Finance

Cinnaire Closes on $134 Million LIHTC Fund Backing 12 Affordable Housing Developments

by Lynn Peisner January 21, 2026

LANSING, MICH. — Cinnaire, a Lansing-based affordable housing investment nonprofit, has closed a $134 million Low-Income Housing Tax Credit (LIHTC) fund that will finance 12 affordable housing developments in five states. Examples of the new construction and redevelopment projects that Fund 44 will support include: Chamberlain House. A new-construction, 40-unit development in Rochester, Indiana. The developer is Housing Directions and Village Management Co. East Bay Flats. An acquisition-rehabilitation project in Traverse City, Michigan, this 64-unit community will support individuals who are at risk of homelessness. On-site supportive services, including substance-use …

January 21, 2026

Finance Georgia News Southeast

Ares Real Estate Secures $109 Million ReFi for Two North Atlanta Assets

by Lynn Peisner January 20, 2026

ACWORTH, HOSCHTON, GA. — Newmark has arranged a $109.5 million loan for Ares Real Estate to refinance two Atlanta-area assets. ACORE Capital was the lender, with Jordan Roeschlaub, Nick Scribani, Chris Kramer and Sam Speciale leading Newmark’s team. The two properties are The Knox in Acworth and The Finch in Hoschton, delivered in late 2023 and early 2024 respectively and comprising 638 units. Both offer resort-style pools, fitness centers, resident lounges and media rooms and outdoor gathering areas.

January 20, 2026

California Finance Industry Voices Investment Sales Operations Western

Why Renter Demand Is Surging Across the San Francisco Bay Area

by Lynn Peisner January 19, 2026

After several years of uncertainty, the San Francisco metro area multifamily housing market is showing clear signs of recovery. The first half of 2025 brought the largest expansion in multifamily demand in years. The 12-month trailing absorption surged to 3,700 units as of the third quarter, one of the highest levels in a decade. Vacancy rates have dropped to 5.1 percent, the lowest since 2014, and apartment rents are up 5.6 percent, placing San Francisco among the top metros in the nation for rent growth. Although sale prices had remained …

January 19, 2026

Development Finance News Texas

JPI Closes on Financing for $114 Million North Texas Project

by Lynn Peisner January 19, 2026

GRAND PRAIRIE, TEXAS — JPI has closed on financing through lender Anchor Loans for the $114 million Jefferson Southwest Parkway project. The 439-unit garden style property is slated for a 2027 completion. Floor plans include studios, one-, two- and three-bedroom units. Amenities will feature a resort-style pool, a fitness center, a dog park and a clubhouse. JPI broke ground in 2025 on Jefferson Kirbybrook, a 262-unit community also located in Grand Prairie. According to the Dallas Business Journal, the Jefferson Kirbybrook development cost is $92 million.

January 19, 2026

Finance Investment Sales Massachusetts News Northeast

Walker & Dunlop Arranges $53.6 Million Sale of Mixed-Use Asset in Cambridge, Massachusetts

by Lynn Peisner January 16, 2026

CAMBRIDGE, MASS. — Walker & Dunlop has arranged the $53.6 million sale of 929 MASS, a mixed-use, two-building property in the Central Square area of Cambridge. Walker & Dunlop represented the unnamed institutional seller in the deal with a team led by Travis D’Amato, Michael Coyne, Brendan Shields, Kevin Gleason and Maggie McFarland. Concurrently, Andrew Gnazzo and Mike Darling secured acquisition financing for buyer John M Corcoran & Co. (JMC), arranging a $37.1 million fixed-rate, interest-only Fannie Mae loan. JMC has partnered with Stars REI, a global, privately held company …

January 16, 2026

Berkadia Finance Investment Sales News Northeast Pennsylvania

Alliance Residential, PCCP Acquire Luxor Bala Cynwyd in Philadelphia

by Lynn Peisner January 16, 2026

BALA CYNWYD — Alliance Residential of Scottsdale, Arizona, and Los Angeles-based PCCP have acquired Luxor Bala Cynwyd in the township of Bala Cynwyd 7 miles north of Philadelphia. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia DC Metro arranged a $37 million acquisition loan from ACRE Capital on behalf of the joint venture buyer. The 173-unit property was developed in 2021 by Westrum Development Co. (the seller) and includes studios and one- and two-bedroom floor plans and amenities such as a pool, fitness center, yoga …

January 16, 2026

Finance New York News Northeast

Walker & Dunlop Arranges $116 ReFi for Yonkers Property

by Lynn Peisner January 15, 2026

YONKERS, N.Y. — Walker & Dunlop has arranged a $116 million Fannie Mae loan to refinance Alexander Crossing in Yonkers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno, Sean Bastian and Jack Krentzman arranged the five-year, fixed-rate loan for New York City-based Rose Associates and joint venture partner Battery Global Advisors, an asset manager headquartered in Boston. Alexander Crossing is a seven-story, 440-unit building comprised of studio through three-bedroom layouts, including 44 apartments designated affordable. Rent restrictions were not publicly available. The community is …

January 15, 2026

Affordable Housing Development Finance News South Carolina Southeast

Woodfield, FRP Secure Financing, Launch Construction of Mixed-Use Project in West Greenville

by Lynn Peisner January 13, 2026

GREENVILLE, S.C. — FRP Development Corp. and Woodfield Development are underway with construction of Woven, a mixed-use project in the Village of West Greenville. Known locally as simply The Village, this neighborhood is home to some of the city’s historic mills and has been redeveloping since the early 2000s into an arts, small-business and entertainment area. Woven, located at 1279 Pendleton St., will anchor the western edge of the neighborhood and will include 214 one-, two- and three-bedroom units offered at market and affordable rates. Specific affordable restrictions were not …

January 13, 2026

Affordable Housing Development Finance New Jersey News Northeast

CBRE Arranges $40 Million Construction Loan for New Jersey Mixed-Income Project

by Lynn Peisner January 9, 2026

MORRISTOWN, N.J. — CBRE has arranged a $40 million construction loan on behalf of a developer doing business as Lackawanna Place Morristown Urban Renewal LLC. The loan will fund the development of Morristown Station, a transit-oriented, mixed-income community adjacent to the Morristown stop on the New Jersey Transit System’s train with service to Newark, Hoboken and Manhattan. Morristown is 35 miles west of New York City. Truist Bank was the lender. The community will feature a mix of 76 market-rate and 13 affordable units and 5,111 square feet of ground-floor …

January 9, 2026

Development Finance New York News Northeast

Walker & Dunlop Arranges $867 Million for Office-to-Residential Conversion in Manhattan’s Financial District

by Lynn Peisner January 9, 2026

NEW YORK CITY — Walker & Dunlop has arranged $867 million in financing for an office-to-residential conversion project at 111 Wall Street in Lower Manhattan’s Financial District. The package consists of a $778.6 million construction loan with Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital serving as lenders. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization. Walker & Dunlop’s team was led by Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, …

January 9, 2026

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