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Affordable HousingDevelopmentInvestment SalesMassachusettsNewsNortheast

HVPG Acquires, Will Rehab Two Boston Properties for $52.5M

by Lynn Peisner

BOSTON — New York City-based affordable housing firm Hudson Valley Property Group (HVPG) has acquired Boston Bay and Hope Bay, two adjacent affordable housing communities in the Dorchester neighborhood of Boston. The deal marks HVPG’s first in Massachusetts. The properties, located at 205 Magnolia St. (Boston Bay) and 5 Norwell St. (Hope Bay), consist of 20 buildings across two sites originally constructed between 1890 and 1920. Total project costs related to this preservation project are approximately $52.5 million, funded with a Fannie Mae loan provided by KeyBank. HVPG is planning …

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Oxbow-Hill-Country-Boerne
Investment SalesNewsTexas

Oxbow Hill Country in Boerne, Texas, Sells to Steadfast Cos.

by Lynn Peisner

BOERNE, TEXAS — Brixton Capital, based out of Solana Beach, California, has sold Oxbow Hill Country in Boerne, a city 31 miles northwest of San Antonio. The buyer was Irvine, California-based Steadfast Cos. The 172-unit property was built in 2003 and features 132,736 rentable square feet across 6.8 acres. The garden-style community includes nine buildings with a unit mix ranging from one- to three-bedroom floor plans. The property was 92 percent occupied at the time of the sale. More than 80 percent of units remain in original condition since construction. …

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24-Webster-Avenue-Somerville
Affordable HousingDevelopmentMassachusettsNewsNortheast

MassHousing and Partners Close Financing for 43-Unit Affordable Housing Development in Somerville, Massachusetts

by Lynn Peisner

SOMERVILLE, MASS. — Affordable housing developer Just a Start and the Massachusetts Housing Finance Agency (MassHousing) have closed on financing for 24 Webster Avenue in Union Square. The project will include 43 units that will be constructed on a site that is currently a vacant commercial lot. The units will be reserved households earning between 30 and 60 percent of area median income. The general contractor is Dellbrook | JKS, the architect is ICON Architecture Inc., and the management agent will be Maloney Properties. New Seasons Development LLC is a …

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Villas-Litchfield-Phoenix
ArizonaBuild-to-RentFinanceNewsWestern

JLL Arranges $64.3M Refinancing for JV Owners of Two Phoenix BTR Projects

by Lynn Peisner

PHOENIX — JLL Capital Markets has arranged two refinancing loans totaling approximately $64.3 million on behalf of Chicago-based Blue Vista Capital Management and Palm Desert, California-based Family Development. The partners own Villas Litchfield (153 units) and Villas Goodyear (151 units), two newly constructed build-to-rent communities in Phoenix’s West Valley. ORIX Corp. was the lender. The loans — $33.1 million for the Litchfield property and $31.3 million for the Goodyear community — will serve as construction takeout financing for the two assets, which both opened in 2025. Greystar is the property manager at …

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DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

Tavros Acquires Undeveloped Full-Block Manhattan Site for 600-Unit Project

by Lynn Peisner

NEW YORK CITY — Tavros, a locally based private investor and developer, has acquired 250 Water Street, a 1-acre site in Manhattan’s Seaport neighborhood for $143 million. Tavros is planning to build a ground-up, 600-unit multifamily project on the land. Twenty-five percent of the units will be offered at to-be-announced affordable monthly rents. The community will be anchored by four floors of retail. Fogarty Finger is the architect. A construction timeline was not disclosed. JLL represented the undisclosed seller in the deal and advised Tavros on a pre-development loan provided …

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3600-Peachtree-Atlanta
DevelopmentGeorgiaNewsSoutheast

Crescent Communities to Develop Office Tower and Multifamily in Buckhead Atlanta Project

by Lynn Peisner

ATLANTA — Crescent Communities has announced plans to develop 3600 Peachtree, a mixed-use project in the Buckhead neighborhood of Atlanta. The development plans call for a 375,000-square-foot, 21-story Class A office tower complemented by a 300-unit NOVEL by Crescent Communities luxury multifamily component. The developer also is planning for street-level food and beverage tenants and community-wide amenities that will be anchored by approximately 10,000 square feet of shared indoor amenities with direct access to an elevated 19,000-square-foot landscaped outdoor terrace overlooking Buckhead. Project partners include HSR Development Services (development), Partners …

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Investment SalesNewsSoutheastVirginia

Berkadia Arranges Metro Richmond Sale

by Lynn Peisner

NORTH CHESTERFIELD, VA. — Dominion Realty Partners has sold Boulders Lakeview, a 212-unit property in North Chesterfield, approximately 11 miles west of Richmond, Virginia. Drew White, Carter Wood, Cole Carns and Matt Straughan of Berkadia Richmond arranged the transaction on behalf of the seller. American Landmark of Tampa, Florida, acquired the property for an undisclosed sum. Located at 1501 Boulder Spring Terrace, Boulders Lakeview is a 2023-built, garden-style property offering a mix of one- and two-bedroom units. Amenities include a resort-style pool with a firepit lounge and cabanas, a clubhouse, …

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stone-ridge-texas-city
Investment SalesNewsTexas

Eastham Capital, Mosaic Residential Sell Two Metro Houston Assets

by Lynn Peisner

TEXAS CITY, TEXAS — Eastham Capital has sold two communities in Texas City, Veranda Apartments and Stone Ridge Apartments, to an undisclosed buyer for undisclosed sums. Texas City is about 41 miles southeast of Houston. Veranda Apartments and Stone Ridge Apartments were acquired in 2018 by Eastham Capital as a joint venture with Mosaic Residential. The investments were identified as value-add opportunities. During the hold period, the team executed a capital improvement and operational enhancement program that included interior unit renovations, exterior upgrades and amenity enhancements paired with improved property …

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Arrowhead-Apartments-Palatine
IllinoisInvestment SalesMidwestNews

ACG Acquires Arrowhead Apartments in Chicago Suburb of Palatine

by Lynn Peisner

PALATINE, ILL. — Locally based ARTISAN Capital Group (ACG) has acquired Arrowhead Apartments, a 200-unit garden-style property in Palatine, 30 miles northwest of Chicago. ACG partnered with Boca Raton, Florida-based Eastham Capital on the transaction, marking the firms’ fifth joint acquisition. The seller, represented by Marcus & Millichap’s Chicago Oak Brook office, was a joint venture with Hispanic Housing Development Corp. as the managing partner. The community is situated on approximately 11 acres and consists of nine two- and three-story buildings with units offered as a mix of one-, two- …

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162-E-36th-New-York
DevelopmentFinanceNew YorkNewsNortheast

Developers of High-Rise in Manhattan’s Murray Hill Secure $115M Refinancing

by Lynn Peisner

NEW YORK CITY — Affinius Capital has provided a $115 million refinancing loan to Ranco Capital and the Gilardian Family, the developers of a 22-story multifamily project in Manhattan’s Murray Hill neighborhood. The borrower will use the financing to complete construction and stabilize occupancy. Henry Bodek of Galaxy Capital arranged the loan. The building is located at 162 East 36th St. and is comprised of 160 studio, one- and two-bedroom units and 3,700 square feet of ground-floor retail space. Amenities feature a rooftop lounge, a fitness center and sauna, coworking …

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