News

Interstate Equities Buys Bay Area’s The Dylan for $83.5M

by Lynn Peisner October 14, 2026

HERCULES, CALIF. — Hercules Development Partners has sold The Dylan in Hercules, 24 miles north of San Francisco, to Interstate Equities Corp. for $83.5 million. JLL arranged the sale on behalf of the seller as well as a $54.3 million Freddie Mac acquisition loan for Los Altos, California-based Interstate Equities. Completed in 2022, The Dylan is a five-story community comprising 217 market-rate units and 15 affordable units. Rent restrictions were not disclosed. The property features studios, one- and two-bedrooms and a lounge with a community kitchen; a sports lounge with …

October 14, 2026

Finance News Southeast Virginia

Capital Square Lands $86.5M Refinancing for Richmond Development

by Lynn Peisner October 14, 2026

RICHMOND, VA. — Capital Square has obtained an $86.5 million bridge refinancing loan from an unnamed lender for Chasen, a 352-unit property completed in phases from 2025 to 2026 in the Scott’s Addition area of Richmond. Capital Square broke ground on the project in April 2023. Walker & Dunlop’s Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris and Jared Diedrich arranged the financing. Chasen consists of three six- and seven-story residential buildings on about 2.5 acres. The community offers studio, one-, two- and three-bedroom units, 5,000 square feet …

October 14, 2026

Berkadia Investment Sales Midwest News Wisconsin

Berkadia Arranges Sale of Tivoli Green in Metro Milwaukee

by Lynn Peisner October 14, 2026

MOUNT PLEASANT — Berkadia has arranged the sale of and financing for Tivoli Green, a 458-unit luxury community in Mount Pleasant, 27 miles south of Milwaukee. The sales price was not disclosed, but Berkadia described the transaction as “one of the largest single-asset multifamily sales in the state’s history.” Wangard Partners was the seller, and the buyer is Illinois-based Santefort Real Estate Group. Wangard has been retained to provide third-party management services for the community. Pete Evans of Berkadia Chicago and Richard Evans of Berkadia Milwaukee led the transaction on …

October 14, 2026

Affordable Housing Development Finance News Northeast Washington, D.C.

Joint Venture Obtains $40M Loan for Office-to-Residential Conversion in Washington, D.C.’s West End

by Lynn Peisner October 13, 2026

WASHINGTON, D.C. — Jemal Real Estate Strategies (JRES), JLS Capital and DivcoWest have formed a joint venture to convert a 342,000-square-foot office building in D.C.’s West End into approximately 323 apartments, including about 36 affordable housing units. Madison Realty Capital has provided a $40 million loan to the development team to support the property’s acquisition and predevelopment costs. FILLAT+ Architecture is the architect, and CBG Building Co. is general contractor. JRES is a private investment platform founded by Norman Jemal, who is senior managing principal at Washington, D.C.-based Douglas Development, …

October 13, 2026

Berkadia Finance Florida Investment Sales News Southeast

Berkadia Arranges Acquisition and ReFi Loans Totaling $36.7M for Three Florida Deals

by Lynn Peisner October 13, 2026

FORT LAUDERDALE, FLA. — Berkadia has arranged three loans for Fort Lauderdale-based Rental Asset Management (RAM) for three Florida properties. RAM obtained a $10.3 million acquisition loan for RAM Four Hialeah, a 54-unit community in Hialeah that was completed in August. The firm also has refinanced two assets: The Devonshire (36) units in Miami Springs with a $3.24 million Freddie Mac loan and Summer Lake Villas in New Port Richey with a $23.2 million Freddie Mac loan. The Devonshire was developed in 1964, and Summer Lake Villas was built in …

October 13, 2026

Affordable Housing Development Finance News Southeast Virginia

Merchants Capital Arranges $97.8M for Renovation of Historic Virginia Affordable Housing Property

by Lynn Peisner October 13, 2026

NEWPORT NEWS, VA. — Seattle-based affordable housing developer Vitus has begun a $70 million rehabilitation of the 491-unit Stuart Gardens community in Newport News. Merchants Capital arranged $97.8 million in permanent and bridge financing for the project, including a $62.8 million HUD-insured loan and $35 million in equity bridge financing. Vitus will modernize the residences, which were constructed in 1941 and are listed on the Virginia Landmarks Register and the National Register of Historic Places. The community originally served as defense housing for military personnel and wartime workers. According to …

October 13, 2026

Midwest Minnesota News

Northmarq Arranges $50M Refinancing for Ardor on the Bluffs in Twin Cities Metro

by Lynn Peisner October 12, 2026

BLOOMINGTON, MINN. — Northmarq has arranged a $50 million bridge refinancing loan on behalf of Endres Holdings, owner of the 235-unit Ardor on the Bluffs located at 3701 American Blvd. E. in Bloomington, 11 miles south of Minneapolis. Dan Trebil headed up Northmarq’s Minneapolis-based debt and equity team. The lender was an unnamed insurance company. Completed in December 2024, Ardor on the Bluffs is a six-story luxury property that comprises studios, one- and two-bedroom units along with several lounges and party rooms, a pool, hot tub, fitness center and underground …

October 12, 2026

Investment Sales News Texas

Haven Housing Acquires The Evergrove at Crystal Village in Austin Suburb

by Lynn Peisner October 12, 2026

LEANDER, TEXAS — Haven Housing, the multifamily and affordable housing division of Los Angeles-based commercial real estate investor BH Properties, has acquired The Evergrove at Crystal Village, a 346-unit garden-style property in the Austin suburb of Leander. The seller and sales price were not disclosed. Located at 2090 Raider Way, The Evergrove was completed in 2024 and is located within Crystal Village, a master-planned, mixed-use development. The property was 92 percent occupied as of September. Situated on 15 acres, The Evergrove comprises a mix of one-, two- and three-bedroom apartments along …

October 12, 2026

Investment Sales New Jersey News Northeast

Pantzer Buys Transit-Oriented Community in New York City Metro for $79M

by Lynn Peisner October 12, 2026

WOODBRIDGE, N.J. — Prism Capital Partners and Northwestern Mutual have sold Avenue & Green in Woodbridge to Pantzer for $79 million. The property has been renamed The Point Woodbridge. JLL’s Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty, Austin Pierce and CJ Anania arranged the sale on behalf of the seller. Avenue & Green was completed in 2021 and comprises 232 units, a resort-style pool, courtyard, grills and outdoor dining areas, fire pit, resident lounge, billiards, shuffleboard, a fitness center, demonstration kitchen, bike storage, coworking space and parking. The property …

October 12, 2026

Development Investment Sales News North Carolina Southeast

Alliance Residential Acquires Land for New Development in Charlotte

by Lynn Peisner October 9, 2026

CHARLOTTE, N.C.— Alliance Residential Co. has acquired a 3.4-acre parcel of land at 1306 Berryhill Road in Charlotte’s Enderly Park neighborhood. The Scottsdale, Arizona-based developer will construct Broadstone Enderly Park on the site, a 336-unit community slated for completion in 2028. Cline Design Associates is the architect, The John R. McAdams Co. is civil engineer, and MAD Studio Interiors provided interior design services. Units will range from 600 to 1,280 square feet complemented by such amenities as a clubhouse with a leasing center, fitness center, club room, game room and …

October 9, 2026

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