Author

Lynn Peisner

Montecito-Houston
Investment SalesNewsTexas

Atlantic Pacific Buys Montecito in Houston

by Lynn Peisner

HOUSTON — Blue Atlantic Partners, an affiliate of Atlantic Pacific Cos., has acquired Montecito Apartments in Houston’s Uptown-Galleria neighborhood. The 299-unit property offers a mix of one-, two- and three-bedroom floor plans ranging from 669 to 2,091 square feet. The community’s amenities include a pool, fitness center, clubhouse and a multi-level parking garage. The new owner will manage the property and also is planning a multi-million-dollar renovation including interior upgrades with quartz countertops, amenity enhancements and exterior improvements. With this purchase, Atlantic Pacific’s Texas portfolio consists of 33 properties, totaling …

Continue Reading
0 FacebookTwitterLinkedinEmail
Glenbrooke-Sarasota
FloridaInvestment SalesNewsSoutheast

Franklin Street Arranges Sale of Glenbrooke in Sarasota, Florida

by Lynn Peisner

SARASOTA, FLA. — Trinity Property Group has acquired Glenbrooke Apartments in Sarasota for $10.8 million. The seller was an entity doing business as RGMD LLC. Franklin Street arranged the sale, representing the buyer in the transaction. The 40-unit property was built in 1994. Trinity is planning interior renovations for about half the property as well as upgrading amenities and curb-appeal details during its hold period. The property features a pool, gazebo and a clubhouse.

Continue Reading
0 FacebookTwitterLinkedinEmail
Keely-Downs
Affordable HousingFinanceIndustry Voices

How HUD Borrowers Can Bring Additional Financing to Their Capital Stack

by Lynn Peisner

The U.S. Department of Housing and Urban Development (HUD), has long provided a great option for multifamily borrowers: long-term, fixed-rate mortgage insurance programs such as the 221(d)(4) program for new construction and substantial rehabilitation and the 223(f) program for acquisition or refinancing of existing assets, both of which offer up to 40-year amortization, non-recourse debt and competitive interest rates. HUD loans have long been thought of as protecting borrowers from high-interest-rate risk and other volatility experienced in conventional real estate finance markets. Yet even with the stability of HUD-insured loans, …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Albright-Austin
FinanceNewsTexas

JLL Arranges ReFi Loan for Austin Development

by Lynn Peisner

AUSTIN, TEXAS — ParkProperty Capital has landed a floating-rate refinancing loan for an undisclosed amount for The Albright, a 261-unit community in Austin that was delivered in 2024. JLL arranged the financing through ACRE. The five-story property features 261 units offered as studios and one- to three-bedroom layouts. Amenities include a resort-style pool, a 24-hour fitness center, coworking spaces, a gaming area with pool table, a rooftop deck with views overlooking Austin, an outdoor entertainment area with a grill and a kitchen, a pet park, a bike and package room …

Continue Reading
0 FacebookTwitterLinkedinEmail
University-Village-Azusa
CaliforniaInvestment SalesNewsStudent HousingWestern

Legacy Partners, PGIM Buy SoCal Student Housing for $92 Million, Plan Market-Rate Conversion

by Lynn Peisner

AZUSA, CALIF. — Legacy Partners and PGIM have acquired University Village in Azusa, about 20 miles east of downtown Los Angeles, for $92 million. The 320-unit property sits directly across the street from Azusa Pacific University, which was the seller and had formerly been using the community as a residence hall for students. Mesa West Capital provided a $68.5 million loan to buy the property and finance the conversion of the asset from student housing into a traditional multifamily community, which will include a light value-add program. The new owners …

Continue Reading
0 FacebookTwitterLinkedinEmail
zoe-apartments-waco
DevelopmentFinanceNewsTexas

Concord Summit Arranges $34 Million Bridge Loan for Surge Investment Group

by Lynn Peisner

LACY LAKEVIEW, TEXAS — Concord Summit Capital has arranged a $34 million bridge loan on behalf of Surge Investment Group’s Zoe Apartments in Lacy Lakeview, six miles north of Waco, Texas. The loan is a precursor to a long-term HUD takeout loan once the property reaches stabilized occupancy. Situated on a 10.3-acre site along Interstate 35, Zoe Apartments features six three-story residential buildings with a unit mix offered as one- and two-bedroom floor plans. Amenities include a resort-style pool with a pool house, a clubhouse, grilling areas, two pickleball courts, …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Jax-San-Antonio
Investment SalesNewsTexas

Kairoi Residential Buys San Antonio’s The Jax

by Lynn Peisner

SAN ANTONIO — Locally based Kairoi Residential has acquired The Jax in Northwest San Antonio. JLL’s Robert Arzola, Robert Wooten and Ryan McBride represented the undisclosed seller. Built in 1997, The Jax is comprised of 322 units set on a 19-acre site at 12222 Vance Jackson Road. Floor plans are offered as one-, two- or three-bedrooms. Amenities include a pool, clubhouse, a 24-hour fitness center, a business center, dog park, playground and a package-receiving area.

Continue Reading
0 FacebookTwitterLinkedinEmail
Union-at-Rose-Park-Milwaukee
Affordable HousingDevelopmentMidwestNewsWisconsin

The Annex Group Breaks Ground on $25.8 Million Affordable Community in Milwaukee

by Lynn Peisner

MILWAUKEE — The Annex Group has begun construction of Union at Rose Park, an affordable housing development in the Harambee neighborhood of Milwaukee. The 75-unit community is The Annex Group’s first development in Wisconsin. A number of city, state and federal funding sources, including 4 percent low-income housing tax credits, contributed to the $25.8 million project cost. Leases will be available with a variety of income caps that range from 30 percent of area median income to market-rate rents. The Annex Group will give preference to veteran renters for nine …

Continue Reading
0 FacebookTwitterLinkedinEmail
Park-on-14th-Plano
Affordable HousingDevelopmentNewsTexas

Park on 14th, a $17.2 Million Affordable Housing Development, Opens in Plano

by Lynn Peisner

PLANO, TEXAS — Texas State Affordable Housing Corp. (TSAHC), DMA Cos. and other stakeholders have opened The Park on 14th, an affordable housing community in Plano with 62 apartments reserved for households earning no more than 80 percent of area median income. TSAHC owns the land and partnered with DMA to develop the community. The development costs were approximately $17.2 million, with the bulk of financing provided by a U.S. Department of Housing and Urban Development (HUD) loan and equity from TSAHC. Amenities at the Park on 14th include community …

Continue Reading
0 FacebookTwitterLinkedinEmail
Joy-Silver
Affordable HousingIndustry Voices

Affordable Housing Remains Key to Homelessness Prevention

by Lynn Peisner

As California faces soaring numbers of unhoused residents, building affordable housing must remain atop the state’s homelessness-prevention plan. More than 187,000 Californians experienced homelessness in 2024 — a stunning 24 percent of the entire nation’s homeless population. The state is at risk of adding even more families to this alarming figure. Among those at risk are working families, often holding one or two jobs, who are just one setback — such as a job loss, major illness, natural disaster, domestic violence incident or childcare crisis — away from housing instability. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts
©2025 France Publications, dba France Media Inc.