Author

Lynn Peisner

Foxrun-Clifton-Park-NY
Investment SalesNew YorkNewsNortheast

Eastham Capital, Merion Realty Complete Two-Property, Value-Add Acquisition Near Albany

by Lynn Peisner

CLIFTON PARK, N.Y. — Eastham Capital and Merion Realty Partners have acquired two assets, Foxrun and North Pointe, in Clifton Park, which is 20 miles north of Albany. The sales price was not disclosed. Florida-based Eastham Capital has a majority ownership through its Eastham Capital Fund VI. Pennsylvania-based Merion Realty, a co-investor, will oversee day-to-day property management at both properties. The new owners are planning a value-add approach with such upgrades as new roofs, parking lots, mechanical systems, landscaping, siding, amenity updates, new interiors and general site improvements. Combined, the …

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Vida-Lakewood-Ranch
BerkadiaFloridaInvestment SalesNewsSoutheast

Zilber Residential Sells Bradenton Asset for $92 Million

by Lynn Peisner

BRADENTON, FLA. — Zilber Residential Group, a Milwaukee-based developer, owner and property manager founded in 1949, has sold Vida Lakewood Ranch in Bradenton to an undisclosed investor for $92 million. Berkadia Senior Managing Director Matt Mitchell and Director Chris Burtner represented Zilber, which developed the asset, in the deal. The two-story, garden-style Vida is located in Lakewood Ranch, a master-planned community that spans 50 square miles in Manatee and Sarasota counties. The property is comprised of one- and two-bedroom units. Amenities include a fitness center, shaded game lawn and grilling …

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Alex-at-Patterson-Place
BerkadiaBuild-to-RentInvestment SalesNewsSouth CarolinaSoutheast

Berkadia Arranges Hilton Head Sale

by Lynn Peisner

HILTON HEAD ISLAND, S.C. — Berkadia has arranged the sale of Cottages at Alex Patterson Place, a build-to-rent (BTR) property in Hilton Head. Berkadia represented the seller, a partnership between Putnam Atlantic Properties and Verde Capital, in the deal, which closed on June 25. The buyer was Florida-based Sakim Realty Holdings. The Cottages at Alex Patterson comes “permit-ready” for a second phase that could include the development of six additional cottages, according to Berkadia.

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oslo-Overland-Park
DevelopmentKansasLeasing & MarketingMidwestNews

Ryan Cos., EPC Open Oslo in Overland Park

by Lynn Peisner

OVERLAND PARK, KAN. — Ryan Cos. and EPC Real Estate Group have opened The Oslo, a four-story, 413-unit property in Overland Park, a suburb of Kansas City. Residents are moving into the first two buildings, which opened in March and May. The remaining buildings are set to open later this year. Developers broke ground in October 2023. Ryan served as the developer, builder and capital markets partner for The Oslo, working in partnership with EPC Real Estate Group on the project. NSPJ Architects led the architectural design. Olsson provided civil …

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Sienna-&-Sienna-Park
Investment SalesNewsWashingtonWestern

IPA Arranges Two-Property, $43 Million Deal in Seattle MSA

by Lynn Peisner

TACOMA, WASH. — Institutional Property Advisors (IPA) has arranged the sale of Sienna and Sienna Park, two adjacent properties with a total of 248 units just outside Tacoma. Interstate Equities Corp. acquired the assets for $43 million. Built in 1986 and 1988, the two Siennas create a value-add investment opportunity for Interstate Equities, according to Ryan Harmon, part of IPA’s team, which also included Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino. IPA represented the seller, Goodman Real Estate, in the transaction. Sienna is an 80-unit asset with eight …

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290-Coles-Street-Jersey-City
DevelopmentNew JerseyNewsNortheast

Partnership Breaks Ground on $400 Million Jersey City Development

by Lynn Peisner

JERSEY CITY, N.J. — A partnership between New York-based developer The Albanese Organization, BXP (NYSE: BXP) and Boston-based investment manager CrossHarbor Capital Partners has broken ground on 290 Coles Street, a $400 million multifamily development in Jersey City. Completion is slated for spring 2028. In addition to its namesake thoroughfare, the 1.7-acre site in the West SoHo neighborhood, which spans a full city block, is bounded by Jersey Avenue and 16th and 17th streets. Plans call for 670 apartments, 60,000 square feet of indoor and outdoor amenity space and 13,000 …

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3850-Blake
Affordable HousingColoradoDevelopmentFinanceNewsWestern

JLL Arranges $65.5 Million Construction Loan for Denver Development

by Lynn Peisner

DENVER — JLL Capital Markets has arranged a $65.5 million construction loan on behalf of Formativ, a locally based investment and development firm that is building 3850 Blake, a 310-unit property in Denver’s River North (RiNo) district. Formativ broke ground on the 16-story affordable-housing property in June and estimates construction will be complete in the third quarter of 2027. Units will be offered as a mix of studios and one-bedroom floor plans and are rent capped for residents earning between 70 and 100 percent of area median income. Amenities include …

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River-West-Chicago
IllinoisInvestment SalesMidwestNews

Greenstone Partners Brokers Chicago Sale

by Lynn Peisner

CHICAGO — Greenstone Partners has arranged the sale of 693 North Peoria St., a nine-unit property located in the River West neighborhood of Chicago. The property sold for approximately $4.3 million. Senior Director Jordan Multack represented the undisclosed seller and sourced a local 1031 exchange buyer. Units have washers, dryers and balconies.

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Bell-Parker-Ranch
ColoradoInvestment SalesNewsWestern

Bell Partners Buys, Rebrands Montane Apartments Near Denver

by Lynn Peisner

PARKER, COLO. — Bell Partners has acquired Montane Apartments in Parker, about 25 miles southeast of Denver. The property was acquired with a fund earmarked for value-add acquisitions. Bell Partners is planning unit upgrades. Neither the seller nor the sales price was disclosed. According to the Colorado Real Estate Journal, the asset was sold in 2019 for $120 million and was developed a year earlier by Alliance Residential. Montane Apartments has been renamed Bell Parker Ranch. The 400-unit, garden-style community is comprised of one-, two- and three-bedroom floor plans. Amenities …

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MEM-Building-A
Affordable HousingDevelopmentMassachusettsNewsNortheast

WinnCos. Breaks Ground on First Phase of Boston Public Housing Redevelopment

by Lynn Peisner

BOSTON — WinnCos. has broken ground on Phase I of the redevelopment of the Mary Ellen McCormack (MEM) public housing project in Boston. Activity will kick off with the construction of a $62 million building known as Building A. This ground-up construction will provide new homes to the 94 low-income families currently living in the community. WinnCos. says Building A move-ins will occur in fall 2026. Once complete, the revamped 30-acre MEM community will include 3,300 rental homes, effectively tripling the number of units currently available. Along with Building A, …

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