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jll-194-e-2nd-st-nyc
FinanceNew YorkNewsNortheast

JLL Arranges $44.5M ReFi Following Benchmark’s East Village Renovation

by Lynn Peisner

NEW YORK CITY — JLL has arranged a $44.5 million refinancing loan for locally based Benchmark Realty Group’s 61-unit property at 194 East 2nd St. in Manhattan’s East Village. Citi was the lender, while Michael Zaremski, John Flynn and Clayton Ross headed up JLL’s team. Located at the corner of East 2nd Street and Avenue B, the six-story property includes 15,450 square feet of ground-floor retail space, 10,000 of which is anchored by Duane Reade under a long-term lease. Benchmark acquired the property in 2024 and has since completed a …

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Renley-Arlington
DevelopmentNewsNortheastVirginiaWashington, D.C.

Gilbane Starts Construction of Office-to-Residential Project in Metro D.C.

by Lynn Peisner

ARLINGTON, VA. — Gilbane Development has begun construction of Renley, an office-to-residential conversion at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Gilbane acquired the building, developed in 2000, in March 2025. The community will include 94 market-rate units in one-, two- or three-bedroom floor plans. Renley represents one of the first projects to take advantage of Arlington County’s updated adaptive reuse policy, adopted in November 2024, which lowered costs and removed regulatory hurdles for developers. The redevelopment plan will preserve the building’s exterior façade. Inside, amenities will include tenant storage …

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Reserve-at-Three-Ridges-Knoxville
Build-to-RentDevelopmentLeasing & MarketingNewsOperationsSoutheastTennessee

ARK Homes for Rent Begins Pre-Leasing at Knoxville BTR Project

by Lynn Peisner

KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing at The Reserve at Three Ridges in Northeast Knoxville. The 126-unit community is comprised of two-story townhomes in three- and four-bedroom floor plans with attached garages, open layouts, granite countertops and stainless steel appliances in kitchens, smart home features and walk-in closets. Amenities include a clubhouse, pool, playground and pet park. A construction completion date was not disclosed.

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Beach-Blvd-Jacksonville-Beach
Affordable HousingDevelopmentFloridaNewsSoutheast

Trevato Breaks Ground on $120M Mixed-Use Development in Jacksonville Beach

by Lynn Peisner

JACKSONVILLE BEACH, FLA. — Locally based Trevato Development Group has broken ground on a $120 million mixed-use development at the former Adventure Landing site in Jacksonville Beach. Adventure Landing was an amusement and water park that opened in the 1990s and operated for roughly 30 years. Trevato acquired the property in 2021. The project, which has not yet officially been named, will include 415 units of market-rate and workforce housing, 1,800 square feet of ground-level retail space and a viewing platform overlooking the Intracoastal Waterway. The site is on Beach …

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333-Flower-Los-Angeles
Affordable HousingCaliforniaDevelopmentNewsWestern

Kennedy Wilson, Jamison Team Up to Develop 4,000 Units of Affordable Housing in Los Angeles

by Lynn Peisner

LOS ANGELES — Kennedy Wilson and Jamison have partnered to develop 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction. Specifically, the partnership is comprised of Jamison’s affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development group, Vintage Housing. According to Bloomberg, the development cost is approximately $1.7 billion. The Los Angeles Times reports the partners will deliver the units via 15 separate projects. The team will begin with the conversion of the former L.A. World Trade Center, a 10-story office complex developed in …

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Levi-at-River-City-Jacksonville
FloridaInvestment SalesNewsSoutheast

American Landmark Apartments Buys Two Jacksonville Properties, Rebrands as One Community

by Lynn Peisner

JACKSONVILLE, FLA. — American Landmark Apartments, a Tampa, Florida-based private equity-backed multifamily investment manager and owner-operator, has acquired two properties in Jacksonville for an undisclosed price. Mirador Apartments at River City and Stovall Apartments at River City, two adjacent communities totaling 552 units were acquired from Revantage, according to the Jacksonville Business Journal, which also reports the assets were acquired in 2017 for $36 million. The properties will be rebranded as Levi at River City. The communities were developed in 2007 and offer a mix of one-, two- and three-bedroom …

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Linwood-and-Troost-Kansas-City
Affordable HousingDevelopmentMidwestMissouriNews

Milhaus to Develop 194-Unit LIHTC Project in Kansas City

by Lynn Peisner

KANSAS CITY, MO. — Milhaus will develop Linwood & Troost, a 194-unit affordable housing community in Kansas City. Construction is slated to begin at the end of 2026, with completion anticipated by 2028. The Missouri Housing Development Commission (MHDC) awarded 4 percent federal Low-Income Housing Tax Credits for the project. In addition to the tax credits, funding sources include a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. The total project cost was not disclosed. Indianapolis-based Milhaus will …

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Parc-Riverside-East-DC
FinanceNewsNortheastWashington, D.C.

PCCP Provides $61.3M Refinancing Loan for Parc Riverside East in D.C.

by Lynn Peisner

WASHINGTON, D.C. — PCCP, a Los Angeles-based commercial real estate finance and investment management firm, has provided a $61.3 million refinancing loan to PGIM and Kennedy Wilson for Parc Riverside East, a luxury mid-rise community in the Navy Yard/Capital Riverfront neighborhood of Washington, D.C. Built in 2014 and located at 1011 First St. SE, the 287-unit, 13-story property is comprised of studio, one- and two-bedroom floor plans Amenities include a fitness center with Peloton bikes, a rooftop pool and sun decks with panoramic D.C. views, courtyard spaces with lounge seating, …

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Alesio-Urban-Center-Irving
BerkadiaFinanceNewsTexas

Berkadia Arranges $124.7M Refinancing for HGI’s Alesio Urban Center in Irving, Texas

by Lynn Peisner

IRVING, TEXAS — Berkadia has arranged a $124.7 million refinancing loan for Alesio Urban Center, a mixed-use community with 908 units and 55,499 square feet of commercial space in the Las Colinas mixed-use planned community in Irving. The sponsor was Harbor Group International (HGI). The loan proceeds will be used to retire the existing mortgage and cover closing costs. The property was developed in two phases between 1987 and 1995. HGI acquired the asset in 2021. Alesio Urban Center spans 17.3 acres and consists of 14 three- to six-story residential …

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Moda-Vista-Nashville
Build-to-RentDevelopmentFinanceNewsSoutheastTennessee

Forman Capital Finances $49.4M BTR Project in Nashville

by Lynn Peisner

NASHVILLE, TENN. — Forman Capital, a private direct lender, has provided a $49.4 million construction loan for Moda Vista, a 102-unit build-to-rent community at 3320 Curtis St. in the Bordeaux neighborhood of Nashville. The borrower/developer, Moda Homes, is underway on sitework in preparation for vertical construction, which the Illinois-based developer anticipates beginning in summer 2027. Additional project details have not been released.

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