Author

Lynn Peisner

Wild-Pines
Affordable HousingBerkadiaFinanceFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Acquisition Financing for Naples, Florida, Deal

by Lynn Peisner

NAPLES, FLA. — Interface Properties has acquired Wild Pines of Naples from an undisclosed seller and undisclosed total sales price. Berkadia arranged $26.6 million in acquisition financing, which includes a $20.6 million senior loan and an additional $6 million supplemental through Freddie Mac. Senior Managing Director Mitch Sinberg, Director Michael Basinski and Managing Directors Scott Wadler, Brad Williamson and Matt Robbins led the Berkadia team. Half of the community’s 200 units are income-restricted, but specifics weren’t disclosed. The property was built in multiple phases between 1968 and 2001. Wild Pines …

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Archstone
Investment SalesNewsWashingtonWestern

AvalonBay Sells Seattle Asset for $63.3 Million

by Lynn Peisner

REDMOND, WASH. — AvalonBay (NYSE: AVB) has sold Archstone Redmond Lakeview Apartments, a 166-unit community in Redmond, 15 miles west of Seattle to TruAmerica. CBRE arranged the $63.3 million sale. Archstone Redmond Lakeview Apartments was built in 1987 on the Lake Sammamish waterfront. The property has one- and two-bedroom units with private patios, walk-in closets and fireplaces. It also has direct access to a private dock with 45 income-generating boat slips. Community amenities include a renovated clubhouse, fitness center, canoe parking, a pet area and an outdoor deck with views …

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Clock-Tower-Residences
DevelopmentFinanceNewsTexas

Radom Capital Secures Financing, Breaks Ground on Houston Adaptive Reuse Project

by Lynn Peisner

HOUSTON — Radom Capital and Asana Partners have secured construction financing for and broken ground on Clock Tower Residences in Houston, the multifamily portion of the JV’s Heights Clocktower mixed-use project in Houston’s Heights neighborhood. JLL arranged a four-year construction loan through Veritex Community Bank. The project is a redevelopment of the Heights Clock Tower building, which dates back to approximately 1894. Radom acquired the property in 2020, according to the Houston Business Journal and CoStar, and co-owns the building with retail real estate investment firm Asana Partners. Clock Tower …

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The-Preserve-Luxury-Apartments
FloridaInvestment SalesNewsSoutheast

Ownership of The Preserve in Jacksonville Changes Hands

by Lynn Peisner

JACKSONVILLE, FLA. —  Becovic Management Group has sold The Preserve in Jacksonville to Safe Harbor Investments LLC. JLL Capital Markets arranged the sale, representing Becovic in the deal. The sales price was not disclosed. The Preserve, a 192-unit property built in 2024, is comprised of one-, two- and three-bedroom floor plans. Amenities include a resort-style pool with a sun deck, a 24-hour fitness center, coworking spaces with Wi-Fi and a resident lounge with a coffee bar and pet spa.

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Kim-Young
Industry VoicesOperationsTechnology

To Click or to Connect: Nailing the Balance Between Leasing Tech and Human Touch

by Lynn Peisner

By Kim Young In multifamily leasing, striking the right balance between automation and human connection isn’t just a technological decision. It’s the difference between signing a lease and losing a prospect forever.  ​According to the 2024 NMHC/Grace Hill Renter Preferences Survey Report, 73 percent of renters expect digital leasing options, yet 67 percent say personal interaction influences their decisions. These numbers tell a compelling story that every operator should heed.  ​As managers, we aren’t merely optimizing workflows. We’re orchestrating living experiences that transform curious browsers into committed residents. Then we …

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Chibuzor Nnaji
Company NewsNewsPeople NewsTexas

Franklin Street opens Dallas Office, Appoints Chibuzor Nnaji to Lead Multifamily 

by Lynn Peisner

DALLAS — Franklin Street, a Tampa, Florida-based real estate firm whose services include investment sales and property management, has opened an office in Dallas and hired Chibuzor Nnaji as a managing director to lead a multifamily investment sales team. Prior to joining Franklin Street, Nnaji served as senior managing director at Global Real Estate Advisors (GREA). Dallas is Franklin Street’s 11th office. In May of this year, the firm opened its Nashville office, and in late 2024, it opened an office in Cincinnati, where the company’s student housing team is …

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Clayton at Tour 18
DevelopmentNewsTexas

BHW Capital Breaks Ground in Houston on Second Golf Course-Adjacent Property

by Lynn Peisner

HOUSTON — Locally based multifamily development firm BHW Capital has begun construction on Clayton at Tour 18, a 288-unit community located adjacent to the fairway of the 12th hole on the Tour 18 golf course in the Atascocita/Humble area of Northeast Houston. This project is BHW’s second multifamily development in the area. In 2020, the firm completed construction of The Park at Tour 18, a 241-unit community. BHW anticipates completion by the end of 2027, with leasing commencing in 2026. The one- and two-bedroom units will feature open-concept floorplans, built-in …

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The-Riverie
Affordable HousingDevelopmentLeasing & MarketingNew YorkNewsNortheast

Leasing Begins at The Riverie in Brooklyn’s Greenpoint Neighborhood

by Lynn Peisner

NEW YORK CITY — Lendlease has launched pre-leasing at The Riverie, an 834-unit mixed-income development in the Greenpoint area of Brooklyn that fronts the East River. Thirty percent of the units are designated affordable, but specific rent caps were not disclosed. Designed by Marvel Architects, The Riverie includes a 37-story and a 20-story tower with a connected mid-rise podium. The property also includes approximately 13,000 square feet of retail space, as well as an 18,000-square-foot public waterfront esplanade connecting to the India Street Pier, which is served by the NYC …

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M2-at-Millenia
FloridaInvestment SalesNewsSoutheast

JSB Capital, BLD Group Sell Orlando Asset

by Lynn Peisner

ORLANDO, FLA. — JSB Capital Group and BLD Group have sold M2 at Millenia, a 403-unit property in Orlando. JLL Capital Markets, representing the sellers, arranged the transaction. The buyer was Independence Realty Trust. The acquisition cost was not disclosed. Built in 2019, M2 at Millenia is a five-story community consisting of one-, two- and three-bedroom units. Amenities include a resort-style pool, 24-hour fitness center, yoga studio and an entertainment lounge with a kitchen, bar and outdoor grilling areas. M2 at Millenia also includes 4,216 square feet of ground-floor retail …

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The-James
Investment SalesNew JerseyNewsNortheast

Veris Residential Sells The James in New Jersey for $117 Million

by Lynn Peisner

PARK RIDGE, N.J. — CBRE has arranged the $117 million sale of The James in Park Ridge, 27 miles north of Manhattan. Veris Residential was the seller. The buyer’s identity was not disclosed. The CBRE team representing Veris included Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer of CBRE Institutional Properties and Roland Merchant and Tom Pryor of CBRE’s Investment Banking team. Built in 2021, The James consists of 240 units along with approximately 18,000 square feet of ground- floor retail space. Amenities include a fitness center with a …

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