Author

Lynn Peisner

Independence-Place-Prince-George
Investment SalesNewsSoutheastVirginia

Northmarq Arranges $39M Sale of 230-Unit Property in Prince George, Virginia

by Lynn Peisner

PRINCE GEORGE, VA. — Aspen Oak Capital Partners has acquired Independence Place Apartments in Prince George for $39 million. Northmarq’s Charlotte, North Carolina-based investment sales team led by Ron Corrao, Eric Liebich, Scott Fuller, Dane Lozier, Matthew Weinstein and Dominic Bologna represented the undisclosed seller. The property, built in 2011, is situated on approximately 14 acres and includes 11 three-story garden-style buildings and an additional building that houses the clubhouse and leasing office. Independence Place’s amenity package consists of a 24-hour fitness center, resort-style pool, game room, sand volleyball and …

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Arbor-House-Arlington-Heights
DevelopmentIllinoisMidwestOperations

Bradford Allen Begins Pre-Leasing at Arbor House, The First Phase of Arlington Gateway in Chicagoland

by Lynn Peisner

ARLINGTON HEIGHTS, ILL. — Locally based developer Bradford Allen has begun pre-leasing at Arbor House, a 301-unit community in Arlington Heights, 32 miles northwest of downtown Chicago. Cross Street is handling the leasing, while Lancaster Living is the property manager. Units are available as studios and one-, two- and three-bedroom layouts, with monthly asking rents starting at $1,895. Arbor House also features 26,000 square feet of ground-floor retail. The community will anchor Bradford Allen’s 18-acre mixed-use district known as Arlington Gateway. Arbor House marks Phase I of development, which will …

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Lantower-Sunrise-Kissimmee
Company NewsNewsOperationsSouth CarolinaSoutheast

Greystar Takes Over 7,895-Unit Portfolio

by Lynn Peisner

CHARLESTON, S.C. — Lantower Residential, a Dallas-based operator and subsidiary of H&R REIT, is exiting the property management business. Greystar will take over management of Lantower’s approximately 7,895 units. The phased transition began Feb. 17. Greystar will assume management responsibilities for 23 multifamily communities, including two properties under development. As part of the transition, many of Lantower’s onsite and property leadership teams will join Greystar. H&R REIT is based in Toronto with a U.S. and Canadian portfolio comprised of residential, industrial and office properties totaling approximately 21.2 million square feet.

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259-East-Broadway-New-York
Investment SalesNew YorkNewsNortheast

Lower East Side Mixed-Use Building Trades for $7.8M

by Lynn Peisner

NEW YORK CITY — R.A. Cohen has sold a 16-unit mixed-use building at 259 East Broadway in Manhattan’s Lower East Side for approximately $7.8 million. Marcus & Millichap’s Joe Koicim, Logan Markley and Matt Berger represented the seller and procured the buyer, an unnamed private out-of-state investor. The 12,076-square-foot building includes ground-floor retail leased to Ernesto’s, a Basque restaurant, through April 2028. The two-bedroom apartments are a mix of free-market and rent-stabilized units. The building was developed in 1900.

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Westpark-Philadelphia
Affordable HousingDevelopmentNewsNortheastPennsylvania

Public-Private Partners Begin $500M Philadelphia Public Housing Redevelopment

by Lynn Peisner

PHILADELPHIA — The Philadelphia Housing Authority (PHA) and partners LMXD and MSquared broke ground March 2 on the first phase of the Westpark Apartments redevelopment in West Philadelphia. The multi-phase project as a whole covers 12 acres and will consist of upgrading existing structures as well as building new apartments. The site is home to public-housing high-rises and was developed in the early 1960s. The project cost for Phase I, accounting for 327 new units, is approximately $205 million, according to the Philadelphia Tribune. WHYY reports the total project cost …

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Lineage-Dacula
DevelopmentGeorgiaNewsSoutheast

Thompson Thrift to Develop 300-Unit Lineage in Atlanta Suburb

by Lynn Peisner

DACULA, GA. — Thompson Thrift has unveiled plans for Lineage, a 300-unit community situated on 15 acres about 30 miles northeast of Atlanta. Lineage marks the Terre Haute, Indiana-based developer’s 100th multifamily project. Completion is slated for April 2028. PNC Bank is the construction lender. Amenities complementing the one-, two- and three-bedroom units include a dedicated event space available for private rental, a golf simulator, fitness center, resort-style heated pool, a pickleball court, coworking and conference spaces, a pet spa and dog park.

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Sutton-Flats-Sherman
Affordable HousingDevelopmentLeasing & MarketingNewsOperationsTexas

The NRP Group Opens 300-Unit Mixed-Income Property North of Dallas

by Lynn Peisner

SHERMAN, TEXAS — The NRP Group and Texahoma Housing Partners have opened and begun leasing Sutton Flats, a 300-unit mixed-income community in Sherman, 65 miles northeast of Dallas. Half of the units are reserved for households earning no more than 80 percent of area median income. Monthly asking rents across the community range from $1,132 to 1,540. Amenities include a fitness center, coworking spaces with conference rooms, a game room, clubhouse and lounge, resort-style pool and a dog park. Sutton Flats residents also may rent garage parking spaces. The NRP …

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Adam-Smolyar-American-Landmark-Apartments
Company NewsFloridaNewsPeople NewsSoutheast

American Landmark Apartments Hires Adam Smolyar as CTO

by Lynn Peisner

TAMPA, FLA. — Tampa-based owner-operator American Landmark Apartments has hired Adam Smolyar as chief technology officer. In his role, Smolyar will oversee core systems, data architecture, cybersecurity, data analytics and resident-facing platforms. He is responsible for ensuring the firm’s platforms are scalable and reliable and will partner with American Landmark’s executive leadership team to streamline technology solutions and financial systems. In Smolyar’s recent experience, he served as director of innovation initiatives and tech investments at UDR. Prior to that, he was chief marketing and technology officer at the Urban Land …

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Minto-Waxahachie
DevelopmentInvestment SalesNewsTexas

Minto Communities USA Buys 3,170 Acres in Dallas Metro for Master-Planned Project

by Lynn Peisner

WAXAHACHIE, TEXAS — Minto Communities USA has acquired 3,170 acres in Waxahachie, 30 miles south of Dallas, where the Florida-based developer will build 13,270 new homes. Construction is expected to begin later this year followed by a multi-year buildout. The community will feature two residential districts — an active adult neighborhood and a traditional multifamily community — supported by approximately 140 acres of mixed‑use development. Plans include 750 multifamily units and 1.2 million square feet of retail and commercial space. Minto is planning amenities such as a town center, 400 …

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Taylor-Jones
Industry VoicesOperationsTechnology

What Multifamily Owners Need to Know About Choosing the Right Internet Infrastructure

by Lynn Peisner

By Taylor Jones I have been building bulk internet networks for more than 20 years. One thing has become clear to me over time: Owners are being asked to make infrastructure decisions that are perceived as technical, expensive and challenging when it comes to price-comparing in the marketplace. It is easy to feel like the only “safe” choice is fiber-optic cable throughout the building. While fiber is excellent technology and belongs in many projects, it is not the only path to a strong, modern, future-ready property. What follows is the …

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