Author

Lynn Peisner

Bridgewater-Grand
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Sale of Bridgewater Grand in Lakeland

by Lynn Peisner

LAKELAND, FLA. — TrimCor has sold Bridgewater Grand, a 300-unit property in Lakeland, to Hamilton Point Investments for an undisclosed amount. Managing Director David Etchison, Senior Managing Directors Cole Whitaker and Jason Stanton and Director Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller. The property was 95 percent occupied on July 10, the date of the sale. Lakeland is located midway between Tampa and Orlando. Bridgewater Grand was developed in 2020 and is a three-story, garden-style community on 31 acres overlooking a …

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Alessia-Gardens
GeorgiaInvestment SalesNewsSoutheast

RSN, Monday Acquire Asset Near Lake Lanier, Georgia

by Lynn Peisner

OAKWOOD, GA. — Joint venture partners RSN Property Group and Monday Properties have acquired Audubon Crest, a 126-unit, garden-style community in Oakwood, 50 miles northeast of Atlanta. The new owners have rebranded the asset Alessia Gardens and are planning unit upgrades. The deal marks the partnership’s fourth acquisition in the past eight months. Amenities at the property include a pool, a dog park, green space and a car-washing station.

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7770-Pipers-Lane
Investment SalesNewsTexas

Platte Canyon Capital Buys Allure Apartments in San Antonio

by Lynn Peisner

SAN ANTONIO — Platte Canyon Capital (PCC), in partnership with an unnamed Los Angeles-based institutional real estate investment manager, has acquired Allure Apartments in an off-market transaction. The 268-unit community in San Antonio was developed in phases on 11.5 acres, with the first 116 units constructed in 1984 and another 152 delivered in 2017. The property is in the Westover Hills submarket and includes one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center, clubhouse, playground and grilling areas. PCC is planning a $4.7 million capital improvement program …

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365-Nicollet
Investment SalesMidwestMinnesotaNews

Waterton Buys Minneapolis High-Rise for $111.5 Million

by Lynn Peisner

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 370-unit, 30-story property in Minneapolis from joint venture owners Opus Development Co. and Corebridge Real Estate Investors. The sales price was $111.5 million, according to the Minneapolis/St. Paul Business Journal. Constructed, designed and developed by Opus in 2018, 365 Nicollet’s unit mix includes studios and one-, two- and three-bedroom apartments as well as 50 penthouse units with a higher-end appliance package and hardwood floors. Amenities at 365 Nicollet include a fitness center and yoga studio, a sauna, an outdoor pool with a …

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Brandi-Campbell-Wood
Affordable HousingArchitecture & DesignCaliforniaDevelopmentIndustry Voices

ADUs in Multifamily Development Are an Old Idea with New Potential

by Lynn Peisner

By Brandi Campbell Wood Forward-thinking multifamily developers are rediscovering a housing typology that predates modern zoning: accessory dwelling units (ADUs). What was once commonplace in early 20th-century developments — garden cottages, cluster housing and secondary units within larger properties — is experiencing a renaissance driven by new policy opportunities and compelling financial returns. Before World War II reshaped American neighborhoods, ADUs were woven into the fabric of residential development. Large houses routinely included smaller units, such as carriage houses, that provided income for property owners. And “cottage courts,” small detached …

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ArizonaBuild-to-RentDevelopmentNewsWestern

NexMetro Opens Its 22nd Phoenix BTR Project

by Lynn Peisner

PHOENIX — NexMetro has opened Avilla Vista Norte in Phoenix. The 191-unit build-to-rent community is NexMetro’s 22nd development in metro Phoenix, with four additional projects currently under construction in the area.  Avilla Vista Norte offers one-, two- and three-bedroom detached, single-level homes with private backyards and front porches. Amenities at the gated community include storage units, covered parking areas, an electric-vehicle charging station, a resort-style pool and spa, outdoor kitchen and lounge areas, a dog park and dog-washing station, walking paths and open spaces. The community does not place breed …

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Woodmont_Woodbrook
Leasing & MarketingNew JerseyNewsNortheast

Woodmont, CBD Open Leasing at WoodBrook at Randolph in New Jersey

by Lynn Peisner

RANDOLPH, N.J. — Woodmont Properties and Canoe Brook Development have launched leasing for WoodBrook at Randolph, a 199-unit community in Randolph, 40 miles west of Manhattan. The codevelopers broke ground in March 2024. WoodBrook at Randolph consists of a four-story, mid-rise building that houses 97 traditional units. The remaining residences are in townhome-style buildings. Amenities include coworking spaces, a resort-style pool, a game den with a sports simulator and a fitness center and yoga room.

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Magnolia-at-Powell
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Agador Spartacus Receives $26 Million Loan for Magnolia at Powell

by Lynn Peisner

WILDWOOD, FLA. — Agador Spartacus has secured a $26 million take-out bridge loan on existing construction debt used to build Magnolia at Powell in Wildwood. The Aventura, Florida-based developer completed the build-to-rent project in January. JLL Capital Markets arranged the financing with a team led by Managing Director Max La Cava, Senior Managing Director Melissa Quinn, Vice President Rob Rothaug and Analyst Jade Starkey. The funding provider of the loan was not disclosed. Magnolia at Powell is located adjacent to The Villages active adult community and features one-, two- and …

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ProspectLakeWire
Company NewsGeorgiaNewsPeople NewsSoutheastTexas

Hunt Cos. Acquires Controlling Interest in Carter

by Lynn Peisner

EL PASO, TEXAS, AND ATLANTA — Hunt Cos. Inc., an El Paso-based holding company with a focus on real estate, infrastructure and financial services, has acquired a majority stake in Carter, an Atlanta-based real estate investment and development firm. The companies have partnered on past development projects, including Prospect Lake Wire, a mixed-use development completed in 2024 in Lakeland, Florida, and The DeSOTA, an apartment community in Sarasota, Florida, completed in 2018. With this change, Bob Peterson, long-time chief executive officer and chairman of Carter, has announced his retirement. Following …

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The-Faywell-Wheaton
DevelopmentIllinoisMidwestNews

Banner Real Estate Secures $124 Million in Debt and Equity for Suburban Chicago Project

by Lynn Peisner

WHEATON, Ill. — Banner Real Estate Group has secured $124 million in debt and equity and broken ground on The Faywell in Wheaton, 30 miles west of Chicago. The 2.6-acre development site is an assemblage of 13 parcels and involved seven separate sellers. The deal took about five years to put together. The site is adjacent to the Metra Union Pacific West station with service to downtown Chicago. The seven-story development will feature 334 rental units averaging 956 square feet in a mix of studios, one- and two-bedroom floor plans …

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