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Central-at-Old-Southside-Indianapolis
Affordable HousingDevelopmentIndianaMidwestNews

The Annex Group Breaks Ground on $71M Indianapolis Affordable Housing Community

by Lynn Peisner

INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community in Indianapolis. The development team behind the $71 million project includes BVH Architecture, nonprofit partner Impact Housing Indiana, permanent lender Merchants Capital and Bank of America, serving as investor and construction lender. Central at Old Southside is situated on approximately 6 acres and will comprise one-, two- and three-bedroom units reserved for households earning between 50 and 60 percent of the area median income (AMI). Amenities for Central at Old Southside will …

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Bishop-Arts-Dallas
Investment SalesNewsTexas

JLL Arranges Five-Property Plus Retail Sale in Dallas

by Lynn Peisner

DALLAS — JLL has arranged the sale of the Bishop Arts retail and multifamily portfolio comprising four multifamily properties (539 units) and 40,747 square feet of retail along North Bishop Avenue in Dallas’ Bishop Arts District. JLL’s Trey Morsbach, Bill Miller, Greg Toro, Adam Howells, Clint Coe, Caroline Novak and Erin Lazarus represented the seller and developer, Exxir, a real estate company owned by the Nazerian family, in the transaction. Hines was the buyer. The retail component of the portfolio occupies about an acre at 205, 250, 275 and 308 …

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1920-Turnbull-Bronx
Affordable HousingDevelopmentNew YorkNewsNortheast

Gilbane Breaks Ground on $175M First Phase of Affordable Housing Development in The Bronx

by Lynn Peisner

BRONX, N.Y. — Gilbane, in partnership with Strada Development and the Center for Urban Community Services (CUCS), has broken ground on 1920 Turnbull, a $175 million affordable housing development at 1920 Turnbull Ave. in the Castle Hill/Soundview neighborhood of the Bronx. The project consists of a 22-story building with 228 apartments, including 137 permanent supportive housing units for formerly homeless individuals and families. Remaining units will be restricted to households earning up to 60 percent of area median income. The community will also include a 24-hour staffed lobby, outdoor recreation …

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2201-3rd-Ave-NYC
DevelopmentFinanceNew YorkNewsNortheast

Bravo Property Trust Provides $80M Construction Loan for Developer of East Harlem Tower

by Lynn Peisner

NEW YORK CITY — Bravo Property Trust has provided an $80 million bridge construction loan to Glowstone Group for the development of a 22-story mixed-use building with 194 apartments in East Harlem. Located at 2201 3rd Ave., the project will include 12 studios, 103 one-bedroom and 79 two-bedroom units on floors two through 22. The ground floor will feature two retail spaces totaling approximately 4,510 square feet plus a separate community facility space. Amenities include a gym, coworking space, children’s playroom, pet spa, library, lounge, bike storage, package room, upper-level …

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The-Grad-Student-Housing-San-Jose
CaliforniaInvestment SalesNewsStudent HousingWestern

IPA Arranges $204.8M Trade of Silicon Valley Student Housing High-Rise

by Lynn Peisner

SAN JOSE, CALIF. — Institutional Property Advisors (IPA) has brokered the sale of The Grad San Jose, a 260-unit, 1,035-bed purpose-built student housing high-rise half a mile south of San Jose State University. AMCAL, Swenson and Tikehau Capital sold the property to a joint venture between Coastal Ridge Real Estate and Brookfield for approximately $204.8 million. The Grad was 100 percent leased at the time of the sale. Completed in 2020, The Grad offers furnished one- to four-bedroom floor plans, most with private bedrooms and private bathrooms, along with kitchens …

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PHP-Phildadelphia
DevelopmentInvestment SalesNewsNortheastPennsylvania

Agent PHL Brokers Development Site Sale in Philadelphia Historic District

by Lynn Peisner

PHILADELPHIA — Agent PHL has brokered the sale of 1523-29 Wallace Street, an urban infill assemblage, comprising three lots, in the Fairmount/Spring Garden historic district of Philadelphia. The seller was an unnamed estate, and the buyer was locally based private equity firm Khosla Properties, which is planning to develop a four-story, 27-unit multifamily property, primarily comprising two-bedroom, two-bathroom floor plans. The site was previously used as a parking lot. A development timeline was not disclosed.

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Highland-Ave-National-City
CaliforniaDevelopmentNewsWestern

National City Investment Group Breaks Ground on Market View in Metro San Diego

by Lynn Peisner

NATIONAL CITY, CALIF. — The National City Investment Group has broken ground on Market View, a 120-unit community situated on a former parking lot at 303 Highland Ave. in National City, seven miles south of San Diego. RDC is the architect, and R.D. Olson Construction is the general contractor. The property will consist of studios and one- and two-bedroom floor plans along with a rooftop deck with ocean views, coworking space and an outdoor yoga deck. Completion is slated for the first quarter of 2028.

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The-Vibe-Miami
FinanceFloridaNewsSoutheast

JLL Arranges $50.8M ReFi for The Vibe in Miami

by Lynn Peisner

MIAMI — JLL Capital Markets has arranged a $50.8 million refinancing fixed-rate, CMBS loan for STRE Management and Lloyd Jones. The sponsors are refinancing The Vibe, a two-building community in Miami’s Little Havana neighborhood. Located at 700 Southwest 1st St., the 194-unit affordable housing community was completed in 2021. The one-, two- and four-bedroom units are reserved for renter households earning 80 to 120 percent of area median income. The property also includes 7,625 square feet of fully leased commercial space. Units are currently 96.4 percent leased. Jesse Wright, Joshua …

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Junction-at-Rockledge-Florida
ArizonaFinanceFloridaGeorgiaNewsSoutheastWestern

Thompson Thrift Secures $463M Construction Takeout Loan for Eight New Sun Belt Properties

by Lynn Peisner

TERRE HAUTE, IND. — JLL has arranged $463 million in bridge financing for an eight-property portfolio owned by Terre Haute-based Thompson Thrift. Barings provided the floating-rate construction takeout loan for the newly completed properties, comprising 2,412 units, in Florida, Georgia and Arizona. The loan retired existing construction loans across all properties, which were completed throughout 2025 and 2026 in seven metro areas. Each property features amenities such as 24-hour fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor …

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Woodland-North-Coon-Rapids
Investment SalesMidwestMinnesotaNews

Eastham, Bender Partner on Value-Add Acquisition in Twin Cities Metro

by Lynn Peisner

COON RAPIDS, MINN. — Eastham Capital and Bender Cos. have acquired Woodland North Apartments in Coon Rapids, 25 miles north of Minneapolis. The seller and sales price were not disclosed. The 198-unit community marks the 15th joint acquisition between the partners. Built in 1979, the property is currently 94 percent occupied with average asking monthly rents of $1,424. Following recent capital improvements, the business plan calls for additional upgrades across several apartments, including the addition of in-unit laundry and new appliances, along with enhancements to the exterior and amenities. The property …

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