Author

Lynn Peisner

CGI+-Torrance-MF-Site
Affordable HousingCaliforniaDevelopmentInvestment SalesNewsWestern

CGI+ Sells Torrance Development Site to JPI for $40 Million

by Lynn Peisner

TORRANCE, CALIF. —  CGI+ Real Estate Strategies has sold a shovel-ready, 4.9-acre multifamily development site in Torrance to JPI for $40 million. CGI+, a Los Angeles-based multifamily investment firm, acquired the property adjacent to Harbor-UCLA Medical Center at S. Vermont Avenue near 220th Street in 2022. After receiving entitlements for a six-story, 525-unit residential building — with 34 units reserved for households earning less than 30 percent of area median income — CGI+ planned to begin construction in 2023. However, rising interest rates and increases in labor and construction costs …

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Sunlake-North
BerkadiaBuild-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Maymont Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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ReNew-Danbury
ConnecticutInvestment SalesNewsNortheast

Jones Street Investment Partners Buys ReNew Danbury

by Lynn Peisner

DANBURY, CONN. — FPA Multifamily has sold ReNew Danbury to Jones Street Investment Partners for an undisclosed sum. JLL represented FPA in the transaction. ReNew Danbury is a 192-unit property developed in 1971 in Danbury, known as Hat City for its hat-making history. It is about 70 miles northeast of New York City. The garden-style community features studios and one-, two- and three-bedroom units and amenities like a clubhouse with a theater, game room, coffee bar and fitness center as well as a pool, a playground and bike storage. JLL …

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Pointe-at-Carrollwood-Tampa
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $38.3 Million Refinancing for Beacon Realty Group

by Lynn Peisner

TAMPA, FLA. — Berkadia has arranged approximately $38.3 million in debt and equity for the refinancing of Pointe at Carrollwood owned by Miami-based Beacon Realty Group. Beacon bought the 224-unit Tampa asset in 2022 as a value-add acquisition and has since invested about $3.6 million in capital improvements. The firm will use the financing to retire existing acquisition debt. The property is currently 95 percent occupied. Berkadia arranged a $29.9 million, five-year fixed-rate Freddie Mac loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm, provided a …

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Tides_on_Commerce
ArizonaInvestment SalesNevadaNewsWestern

Kennedy Wilson Acquires Two Properties for $166 Million

by Lynn Peisner

BEVERLY HILLS, CALIF. — Kennedy Wilson, a Beverly Hills-based investment company, has acquired Tides on Commerce in North Las Vegas and Finisterra in Tempe, Arizona, for a combined total of $166 million. The figure includes $61 million in equity invested in the two separate transactions. The sellers were not identified. CBRE arranged the sale of Finisterra. Tides on Commerce is a 336-unit community, while Finisterra has 356 units. Both are low-density, garden-style properties. With these two acquisitions, Kennedy Wilson now has ownership interests in 40,000 units.

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1709-Surf-Ave-Coney-Island
Affordable HousingDevelopmentNew YorkNewsNortheast

BFC Partners Secures $250 Million for Third Phase of Coney Island Affordable Housing Project

by Lynn Peisner

BROOKLYN, N.Y. — BFC Partners has closed on a $250 million construction loan to build the third and final phase of a three-building affordable-housing project along Surf Avenue in Coney Island. Loan specifics were not disclosed. The total project cost is approximately $700 million. This final phase, known as 1709 Surf Avenue, will include 420 new affordable units, bringing the total across all phases to 1,242 affordable homes. Project partners include the New York City Department of Housing Preservation and Development (HPD), the New York City Housing Development Corp. (HDC) …

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2000-Biscayne-Miami
FinanceFloridaNewsSoutheast

Kushner, PTM Secure $87.3 Million Refinancing Loan for Miami Asset

by Lynn Peisner

MIAMI — Walker & Dunlop has arranged an $87.3 million loan on behalf of Kushner Companies and PTM Partners to retire construction-phase debt on 2000 Biscayne in Miami. The property, located on Biscayne Boulevard, is a 36-story residential tower featuring 420 apartments. The joint venture development team completed construction in October 2024. The W&D New York Capital Markets team led by Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Jordan Casella, Christopher de Raet and Stanley Cayre were advisors to the borrowers. Corebridge Financial provided the capital for …

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Aerwave_BBCSummit
Company NewsNewsOperationsTexas

Aerwave Named 2025 Multifamily Partner of the Year

by Lynn Peisner

HOUSTON —Broadband Communities has awarded Aerwave the distinction of multifamily partner of the year. The publishing and conference company recognized Aerwave at the Broadband Communities Summit held June 23 to June 27 in Houston. Entrants were evaluated by an expert panel of judges. Aerwave stood out for its fiber-based mesh networking, proprietary software and gigabit-plus internet that spans entire properties. According to the company, Aerwave’s platform supports smart home technology, simplifies self-guided tours, enhances Wi-Fi calling coverage and enhances resident experience and simplifies operations for property managers and owners.

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Belmond
Investment SalesNewsTexas

Knightvest Capital Sells Belmond in Haltom City, Texas

by Lynn Peisner

HALTOM CITY, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Belmond, a 312-unit community in Haltom City five miles northeast of Fort Woth, Texas. Joey Tumminello, IPA senior managing director, along with IPA’s Taylor Hill, Drew Kile, Michael Ware and William Hubbard represented the seller, Knightvest Capital, and procured the buyer, TwinkleStar Asset LLC. Built in 2001 on 17 acres, Belmond is a three-story, garden-style asset with controlled-access gates, a resort-style pool, community grilling stations, covered parking and detached garages. Upgraded units have built-in desks, oversized oval …

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The-Indigo-Apartments-Clearwater
Affordable HousingBerkadiaDevelopmentFloridaNewsSoutheast

Sunrise Affordable Housing Locks in Financing to Convert Clearwater Market-Rate Property

by Lynn Peisner

CLEARWATER, FLA. — Sunrise Affordable Housing Group has arranged financing to convert The Indigo Apartments in Clearwater from a market-rate to an affordable community. Part of the financing includes a $20.3 million HUD loan arranged by Berkadia. Other sources of financing include federal Low-Income Housing Tax Credit (LIHTC) equity from R4 Capital, two loans from the City of Clearwater and land trust equity from Pinellas County. Following a renovation, the 208-unit tower will be converted from market-rate housing into affordable housing for families earning between 30 and 80 percent of …

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