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Lynn Peisner

Haven at Ann Arbor
Investment SalesMichiganMidwestNews

Marquette Cos., DRA Advisors Sell Haven at Ann Arbor

by Lynn Peisner

NAPERVILLE, Ill. —  Marquette Cos. and DRA Advisors have sold The Haven at Ann Arbor to Abacus Capital Group. The two parties jointly acquired the 520-unit property in 2017 when it was known as Village Green of Ann Arbor. The owners completed $13 million in renovations during their hold time. Upgrades included granite kitchen countertops, new cabinets and hardware, new lighting and plumbing fixtures. Marquette also renovated the property’s common-area amenities. The Haven at Ann Arbor was 95 percent occupied at the time of sale. The cost of the asset …

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7800 South Throop Street
IllinoisInvestment SalesMidwestNews

AT Holdings Buys Two 1920s-Era Apartment Buildings on Chicago’s South Side

by Lynn Peisner

CHICAGO — Badu Investments LLC has sold two properties on Chicago’s South Side to AT Holdings LLC, an out-of-state investor seeking to expand a Chicago value-add portfolio. The two properties, located at 7300 S. May St. and 7800 S. Throop St., include a mix of one- and two-bedroom units. They are located in Chicago’s Auburn Gresham and Englewood neighborhoods respectively. The 6,480-square-foot property at 7300 S. May St. was built in 1924, while the 8,400-square-foot property at 7800 S. Throop St. dates to 1929. Quentin Benedetto, Kyle Stengle and Jack …

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Christopher Cordes, PPR Capital Management
Build-to-RentDevelopmentIndustry Voices

Navigating Housing Affordability: Three Trends to Watch

by Lynn Peisner

The past few years have brought significant shifts in affordability in the United States. Whether it’s evident in rising grocery bills or adjustments to what qualifies as a necessity, these changes have rippled through the housing sector. According to data from the U.S. Census Bureau, by 2024, the cost-of-living ratio to overall expenses surpassed 31 percent — the highest since 2014. Historically, a housing burden ratio below 30 percent indicates a stable market. However, the increasing costs of housing — including rent, mortgages, taxes, utilities and insurance — are straining …

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Hollywood, Florida, beach
Affordable HousingDevelopmentFloridaIndustry VoicesSoutheast

Low Cost of Living, New Affordable Housing Legislation Lure Renters and Developers to Hollywood, Florida

by Lynn Peisner

The city of Hollywood, Florida, is transforming. Once best known for its pristine beaches and as the winter home to many French Canadians, the area is becoming a magnet for new arrivals from the Northeast, Texas and California seeking a better place to live and do business. Hollywood’s mayor and city commissioners are showing their support for multifamily development, which will result in half a dozen projects being completed in 2025. Why are people choosing Hollywood and not Fort Lauderdale or well-known Miami neighborhoods like Brickell and Wynwood? Because the …

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The NRP Group's Residences at Cedar Creek in Charlotte
Affordable HousingDevelopmentNewsNorth CarolinaSoutheast

The NRP Group Delivers Affordable Housing in Charlotte

by Lynn Peisner

Charlotte, N.C. — Cleveland-based The NRP Group has completed and opened Residences at Cedar Creek, a mixed-income community located about nine miles southwest of Charlotte. The 200-unit property mainly serves residents earning between 30 and 60 percent of area median income (AMI). A few units are reserved for renters earning up to 80 percent AMI. Bank of America and KeyBank provided financing for the project. The City of Charlotte also invested $2.5 million in Housing Trust Fund gap financing, and the North Carolina Housing Finance Agency provided $22 million in …

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Company NewsGeorgiaLeasing & MarketingNewsOperationsPeople NewsSoutheast

RKW Tapped to Manage Atlanta Property, Hires New Regional Manager

by Lynn Peisner

DULUTH, GA — Westplan has selected third party management firm RKW Residential to lease and manage Accent Suwanee Creek near Atlanta. The 253-unit property is made up of one-, two- and three-bedroom units. RKW also has hired Sean Shalpan, formerly a regional manager with Greystar, to support RKW’s growth throughout Georgia. RKW is headquartered in Charlotte with regional offices in Miami, Orlando, Florida, Atlanta and Raleigh, North Carolina. The company manages approximately 30,000 multifamily and build-to-rent units in eight states.

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Valor at the Realm apartments
Investment SalesNewsTexas

Bright Realty Sells DFW Luxury Property to Weidner Apartment Homes

by Lynn Peisner

LEWISVILLE, TEXAS — Bright Realty has sold Valor at The Realm in Lewisville to Weidner Apartment Homes for an undisclosed price. JLL arranged the sale. Bright Realty developed the 260-unit property in 2021. It includes approximately 35,000 square feet of retail. Residents have access to amenities such as a resort-style pool and yoga studio. Units are available with one or two bedrooms. Valor at the Realm is located within The Realm at Castle Hills, a 324-acre master-planned development in the Dallas-Fort Worth metroplex.

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FinanceIndustry Voices

Tax-Exempt Bonds Present Unique Opportunity to Secure Low-Cost Debt

by Lynn Peisner

Today, the inverted yield curve has created challenges for borrowers to secure debt. The curve describes the condition when long-term U.S. Treasury debt interest rates are less than short-term interest rates. This is particularly evident in the cost of capital for construction loans. Despite these challenges, sophisticated and experienced affordable housing debt providers are finding creative solutions to meet borrower needs. In particular, borrowers are taking advantage of the lower-cost option of tax-exempt bonds, primarily funded by institutional municipal capital providers instead of only looking to commercial banks. Balancing Taxable …

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Affordable housing property in Pennsylvania
Affordable HousingFinanceInvestment Sales

FHFA Announces 2024 Multifamily Loan Purchase Caps for GSEs

by Lynn Peisner

​​​​​​​​​​​Washington, D.C. — The Federal Housing Finance Agency (FHFA), the organization that regulates Fannie Mae and Freddie Mac, has set 2024 multifamily loan purchase caps for $70 billion for each enterprise for a combined total of $140 billion. FHFA will require that at least 50 percent of the enterprises’ multifamily businesses be mission-driven, affordable housing. Examples of “mission-driven” housing include loans on properties subsidized by the Low-Income Housing Tax Credit (LIHTC) program, loans on properties covered by a Section 8 Housing Assistance Payment contract where the contract limits tenant incomes …

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Industry Voices

Necessity Will Drive AI Adoption in Commercial Real Estate

by Lynn Peisner

— By Jack Swoboda and Ross Piermarini, co-founders, SymmetRE — We are living in a unique moment. A transition period. The advancements made in artificial intelligence (AI) in the past year have put a massive spotlight on the technology. Practical use cases that were once a dream are now becoming a reality. Before we dig deeper into the effects AI can have within commercial real estate, it is important to first define the types of technologies we are talking about. The term “artificial intelligence” gets thrown around pretty freely these …

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