Author

Lynn Peisner

Dylan Point Loma Apartments MG
CaliforniaInvestment SalesNewsWestern

MG Properties Buys 180-Unit Property in San Diego’s Point Loma Neighborhood

by Lynn Peisner

SAN DIEGO — Locally based MG Properties has acquired Dylan Point Loma in San Diego from JLL Income Property Trust for an undisclosed sum. The seller was represented by Rachel Parsons and Derrek Ostrzyzek with CBRE. Fannie Mae acquisition financing for the transaction was arranged by CBRE’s Scott Peterson, Bill Childs and Brian Cruz. The 180-unit property opened in 2016 and consists of one-, two- and three-bedroom floor plans complemented by a resort-style saltwater pool, a fitness center, community club house, a conference room, game lounge, demonstration kitchen, dog park …

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Wayne-Wozniak
Company NewsIllinoisMidwestPeople News

Cullinan Properties Names New CFO

by Lynn Peisner

BURR RIDGE, ILL. — Cullinan Properties, a commercial and mixed-use developer, has promoted Wayne Wozniak to chief financial officer. Wozniak, whose former title was senior vice president of accounting, will oversee financial operations, including accounting, tax strategy, financial reporting, forecasting and capital planning while working closely with executive leadership to advance Cullinan’s strategic initiatives. Wozniak joined the company in June 2024.

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Renaissance-Center-Detroit
Affordable HousingDevelopmentFeaturesInvestment SalesMichiganMidwest

Metro Detroit: A Multifamily Comeback Story

by Lynn Peisner

Investments in major new construction and redevelopment projects from the central business district out to the suburbs signal investor opportunity. By Jason Stevens, Lument It has been 12 years since Detroit, having lost more than a quarter of its population between 2000 and 2013 and seen its tax revenues plummet, became the largest U.S. city to declare bankruptcy. The city endured decades of hardship, and many neighborhoods struggled with vacancy until recent revitalization efforts began to take hold. Today, Detroit’s turnaround is well underway. Government finances are on a firm …

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4965-Washington-Denver
Affordable HousingColoradoDevelopmentNewsWestern

Public-Private Venture Begins Construction of $132 Million Mixed-Use Affordable Housing Development in Denver

by Lynn Peisner

DENVER — Globeville Redevelopment Partners, a joint venture consisting of several public and private members, has started construction on 4965 Washington St., a five story, mixed-use affordable housing community in Denver’s Globeville neighborhood. The $132 million project involves the redevelopment of a 2.7-acre, city-owned site that was formerly a car dealership. The project will include 170 apartments reserved for households earning between 30 and 80 percent of area median income. Developed in partnership with the Denver Public Library and the city and county of Denver, the lower level of the …

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1900-Parmer-Austin
BerkadiaFinanceNewsTexas

Berkadia Arranges $47 Million Refinancing for 1900 Parmer in North Austin

by Lynn Peisner

AUSTIN, TEXAS — Berkadia has arranged a $47 million refinancing loan for Griffin Capital, the El Segundo, California-based owner of 1900 Parmer Apartments in Austin. MF1 Capital was the lender, and Berkadia’s team was led by Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Patrick Johnson. The property, located at 1900 E. Parmer Lane, was developed in 2024 and was 98 percent leased at the time of the loan closing. In addition to one- and two-bedroom units, 1900 Parmer features two pools with cabanas, a two-story fitness center with …

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Capitol-at-Stonebriar-Frisco
FinanceInvestment SalesNewsTexas

Newmark Arranges Sale of 424-Unit Asset in Frisco, Texas

by Lynn Peisner

FRISCO, TEXAS — Irvine, California-based The Bascom Group has sold Capitol at Stonebriar, a 424-unit community at 9600 Gaylord Parkway in Frisco that opened in 2018. JPI was the original developer. The buyer and sales price were not disclosed. The asset was 91 percent occupied at the time of the sale. Newmark Multifamily Capital Markets’ Brian Murphy, Brian O’Boyle Jr. and Richard Furr represented Bascom Group in the sales transaction, while David Schwarz arranged acquisition financing on behalf of the buyer.

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Monte-Vista-LaHabra
CaliforniaInvestment SalesNewsWestern

CBRE Arranges Sale of Two Orange County Properties for $12.3 Million

by Lynn Peisner

LA HABRA, CALIF. — CBRE has arranged the sale of two properties totaling 38 units in La Habra, an Orange County city about 27 miles southeast of Los Angeles. CBRE’s Dan Blackwell and Amanda Fielder arranged the transactions. Combined, the sales totaled approximately $12.3 million. The properties included The Bungalows on Monte Vista and Villa Monica. The Bungalows on Monte Vista, constructed in 1964, is located at 141–247 South Monte Vista St. The 18-unit asset sold for $6.4 million and traded at a 5.74 percent cap rate. The seller was …

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Alejandro-Ensinck
DevelopmentFloridaIndustry VoicesInvestment SalesOperationsSoutheast

South Florida Is Safe Harbor for Latin American Real Estate Investors

by Lynn Peisner

The recent arrest and extradition of Venezuelan leader Nicolás Maduro has once again put political instability in Latin America back in the headlines. For many people in the U.S., it’s just another international news story. For Latin American investors, it’s a reminder of something they’ve lived with for years: Political and economic conditions can change quickly, and when they do, the impact on currency, regulation and personal wealth can be immediate. That reality has long shaped how and where capital moves. When uncertainty rises, investors tend to look for places …

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Aurum-Fremont
BerkadiaCaliforniaDevelopmentFinanceNewsWestern

Berkadia Secures JV Partner for Bay Area Aurum Development

by Lynn Peisner

FREMONT, CALIF. — Berkadia has secured a joint venture equity partner for the final phase of development for Aurum, a 966-unit property adjacent to the Warm Springs BART station in Fremont. This final phase includes 336 units. Brett Betzler and Kaohu Berg-Hee of Berkadia’s Irvine and San Francisco offices brokered the deal. Aurum is located at 3300 Innovation Way and consists of a five-story, elevator-served building that features a structured parking garage, a fitness center, resort-style pool and approximately 4,900 square feet of ground-floor retail. Completion is expected in 2027.

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Avant-at-Fashion-Center-Chandler
ArizonaInvestment SalesNewsWestern

Stockdale Capital Partners Buys Avant at Fashion Center in Phoenix Metro for $110.3 Million

by Lynn Peisner

CHANDLER, ARIZ. — Stockdale Capital Partners has acquired Avant at Fashion Center in Chandler for approximately $110.3 million. The 355-unit mid-rise community was built in 2017 and features a mix of studio, one- and two-bedroom units housed in seven, three- and four-story buildings on an 11.4-acre site. Amenities include a pool with a deck and cabanas, covered social areas, stainless steel grills, a resident lounge and a two-story fitness center. IPA’s Steve Gebing and Cliff David marketed the property on behalf of the undisclosed seller. This is Stockdale’s second acquisition …

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