Author

Lynn Peisner

Northmarq Arranges $62 Million in Construction Financing for Hackensack TOD

by Lynn Peisner March 22, 2023

HACKENSACK, N.J. — Northmarq’s New Jersey regional debt and equity office has arranged a $62 million construction loan for 321 Main Street in Hackensack. The seven-story, mixed-use building will include 270 apartments over two floors of garage parking and approximately 8,700 square feet of street-level retail. The property will consist of 20 studios, 189 one-bedroom units and 61 two-bedrooms. Amenities will include a dog-walking area, a third-floor elevated courtyard, a clubroom and fitness center, bike storage and a concierge desk. The project was conceived under the Hackensack Redevelopment Plan, which …

March 22, 2023

The Lyric at Norton in Prospect, Kentucky

Company News News Operations Southeast

Capital Square Launches Property Management Group

by Lynn Peisner March 20, 2023

RICHMOND, VA. — Capital Square has launched a management division called Capital Square Living. The wholly owned subsidiary will oversee all management functions of the portfolio of 55 assets that the Richmond-based firm either owns and/or has developed. The properties comprise about 14,000 units across the Southeast and Texas. Capital Square Living will begin the phased onboarding of communities in April, providing services that include operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing and resident-retention functions. “By internalizing property management, the same management team will …

March 20, 2023

Facade of 100 Cherry Hill Road project in Parsippany, New Jersey

Affordable Housing Development New Jersey News Northeast

Accurate Breaks Ground on 26-Acre New Jersey Project

by Lynn Peisner March 20, 2023

PARSIPPANY-TROY HILLS, N.J. — Locally based developer Accurate has broken ground on a 26-acre property at 100 Cherry Hill Road in Parsippany-Troy Hills, about 30 miles northwest of Manhattan. The project will consist of 325 units within two four-story buildings, both built above ground-level garage parking. Sixty-five of the units will be earmarked as affordable units. Rent restrictions were not disclosed. The developer is including 14 studios, 210 one-bedroom units, 88 two-bedroom apartments and 13 three-bedroom floor plans. Amenities will include a clubroom, fitness center and multi-sport lounge. The first …

March 20, 2023

Affordable Housing Development Florida News Southeast

Walker & Dunlop Arranges $51 Million for Florida Affordable Housing, Opportunity Zone Project

by Lynn Peisner March 17, 2023

OAKLAND PARK, FLA. — Walker & Dunlop has arranged $51 million in construction financing for Sky Building in Oakland Park, located midway between Pompano Beach and Fort Lauderdale. Miami-based NRI Investments is developing the project and has signed a development agreement, lease agreement and purchase and sale agreement for the site with the City of Oakland Park. Sky Building’s 2-acre site is located in an Opportunity Zone. The mid-rise development will deliver 136 affordable and workforce units, connected by a sky bridge to the City of Oakland Park’s new city …

March 17, 2023

Rendering of Saxum's first phase of a multifamily project in Philadelphia

Development News Northeast Pennsylvania

JLL Arranges $77.5 Million for Saxum’s First Phase of Philadelphia Project

by Lynn Peisner March 16, 2023

PHILADELPHIA — JLL Capital Markets has arranged a $77.5 million construction loan on behalf of Saxum Real Estate for the first phase of an unnamed multifamily development in Philadelphia. The Summit, New Jersey-based firm will build 279 units in this first phase, followed by an additional 187 units in Phase II. The seven-story project is located in the Northern Liberties area of Philadelphia. The development also will include 15,000 square feet of retail. JLL worked on behalf of Saxum Real Estate to secure the three-year, floating-rate loan through a U.S. …

March 16, 2023

Affordable Housing News Southeast Tennessee

LDG Breaks Ground $79.6 Million Affordable Project in Nashville

by Lynn Peisner March 14, 2023

NASHVILLE, TENN. — LDG Development has broken ground on Ewing Heights in North Nashville. The affordable housing project will deliver 180 two- and three-bedroom apartments as well as 10 three- and four-bedroom townhomes for families earning between 40 and 80 percent of area median income (AMI). Amenities include a fitness and business center, a pool and a dog park. Completion is slated for mid-2024. The estimated development cost for Ewing Street is $79.6 million. Financing for the project was secured by 4 percent Low-Income Housing Tax Credits (LIHTC) and tax-exempt …

March 14, 2023

Rendering of The Alice in Princeton, New Jersey

Affordable Housing Development New Jersey News Northeast

WinnCompanies Breaks Ground on $63 Million Mixed-Income Project in Princeton, New Jersey

by Lynn Peisner March 13, 2023

PRINCETON, N.J. — WinnCompanies has started construction on The Alice, a $63 million, mixed-income project in Princeton. The Boston-based developer is also preparing to start work on a 1.5 acre public park with a playground, seating and a dog park adjacent to the 125-unit apartment property. The Alice is expected to be complete and ready for occupancy by the summer of 2024. Of the 125 apartments, 100 will be leased at market rates and 25 will be available in rent restrictions ranging from 30 to 80 percent of area median …

March 13, 2023

Industry Voices Operations Technology

Property Owners Providing the Latest Wi-Fi Technology Will Attract and Keep Residents

by Lynn Peisner March 13, 2023

The boundaries between work and personal time are becoming increasingly blurred. But, as Thomas Edison once said, “Time is really the only capital that any human has and the only thing he can’t afford to lose.” Apartment owners and operators need to provide environments that support the way their tenants choose to spend their time living and working today. The concept of work-life balance has taken on new meaning because of the constant connectivity provided by mobile devices, laptops, streaming services, voice assistants, gaming and video calls — all combined …

March 13, 2023

Lexington Park's facade in Smyrna, Georgia

Georgia Investment Sales News Southeast

Cushman & Wakefield Arranges $24 Million Value-Add Sale in Suburban Atlanta

by Lynn Peisner March 10, 2023

SMYRNA, GA. — Cushman & Wakefield has arranged the $24 million sale of Lexington Park in Smyrna, an Atlanta suburb about 22 miles from downtown. Castlegate Property Group sold the 156-unit asset to Knickerbocker Asset Management. Cushman & Wakefield’s Travis Presnell, Nathan Swenson and James Wilber represented the seller. Lexington Park was built in 1963. A pool, dog park and business center are among the property’s amenities. The former owner updated Lexington Park’s exterior with new paint, replaced signage and renovated the leasing office. Cushman & Wakefield says additional value-add …

March 10, 2023

A rendering of HARMON Legacy Trail in Sarasota

Development Florida News Southeast

Crescent Communities Breaks Ground on Market-Rate and BTR Projects in Sarasota, Florida

by Lynn Peisner March 9, 2023

SARASOTA, FLA. — Crescent Communities started construction of a multifamily community, RENDER Legacy Trail, and a build to rent (BTR) community, HARMON Legacy Trail, in Sarasota on March 1. The development sites are adjacent and will be part of the same neighborhood. RENDER, a joint venture with FCP, includes 450 units, in one- to three-bedroom floor plans. A self-service package area, 24-hour fitness center and co-working lounges are some of the amenities. HARMON Legacy Trail consists of 76 townhomes in three- and four-bedroom configurations. Both properties have direct access to …

March 9, 2023

Newer Posts

Older Posts