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Parkside-Commons-Syracuse
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

BFC Partners and SAA Canopy Group Secure $269M to Finance Affordable Housing Redevelopment in Syracuse, New York

by Lynn Peisner

SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …

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Ascent-on-Steamboat-Reno
FinanceNevadaNewsWestern

Newmark Arranges $33.5M Fannie Mae Loan for Ascent on Steamboat in Reno, Nevada

by Lynn Peisner

RENO, NEV. — Newmark has arranged a $33.5 million Fannie Mae loan to refinance Ascent on Steamboat, a 204-unit community in Reno owned by Elan Multifamily Investments. Newmark’s Lowell Takahashi and Vince Punzi arranged the five-year, fixed rate loan. Located at 3300 Skyline Blvd. in Reno’s Old Southwest neighborhood, Ascent on Steamboat is comprised of one- and two-bedroom units and a pool, fitness center and clubhouse.

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Orchid-Run-Naples
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $89.8M Trade in Naples, Florida

by Lynn Peisner

NAPLES, FLA. — The Inland Real Estate Group of Cos. has sold Orchid Run, a 282-unit property in Naples, to Cardone Capital, a Miami-based firm founded by real estate investor and sales entrepreneur Grant Cardone. Matt Mitchell and Chris Burtner of Berkadia North & Central Florida arranged the sale on behalf of Inland. According Cardone’s investment memoranda on the deal, the asset traded for $89.8 million. The investment vehicle acquiring Orchid Run also plans to hold 282 Bitcoin, part of Cardone Capital’s strategy of pairing multifamily real estate with cryptocurrency …

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AVIA-Mesa
ArizonaInvestment SalesNewsWestern

Geringer Capital Sells Avia 266 in Metro Phoenix for $52.4M

by Lynn Peisner

MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy, to San Diego-based ColRich. The sales price includes the assumption of an existing HUD loan. The property was developed in 1984 and includes two pool and hot tub areas, a 24-hour fitness center, an outdoor courtyard, a clubhouse with a community kitchen, package lockers and a fenced dog park. CBRE’s Matt Pesch, Asher Gunter and Austin Groen represented Geringer in …

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Altera-Heights-Apex
DevelopmentNewsNorth CarolinaSoutheast

Wood Partners, Marcus Partners Team up for Development in Raleigh-Durham Metro

by Lynn Peisner

APEX, N.C. — Wood Partners and Marcus Partners have broken ground on Altera Heights in Apex. The 280-unit community is located at the intersection of Jenks and Wimberly roads and will be comprised of one-, two- and three-bedroom units, some of which will be income-restricted. Marcus Partners is providing an undisclosed sum of equity for the project. Altera Heights will have a freestanding clubhouse featuring a fitness center, coworking space and gaming and lounge areas. Additional amenities include a resort-style pool, outdoor fitness area, dog park and pet spa. The …

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Alicante-Las-Vegas
Investment SalesNevadaNewsWestern

CONAM Acquires 232-Unit Alicante Apartments in Las Vegas

by Lynn Peisner

LAS VEGAS — CONAM Group, through its Strategic Investments Fund IV, has acquired Alicante Apartment Homes, a 232-unit community in Las Vegas’ Spring Valley submarket. The identity of the seller was not disclosed, but Sares Regis Group acquired the asset in 2022. The gated community, built in 2001, consists of 232 one-, two- and three-bedroom units across two-story, garden-style buildings on approximately 11 acres. Amenities include a pool and hot tub, fitness center with yoga and spin studios, clubhouse, billiards room, dog park, playground and package lockers.

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Overlook-at-Garson-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Atlanta Beltline Partners Break Ground on 130-Unit Affordable Community

by Lynn Peisner

ATLANTA — The Atlanta Beltline, Pennrose, Radiant Development Partners and other project stakeholders broke ground Aug. 4 on Overlook at Garson, a 130-unit affordable housing community along the Atlanta Beltline’s Northeast Trail in the Lindbergh neighborhood. The studio, one- and two-bedroom units will be rent restricted at 50, 60 and 80 percent of the area median income. The single-building community will include parking and 10,300 square feet of commercial space on approximately 3 acres. Financial partners for the Low-Income Housing Tax Credit (LIHTC) project include Atlanta Beltline Inc., Invest Atlanta, …

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Herndon-Atlanta
Affordable HousingDevelopmentGeorgiaNewsSoutheast

Construction Wraps on Phase II of Atlanta Public Housing Redevelopment

by Lynn Peisner

ATLANTA — Capstone Building Corp. has completed construction of Herndon Square Phase II, a $57 million development that’s part of the larger Legacy at Herndon Square redevelopment in Atlanta’s Westside. Atlanta Housing, Hunt and Pennrose are the developers, and the architect is Thriven Design. Herndon Square Phase II spans 335,348 square feet and consists of a six-story residential building featuring 201 apartments in one-, two- and three-bedroom floor plans. Thirty-one of the units are rented at market rates while the remaining apartments are rent-capped at 30 to 80 percent of …

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12-Halsey-Brooklyn
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

EJS, Hope Street Secure $137.5M ReFi for Brooklyn Development

by Lynn Peisner

NEW YORK CITY — Walker & Dunlop has arranged a $137.5 million refinancing loan for 12 Halsey, a 240-unit mixed-income development in the Bedford-Stuyvesant neighborhood of Brooklyn. EJS Group and Hope Street Capital were the borrowers. The three-year, floating-rate loan was provided by AllianceBernstein. Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Diaz, Michael Ianno and Cole Grims led the transaction team. Completed in October 2025, 12 Halsey comprises 240 residential units, with 30 percent designated as affordable under New York’s Affordable …

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Camden-Hollywood
CaliforniaInvestment SalesNewsWestern

BlackRock Acquires 11-Property Camden Property Trust Portfolio for $1.6B

by Lynn Peisner

HOUSTON — Camden Property Trust (NYSE: CPT) has sold an 11-property, 3,620-unit apartment portfolio in Southern California for approximately $1.6 billion. The buyer was an investment entity managed by BlackRock (NYSE: BLK). According to JLL, which represented Camden in the sale, the portfolio’s 3,620 units equal 16.5 percent of the relevant Southern California markets’ average annual transaction volume by unit count over the past five years. JLL characterized the transaction as unusually large for markets where owners typically hold multifamily properties for long periods. The properties are located across Los …

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