Author

Lynn Peisner

Tempo-at-White-Oak-Lobby
DevelopmentNewsTexas

Marquette Opens Tempo at White Oak in Houston

by Lynn Peisner

HOUSTON — Marquette Cos. has completed and opened Tempo at White Oak, a 304-unit community in the mixed-use White Oak District in Houston’s Woodland Heights neighborhood. Marquette is also the property manager for Tempo and the developer of the mixed-use project, a four-block-by-six-block area with residential, retail, restaurant and entertainment spaces. Tempo connects to the White Oak Music Hall and the new Woodlands Social bar and restaurant. Marquette has two first-floor retail spaces available for lease at Tempo and is also developing commercial space across Keene Street to add bars, …

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The-Maxwell
Investment SalesNewsTexas

CONAM Group Acquires Asset in Frisco’s Canals at Grand Park

by Lynn Peisner

FRISCO, TEXAS — The CONAM Group has acquired The Maxwell, a 325-unit community in Frisco. The seller and sales price were not disclosed, but StreetLights Residential in partnership with Tricon Capital Group developed the asset in 2018. The Maxwell was acquired through the buyer’s CONAM Strategic Investments Fund IV. CONAM is based in San Diego and acquires, develops, invests in and property-manages multifamily. The Maxwell is located within a master-planned community called the Canals at Grand Park. Units are offered as studios up to three-bedrooms with monthly rental fees ranging from …

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Highline-North
BerkadiaInvestment SalesNewsNorth CarolinaSoutheast

Berkadia Arranges $43.8 Million Sale of Highline North in Asheville

by Lynn Peisner

ASHEVILLE, N.C. — Berkadia has arranged the sale of and financing for Highline North, a 168-unit, garden-style property in Asheville. South Carolina-based Graycliff Capital acquired the asset from North Carolina-based Carlisle Residential Properties for approximately $43.8 million. Berkadia Senior Managing Director Caleb Troop, Director Thomas Colaiezzi and Associate Director Matt Robertson of Berkadia Charlotte led the sale on behalf of the seller. Directors Jeremy Lynch and Jake Adoni of Berkadia’s Philadelphia office secured acquisition financing through Freddie Mac on behalf of Graycliff. The deal closed on May 15. Located at …

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Link-at-Douglas-Phase-2
Affordable HousingDevelopmentFloridaNewsSoutheast

Developers Secure $125 Million Loan, Break Ground on Cadence in Miami

by Lynn Peisner

MIAMI — Locally based developer 13th Floor Investments, in partnership with Barings, a subsidiary of MassMutual, has secured a $125 million construction loan from a syndicate of Santander Bank and TD Bank to finance the development of Cadence in Miami. Now under construction, the 35-story tower will include 432 market-rate apartments. About 54 units will be set aside as workforce housing, but specific income restrictions were not disclosed. Developers estimate the project will be complete by February 2028. Cadence is the third residential building to be constructed within the mixed-use, …

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Sunridge
Build-to-RentCaliforniaDevelopmentNewsWestern

Tricon Residential Opens $60 Million Sacramento-Area BTR Project

by Lynn Peisner

RANCHO CORDOVA, CALIF. — Tricon Residential, a subsidiary of global investment firm Blackstone Real Estate, has completed and opened Tricon Sunridge, a built-to-rent (BTR) community in Rancho Cordova, 14 miles east of Sacramento, California. Blackstone Real Estate invested approximately $60 million to develop the community. Project partners included Sares Regis and Signature Homes. The 114-unit homes are offered as three- or four-bedroom floor plans and feature solar panels, fenced-in backyards and electric-vehicle charging outlets within two-car garages.

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Christopher-Cordes
Build-to-RentDevelopmentIndustry Voices

Investors, Take Note of Opportunities in BTR’s Potential to Meet ‘Missing Middle’ Demand

by Lynn Peisner

By Chris Cordes Build-to-rent (BTR) developments continue to set new records each year, with 90,000 units under construction in 2024, according to the National Association of Realtors. Maintaining momentum with 2023 levels, this growth rate represents a 50 percent increase in BTR housing starts since 2021 and relates directly to housing affordability challenges and the rising costs of homeownership. BTR offers renters, particularly aging Americans approaching retirement, housing options with homeownership-like benefits without the maintenance responsibilities and accompanying increasingly prohibitive costs. These benefits include more living space, privacy, yard access …

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Haven-on-Main
Affordable HousingDevelopmentFinanceMidwest

Cinnaire Raises $340 Million Fund for Affordable Housing Development in 11 States

by Lynn Peisner

LANSING, MICH. — Cinnaire, a nonprofit financial services company based in Lansing, has raised $340 million, which will finance 33 affordable housing developments in 11 states. Dubbed Fund 43, the LIHTC financing will back a total of 2,455 affordable housing units. Haven on Main in La Crosse, Wisconsin, will be one of the projects. It will be a 70-unit community including 59 affordable units and 11 market-rate units. Eighteen units will be reserved for individuals with intellectual and developmental disabilities, veterans and those experiencing chronic homelessness. Half of the total …

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Ekos-on-Evans_New-Playground
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners to Develop LIHTC Project in Fort Myers

by Lynn Peisner

FORT MYERS, FLA. — McDowell Housing Partners (MHP) has secured financing and acquired land for Ekos on Evans, an affordable housing development in Fort Myers. Under the directives of Florida’s 4 percent low-income housing tax credit program, residences will be reserved for tenants earning 30, 60 or 70 percent of area median income. The 144-unit property consists of five garden-style buildings with one-, two- and three-bedroom floor plans. Amenities will feature a clubhouse, computer room, fitness center, terrace, grills, pool, a playground and a dog park. Construction of Ekos at …

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Bradbury
DevelopmentFloridaNewsSoutheast

Mesa Capital Partners Breaks Ground in Northeast Tallahassee

by Lynn Peisner

BRADFORDVILLE, FLA. — Mesa Capital Partners has broken ground on The Bradbury at Bannerman Village 10 miles north of Tallahassee. Mesa Capital Partners’ project is situated on a 14-acre site at Bannerman and Bull Headley roads and will be part of the Bannerman Village master-planned community. This area has slowly been developing in recent years, aiming to be a walkable, bikeable community. The Shops at Bannerman Village, a Publix-anchored center, opened in 2023. The project is also near the Landon Hill for-sale home community. Leasing is scheduled to begin in …

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Telestar Court
Affordable HousingDevelopmentFinanceNewsNortheastWashington, D.C.

Advantage Capital Arranges Tax Credits For $51 Million D.C.-Area Affordable Housing Redevelopment

by Lynn Peisner

FALLS CHURCH, VA. — Advantage Capital has secured $15 million in state low-income housing tax credits for Telestar Court, Conifer Realty’s office-to-residential redevelopment in Falls Church. The total project cost for the affordable housing project is $51 million. Advantage Capital arranged the tax credits in connection with the Virginia Housing Opportunity Tax Credit program, a tool for expanding the supply of affordable housing across the commonwealth. The former medical office building will be converted to an 80-unit community serving residents earning between 30 and 80 percent of area median income. …

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