Author

Lynn Peisner

Max-Grossman
Affordable HousingFinanceIllinoisIndustry VoicesInvestment SalesMidwestMinnesota

How Affordable Housing Investors Can Benefit From Property Tax Programs

by Lynn Peisner

By Max Grossman Many cities across the U.S. are grappling with two persistent challenges: a lack of affordable housing and high property taxes. While these issues may seem separate, some policymakers have implemented programs that can address both at the same time. Chicago’s affordable housing supply is short by approximately 120,000 homes and 240,000 rental units, according to the Illinois Policy Institute. Additionally, nearly one-third of Illinois residents commit more than 30 percent of their income toward housing, the most of any state in the Midwest. The city is also …

Continue Reading
1 FacebookTwitterLinkedinEmail
Royal-Crest-Marlborough
FloridaInvestment SalesMassachusettsNew HampshireNewsNortheastRhode IslandSoutheast

Aimco Sells Two Portfolios for $1.26 Billion

by Lynn Peisner

DENVER — An affiliate of Norfolk, Virginia-based Harbor Group International (HGI) is under contract for the $740 million acquisition of a portfolio of five communities from Apartment Investment and Management Company (Aimco). The Denver-based, publicly traded REIT’s (NYSE: AIV) stock price closed at $7.91 on Aug. 11, down from $8.11 on Aug. 9, 2024. HGI has completed due diligence and paid a non-refundable $20 million deposit. The deal for the first four properties is expected to close in the third quarter, with the closing of the final asset occurring in …

Continue Reading
0 FacebookTwitterLinkedinEmail
Tricon-Simpsonville
Build-to-RentDevelopmentNewsSouth CarolinaSoutheast

Tricon Breaks Ground on South Carolina BTR Project

by Lynn Peisner

SIMPSONVILLE, S.C. — Tricon Residential has broken ground on Tricon Simpsonville, a 93-unit, build-to-rent community in Simpsonville, 12 miles south of Greenville, South Carolina. The property will consist of three-bedroom townhomes with two-car garages, fenced front yards, quartz countertops and wood-style flooring. Each unit will feature smart-home technology such as automatic thermostat control, keyless entry and leak-detection sensors. Amenities include a pool, firepit, pond, playground, dog park, amphitheater, and pickleball and tennis courts. Residents also will have access to a resource called Tricon Vantage, which includes a credit-building program, down …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Venue-at-Orange
CaliforniaInvestment SalesNewsWestern

Sentinel Real Estate Buys Inland Empire Community for $148.4 Million

by Lynn Peisner

REDLANDS, CALIF. — Institutional Property Advisors (IPA) has arranged the $148.4 million sale of The Venue at Orange, a newly built, 328-unit property in Redlands, 62 miles east of Los Angeles. The sales price equates to $452,439 per unit. The seller, California-based LuxView Properties, developed The Venue at Orange in 2023. The buyer was New York-based Sentinel Real Estate Corp. IPA’s Chris Zorbas, Kevin Green, Joseph Grabiec, Kyle Pinkalla, Alexander Garcia Jr. and Gregory Harris represented the seller and procured the buyer. The community comprises seven three-story buildings with gated …

Continue Reading
0 FacebookTwitterLinkedinEmail
The-Conley-Austin-Texas
BerkadiaFinanceNewsTexas

Joint Venture Owners Refinance Austin Asset

by Lynn Peisner

LEANDER, TEXAS — Beacon Real Estate Group and Constellation Group, both based in Miami, have secured an undisclosed amount of debt and equity to refinance The Conley, a 259-unit community in Leander, 25 miles north of Austin, Texas. Berkadia arranged the financing, which consisted of a loan with a three-year term and two 12-month extension options provided by Lasalle. A Los Angeles-based preferred equity partner also contributed capital to the deal, which closed on July 30. Built in 2020 at 665 N. Bagdad Road, The Conley offers one-, two- and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Riverwalk-Phase-III-&-IV
FinanceNew JerseyNewsNortheast

JLL Arranges $131.1 Million Refinancing for New Jersey Asset

by Lynn Peisner

ELMWOOD PARK, N.J — JLL Capital Markets has arranged a $131.1 million loan for a private company headed by Bernard F. Langan to refinance Riverwalk Phase III and IV. The five-year, floating-rate loan was sponsored by MF1 Capital LLC, a joint venture between Limekiln Real Estate and Berkshire Residential. Riverwalk Phase III & IV (also known as The Landings at Riverwalk) consists of four buildings situated on a 7-acre site along the Passaic River. Phase III, comprising 240 units across two buildings, was completed in early 2023 and is currently 85 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Canyon-Reserve
ColoradoFinanceNewsWestern

Mesa West Sponsors $52 Million ReFi Loan for Metro Denver Asset

by Lynn Peisner

WESTMINSTER, COLO. — Mesa West Capital has provided an affiliate of Crow Holdings Capital with a $52 million loan to refinance debt on Canyon Reserve at the Ranch. The 256-unit, garden-style property is located 12 miles north of Denver in Westminster. The 17-building Canyon Reserve at the Ranch was developed in 1984 and fully renovated in 2022. Units are comprised of a mix of one- and two-bedroom floor plans. Amenities include a resort-style pool, grills, a fitness center and a dog park.

Continue Reading
0 FacebookTwitterLinkedinEmail
Asher
DevelopmentFinanceFloridaNewsSoutheast

PGIM Provides Tampa Developer $110 Loan for Asher Residences

by Lynn Peisner

TAMPA, FLA. — PGIM Real Estate has provided a $110 million, five-year, interest-only, fixed rate loan to Cascade Investment for the refinancing of Asher Residences in Tampa. The 22-story building is a part of the Water Street development downtown and was completed in December 2021. Strategic Property Partners, the developer of Asher Residences as well as the master developer of Water Street Tampa, is a subsidiary of Cascade Investments. The community contains 490 units, including 97 furnished residences that are operated as part of a partnership with ROOST Apartment Hotels. …

Continue Reading
0 FacebookTwitterLinkedinEmail
326-Rockaway
Affordable HousingDevelopmentNew YorkNewsNortheast

Construction Wraps on Brooklyn Affordable Housing Development

by Lynn Peisner

NEW YORK CITY — Slate, RiseBoro and Goldman Sachs have completed 326 Rockaway Avenue, a 216-unit affordable housing development in the Brownsville neighborhood of Brooklyn. One hundred thirty units are supportive housing for tenants who formerly were homeless, and the remaining units are available for households earning no more than 60 percent of area median income. Amenities at the community include an outdoor recreation area with play structures and landscaped areas, a community room, fitness center and children’s playroom.

Continue Reading
0 FacebookTwitterLinkedinEmail
Royal-Palms-Main-Street
Build-to-RentDevelopmentFinanceFloridaNewsSoutheast

Ceiba Groupe Receives $40.2 Million Construction Loan for Jacksonville Project

by Lynn Peisner

JACKSONVILLE, FLA. — Ceiba Groupe, a Fort Lauderdale-based developer, has received a $40.2 million construction loan for Royal Palms Main Street, a community in Jacksonville that is slated for completion in the first quarter of 2027. JLL arranged and Crestline Investors originated the loan. The 227-unit community Royal Palms Main Street will feature 168 elevator-serviced, garden-style apartments and 59 townhomes. Units will be offered as one- and two-bedroom apartments and three- and four-bedroom townhomes. Amenities include a clubhouse, a pool, fitness center, a dog park and spa, a playground, climate-controlled …

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