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Berkshire-Crossing-Hanford
CaliforniaFinanceNewsWestern

Dwight Capital Provides $23M HUD Loan to Refinance Berkshire Crossing in Hanford, California

by Lynn Peisner

HANFORD, CALIF. — Dwight Capital has provided a $23 million HUD refinancing loan for borrowers Fresno Supreme Inc. and Santa Lucia Ventures, owners of Berkshire Crossing, a 92-unit community completed in 2022. Located in Hanford, approximately 33 miles south of Fresno, California, Berkshire Crossing features one-, two- and three-bedroom units and such amenities as a pool, hot tub, fitness center, package lockers and a clubhouse. Dwight Capital’s Keith Hoffman and Aaron Kirshtein led the transaction.

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Cedar-Hills-Beaverton
DevelopmentNewsOregonWestern

High Street Residential Breaks Ground on Mixed-Use Transit-Oriented Development in Beaverton, Oregon

by Lynn Peisner

BEAVERTON, ORE. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on a 369-unit mixed-use, transit-oriented apartment community at the former Cedar Hills Shopping Center in Beaverton, located approximately nine miles west of Portland, Oregon. Joint venture partners include SCOA Real Estate Partners and Lease Crutcher Lewis. Located on a 5.8‑acre site between Southwest Wilshire Street and Park Way, the project will replace a portion of the Cedar Hills Shopping Center, which closed earlier this year, and its surface parking with a high‑density, transit‑connected development. The …

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Modera-Chandler
ArizonaDevelopmentNewsOperationsWestern

Mill Creek Residential Pre-Leasing at Modera Chandler

by Lynn Peisner

CHANDLER, ARIZ. — Mill Creek Residential has begun pre-leasing at Modera Chandler, a 345-unit property in Chandler that Mill Creek began developing in July 2024. Modera Chandler is comprised of one-, two- and three-bedroom homes, some with dens. Amenities include a resort-style pool with cabanas, a hot tub and sauna, grilling area, fire pit, outdoor dining, a clubroom with gathering space, landscaped courtyards, coworking space with private pods, a conference room, resident lounge with library, pet park, playground and a two-story fitness center. The community also features 24-hour digital self-serve …

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Affordable HousingArizonaDevelopmentFinanceNewsWestern

UDG Breaks Ground on Phase II of Phoenix Affordable Housing Development

by Lynn Peisner

PHOENIX — Ulysses Development Group (UDG) has broken ground on Salt River Flats 2, a 168-unit affordable housing community located at 4027 S. 13th St. in Phoenix. The project will offer apartments to families and individuals earning up to 60 percent of area median income. Salt River Flats 2 is adjacent to Denver-based UDG’s first project in Arizona, Salt River Flats, which includes 196 multifamily units and opened in the spring of 2024. Funding was secured through a variety of sources, including the Arizona Industrial Development Authority, which provided $34.5 …

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south-pointe-Miami
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $21.5M Refinancing For 170-Unit Miami Community

by Lynn Peisner

MIAMI — Berkadia has arranged a $21.5 million loan on behalf of Rental Asset Management (RAM) to refinance South Pointe Apartments, a 170-unit community located in the West Perrine neighborhood of Miami. Matthew Robbins, Mitch Sinberg, Scott Wadler, Brad Williamson and Hugo Hernandez of Berkadia Boca Raton secured the financing on behalf of RAM, a Fort Lauderdale, Florida-based multifamily owner and operator. The five-year, fixed-rate Fannie Mae loan features full-term interest-only payments and a 35-year amortization schedule. Located at 17800 SW 107th Ave., the 1971-built development is a two-story, garden-style …

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Rifle-Apartments-Rifle-Colorado
Affordable HousingColoradoDevelopmentNewsWestern

Evergreen Real Estate Completes LIHTC Development In Rifle, Colorado

by Lynn Peisner

RIFLE, COLO. — Evergreen Real Estate Group has completed the 60-unit Rifle Apartments in Rifle, approximately 183 miles west of Denver. The affordable housing community is comprised of a trio of three-story buildings that include one-, two- and three-bedroom units reserved for households earning between 30 and 80 percent of area median income (AMI). Of the 60 total apartments, 14 are designated as project-based voucher units for families who are earning at or below 30 percent of AMI. The development also is managed by Evergreen and is currently 95 percent …

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Optima-Verdana-Wilmette
FinanceIllinoisMidwestNews

Optima Obtains $60M Refinancing for Metro Chicago Development

by Lynn Peisner

WILMETTE, ILL. — Walker & Dunlop has arranged a $60 million Freddie Mac loan for Optima, a developer with offices in Illinois and Arizona. The loan is take-out construction financing for Optima Verdana, a 100-unit community completed in 2023. The property, located in Wilmette, approximately 18 miles north of Chicago, also features 5,900 square feet of ground-floor retail. The Walker & Dunlop team was led by Dave Hendrickson, Pat Modig, Jonathan Paine, Mo Beler, Will Crittenberger and Philippe LaPointe.

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Roosevelt-Apartments-New-Bedford
Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges $8.7M Sale of 1920s Apartment Building in New Bedford, Massachusetts

by Lynn Peisner

NEW BEDFORD, MASS. — Marcus & Millichap has arranged the $8.7 million sale of Roosevelt Apartments in downtown New Bedford, about 58 miles south of Boston. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap marketed the property on behalf of the seller, a family office based in New Jersey, and procured the undisclosed buyer. Roosevelt Apartments consists 73 studio, one- and two-bedroom units. The six-story brick apartment building was built in 1924, sits on about a half-acre lot and includes 26 off-street parking spaces. The property is located at …

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Resia-Tributary-Douglasville
GeorgiaInvestment SalesNewsSoutheast

Elmington Residential Buys Resia Tributary in Metro Atlanta for $73.3M

by Lynn Peisner

DOUGLASVILLE, GA. — JLL has arranged the $73.3 million sale of Resia Tributary, a 433-unit community in the western Atlanta suburb of Douglasville. Miami-based developer Resia was the seller, and Nashville, Tennessee-based investor, developer and property manager Elmington Residential was the buyer. Located at 1851 Market St., the asset was built in 2023 and includes a mix of studios, one- and two-bedroom units and such amenities as a pool, 24-hour fitness center, pickleball court, outdoor gaming area, dog park and a multi-purpose community room with workspaces. Additionally, Resia Tributary includes 12,341 …

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Parc-Place-Miami-Gardens
FinanceFloridaNewsSoutheast

The Lynd Group Obtains $34.5M Refinancing for Parc Place Apartments in Metro Miami

by Lynn Peisner

MIAMI GARDENS, FLA. — The Lynd Group has secured a $34.5 million loan, provided by A10 Capital, to refinance Parc Place, a 234-unit community in Miami Gardens, about 17 miles north of Miami. The Lynd Group, an investment, development and property management firm based in San Antonio, acquired Parc Place in 2021 for $40.8 million. The loan will support the company’s ongoing renovations. According to CEO David Lynd, monthly rent increases so far during the hold period have ranged from $120 to $150. Unit improvements include new flooring, countertops, stainless …

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