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Mosa-Elk-Grove
Affordable HousingCaliforniaInvestment SalesNewsWestern

HVPG Buys Metro Sacramento Affordable Housing Property for $83.6M

by Lynn Peisner

ELK GROVE, CALIF. — Hudson Valley Property Group (HVPG) has acquired Mosa Apartment Homes, a 387-unit affordable housing community in Elk Grove, 14 miles south of Sacramento, for $83.6 million. Completed in 2025, Mosa is a 14-building, garden-style community offering a mix of unit types serving a broad range of household income levels. The property is structured across three Low-Income Housing Tax Credit (LIHTC) partnerships, each subject to its own regulatory agreement, that cover 100 percent of units, with HVPG acquiring the general partner interests in all three. Approximately 8 …

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Reserve-at-Spring-Creek-Richardson
Investment SalesNewsTexas

MG Properties Buys Reserve at Spring Creek in Richardson, Texas

by Lynn Peisner

RICHARDSON, TEXAS — Institutional Property Advisors (IPA) has arranged the sale of Reserve at Spring Creek, a 458-unit community in Richardson, 17 miles northeast of Dallas. IPA’s Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Jack Windham represented the seller, an affiliate of Lone Star Funds, and procured the buyer, MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed amount of financing. Developed in 2019 on 17 acres, Reserve at Spring Creek has a fitness center, clubhouse, resort-style pool and a business …

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East-Peoria-Redevelopment
DevelopmentFinanceIllinoisInvestment SalesMidwestNews

Eastern Union Arranges $15.9M Loan for Adaptive Reuse Project in East Peoria, Illinois

by Lynn Peisner

EAST PEORIA, ILL. — Eastern Union has arranged a $15.9 million acquisition and construction loan for the conversion of a former assisted living facility into a 246-unit multifamily property located at 500 Centennial Drive in East Peoria. The financing was arranged by Joe Siegfried of Eastern Union. The borrower was The H&A Group of South Bend, Indiana, a real estate investment and development company focused on value-add and adaptive reuse projects across multiple asset classes. The loan was provided by Genesis Capital, which is based in Sherman Oaks, California. Originally …

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Alliance-Residential-Carmina-Plant-City
DevelopmentFloridaNewsOperationsSoutheast

Alliance Residential Opens The Carmina in Plant City, Florida

by Lynn Peisner

PLANT CITY, FLA. — Alliance Residential Co. has opened The Carmina, a 360-unit community at 3202 Elsanta St. in Plant City. The development is comprised of one- and two-bedroom units and such amenities as a resort-style pool, 24-hour package locker system with cold storage, fitness center, business center with coworking space, a dog park and a clubroom with TV, pool table and entertainment kitchen. Residents will also be privy to a service called Refresh Retreat, which provides rotating weekend amenities, such as towel service, a sunscreen and aloe bar or …

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Wolf-Point-West-Chicago
FinanceIllinoisMidwestNews

JLL Arranges $141.8M Refinancing for Wolf Point West in Chicago

by Lynn Peisner

CHICAGO — JLL has arranged a $141.8 million refinancing loan for Wolf Point West, a 509-unit, 48-story tower in Chicago’s River North neighborhood. The borrower/owner is Hines in partnership with AFL-CIO Building Investment Trust, Magellan Development Group and the Joseph P. Kennedy Trust. New York Life Insurance Co. was the lender for the three-year, floating-rate loan. JLL’s team was led by Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang. Wolf Point West opened in 2016 and is a LEED Silver-certified building with 24-hour door staff, an outdoor pool with …

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Hunters-Branch-Fairfax
DevelopmentNewsNortheastVirginiaWashington, D.C.

Insight Property Groups Starts $174M Apartment Phase of Northern Virginia Office Redevelopment

by Lynn Peisner

FAIRFAX, VA. — Locally based Insight Property Group has begun construction of a 452-unit apartment community on the site of the Hunters Branch office complex in Fairfax, 20 miles west of Washington, D.C. The Hunters Branch site is home to two vacant office towers totaling 400,000 square feet. Insight acquired the site for $28.9 million in a real estate owned (REO) transaction in November 2024. In March of this year, Insight sold a portion of the Hunters Branch property to Toll Brothers for $17 million. Toll Brothers will develop 76 …

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1000-Ocean-Parkway-Brooklyn
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Broker $23.5M Sale of Brooklyn Property

by Lynn Peisner

NEW YORK CITY — Marcus & Millichap has arranged the sale of 1000 Ocean Parkway, a 122-unit apartment building in the Midwood neighborhood of Brooklyn. The property sold for $23.5 million, or $192,623 per unit. Marcus & Millichap’s Matt Fotis represented the seller, the Cohen family, and procured the buyer, David Brecher, chief executive of Brooklyn-based FM Home Loans. The property is located on the corner of Ocean Parkway and Avenue J. Built in 1964 and renovated in 2021, 1000 Ocean Parkway has two elevators, a doorman, laundry facilities and …

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ConnecticutFinanceNewsNortheast

Newmark Arranges $115.6M Refinancing for Two Southeastern Connecticut Assets

by Lynn Peisner

EAST LYME, CONN. — Newmark has arranged a $115.6 million Freddie Mac loan to refinance The Cove at Gateway Commons and Sound at Gateway, two communities less than half a mile apart in East Lyme along Connecticut’s southeastern shore. Newmark’s Avi Kozlowski led the transaction. Sound at Gateway Commons offers garden-style studio- to three-bedroom units, while The Cove at Gateway Commons consists of one-, two- and three-bedroom apartments and townhomes with attached garages.

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Convent-Ave-NYC
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Haussmann Secures $40.8M Loan, Breaks Ground on Manhattan Mixed-Income Development

by Lynn Peisner

NEW YORK CITY — Haussmann Development has obtained a construction loan for approximately $40.8 million and broken ground on an 84-unit building at 16-20 Convent Ave. in North Manhattan. Affinius Capital provided the construction loan in partnership with Axonic Capital. The building will include ground-floor community space that will serve as the third location of Little Legacy Village, the childcare practice that Haussmann co-founded. Completion of the ground-up Opportunity Zone project is slated for early 2028. The project will include an unspecified number of permanently affordable units. It is being …

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Newnan-Crossing-Newnan
DevelopmentGeorgiaNewsSoutheast

Wood Partners Breaks Ground on Alta Newnan Crossing in Metro Atlanta

by Lynn Peisner

NEWNAN, GA. — Wood Partners has broken ground on Alta Newnan Crossing in Newnan, 40 miles southwest of Atlanta. Alta Newnan Crossing features 274 apartment units in a mix of one-, two- and three-bedroom layouts as well as seven townhomes, each with three bedrooms, two bathrooms and a two-car garage. Amenities include a clubhouse, fitness room, package room, coworking space, a courtyard and resort-style pool. The site will also provide connectivity to the LINC Trail, Newnan’s multi-use path system. Completion is slated for fall 2027.

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