Author

Lynn Peisner

Agora
FinanceNewsNortheastWashington, D.C.

Walker & Dunlop Arranges $106.3 Million Refinancing for WC Smith

by Lynn Peisner

WASHINGTON, D.C. — Walker & Dunlop has arranged a $106.3 million Fannie Mae loan for WC Smith to refinance construction debt on Agora, a 334-unit property developed in 2018 in Washington, D.C.’s Capital Riverfront area. Walker & Dunlop’s team was led by Brendan Coleman and Connor Locke. WC Smith developed Agora as the second phase of The Collective, which is home to two other multifamily properties: Park Chelsea with 429 units and The Garrett with 373 apartments and 5,000 square feet of coworking space. Amenities for the three communities include …

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Oxlley-Apartments
DevelopmentNewsOklahoma

Milhaus, Humphreys Capital Open Oxlley near Oklahoma City

by Lynn Peisner

EDMOND, OKLA. — Milhaus and Humphreys Capital have completed and opened Oxlley in Edmond 15 miles north of Oklahoma City. Located at 101 West Main St. in the historic downtown area, Oxlley features 276 units offered as studios or in one-, two- or three-bedroom floor plans. Amenities include a 24-hour fitness center, electric vehicle charging stations, conference rooms for remote workers, a dog park and a pet spa. The community does not have breed or weight restrictions on pets.

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InterFace-Carolinas-Multifamily_Operators
Conference CoverageFeaturesLeasing & MarketingOperationsSoutheast

InterFace Conference Coverage: Multifamily Operators Are Utilizing Fee Transparency, Concessions to Woo Renters

by Lynn Peisner

CHARLOTTE, N.C. — The federal government has been cracking down on price gouging in recent months. In May, the Federal Trade Commission (FTC) implemented a rule to ban “junk fees” from live event platforms like Ticketmaster, as well as hotels and other short-term lodging. This rule precludes the vendor or property owner/management firm from being able to charge hidden fees on the back end by requiring them to put the total cost upfront, inclusive of all mandatory fees and charges. And in January, the U.S. Justice Department (DOJ), along with …

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Carmichael-Commons
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Woda Cooper, Parallel Housing Deliver First Phase of $36.7 Million Affordable Housing Project in Madison, Georgia

by Lynn Peisner

MADISON, GA. — Woda Cooper Cos. and Parallel Housing opened Carmichael Commons in Madison on June 18. The $18.2 million, 60-unit townhome community is comprised of eight one-bedroom, 32 two-bedroom and 20 three-bedroom townhomes. Units are reserved for residents with household incomes up to 50 and 60 percent of area median income (AMI). Six units are offered at market rates without income restrictions. The developers also are underway constructing Prior Farms, an $18.5 million, 40-unit build-to-rent community on adjoining land. The two-phase project will include a new park developed by …

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Sugarmont-Apts
Investment SalesNewsUtahWestern

Centerspace Completes first Utah Acquisition with $149 Million Salt Lake Asset

by Lynn Peisner

SALT LAKE CITY — Publicly traded REIT Centerspace has acquired Sugarmont Apartments in Salt Lake City for $149 million. This marks Centerspace’s first owned asset in Utah. Northmarq’s Salt Lake City multifamily investment sales team, led by Mark Jensen, Rawley Nielsen and Darren Nielsen, arranged the sale and represented Centerspace. The seller was Cottonwood Communities, a publicly registered, non-listed REIT headquartered in Salt Lake City. Cottonwood was retained by Centerspace to manage the property. Built in 2021, Sugarmont Apartments features 341 units in a mix of studios, one-, two- and …

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Camden-Midtown
Investment SalesNewsTexas

Camden Property Trust Sells Midtown Houston Asset

by Lynn Peisner

HOUSTON — Camden Property Trust, a publicly traded REIT, sold Camden Midtown to Bow River Capital for an undisclosed amount. JLL Capital Markets arranged the sale and financing of the 337-unit, three-story community in Houston. Camden Midtown was built in 1999 and features pools, 24-hour fitness centers, a pet park and a direct-access parking garage. Units include granite countertops, stainless steel appliances and wood-style flooring. Some feature private patios with attached garages in select townhome units. JLL Capital Market’s investment sales and advisory team was led by Dustin Selzer, Jett …

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Inspire-Prairie-Springs
DevelopmentMidwestNewsWisconsin

Bond Cos. Breaks Ground on Garden-Style Community Near Kenosha, Wisconsin

by Lynn Peisner

PLEASANT PRAIRIE, WIS. — Bond Cos. has broken ground on Inspire Prairie Springs in Pleasant Prairie, seven miles west of Kenosha, Wisconsin. The first phase of the project will be complete in 2027 and will include 332 units across three residential buildings and an amenity clubhouse. RINKA is the architect, and Stevens Construction Corp. is the general contractor. The three-story, garden-style buildings will feature a mix of studio, one-, two- and three-bedroom layouts ranging from 500 to 1,405 square feet. In each elevator-served building, residents will have access to a …

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Bakersfield-Apartments
CaliforniaDevelopmentFinanceNewsWestern

BWE Arranges $61 Million Construction Loan for Presidio Capital Partners’ Bakersfield Project

by Lynn Peisner

BAKERSFIELD, CALIF. — BWE has arranged $61 million for Presidio Capital Partners to develop the first phase of Park Center at Seven Oaks in Bakersfield. Tom Turnage, senior vice president, and Alex Gregoire, vice president, both in BWE’s Irvine office, originated the four-year, floating-rate, interest-only construction loan with a 12-month extension from a super-regional bank. Park Center at Seven Oaks will include a total of 520 units when fully complete. Phase I will include 352 units. This initial phase will feature 17 residential buildings as well as a leasing office, …

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Core-Arvada
Build-to-RentColoradoDevelopmentLeasing & MarketingNewsWestern

Core Opens Leasing at Denver-Area Asset

by Lynn Peisner

ARVADA, COLO. — Core Spaces is now leasing at Oxenfree Clear Creek, the Chicago-based developer’s build-to-rent asset in Arvada, 11 miles west of Denver. The project includes 116 multi-level townhomes in three- or four-bedroom floor plans. According to Apartments.com, monthly asking rents range from $4,190 to $4,715. Oxenfree Clear Creek features an amenity “fieldhouse,” which includes a fitness center and sauna, sport court and coworking spaces and an additional 22,700 square feet of outdoor amenities including grilling stations, dining and entertainment areas, a playground and greenspace.

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CBRE_Yorktown
CaliforniaInvestment SalesNewsWestern

CBRE Arranges Huntington Beach Sale

by Lynn Peisner

HUNTINGTON BEACH, CALIF. — CBRE has arranged the $7.4 million sale of the 18-unit Yorktown Apartments in Huntington Beach. CBRE’s Dan Blackwell and Mike O’Neill represented the Newport Beach-based private seller, who was in a 1031 exchange, and the all-cash private buyer, also from Newport Beach. According to CBRE, Yorktown hasn’t traded hands for 30 years. The property comprises one studio and 17 two-bedroom units across two buildings constructed in 1973 and 1974. The 0.7-acre site includes a community courtyard, picnic area and private patios or balconies in select units, …

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