Author

Lynn Peisner

Declan-Hermitage-Rendering
DevelopmentNewsSoutheastTennessee

Flournoy Selects McShane to Lead Construction of Nashville Project

by Lynn Peisner

NASHVILLE, TENN. — Flournoy Development Group has selected McShane Construction Co. to build Declan Hermitage, a 315-unit community in Nashville’s Hermitage neighborhood. Completion of Declan Hermitage is slated for June 2027. Dynamik Design is the architect. Positioned on a 15-acre site, the development will integrate six garden-style buildings with three and four stories. Units will be offered in one- to three-bedroom layouts. Amenities will include a clubhouse, pool and sun deck, grill stations, fire pits, a dog park and a car wash. McShane is currently building three additional multifamily communities …

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Affordable HousingArizonaDevelopmentNewsWestern

Dominium Acquires Land for LIHTC Development in Metro Phoenix

by Lynn Peisner

SURPRISE, ARIZ. — Dominium has closed on land in Surprise, a Phoenix suburb about 22 miles northwest of downtown. The developer is planning to build Allasso Ranch on the site. The project will comprise 304 affordable homes supported by low-income housing tax credits. While specific area-median-income caps were not disclosed, the developer says a three-bedroom unit will rent for $1,597 per month, and a four-bedroom will rent for $1,770. According to RentCafe, average monthly asking rents for a three-bedroom in Surprise are about $2,054. Amenities will include a leasing center, …

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Village_on_Spring_Mill
FinanceGeorgiaIndianaKentuckyMidwestNewsOhioSoutheast

Buckingham Cos. Lands $330 Million Loan for Seven-Property Portfolio

by Lynn Peisner

INDIANAPOLIS — Indianapolis-based investor Buckingham Cos. has received a $330 million loan to refinance seven properties in five states. The New York-based CBRE Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione, Tom Traynor, Tom Rugg, Jake Salkovitz, Henry Fenmore, Lauren Weinstein and Justin Helbling arranged the floating-rate loan funded by Goldman Sachs and Atlas SP Partners. Buckingham’s portfolio comprises 2,381 units. The firm began acquiring the properties, which were constructed between 1982 to 2021, seven years ago and has invested approximately $45 million in capital improvements since then, …

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Walker-Apartments
FloridaInvestment SalesNewsSoutheast

Marcus & Millichap Brokers Sale of 65-Year-Old Miami Asset

by Lynn Peisner

MIAMI — Marcus & Millichap has arranged the $3.6 million sale of Walker Apartments, a five-building, 18-unit portfolio in Miami. Nicholas McAndrew, Evan P. Kristol and Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private owner in the transaction, marking the first time the property has changed hands in about 40 years. Built in 1960, the units at Walker Apartments are located at five separate street numbers along NE 5th Place on a 1.2-acre lot. The unit mix comprises one- and three-bedroom apartments. …

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WynwoodHaus
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $56 Million Fannie Mae ReFi for Miami High-Rise

by Lynn Peisner

MIAMI — Berkadia has arranged a $56 million Fannie Mae loan on behalf of a joint venture partnership that is refinancing Wynwood Haus, a 224-unit, 20-story community developed in 2024 in Miami’s Wynwood neighborhood. The joint venture owners are LD&D, IGEQ, Black Salmon and Bridge Investment Group. The deal closed on July 21, at which time the property was 94 percent occupied. Wynwood Haus offers studios, one- and two bedroom-units and 6,824 square feet of ground-floor retail. One hundred of the apartments are designated as workforce housing for households earning …

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Westhaven-Park
Affordable HousingDevelopmentIllinoisMidwestNews

Development Team Completes Westhaven Park Station in Chicago

by Lynn Peisner

CHICAGO — McShane Construction Co. and partner Ashlar Construction have completed the development of Westhaven Park Station in Chicago. Developers on the 96-unit, mixed-income project were Brinshore Development and The Michaels Organization. The 12-story building marks the final phase of redevelopment of the former Henry Horner Homes complex, which was a cluster of several public-housing buildings originally developed in the 1950s and 1960s in the Near West Side area. The concrete building offers a total of 121,800 square feet with three retail spaces on the ground floor and residential units on …

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Alliance-Residential-TheWeldon
DevelopmentGeorgiaLeasing & MarketingNewsSoutheast

Alliance Opens Broadstone Development in McDonough

by Lynn Peisner

MCDONOUGH, GA. — Alliance Residential has opened The Weldon by Broadstone, a 330-unit community in McDonough, an Atlanta suburb located about 35 miles south of downtown. The architect and interior designer on the project was Atlanta-based Dynamik Design, Planners & Engineers Collaborative+ was the project’s engineer.  The Weldon offers a selection of one- and two-bedroom units that feature full-size Samsung side-by-side washers and dryers. Amenities include a saltwater pool with in-pool chaises, outdoor lounge seating and a pergola-covered outdoor entertainment area with grilling stations. Additional amenities include a 24-hour fitness …

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Willows-at-Grande-Dunes
Investment SalesNewsSouth CarolinaSoutheast

Hamilton Point Buys Myrtle Beach Asset

by Lynn Peisner

MYRTLE BEACH, N.C. — Hamilton Point Investments has acquired Willows at Grande Dunes in Myrtle Beach. Cushman & Wakefield’s Alex McDermott, Austin Green, Charlie Gravina, Paul Marley and Rhodes Marley arranged the sale, representing the undisclosed seller in the deal. The asset was developed in 2023. Hamilton Point is a private equity investment firm based in Old Lyme, Connecticut, with a portfolio comprised mainly of Sun Belt properties. The company also recently bought Bridgewater Grand, a 300-unit property in Lakeland, Florida, from TrimCor.

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Paseo-LV-Collective
DevelopmentLeasing & MarketingNewsTexas

LV Collective Pre-Leasing Austin High-Rise

by Lynn Peisner

AUSTIN, TEXAS — Locally based multifamily and student-housing developer LV Collective, formerly known as Lincoln Ventures, has launched pre-leasing at Paseo, its new mixed-use property at 80 Rainey St. The 48-story tower will be fully complete and open by October. The developer broke ground on the project in 2023. Paseo offers 557 units as studios or in one-, two- and three-bedroom floor plans as well as four penthouses. Monthly asking rents start at approximately $1,900. Amenities include a pool, deck and bar on the 12th floor with views of Lady …

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355-Exterior-Street-J-Frankl-Architects
DevelopmentFinanceNew YorkNewsNortheast

SCALE Lending Provides $305 Million Loan to Beitel Group for Bronx Development

by Lynn Peisner

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided Beitel Group a $305 million construction loan for an unnamed development at 355 Exterior St. in the Mott Haven neighborhood of South Bronx. Landstone Capital Group arranged the financing. The community will consist of two connected 40-story and 26-story residential towers totaling 515,000 square feet with 755 units. The Beitel Group demolished the existing buildings and completed excavation work after entering a contract to purchase the site in October 2024. Construction began in December …

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