Author

Lynn Peisner

Lofts-at-40-Long-Columbus
Affordable HousingDevelopmentFinanceMidwestNewsOhio

Merchants Capital Provides $35.1 Million in Tax Credit Equity for Ohio Affordable Housing Adaptive Reuse Project

by Lynn Peisner

COLUMBUS, OHIO — Merchants Capital has secured $35.1 million in tax credit equity on behalf of Woda Cooper Cos. and IMPACT Community Action. The co-developers will use the equity to fund an adaptive reuse project in Columbus called Lofts at 40 Long. The city identified the project in its 2022 plan. Developers will convert a vacant YMCA building into 121 apartments reserved for families earning between 30 and 80 percent of area median income. Merchants Capital secured $18.5 million in 4 percent Low-Income Housing Tax Credit equity (LIHTC), $11.4 million …

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Fullerton-TDC
CaliforniaDevelopmentNewsWestern

Dinerstein Breaks Ground on Fullerton, California, Project

by Lynn Peisner

FULLERTON, CALIF. — The Dinerstein Cos. has begun construction of Atlas Fullerton, a 329-unit, five-story community in Fullerton, about 25 miles southeast of Los Angeles. Located at 229 East Orangethorpe Ave., Atlas Fullerton will include approximately 5,995 square feet of retail space and a 617-space parking garage. The amenity package will include a leasing center, a clubhouse, outdoor lounge, a pool and hot tub, a fitness center, coworking spaces, bike storage and repair, a coffee bar, dog park and a mail room. Completion is slated for 2027.

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Affordable HousingCaliforniaInvestment SalesNewsWestern

EAH Buys Two Affordable Communities Near Los Angeles

by Lynn Peisner

LANCASTER, CALIF. — EAH Housing has acquired two affordable housing properties in Lancaster, about 69 miles north of Los Angeles. The developments, Arbor Lofts and Sagebrush I & II, provide affordable rental housing for households earning between 30 and 60 of the area median income. Arbor Lofts, located on Lancaster Boulevard, is a 21-unit low-rise community built in 2009 with four-bedroom apartments. The property also features 3,800 square feet of commercial space. Sagebrush I & II, located on Milling Street and built in 2011, offers 61 three- and four-bedroom apartments …

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Ekos-Creekside-Naples
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on $63 Million Ekos Creekside in Naples

by Lynn Peisner

NAPLES, FLA. — McDowell Housing Partners (MHP) has broken ground on Ekos Creekside, a 160-unit affordable housing community in Naples reserved for families earning between 30 and 80 percent of area median income. The $63 million development is backed by a variety of financial partners and stakeholders. Collier County owns the land and has entered into a long-term ground lease agreement with MHP. Financing sources include tax-exempt bonds from the state, a construction loan from Fifth Third Bank and permanent financing via Barings. MHP raised equity for the development through …

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Harmony-at-Clear-Creek-Shawnee
Build-to-RentDevelopmentFinanceKansasMidwestNews

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

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Amelia-at-Farmers-Market-Dallas
Investment SalesNewsTexas

Stockdale Capital Partners Acquires Amelia at Farmer’s Market in Dallas

by Lynn Peisner

DALLAS — Stockdale Capital Partners, a Los Angeles-based investment firm, has acquired Amelia at Farmer’s Market, a 297-unit luxury property in downtown Dallas in an all-cash transaction. Built in 2019, the five-story property is in the Farmers Market neighborhood and was 94 percent leased at the time of sale. Amelia offers amenities such as an open-air sky lounge with views of downtown, a rooftop infinity-edge pool, a wine lounge, community library and a 24-hour fitness center. Greystar has been brought in as property manager. Details about seller and sales price …

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Symphony-Suwanee
FinanceGeorgiaNewsSoutheastTexas

JV Lands $125.5 Million ReFi for Georgia-Texas Portfolio

by Lynn Peisner

AUSTIN, TEXAS, AND ATLANTA — JLL has arranged a $125.5 million refinancing loan for a three-property portfolio consisting of assets in Austin and around the Atlanta metro area. Known as the MAG portfolio, the properties are owned by Myers Apartment Group and Torchlight Investors. The portfolio includes Citadel at Tech Ridge in Austin, Highlands at Sweetwater Creek in Duluth, Georgia, and Symphony at Suwanee Creek in Suwanee, Georgia. Built between 2019 and 2021, the properties are currently 91.7 percent occupied. The JLL Capital Markets team was led by Gerard Sansosti, …

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Summerlin-Fort-Myers
Affordable HousingDevelopmentFloridaNewsSoutheast

Curran Young Underway on Fort Myers Affordable Housing Redevelopment

by Lynn Peisner

FORT MYERS, FLA. — Curran Young Construction has begun work on 5300 Summerlin Apartments, an affordable housing redevelopment in Fort Myers. The 8.5-acre, 172-unit property will be converted into a 230-unit community across three buildings. Amenities will include a 4,396-square-foot clubhouse, community gardens, a dog park, covered pavilions and grilling areas. Procida is the developer. Completion is slated for 2027. Rent restrictions were not disclosed.

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615-River-Road-Edgewater
DevelopmentFinanceNew JerseyNewsNortheast

Maxal Group Secures First-Phase Financing for $1 Billion Riverfront Development in New Jersey

by Lynn Peisner

EDGEWATER, N.J. — S3 Capital has originated a $255 million construction loan for The Maxal Group’s 615 River Road, a multifamily project that will comprise the first phase of construction of a $1 billion redevelopment along the Hudson River in Edgewater. The 25-story community will include 381 units, ground-floor retail space and parking for approximately 500 vehicles. Amenities include a fitness center, indoor pool and hot tub, a sauna, golf simulator, sports court, workspaces and a stadium-style screening room. FXCollaborative is the architect, and CetraRuddy is the interior designer. Galaxy …

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Neil-Hanlon
ArizonaCompany NewsNevadaNewsPeople NewsWestern

Woodfield Development Hires Neil Hanlon to Lead Southwest Expansion

by Lynn Peisner

PHOENIX — Woodfield Development has appointed Neil Hanlon as vice president of development. He will lead the firm’s expansion into Arizona and Nevada, namely into the Phoenix and Las Vegas metro areas. In this role, Hanlon will be responsible for sourcing new business opportunities and overseeing all phases of the development process. Hanlon comes to Woodfield from Greystar, where he was director of development in Phoenix, leading multifamily development projects throughout the Southwest and Mountain West markets. Raleigh, North Carolina-based Woodfield was founded in 2005.

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