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AVIA-Mesa
ArizonaInvestment SalesNewsWestern

Geringer Capital Sells Avia 266 in Metro Phoenix for $52.4M

by Lynn Peisner

MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy, to San Diego-based ColRich. The sales price includes the assumption of an existing HUD loan. The property was developed in 1984 and includes two pool and hot tub areas, a 24-hour fitness center, an outdoor courtyard, a clubhouse with a community kitchen, package lockers and a fenced dog park. CBRE’s Matt Pesch, Asher Gunter and Austin Groen represented Geringer in …

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Altera-Heights-Apex
DevelopmentNewsNorth CarolinaSoutheast

Wood Partners, Marcus Partners Team up for Development in Raleigh-Durham Metro

by Lynn Peisner

APEX, N.C. — Wood Partners and Marcus Partners have broken ground on Altera Heights in Apex. The 280-unit community is located at the intersection of Jenks and Wimberly roads and will be comprised of one-, two- and three-bedroom units, some of which will be income-restricted. Marcus Partners is providing an undisclosed sum of equity for the project. Altera Heights will have a freestanding clubhouse featuring a fitness center, coworking space and gaming and lounge areas. Additional amenities include a resort-style pool, outdoor fitness area, dog park and pet spa. The …

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Alicante-Las-Vegas
Investment SalesNevadaNewsWestern

CONAM Acquires 232-Unit Alicante Apartments in Las Vegas

by Lynn Peisner

LAS VEGAS — CONAM Group, through its Strategic Investments Fund IV, has acquired Alicante Apartment Homes, a 232-unit community in Las Vegas’ Spring Valley submarket. The identity of the seller was not disclosed, but Sares Regis Group acquired the asset in 2022. The gated community, built in 2001, consists of 232 one-, two- and three-bedroom units across two-story, garden-style buildings on approximately 11 acres. Amenities include a pool and hot tub, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground and package lockers.

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Overlook-at-Garson-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Atlanta Beltline Partners Break Ground on 130-Unit Affordable Community

by Lynn Peisner

ATLANTA — The Atlanta Beltline, Pennrose, Radiant Development Partners and other project stakeholders broke ground Aug. 4 on Overlook at Garson, a 130-unit affordable housing community along the Atlanta Beltline’s Northeast Trail in the Lindbergh neighborhood. The studio, one- and two-bedroom units will be rent restricted at 50, 60 and 80 percent of the area median income. The single-building community will include parking and 10,300 square feet of commercial space on approximately 3 acres. Financial partners for the Low-Income Housing Tax Credit (LIHTC) project include Atlanta Beltline Inc., Invest Atlanta, …

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Herndon-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Construction Wraps on Phase II of Atlanta Public Housing Redevelopment

by Lynn Peisner

ATLANTA — Capstone Building Corp. has completed construction of Herndon Square Phase II, a $57 million development that’s part of the larger Legacy at Herndon Square redevelopment in Atlanta’s Westside. Atlanta Housing, Hunt and Pennrose are the developers, and the architect is Thriven Design. Herndon Square Phase II spans 335,348 square feet and consists of a six-story residential building featuring 201 apartments in one-, two- and three-bedroom floor plans. Thirty-one of the units are rented at market rates while the remaining apartments are rent-capped at 30 to 80 percent of …

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12-Halsey-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and Hope Street Capital were the borrowers. The three-year, floating-rate loan was provided by AllianceBernstein. Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims led the transaction team. Completed in October 2025, 12 Halsey comprises 240 residential units, with 30 percent designated as affordable under New York’s Affordable …

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Camden-Hollywood
CaliforniaInvestment SalesNewsWestern

BlackRock Acquires 11-Property Camden Portfolio for $1.6B

by Lynn Peisner

HOUSTON — Camden Property Trust (NYSE: CPT) has sold an 11-property, 3,620-unit apartment portfolio in Southern California for approximately $1.6 billion. The buyer was a BlackRock-managed investment entity. According to JLL, which represented Camden in the sale, the portfolio’s 3,620 units equal 16.5 percent of the relevant Southern California markets’ average annual transaction volume by unit count over the past five years. JLL characterized the transaction as unusually large for markets where owners typically hold multifamily properties for long periods. The properties are located across Los Angeles County, Orange County, …

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Village-at-Lake-Forest-Jacksonville
Affordable HousingFinanceNews

JPMorganChase Commits $750B to Increase Housing Supply

by Lynn Peisner

NEW YORK CITY — JPMorganChase has announced it will deploy $750 billion to support affordable housing production through 2035. Called the American Dream Initiative, the $750 billion commitment will serve both renters and homebuyers and represents a 40 percent increase in housing funding compared with the past decade. The plan calls for increased capital deployed through available tools such as debt, equity and grants to build or preserve housing supply. JPMorganChase will partner with developers, owners, nonprofits and governments to back 1,000,000 rental units affordable to households earning no more …

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Ponte-Verde-West-Palm-Beach
FloridaInvestment SalesNewsSoutheast

Kamson Corp. Buys Florida Condo Property for $90.5M, Plans Multifamily Conversion

by Lynn Peisner

WEST PALM BEACH, FLA. — Kamson Corp. has acquired the 400-unit Ponte Verde at Palm Beach Lakes in West Palm Beach for $90.5 million. The New Jersey-based buyer plans to convert the property from condos to multifamily. IPA’s Luke Wickham, Shelton Granade and Justin Basquill and Marcus & Millichap’s Evan Kristol brokered the sale. According to the brokerage team, condo conversions are increasing  in Florida as older properties face rising maintenance costs, mandatory structural reserve funding and evolving regulatory requirements. Ponte Verde at Palm Beach Lakes is a gated, two- …

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Terramonte-at-Foothill-Pomona
CaliforniaInvestment SalesNewsWestern

Inland Empire Asset Trades for $36.7M

by Lynn Peisner

POMONA, CALIF. — Positive Investments has sold Terramonte at Foothill in Pomona to Sack Capital Partners for $36.7 million. IPA’s Kevin Green, Chris Zorbas, Joseph Grabiec, Alexander Garcia Jr. and Greg Harris arranged the Inland Empire deal. The 138-unit asset was built in 1963 on 9 acres and was renovated between 2012 and 2023. Terramonte at Foothill has two pools, sun decks, a hot tub, fitness center, barbecue pavilion, coworking space and garages. The unit mix includes studios, one-, two- and three-bedrooms with an average unit size of 910 square …

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