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Elevate-at-Heubner-Grove-San-Antonio
NewsOperationsTexas

Viking Capital Taps Lynd to Manage Huebner Grove in San Antonio

by Lynn Peisner

SAN ANTONIO — Locally based Lynd Management Group, the property management division of The Lynd Group, has been selected to manage Elevate at Huebner Grove in Northwest San Antonio. The 210-unit property offers one- and two-bedroom apartments featuring quartz or granite countertops, stainless steel appliances, fireplaces and private patios or balconies overlooking the community’s pool or garden grounds. In addition to the resort-style pool, amenities include grills, picnic areas, a fire pit, pickleball court, soccer practice area, 24-hour fitness center, coffee bar, dog park and on-site laundry facilities. Originally constructed …

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Everly-Morrison-Ranch-Gilbert
ArizonaFinanceNewsWestern

PCCP Provides $51.8M Refinancing Loan for Everly at Morrison Ranch in Metro Phoenix

by Lynn Peisner

GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinancing of Everly at Morrison Ranch in Gilbert. Located at 4353 E. Elliot Road, Everly at Morrison Ranch was built in 2025. The 236-unit community is 97 percent leased and is within Morrison Ranch, a master-planned neighborhood in Gilbert. Units are offered as one-, two- or three-bedroom floor plans complemented by amenities such as a resort-style pool and hot tub, private workspaces, electric vehicle charging stations, …

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Brett-Warner-SJC
Company NewsNewsPeople News

SJC Ventures Hires Brett Warner as CFO

by Lynn Peisner

ATLANTA — SJC Ventures, an Atlanta-based mixed-use, grocery-anchored retail and multifamily development firm, has hired Brett Warner as chief financial officer. Warner joins the company from Related Ross in West Palm Beach, Florida, where, as vice president of finance, he led financial planning and performance management across a $5 billion portfolio of multifamily, retail, office and mixed-use assets. Related Ross spun off from Related Cos. in July 2024. Founder Stephen Ross stepped down from day-to-day management to launch and chair the new venture, which primarily took over Related Cos.’ Southeast …

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ALORA-Kissimmee
Affordable HousingDevelopmentFloridaNewsSoutheast

The NRP Group Breaks Ground on Florida Affordable Development Alora Lofts

by Lynn Peisner

KISSIMMEE, FLA. — The NRP Group has secured financing and begun construction of Alora Lofts, an 88-unit affordable housing community in Kissimmee, 18 miles south of Orlando. Residences will be rent restricted at 30 and 70 percent of area median income. Floor plans are offered as one- to three-bedroom layouts complemented by amenities that include a fitness center, resort-style pool, multipurpose room, community kitchen, a grill area and a playground. FK Architecture is the project architect. Funding sources include the Florida Housing Finance Corp., which provided tax credits, tax-exempt bonds …

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Pearl-on-the-River-Deerfield-Beach
DevelopmentFloridaNewsSoutheast

Morgan Breaks Ground on Pearl on the River in Deerfield Beach, Florida

by Lynn Peisner

DEERFIELD BEACH, FLA. — Morgan and Compatriot Capital have broken ground on Pearl on the River, a luxury waterfront community at 451 NE River Drive in Deerfield Beach. Situated along the Hillsboro River in The Cove neighborhood, the project will be comprised of 320 studio, one-, two- and three-bedroom units and a resort-style pool, grill area, dog park, dog wash, car wash, bike storage and a fitness center. A resident-only marina with 13 private boat slips will provide direct access to the Hillsboro River. The development team also will build …

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8-Carlisle-Manhattan
Company NewsDevelopmentFinanceNewsNortheastOperations

JLL Arranges $617M in Financing for Grubb Properties

by Lynn Peisner

NEW YORK CITY AND CHARLOTTE, N.C. — JLL has arranged $617 million in financing for Charlotte, North Carolina-based Grubb Properties, supporting the formation of a new real estate investment trust and the completion of a 64-story apartment tower in Manhattan’s Financial District. JLL’s mergers and acquisitions and corporate advisory group first advised on the merger of several legacy Grubb Properties funds and their rebranding as Link Apartments REIT. The approximately $1.9 billion Grubb Properties-managed REIT has a portfolio of 45 properties, including more than 5,600 multifamily units. In conjunction with …

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The-Cedars-Castro-Valley
BerkadiaCaliforniaInvestment SalesNewsWestern

Berkadia Arranges $35.6M Bay Area Trade

by Lynn Peisner

CASTRO VALLEY, CALIF. — Felson Cos. has sold a two-property, 135-unit portfolio in Castro Valley to Prime Residential for approximately $35.6 million. Jason Parr, Scott MacDonald and John Hansen of Berkadia San Francisco arranged the sale on behalf of Hayward, California-based Felson, the original developer and longtime owner of both communities. Clay Akiwenzie and Hank Workman also with Berkadia San Francisco arranged a seven-year fixed-rate Freddie Mac loan with full-term interest only on behalf of San Francisco-based Prime Residential. Located approximately 27 miles east of San Francisco, the neighboring properties …

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NOVEL-Norterra-Phoenix
ArizonaDevelopmentNewsWestern

Crescent Communities Closes on Land for NOVEL Norterra in Northern Phoenix

by Lynn Peisner

PHOENIX — Crescent Communities has acquired land and begun construction of NOVEL Norterra, a four-story property on an 8.5-acre site in northern Phoenix. The 248-unit development is part of the 600-acre Norterra mixed-use neighborhood. Amenities include a clubhouse, 1,822-square-foot pool and hot tub area with cabanas and fire features, a pickleball court, dog park, outdoor cooking, dining and gathering areas as well as pedestrian pathways. Development partners include NEC Capital Solutions Limited, Sumitomo Mitsui Trust Panasonic Finance Co., additional Japanese investment and UMB Financial Corp. First move-ins are estimated to …

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Palm-Court-Los-Angeles
CaliforniaInvestment SalesNewsWestern

Prime Residential Buys Palm Court in Los Angeles for $51.3M

by Lynn Peisner

LOS ANGELES — San Francisco-based Prime Residential has acquired Palm Court Apartments in the Miracle Mile neighborhood of Los Angeles for approximately $51.3 million. The seller was a private investor. The 132-unit property was built in 1988 and consists of one-, two- and three-bedroom floor plans as well as a heated pool and a hot tub, fitness center, a rooftop deck and laundry facilities on each floor. Marcus & Millichap represented both parties. Jeff Louks, Gayle Factor and Elliot Sabag represented the seller while Matt Ziegler, Louks, Factor and Sabag …

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410-N-Elizabeth-Chicago
DevelopmentFinanceIllinoisMidwestNews

Joint Venture Closes on Financing for Two-Tower Mixed-Income Development in Chicago

by Lynn Peisner

CHICAGO — Tree Street Group, along with development partners Magellan Development Group and Mark Goodman & Associates, has closed on an undisclosed amount of construction financing obtained through Bank OZK, Beach Point Capital and Circle Property Partners for 410 N. Elizabeth, a 33-story high-rise in Chicago’s Fulton Market neighborhood. It will be the first phase of a two-tower, mixed-use development. 410 N. Elizabeth will include 383 units, with 77 apartments set aside as affordable. Rent restrictions were not disclosed. Upon completion of both phases, the development will comprise about 724 …

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