Author

Lynn Peisner

EDE-Frederick
DevelopmentFinanceMarylandNewsNortheast

The Goldstar Group Secures Pre-Stabilization Refinancing

by Lynn Peisner

FREDERICK, MD. — Newmark has arranged a fixed-rate, Fannie Mae loan for The Goldstar Group to refinance EDE in Frederick. The loan was provided through Fannie Mae’s Near Stabilization Program, which allows the borrower to pay off a construction loan prior to stabilization. Qualifications depend on several factors, including the company’s financial health and development track record. The amount of the loan was not disclosed. Newmark’s team was led by Adam Randall, John Westby-Gibson and Drake Blodgett. Bethesda, Maryland-based The Goldstar Group developed EDE in 2024. JAG Management Co. is …

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8th-and-Republican-Seattle
Investment SalesNewsWashingtonWestern

CBRE Arranges $94.9 Million Seattle Transaction

by Lynn Peisner

SEATTLE — CBRE has arranged the $94.9 million sale of 8th + Republican in Seattle’s South Lake Union neighborhood. CBRE did not disclose the identity of either party to the transaction, but according to the Daily Journal of Commerce, the buyer was locally based Goodman Real Estate along with an unnamed partner, and the seller was the original developer, Scottsdale, Arizona-based The Wolff Co. CBRE’s Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper represented the seller. According to CBRE Research, this transaction is one of the highest prices per …

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Clear-Lake-Townhomes-Pooler
DevelopmentFinanceGeorgiaNewsSoutheast

Joint Venture Secures $38.7 Million in Construction Financing for Pooler Project

by Lynn Peisner

POOLER, GA. — 360 Communities, an affiliate of Freehold Capital Management and Rockpoint, has secured a $38.7 million construction loan to develop Clear Lake Reserve, a rental townhome community in Pooler, 10 miles west of Savannah. JLL arranged the floating-rate, three-year loan through Western Alliance Bank. The 199-unit community will include three- and four-bedroom floor plans, each with an attached, two-car garage, private driveway and covered porch. Amenities will include a resort-style pool, a fitness center, basketball and pickleball courts, a clubroom, a brick fire pit, a dock overlooking a …

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The-Pearl-at-St-Rose-Las-Vegasl
Investment SalesNevadaNewsWestern

MG Properties Buys Vegas Property for $64 Million

by Lynn Peisner

LAS VEGAS — MG Properties has acquired The Pearl at St. Rose from an affiliate of the CONAM Group for $64 million. The asset was built in 2000 and is located within the Silverado Ranch master-planned community in Southeast Las Vegas. This trade marks San Diego-based MG Properties’ ninth acquisition so far in 2025. The 270-unit Pearl at St. Rose offers amenities such as a pool and hot tub, a fitness center, a dog park and a clubhouse. CONAM was represented by Charles Steele, John Cunningham and Jared Glover of …

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The-Raye-at-Vermella-New-Brunswick
DevelopmentFinanceNewsNortheast

JLL Arranges $162 Million Loan for Russo Development’s Raye by Vermella

by Lynn Peisner

NEW BRUNSWICK, N.J. — Russo Development has secured permanent financing for The Raye by Vermella, a 534-unit community in New Brunswick. JLL Capital Markets arranged the $162 million loan, which was funded by Wells Fargo. The first phase of construction includes 262 units and is 65 percent leased, with full stabilization expected by the fourth quarter of this year. In Phase II, the developer will build 262 additional units. A construction timeline wasn’t disclosed, but Russo expects Phase II will be stabilized by the third quarter of 2027. JLL Capital …

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Carrollton-Flats
Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

R.H. Ledbetter Secures Equity for $49 Million Atlanta Metro Workforce Project

by Lynn Peisner

CARROLLTON, GA. — R.H. Ledbetter Properties, a development, investment and property-management firm based in Rome, Georgia, has secured $15 million in equity to put toward its $49 million project in Carrollton. The equity was provided by American South Capital Partners (ASCP), a joint venture between Los Angeles-based impact fund manager SDS Capital Group and Vintage Realty Co., a Shreveport, Louisiana-based property developer and manager. While the property, Carrollton Flats, is not being developed with traditional tax credits, it is billed as offering “attainable” rents.  ASCP’s fund has, to date, committed …

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Durango-Las-Vegas
DevelopmentNevadaNewsWestern

NRP Group, Haseko Underway on $133 Million Las Vegas Project

by Lynn Peisner

LAS VEGAS — The NRP Group has partnered with Haseko North America, the U.S. subsidiary of a Japanese condominium builder, and broken ground on a $133 million community in Las Vegas. Located at the northeast corner of West Maule Avenue and Gagnier Boulevard, the site is across from the Durango Casino & Resort and adjacent to The UnCommons, a mixed-use destination featuring apartments, retail, dining and office space. The four-story, single-building development will comprise a mix of 309 studio, one-, two- and three-bedroom units. Amenities include a pool, two landscaped …

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Park-Metro
Investment SalesNewsWashingtonWestern

IPA Arranges $33 Million Metro Seattle Sale

by Lynn Peisner

BELLEVUE, WASH. — The Sobrato Organization has acquired Park Metro Apartments in Bellevue, Washington, for $33 million. The seller was an entity doing business as Northpoint Parkmetro LLC that was represented in the deal by IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino. “Completed in 2014, the property is primed for a light-value add program,” said Napoli. Amenities at Park Metro include a resident lounge, a rooftop terrace, a fitness center and electric vehicle charging stations. The community offers 78 units in a mix of studios, …

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District-in-Davie
DevelopmentFinanceFloridaNewsSoutheast

El-Ad Secures $85 Million for Broward County Mixed-Use Project

by Lynn Peisner

DAVIE, FLA. — El-Ad National Properties has secured an $85 million construction loan for The District in Davie, a $1 billion, 2.8-million-square-foot mixed-use development currently under construction in Davie. According to the developer, the financing, provided by Valley National Bank, will enable vertical construction to continue. The project will feature five residential towers ranging from 21 to 24 stories containing approximately 1,292 rental residences, 36,000 square feet of restaurant and retail space and 1.1 million square feet of access-controlled parking with 2,650 spaces. Each tower will offer studios and one-, …

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Danielle-Katz
Affordable HousingDevelopmentFinanceIndustry Voices

Affordable Housing Developers Are Undeterred by New Funding Challenges Ahead in 2026

by Lynn Peisner

The affordable housing industry is entering its cautious momentum era. On one hand, the One Big Beautiful Bill Act (OBBBA) significantly enhanced the Low-Income Housing Tax Credit (LIHTC), making more credits available and making the credits easier to qualify for. On the other hand, the parallel cuts to federal funding, general uncertainty in the market and a decline in investor interest keep the industry outlook guarded. The tax credit is a powerful tool used by developers to aid in the construction and development of affordable housing projects across the country. …

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