Author

Lynn Peisner

Shea-Ravines
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper, Cherry Health Break Ground on Affordable Housing Near Grand Rapids

by Lynn Peisner

WYOMING, MICH. — Cherry Health and Woda Cooper Cos. have broken ground on Shea Ravines, a 56-unit affordable housing community in Wyoming, about six miles south of Grand Rapids. Shea Ravines will be a LEED-certified, four-story building with an elevator. It will offer 40 one-bedroom and 16 two-bedroom apartments for singles, families and seniors who earn up to 80 percent of area median income. The property will have 20 Permanent Supportive Housing (PSH) units. These units are specifically reserved for people experiencing homelessness or people with disabilities. The PSH units …

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Link-at-Boca
DevelopmentFloridaNewsSoutheast

13th Floor Investments to Build Boca Raton TOD with 340 Units

by Lynn Peisner

BOCA RATON — South Florida-based developer 13th Floor Investments will develop Link at Boca, a multifamily transit-oriented development adjacent to the Boca Raton Tri-Rail station. The Tri-Rail is a commuter train that serves the Greater Miami and Palm Beach areas. The developer will complete construction by summer 2027. Link at Boca will consist of eight stories containing 340 market-rate and workforce apartments as well as 24,000 square feet of retail. Rent restrictions on the workforce units were not disclosed. Comras Co. is leading retail leasing. The project is a public-private …

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Birmingham, Alabama
AlabamaInvestment SalesMarket ReportsSoutheast

Birmingham, the Southeast’s Quiet Contender, Steps into the Spotlight

by Lynn Peisner

By Chad Thomas Hagwood The most successful investors in Birmingham are those who have allowed the economy’s natural forces to do the work for them, counting on the city’s steady growth to raise rents and elevate operating income. Until about two decades ago, The Magic City was a sleeper market reserved for local multifamily investors, but the word has long since gotten out. Large, sophisticated institutions like Blackstone and Starwood Capital are now active participants. Birmingham produces such stable results because it offers an attractive quality of life at a …

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LaAvenida-Apartments
Affordable HousingCaliforniaDevelopmentFeaturesFinanceWestern

CDFIs: Affordable Housing Developers’ Secret Ally in Bridging Predevelopment Funding Gaps

by Lynn Peisner

By Noni Ramos Across the country, affordable housing is facing intensifying headwinds. From Oakland to Omaha, developers are navigating rising construction costs, protracted approval processes and a funding landscape that rarely aligns with the urgency or complexity of the work. Public subsidies — while essential — are often insufficient to bring projects across the finish line. These conditions are particularly acute in high-cost regions, but they are playing out in communities of every size and type. In the face of these challenges, community development financial institutions (CDFIs) are stepping up. …

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Company NewsNewsPeople News

UDR Appoints Dave Bragg Chief Financial Officer

by Lynn Peisner

HIGHLANDS RANCH, COLO. — Publicly traded REIT UDR Inc. (NYSE: UDR) has appointed Dave Bragg as chief financial officer, effective July 24. Bragg succeeds Joe Fisher, who in January 2025 was appointed to the role of chief investment officer in addition to his responsibilities as the company’s president. Bragg joins UDR from Roots Management Group, an owner and operator of manufactured housing and recreational vehicle resort communities. Bragg joined Roots in 2022, most recently serving as chief financial officer and previously as chief strategy officer and head of investment management. …

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Green-Arbor-Apartments-2
Investment SalesNewsTexas

Colliers Arranges Sale of Green Arbor in Houston

by Lynn Peisner

HOUSTON — Colliers has arranged the sale of Green Arbor Apartments, a 252-unit community located at 10601 Sabo Road in Houston’s Southbelt‑Ellington area. The property’s units are offered as one-, two- and three-bedroom floor plans. Chip Nash, Bob Heard and Jaleel Adatia of Colliers led the transaction. Neither the buyer, seller nor asset price was disclosed. According to Apartments.com, monthly asking rents range from $842 to $1,727.

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Astria_Tempe
ArizonaDevelopmentInvestment SalesNewsWestern

Trinitas, Mitsui Fudosan Close on Land for Tower Near ASU

by Lynn Peisner

TEMPE, ARIZ. — Trinitas Ventures and Mitsui Fudosan America have closed on the land sale for Astria Tempe, a 27-story mixed-use tower near Arizona State University. Construction is slated for completion in summer 2027. This is Trinitas’ first collaboration with Mitsui Fudosan America, which is the U.S. division of publicly traded Japanese real estate company Mitsui Fudosan Co. Layton Construction Co. will serve as general contractor, and Niles Bolton Associates is the architect. BMO Bank is the lender on the project. TSB Capital Advisors arranged equity for the development. Development …

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Putnam-Green
ConnecticutInvestment SalesNewsNortheast

CBRE Arranges $20.7 Million Sale on Connecticut-New York Border

by Lynn Peisner

GREENWICH, CONN. — PIC Associates has sold Putnam Green in Greenwich to Beford Realty Executives for $20.7 million. CBRE’s Jeffrey Dunne, Eric Apfel and Travis Langer represented the seller and procured the buyer. Part of the sale included the buy-out of a ground lease. A neighboring property had owned Putnam Green land through a lease agreement set to expire in September. Putnam Green was built in 1976. The unit mix contains 28 studios and 38 one-bedroom apartments, 34 of which are two-story, duplex-style units. The property has 62 surface parking …

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TheHadley
Build-to-RentDevelopmentFloridaNewsSoutheast

Thompson Thrift Opens The Hadley on Florida’s West Coast

by Lynn Peisner

NORTH PORT, FLA. — Thompson Thrift has opened The Hadley in North Port, 35 miles south of Sarasota, Florida. Resident move-ins began in February. Thompson Thrift estimates all construction will be complete by February of 2026. The Hadley is a 268-unit property that sits on 25 acres. Each residence has a private front door entry and private outdoor patio as well as stainless-steel appliances, tile backsplashes, hardwood-style flooring, walk-in closets, full-sized washers and dryers, high-speed internet and smart thermostats. One-, two, and three-bedroom floor plans are available. Community amenities at …

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TerraLane-at-Hudson
ArizonaBuild-to-RentDevelopmentInvestment SalesNewsWestern

TerraLane Buys Land, Breaks Ground on Phoenix Project

by Lynn Peisner

QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor, Hancock Builders, in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Financing for the project is being provided by 400 Capital Management and Western Alliance Bank. …

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