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Jessie-Street-Terrace-Santa-Cruz
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing and Partners Complete Jessie Street Terrace in Santa Cruz, California

by Lynn Peisner

SANTA CRUZ, CALIF. — MidPen Housing has completed and opened Jessie Street Terrace, an affordable housing redevelopment in Santa Cruz. Formerly a 14-room hotel, Jessie Street is now comprised of 50 studio and one-bedroom permanent supportive housing units reserved for tenants earning between 20 and 50 percent of area median income. About half the apartments are reserved for veterans, while others are set aside for people who have previously experienced homelessness. MidPen Property Management manages the property. Through partnerships with Palo Alto Veterans Affairs and the County of Santa Cruz …

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Alderwood-Ukiah
CaliforniaInvestment SalesNewsWestern

Northmarq Arranges $23.5M Northern California Sale

by Lynn Peisner

UKIAH, CALIF. — Northmarq has brokered the $23.5 million sale of a two-property portfolio in Ukiah, 115 miles north of San Francisco. The properties are Sierra Sunset Village (68 units) and Alderwood Apartments (53 units). Zach LeBeouf and Anthony Pappageorge led Northmarq’s Walnut Creek Investment Sales team, which represented the seller, Capital Investors LLC. The name of the buyer was not disclosed. Sierra Sunset Village features predominantly two-bedroom apartments and a pool, fitness center and outdoor picnic area. Alderwood Apartments offers a mix of two- and three-bedroom units along with …

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ACP-Wilton
Build-to-RentInvestment SalesNew YorkNewsNortheast

ACP Arranges Sale of Ridgeview Townhomes & Apartments in New York’s Capital Region

by Lynn Peisner

WILTON, N.Y. — Adirondack Capital Partners (ACP) has arranged the sale of Ridgeview Townhomes & Apartments, a 96-unit community in Wilton. Michael Hunter Coghill, Brittany Feinberg, Chad Sinsheimer and Jacob Brenner of ACP represented the seller, an LLC, and procured the buyer, Yakar Partners. A sales price was not disclosed. The property, built in 2014 on approximately 9 acres, includes a mix of apartment and townhome residences as well as five ground-floor commercial spaces. Units feature attached garages and private entrances.

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Sugarmont-SLC
Company NewsNews

Independence Realty Trust, Centerspace Agree to $8.1B Merger

by Lynn Peisner

PHILADELPHIA — Independence Realty Trust (NYSE: IRT) and Centerspace (NYSE: CSR) announced Sept. 9 an agreement to merge in an all-stock transaction. The combined company will retain the Independence Realty Trust name and NYSE ticker IRT. The transaction is expected to close as early as the end of 2026, at which point, Centerspace shares will cease trading under the CSR ticker. The combined REIT is expected to have a market value of about $5 billion and an enterprise value of roughly $8.1 billion. The combined REIT will be headquartered at …

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East-Howe-Steps-Seattle
Investment SalesNewsWashingtonWestern

IPA Arranges $35.1M Sale of East Howe Steps in Seattle

by Lynn Peisner

SEATTLE — Bender Equities has sold East Howe Steps in Seattle’s Eastlake neighborhood for approximately $35.1 million. The buyer was Sequel Investment Co. and Evergreen Gavekal. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented Bender. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing. Completed in 2016, East Howe Steps is a two-building, four-story property with a rooftop deck, landscaped courtyards, a fitness center, controlled access parking, bike storage and on-site paddleboard and kayak …

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Crawford-Commons-Clifton
Affordable HousingColoradoDevelopmentFinanceNewsWestern

Developers Awarded Tax Credits for Colorado Affordable Housing Project

by Lynn Peisner

CLIFTON, COLO. — Housing Resources of Western Colorado (HRWC) and Evergreen Real Estate Group have been awarded 9 percent Low-Income Housing Tax Credits (LIHTC) for the development of Crawford Commons Apartments in Clifton, about 7 miles east of Grand Junction, Colorado. The 60-unit affordable housing community will provide townhome-style units to renters earning between 30 and 80 percent of area median income. LIHTC investors and syndicators were not announced. Holst Architecture is the architect, and Shaw Construction will serve as general contractor. The community will be built on land donated …

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The-Triangle-Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

DFRE Begins Construction of $35M Workforce Project in Miami

by Lynn Peisner

MIAMI — Locally based developer DFRE has broken ground on The Triangle, a $35 million workforce housing project in Miami’s Health District. The community will include 112 units reserved for households earning up to 120 percent of area median income. Amenities at the eight-story project include a 10,000-square-foot pool terrace and a 3,500-square-foot fitness center featuring a health food and juice bar, complemented by private fitness studios and dedicated cardio rooms across the second through fourth levels. Bike storage a clubroom, package room and parking round out the amenity offerings. …

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Park24-Nashville
Affordable HousingDevelopmentNewsSoutheastTennessee

Holladay Opens 140-Unit Affordable Housing Community Park24 in Nashville

by Lynn Peisner

NASHVILLE, TENN. — Holladay Ventures, in partnership with the Urban League of Middle Tennessee (ULMT), has completed and opened Park24, a 140-unit, mixed-use affordable housing community at 660 Joseph Ave. in the McFerrin Park neighborhood of East Nashville. Units are reserved for renters earning 30 to 80 percent of area median income. The project was 81 percent leased as of Sept. 1. Financing partners included Amazon Housing Fund, U.S. Bancorp Impact Finance and Cedar Rapids Bank and Trust. The project also was backed by a $2 million grant from the …

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Juniper-Dallas
DevelopmentLeasing & MarketingNewsTexas

Larkspur Begins Leasing Juniper in Dallas’ Expo Park

by Lynn Peisner

DALLAS — Larkspur Capital has begun pre-leasing at Juniper, a 219-unit community in Dallas’ Expo Park neighborhood. Located at 4003 Commerce St., the seven-story Juniper was designed by Dallas-based architecture firm Corgan. OHT Partners was the general contractor. The property features studios and one- and two-bedroom apartments as well as penthouses, townhomes and ground-floor retail. Amenities include a private half-acre park, coworking spaces, indoor-outdoor clubhouse, fitness center, pickleball court and a third-floor resort-style pool deck with views of the downtown Dallas skyline. Juniper is across the street from the Willow, …

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51-South-White-Plains
Investment SalesNew YorkNewsNortheast

RMS Cos. Sells 51 South in White Plains for $64.3M

by Lynn Peisner

WHITE PLAINS, N.Y. — RMS Cos. has sold 51 South Apartments in White Plains to Los Angeles-based CIM Group for $64.3 million. CBRE’s Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer and Eric Greenberg represented RMS, the Stamford, Connecticut-based original developer, in the transaction. Completed in 2025, 51 South is comprised of 134 units along with a resort-style pool with cabanas, indoor and outdoor lounges, a fitness center with spin and yoga studios, billiards, shuffleboard and coworking areas.

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