Author

Lynn Peisner

Veer
DevelopmentNewsTexas

Pfluger, SHIR Complete Austin Adaptive Reuse Project

by Lynn Peisner

AUSTIN, TEXAS — Pfluger Architects and developer SHIR Capital have completed construction on Veer Apartments in Austin, a 174-unit redevelopment of a former Quality Inn. Development partners include Austin Outdoor Design and Avas Construction. Originally a four-story building, the design added a fifth level. Each of the studio apartments offer vinyl hardwood flooring, a kitchen with stainless steel appliances and granite countertops and fully remodeled bathrooms with tiled showers and new vanities. The renovation added a fitness center and an outdoor pool to the property to complement the business center, …

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Adela-at-Mimo-Bay
FinanceFloridaNewsSoutheast

ACRE Lands $72 Million ReFi Loan for Miami Asset

by Lynn Peisner

MIAMI — ACRE has secured a $72 million refinancing loan for Adela at MiMo Bay, a 236-unit, waterfront community in Miami. JLL Capital Markets arranged the financing. Adela at MiMo Bay was developed in 2020 and features a range of studios and one-, two- and three-bedroom units with quartz countertops, stainless steel appliances and floor-to-ceiling windows. ACRE is planning to add 14 additional units and to upgrade amenity offerings. These renovations are expected to begin in September with completion slated for 2026. ACRE, a private equity firm that invests in …

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The-Commodore-National-City-CA
CaliforniaInvestment SalesNewsWestern

Gelt Venture Partners Buys Metro San Diego Asset for $40 Million

by Lynn Peisner

NATIONAL CITY, CALIF. — Gelt Venture Partners has acquired The Commodore, a 92-unit property in the San Diego suburb of National City, for $40 million. Built in 2024, The Commodore comprises six three-story buildings with a mix of floor plans that includes studios, one- and two-bedrooms with select units featuring two-story and loft-style layouts. At the time of sale, the property was 96 percent occupied. Units feature in-unit washers and dryers, quartz countertops, tile backsplashes, stainless steel appliances and private balconies. Amenities include a resort-style pool and a hot tub, …

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4909-W-Joshua-Rd-Chandler-AZ
ArizonaInvestment SalesNewsWestern

Colliers Arranges $109.5 Million Sale of Country Brook Apartments in Chandler, Arizona

by Lynn Peisner

CHANDLER, ARIZ. — Colliers has arranged the $109.5 million sale of Country Brook Apartments in the Phoenix suburb of Chandler. Cindy Cooke, Brad Cooke, Chris Roach and Matt Roach of Colliers handled the sales transaction for the undisclosed seller and undisclosed buyer. Luke Donahue and Patrick O’Donnell of Colliers Mortgage coordinated acquisition financing. Located at 4909 W. Joshua Blvd., Country Brook Apartments offers 396 units, averaging 963 square feet, spread over 32 one- and two-story buildings. Amenities include three resort-style pools, two hot tubs, an outdoor kitchen with outdoor TVs, …

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234-236-East-88th-Street
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Brokers $10.4 Million Sale of Upper East Side Property

by Lynn Peisner

NEW YORK — Marcus & Millichap has arranged the $10.4 million sale between two undisclosed parties of a 34-unit property on the Upper East Side of Manhattan. Joe Koicim and Logan Markley represented the seller and procured the buyer. Built in 1920, the five-story building is located at 234-236 E. 88th St. in the Yorkville neighborhood. The unit mix includes studios and one-bedroom apartments with vintage architectural details and modern upgrades.

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Waterline-Austin
DevelopmentNewsTexas

Lincoln Property Co., Kairoi Top Out 74-Story Waterline Mixed-Use Tower in Downtown Austin

by Lynn Peisner

AUSTIN, TEXAS — A partnership between Dallas-based Lincoln Property Co. and San Antonio-based Kairoi Residential has topped out Waterline, a 74-story mixed-use tower located at 98 Red River St. in downtown Austin. The property gets its name from the site’s location near the nexus of Waller Creek and Lady Bird Lake. According to the development team, at 1,025 feet, Waterline is now the tallest building in Texas, eclipsing JPMorgan Chase Tower in Houston, which had allegedly been the state’s tallest building since 1981. Construction of Waterline began in fall 2022 …

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Investment SalesNew YorkNewsNortheast

Capriotti Properties Acquires Historic Finger Lakes Portfolio

by Lynn Peisner

WATKINS GLEN AND MONTOUR FALLS, N.Y. — Capriotti Properties has acquired a three-property portfolio, including 32 apartments and five commercial spaces, in Watkins Glen and Montour Falls, two villages located three miles apart near the southern tip of Seneca Lake in Upstate New York. Nelson Development was the seller, and CBRE arranged the sale with a team led by Richard Gatto, Fahri Ozturk, Zach McHale and Matthew Loscalzo. The residential portfolio includes Montour House, The Flats on Broadway and Water Works Center, all situated within a six-minute drive of one …

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Landing-of-Clinton
Investment SalesIowaMidwestNews

Axiom Properties Buys Iowa Asset For $27.4 Million

by Lynn Peisner

CLINTON, IOWA — Axiom Properties has acquired The Landing of Clinton for $27.4 million. The 190-unit asset in Clinton, 147 miles west of Chicago, was sold by an undisclosed party that was represented by Northmarq’s Midwest Investment Sales team. Parker Stewart, Anthony Martinez, Alex Malzone and Dominic Martinez led the team. Built between 2016 and 2019, the Landing of Clinton consists of apartments and townhomes in a mix of one-, two- and three-bedroom floor plans. All units include a washer and dryer, stainless steel appliances, granite countertops, wood-look flooring and …

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ZMR Hanley Place
ArizonaFinanceFloridaGeorgiaNewsSoutheastWestern

ZMR Lands $230 Million Debt-Equity Refinancing

by Lynn Peisner

TAMPA, FLA. — ZMR Capital, a Tampa-based multifamily investment firm founded by Zamir Kazi, has secured $230 million to refinance a portfolio of 1,600 units across Florida, Georgia and Arizona. The financing includes equity from an institutional joint venture and a five-year, fixed-rate Fannie Mae loan. ZMR will complete gradual renovations to each property during its hold period. Henry Stimler and Ricky Warner of Newmark represented ZMR Capital in the transaction. The portfolio includes four properties in Tampa, one in Atlanta and one in Phoenix.

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Village-Green
FeaturesMidwestOperations

The Art of Alignment: How to Balance Stakeholder Interests in Multifamily Property Management

by Lynn Peisner

By Diane Batayeh, Village Green To be successful at multifamily property management involves equal parts of communication, alignment and trust. There are several stakeholder groups to consider when making decisions about how best to operate and set up an apartment community for long-term success. Between residents, employees and owners, there are differing and sometimes conflicting objectives and perspectives to consider. In today’s quickly evolving multifamily landscape, satisfying everyone can be challenging, and it requires a delicate balance to maintain all stakeholders’ satisfaction while also achieving their respective goals. With the …

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