Author

Lynn Peisner

Avalon-Denver
Affordable HousingCompany NewsDevelopmentInvestment SalesNewsOperations

Vivmark Becomes Nation’s Largest Apartment REIT

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — AvalonBay Communities and Equity Residential have completed their merger, creating Vivmark Residential, a new real estate investment trust, which began trading on the New York Stock Exchange under the ticker symbol VMRK on Aug. 18. With a portfolio of approximately 184,000 owned apartments and 11,100 units under construction, Vivmark Residential is now the country’s largest multifamily owner, surpassing Greystar. As of the publication in January of NMHC’s Top 50 Owners, Greystar, ranked first for the third consecutive year,  owned 119,160 units. Vivmark has a market …

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Satori-Town-Center-Jacksonville
FloridaInvestment SalesNewsSoutheast

Mesa Capital Partners Acquires Satori Town Center in Jacksonville

by Lynn Peisner

JACKSONVILLE, FLA. — Mesa Capital Partners has acquired Satori Town Center in Jacksonville. The seller and sales price were not disclosed. The 289-unit community was built in 2021 by Davis Development. The four‑story, elevator‑served building features a two‑story fitness center, private workspaces, a clubhouse, resort-style pool and deck with grilling stations, a dog park, outdoor game area with hammocks and fire pits, a movie theater, and multiple outdoor gathering spaces. Acquisition financing was arranged by Walker & Dunlop. Pegasus Residential will oversee property management.

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1515-N-Fremont-Chicago
IllinoisInvestment SalesMidwestNews

Marcus & Millichap Arranges $20.4M Sale in Chicago’s Lincoln Park

by Lynn Peisner

CHICAGO — Thesis Investment Group has sold 1515 N. Fremont Street in Chicago’s Lincoln Park neighborhood to Beal Properties for $20.4 million. Marcus & Millichap’s Kyle Stengle represented the seller and procured the buyer. The 98-unit property, built in 2016, includes approximately 4,000 square feet of commercial space and features a lounge, barbecue and picnic areas, indoor bike storage, package lockers and controlled access.

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The-Lumberyard-Davis
Affordable HousingCaliforniaDevelopmentNewsSustainable/LEEDWestern

The Michaels Organization, JOIN and KUDA Break Ground on $88M Project in Davis, California

by Lynn Peisner

DAVIS, CALIF. — The Michaels Organization and has broken ground on an $88 million community called The Lumberyard in Davis. Development partners include Kyuden Urban Development America (KUDA) and Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN), a Tokyo-based firm specializing in overseas transportation and urban development projects. KUDA is the U.S. real estate development subsidiary of Japan-based Kyushu Electric Power Co. The Lumberyard takes its name from Hibbert’s Lumberyard and Hardware Store, which operated on the development site at the intersection of G and 5th streets …

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Lexington Riverview-Fair-Lawn
Investment SalesNew JerseyNewsNortheast

CBRE Arranges $14.9M Sale of Lexington Riverview in New Jersey

by Lynn Peisner

FAIR LAWN, N.J. — CBRE has brokered the sale of Lexington Riverview, a Class A community in Fair Lawn for $14.9 million. CBRE represented the seller while David Ferber with Matthews represented the buyer. Neither party’s name was disclosed. Completed in 2021, Lexington Riverview consists of 43 units. The property is situated along the Passaic River. Amenities include a fitness center, resident lounge and covered parking. The CBRE Institutional Properties team was led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, Eric Greenberg, while Charles Berger represented CBRE Investment …

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Rich-Trepanier-Gage
Industry VoicesOperations

How a Fire Recovery Plan Can Protect Residents and Revenue

by Lynn Peisner

Fires at multifamily properties are more common than people realize. The U.S. Fire Administration estimates that fire departments responded to an average of 106,700 multifamily residential building fires each year. When a fire occurs, property owners are suddenly faced with many urgent and overwhelming decisions. The hours immediately following are some of the most critical, yet it can be difficult to know where to begin. Every decision has a direct impact on the speed, cost and overall success of the recovery. Identifying vulnerabilities, establishing a recovery plan and building relationships …

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Kent-Austin
Investment SalesNewsTexas

HPI Breaks Ground on The Kent in Austin, Texas

by Lynn Peisner

AUSTIN, TEXAS — Locally based HPI Real Estate Services and Investments has broken ground on The Kent, a 396-unit development in North Austin. The general contractor is OHT Partners, the architect is Belshaw Mulholland Architects, and Ellie Aiello Interiors is the interior designer. Greystar will manage the property. Completion of the seven-story community is slated for mid-2029. HPI is investing approximately $20 million of its own capital in The Kent, alongside a group of private investors. The total project cost was not disclosed.

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1219-Yonkers
DevelopmentInvestment SalesNew YorkNewsNortheast

Stagg Group Buys Land for 266-Unit Mixed-Use Development in Yonkers, New York

by Lynn Peisner

YONKERS, N.Y.  — CBRE has arranged a land sale at 1219 Yonkers Ave. for a future multifamily development. A joint venture of Aubrey Capital and Empire General Contracting sold the parcel to Stagg Group for $9.5 million. The CBRE team of William V. Cuddy Jr. and Jacqueline Novotny marketed the site and represented Aubrey Capital in the negotiations. The property is already entitled for a 19-story, 412,866-square-foot mixed-use building comprised of 266 multifamily units, 1,600 square feet of retail space, approximately 16,000 square feet of amenity space and 278 parking …

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Seasons-at-Horsetooth-Crossing-Fort-Collins
ColoradoInvestment SalesNewsWestern

The Rainier Cos. Sells Property Near Colorado State University for $62.7M

by Lynn Peisner

FORT COLLINS, COLO. — JLL has arranged the $62.7 million sale of Seasons at Horsetooth Crossing in Fort Collins as well as a $38.8 million Freddie Mac acquisition loan for the buyer, which was a Hamilton Zanze-sponsored Delaware Statutory Trust. The seller was The Rainier Cos. Seasons at Horsetooth Crossing, located about three miles south of Colorado State University, is a 208-unit garden-style property consisting of 26 two-story buildings with one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, pool, business center, courtyard, grills and bike storage.

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Cascadia-at-Fairwood-Landing-Renton
Investment SalesNewsWashingtonWestern

Sack Capital Partners Sells Cascadia at Fairwood Landing for $47.5M

by Lynn Peisner

RENTON, WASH. — Sack Capital Partners has sold Cascadia at Fairwood Landing, a 195-unit community in the Fairwood neighborhood of Renton, to Bridge Partners for $47.5 million. Institutional Property Advisors (IPA) represented the seller and procured the buyer. Built in 1981 and renovated in 2025, Cascadia at Fairwood Landing is a two- and three-story garden-style property with 15 residential buildings, a seasonal outdoor pool, fitness center, and a new outdoor pagoda with barbecue stations and seating. The unit mix of one-, two- and four-bedroom apartments averages 795 square feet. Every …

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