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Layers-Galleria-Farmers-Branch
Investment SalesNewsTexas

MG Properties Buys Layers Galleria in Farmers Branch, Texas

by Lynn Peisner

FARMERS BRANCH, TEXAS — IPA has arranged the sale of Layers Galleria, a 330-unit property in Farmers Branch, 14 miles north of Dallas. IPA’s Joey Tumminello, Taylor Hill, Drew Kile, Michael Ware and Jack Windham represented the seller, Pittsburgh-based HLC Equity, and procured the buyer, San Diego-based MG Properties. Brian Eisendrath, Cameron Chalfant and Harry Krieger of IPA Capital Markets arranged an undisclosed sum of acquisition financing. The three-story community was developed in 2013. Amenities include a pool, parking garages and a 24-hour fitness center.

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Stonebrook-Village-Frisco
Investment SalesNewsTexas

Paskin Group Buys Stonebrook Village in Frisco, Texas

by Lynn Peisner

FRISCO, TEXAS — Paskin Group has acquired Stonebrook Village, a 216-unit formerly affordable-housing property in Frisco, in a 1031 exchange. Paskin will rebrand the asset to The Ranch at Frisco and is planning to renovate units to drive rent growth following the 2024 expiration of a land-use agreement that required the property be 100 percent affordable. Strata Capital was the seller. IPA’s Drew Kile, Joey Tumminello, Taylor Hill, Michael Ware and William Hubbard arranged the transaction. Stonebrook Village was developed in 1994 on approximately 14 acres and offers amenities such …

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SW-Parkway-Grand-Prairie
DevelopmentFinanceNewsTexas

JPI Closes on Financing for $114 Million North Texas Project

by Lynn Peisner

GRAND PRAIRIE, TEXAS — JPI has closed on financing through lender Anchor Loans for the $114 million Jefferson Southwest Parkway project. The 439-unit garden style property is slated for a 2027 completion. Floor plans include studios, one-, two- and three-bedroom units. Amenities will feature a resort-style pool, a fitness center, a dog park and a clubhouse. JPI broke ground in 2025 on Jefferson Kirbybrook, a 262-unit community also located in Grand Prairie. According to the Dallas Business Journal, the Jefferson Kirbybrook development cost is $92 million.

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The-Element-Mount-Prospect
IllinoisInvestment SalesMidwestNews

Eastham Capital Buys Workforce Community in Mount Prospect, Illinois, for $75.3 Million

by Lynn Peisner

MOUNT PROSPECT, ILL. — Eastham Capital, along with co-investor Chicago-based Bender Cos., has acquired The Element, a 509-unit garden-style property in Mount Prospect, 22 miles northwest of Chicago. The Element, which traded at $75.3 million, is the first asset acquired with Eastham’s Fund VII. The company will invest $5 million to upgrade units, exterior areas and building systems. The property was 95 percent occupied at the time of the sale, with average monthly effective rents at $1,590. The Element was built in 1968 on approximately 10 acres. Eastham Capital is …

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Kearse-Brandon
Company NewsNew YorkNewsNortheastPeople News

Jonathan Rose Cos. Appoints Brandon Kearse as President and Chief Investment Officer 

by Lynn Peisner

NEW YORK CITY — Affordable housing investment and development firm Jonathan Rose Cos. has appointed Brandon Kearse president, managing partner and chief investment officer. Kearse joined the company in 2015 as an associate director. In his new role, he will drive strategy and oversee operations across acquisitions, recapitalizations and investor relations. Jonathan Rose Cos. was founded in 1989. Its portfolio includes approximately 20,000 units across 14 states and Washington, D.C.

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Alex-Terauds-CF-Capital
Company NewsKentuckyNewsPeople NewsSoutheast

CF Capital Hires Alex Terauds as Acquisitions Principal

by Lynn Peisner

LOUISVILLE, KY. — CF Capital, a multifamily investment firm focused on assets in the Midwest and Southwest, has hired Alex Terauds as acquisitions principal. Terauds will work with the firm’s leadership and acquisition team to evaluate new investment opportunities. He has held prior leadership roles at Sunset Property Solutions, where he led approximately $120 million in acquisitions, and The Connor Group, where he oversaw acquisition underwriting, executing about $1.7 billion in dispositions and acquisitions as well as assisting in the launch of a preferred debt fund.

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929-Mass-Ave-Cambridge
FinanceInvestment SalesMassachusettsNewsNortheast

Walker & Dunlop Arranges $53.6 Million Sale of Mixed-Use Asset in Cambridge, Massachusetts

by Lynn Peisner

CAMBRIDGE, MASS. — Walker & Dunlop has arranged the $53.6 million sale of 929 MASS, a mixed-use, two-building property in the Central Square area of Cambridge. Walker & Dunlop represented the unnamed institutional seller in the deal with a team led by Travis D’Amato, Michael Coyne, Brendan Shields, Kevin Gleason and Maggie McFarland. Concurrently, Andrew Gnazzo and Mike Darling secured acquisition financing for buyer John M Corcoran & Co. (JMC), arranging a $37.1 million fixed-rate, interest-only Fannie Mae loan. JMC has partnered with Stars REI, a global, privately held company …

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Luxor-Bala-Cynwyd
BerkadiaFinanceInvestment SalesNewsNortheastPennsylvania

Alliance Residential, PCCP Acquire Luxor Bala Cynwyd in Philadelphia

by Lynn Peisner

BALA CYNWYD — Alliance Residential of Scottsdale, Arizona, and Los Angeles-based PCCP have acquired Luxor Bala Cynwyd in the township of Bala Cynwyd 7 miles north of Philadelphia. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey of Berkadia DC Metro arranged a $37 million acquisition loan from ACRE Capital on behalf of the joint venture buyer. The 173-unit property was developed in 2021 by Westrum Development Co. (the seller) and includes studios and one- and two-bedroom floor plans and amenities such as a pool, fitness center, yoga …

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Alexander-Crossing-Yonkers
FinanceNew YorkNewsNortheast

Rose Associates, Battery Global Advisors Line Up $116 ReFi for Yonkers Property

by Lynn Peisner

YONKERS, N.Y. — Walker & Dunlop has arranged a $116 million Fannie Mae loan to refinance Alexander Crossing in Yonkers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno, Sean Bastian and Jack Krentzman arranged the five-year, fixed-rate loan for New York City-based Rose Associates and joint venture partner Battery Global Advisors, an asset manager headquartered in Boston. Alexander Crossing is a seven-story, 440-unit building comprised of studio through three-bedroom layouts, including 44 apartments designated affordable. Rent restrictions were not publicly available. The community is …

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Hunters-Crossing-Gainesville
FloridaInvestment SalesNewsSoutheast

Westlight Capital Buys Six-Property Florida Portfolio for $162 Million

by Lynn Peisner

GAINESVILLE, FLA. — Westlight Capital has acquired a six-property, 1,432-unit portfolio in Gainesville for $162 million. Jubeen Vaghefi and Denny St. Romain of CBRE represented the undisclosed seller and arranged the $162 million acquisition loan for Westlight. The private real estate investment firm was launched last year by Doug Faron. This portfolio sale marks the West Palm Beach, Florida-based company’s first acquisition.

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