Author

Lynn Peisner

Domain-Memorial-Houston
FinanceNewsTexas

Knightvest Capital Obtains $81M Refinancing for Houston Property

by Lynn Peisner

HOUSTON — Mesa West Capital has provided an $81 million loan to Knightvest Capital to refinance Domain Memorial, a 313-unit rental townhome community 17 miles west of Houston in the metro area’s Briar Forest/West Memorial submarket. During its ownership, Dallas-based Knightvest has renovated a majority of Domain Memorial’s units and has completed improvements to the parking lot, clubhouse, pool area, fitness center, lighting and landscaping and also has installed a new electric vehicle charging station. Knightvest will use a portion of the proceeds from the five-year, floating-rate loan to complete …

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Park-Towers-Richton-Park
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Buy Park Towers Apartments in Richton Park, Illinois, for $30.4M

by Lynn Peisner

RICHTON PARK, ILL. — Eastham Capital and Bender Cos. have acquired Park Towers Apartment Homes in Richton Park, 35 miles south of Chicago. This $30.4 million purchase marks Eastham’s third Chicagoland acquisition with Bender since the start of 2026. The co-investors also bought The Element in Mount Prospect and The Flats at Gladstone in Glendale Heights. The companies have, in total, acquired 13 properties through Fund VII. Park Towers, built in 1974, consists of 270 one- and two-bedroom units and such amenities as a fitness center, business center, on-site laundry …

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Olympus Property-Ascend-by-the-Sea
DelawareInvestment SalesNewsNortheast

Olympus Property Acquires Asset on Delaware Coast

by Lynn Peisner

MILLVILLE, DEL. — Olympus Property, a Fort Worth, Texas-based multifamily owner and operator, has acquired Ascend by the Sea in Millville. The 216-unit property opened in 2024. The seller’s identity was not disclosed, but the project was originally brought forward as Tupelo Sands, with town plan documents identifying DHI Communities as the developer. This sale marks Olympus’ first owned property in the mid-Atlantic region. According to the community website, the asset’s name has been changed to Olympus by the Sea. Amenities include a resort-style pool, fitness center, coffee bar, coworking …

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Momentum-at-First-Creek-Denver
ColoradoInvestment SalesNewsWestern

Momentum at First Creek in Denver Trades for $56M

by Lynn Peisner

DENVER — Momentum at First Creek in Denver was sold on March 31 by a Colorado-based developer to a private out-of-state investment firm for $56 million. The 200-unit property at 5500 Telluride St. is about 20 miles east of downtown Denver and approximately seven miles southwest of the Denver International Airport. It was developed in 2023. Craig Stack, Bill Morkes and Nate Moyer of the Stack Morkes Multifamily Investments division of Colliers represented the seller, while Colliers’ debt team arranged financing for the buyer. Amenities include a resort-style pool, an …

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Project-Greyhound-Richmond
DevelopmentFinanceNewsSoutheastVirginia

Walker & Dunlop Arranges $132M for Richmond Bus Terminal Redevelopment

by Lynn Peisner

RICHMOND, VA. — Walker & Dunlop has arranged $132 million in financing for a joint venture’s redevelopment of a former bus station in Richmond. AIP, Pointsfive and Bridge Investment Group will replace the Greyhound terminal at 2910 North Arthur Ashe Blvd. in Richmond’s Scott’s Addition neighborhood with a 550,000-square-foot property comprised of 396 apartment units and approximately 14,000 square feet of retail. The capital stack includes equity and an $85.6 million construction loan provided by Madison Realty Capital. The bus station and service depot was in operation from approximately 1984 …

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Parks-at-Hallandale-Florida
DevelopmentFloridaNewsOperationsSoutheast

Move-Ins Begin at 13th Floor’s Parks at Hallandale

by Lynn Peisner

HALLANDALE BEACH, FLA. — Miami-based developer 13th Floor Investments has completed the first two residential buildings in its Parks at Hallandale project in Hallandale Beach and obtained a temporary certificate of occupancy allowing the first residents to move into the property. The community offers a mix of studio through three-bedroom floor plans across what will be seven residential buildings on a 15.5-acre site. The remaining five buildings are expected to be complete by this summer. Unit size ranges from 600 to 1,400 square feet, while monthly asking rents begin at …

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The-Opal-West-Valley-City
FinanceNewsUtahWestern

JLL Arranges Refinancing for The Opal in Salt Lake City Metro

by Lynn Peisner

WEST VALLEY CITY, UTAH — JLL has arranged an undisclosed amount of debt on behalf of TPG Angelo Gordon and Timberline Parters to refinance The Opal in West Valley City. JLL’s team was led by Leon McBroom, Jack Hunsicker and Ellie Savage. The Opal, completed in 2024, is comprised of 262 units and amenities such as a fitness center, hot tub, pickleball courts, clubroom and a pool. The property is 10 miles southwest of downtown Salt Lake City.

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Alta-Roosevelt-St-Petersburg
Affordable HousingDevelopmentFloridaNewsSoutheast

Wood Partners Plans May Groundbreaking for St. Petersburg Mixed-Income Project

by Lynn Peisner

ST PETERSBURG, FLA. — Wood Partners will break ground in May on Alta Roosevelt, a 381-unit community on 11.6 acres along Roosevelt Boulevard in St. Petersburg. Under Florida’s Live Local Act, which allows developers to build on land not originally zoned for residential if affordable housing is included, 40 percent of the units will be reserved for renters earning 120 percent or less of area median income. Completion is slated for April 2028. An existing office building on the site will be demolished, while the office’s parking garage will be …

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Wendy-Dorchester-Pegasus-Residential
Industry VoicesOperations

Multifamily Industry Should Be Doing More to Court the Pet-Owning Renter

by Lynn Peisner

By Wendy Dorchester Pet-friendliness is one of the ultimate differentiators at rental communities, and the difference is obvious the moment you walk a truly pet-inclusive property. Residents bond over their pets, often knowing the names of each other’s dogs before they know the names of their neighbors. Communities that embrace this reality benefit from stronger renewal rates, more engaged residents and an environment that feels welcoming to a wider pool of renters. But while the industry has made significant progress over the past decade, the recent 2026 State of Pets …

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The-Marte-DC
Affordable HousingDevelopmentLeasing & MarketingNewsNortheastWashington, D.C.

Gilbane Begins Leasing $135M Second Phase of D.C. Affordable Housing Redevelopment

by Lynn Peisner

WASHINGTON, D.C. — Gilbane Development has begun leasing the second of its three-phase redevelopment at 7th Street and Barnaby Road in Southeast Washington, D.C. Phase II of Barnaby & 7th includes 229 units within four new residential buildings: The Stoneview, The Solomon, The Marte and The Lewis. Construction of these buildings is slated for completion by summer 2026. The four communities feature a mix of studio to three-bedroom units serving households earning 50 and 80 percent of the area median income (AMI). Twenty percent of the apartments will be set …

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