

MORRISTOWN, N.J. — JLL Capital Markets has arranged a $296 million Freddie Mac Loan for an undisclosed borrower to refinance a 13-property, 1,880-unit portfolio across New Jersey. The garden style assets feature market-rate units at properties located in five New Jersey counties: Middlesex, Somerset, Union, Monmouth and Morris. The properties were developed between 1959 to 1999. JLL Capital Market’s debt advisory team representing the borrower was led by Michael Klein, Thomas Didio Jr., Michael Mataras and Joseph Gruber.

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19-Rockwell-Brooklyn
DevelopmentFinanceNew YorkNewsNortheast

Affinius Capital Originates $90 Million Loan for Luxury Brooklyn Property

by Lynn Peisner

NEW YORK CITY — Locally based developer Mordechai Pillar, owner of One Nine Rockwell in Brooklyn’s Fort Greene neighborhood, has obtained a $90 million refinancing loan. Affinius Capital was the lender. David Bollag of Meridian Capital Group arranged the financing. The proceeds of the loan will be used to complete lease-up and stabilization at One Nine Rockwell, a 27-story, 174-unit property with 1,200 square feet of ground-floor retail. The luxury building is comprised of 35 studios, 103 one-bedrooms and 36 two-bedrooms. The sky lounge on the 27th floor offers a …

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La-Roca-Plaza-Santee
CaliforniaInvestment SalesNewsWestern

CBRE Arranges $26.5M Sale in Metro San Diego

by Lynn Peisner

SANTEE, CALIF. — CBRE has arranged the $26.5 million sale of La Roca Plaza, a 100-unit property located at 10032 North Magnolia Ave. in Santee, about 20 miles northeast of San Diego. CBRE’s Conor Brennan and Rachel Parsons represented both the buyer and seller in the transaction. The parties were doing business as Casa La Roca Apartments LLC and La Roca Plaza LP. Situated on 4.6 acres, La Roca Plaza offers a mix of one-, two- and three‑bedroom floor plans. Amenities include a pool, playground, central courtyard, on-site laundry, high-speed …

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Rise-120-Georgetown
Investment SalesNewsTexas

Machine Investment Group Buys Rise 120 in Georgetown, Texas

by Lynn Peisner

GEORGETOWN, TEXAS — Machine Investment Group (MIG), a New York City-based investment firm, has acquired Rise 120, a 227-unit community in Georgetown, 26 miles north of Austin, Texas. The property, which opened in 2024, also includes 15,000 square feet of retail. MIG partnered with San Diego-based Alta Real Estate Partners on the deal. Walker & Dunlop represented the undisclosed seller. MIG plans to add amenities, such as a golf simulator, sauna and cold plunge. Existing amenities include a pool, fitness center, resident lounge, a grill area and a dog park.

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Panther-Riverside-Park-Atlanta
GeorgiaInvestment SalesNewsSoutheast

Marcus Partners, ECI Buy Panther Riverside Parc in Atlanta

by Lynn Peisner

ATLANTA — Marcus Partners and ECI Group have partnered to acquire Panther Riverside Parc, a 280-unit community in the Sandtown submarket of Atlanta, which is approximately 14 miles west of downtown. The deal was sourced directly from the seller, Panther Residential. The sales price was undisclosed. Panther Riverside Parc was developed in 2010. Boston-based Marcus Partners and Atlanta-based ECI are planning upgrades during the hold. ECI will manage the community, which features a clubhouse, pool with cabanas, a fitness center, a playground and more. According to the property website, monthly …

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Vista-View-Charleston
Affordable HousingInvestment SalesNewsSoutheastWest Virginia

MMG Property Advisors Arranges Charleston, West Virginia, Affordable Housing Trade

by Lynn Peisner

CHARLESTON, W.V.A. — MMG Real Estate Advisors has arranged the sale of Vista View, a 333-unit affordable housing community located at 1300 Renaissance Circle in Charleston. The transaction was handled by MMG’s Kyle Shoemaker and Bill Brading. Vista View is a Housing Assistance Payment (HAP) and Low-Income Housing Tax Credit (LIHTC) property that was sold by Ten South Management. MMG arranged a capital structure that allows the undisclosed buyer to acquire and renovate the property via financing arranged through KeyBank.

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