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Woodland Flats in Gresham, Oregon
DevelopmentFinanceNewsOregonWestern

PH Development Secures $15.9 Million for Hotel-to-Multifamily Conversion in Gresham, Oregon

by Channing Hamilton

GRESHAM, ORE. — PH Development LLC has received $15.9 million in financing for the development of Woodland Flats, a hotel-to-multifamily conversion project located at 2752 NE Hogan Drive in Gresham, about 17 miles west of Portland. The project includes the conversion of an existing hotel into 120 apartments, as well as 6,400 square feet of ground-floor retail space. Units will come in studio, one- and two-bedroom floor plans. Monthly rates will range from $1,200 to $1,600 per month. Community amenities will include a pool, fitness center and exterior courtyard. Tom Wilson, …

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Investment SalesNewsOklahomaTexas

Home Invest Acquires 100-Unit Community in Del City, Oklahoma

by Channing Hamilton

DEL CITY, OKLA. — Home Invest, a private investment firm and fund manager headquartered in Sarasota, Florida, has bought Morgan Terrace in Del City, six miles east of Oklahoma City, Oklahoma. An undisclosed, California-based investor purchased the asset for $3.7 million. According to Apartments.com, Morgan Terrace was completed in 1964 and offers one-, two- and three-bedroom units, as well as a courtyard and onsite laundry facilities.

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Queens WeHo in Nashville, Tennessee
Investment SalesNewsSoutheastTennessee

Origin Investments Buys Queens WeHo in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit property located in downtown Nashville’s Wedgewood-Houston neighborhood. Proffitt Dixon, who developed the community in 2023, sold the asset for an undisclosed price.  The property offers a mix of studio, one-, two- and three-bedroom apartments ranging from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space, which is occupied by Mercado by Butchertown. The asset was 94 percent occupied at the time of sale. Queens WeHo marks the second acquisition of the Chicago-based buyer’s Origin Exchange …

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Scholars Village in Jersey City, New Jersey
DevelopmentFinanceNew JerseyNewsNortheast

Alpine Residential Receives $142.7 Million Construction Loan for Project in Jersey City, New Jersey

by Channing Hamilton

JERSEY CITY, N.J. — Alpine Residential has received a $142.7 million construction loan and equity placement for Scholars Village, a 500-unit project in Jersey City. The development is situated at 189 Phillip St., adjacent to the Liberty Science Center and across from Liberty State Park. Scholars Village will consist of two 12-story buildings with 4,101 square feet of ground-level commercial space. The community will feature studio, one-, two- and three-bedroom floor plans. Planned amenities include a fitness center, coworking spaces and rooftop terraces. Thomas Didio, Thomas Didio Jr. and Michael Mataras …

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DevelopmentNewsNorth CarolinaSoutheast

Denholtz, LMG Open Novi Lofts in Concord, North Carolina

by Channing Hamilton

CONCORD, N.C. — Denholtz and Lansing Melbourne Group (LMG) have opened Novi Lofts, an 89-unit mixed-use complex located at 26 Union St. in Concord, about 25 miles northeast of Charlotte, North Carolina. The community offers studio, one- and two-bedroom units. Novi Lofts also includes 5,134 square feet of retail space, including a rooftop restaurant and a pilates studio that is scheduled to open in March. Novi Lofts is the third and final piece of the Novi portfolio, which consists of three mixed-use communities in downtown Concord. The portfolio also includes Novi …

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Lincoln Avenue Apartments in Buena Park, California
Affordable HousingCaliforniaDevelopmentNewsWestern

C&C Development Breaks Ground on Affordable Housing Project Near Anaheim, California

by Channing Hamilton

BUENA PARK, CALIF. — C&C Development and Riverside Charitable Corp. have broken ground on Lincoln Avenue Apartments, an affordable housing project in Buena Park, roughly seven miles west of Anaheim, California. The project will comprise 54 apartments across four three-story buildings. The unit mix includes five residences for student families, 11 apartments for veterans and 13 permanent supportive housing units for families and individuals with special needs. Income restrictions were not disclosed. Units will range from approximately 500 to 900 square feet and will be both ADA-accessible and adaptable. The …

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Mathew Wambua
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Merchants Capital Provides $316 Million for Brooklyn Affordable Housing Development

by Channing Hamilton

NEW YORK CITY — Merchants Capital has provided $316 million in financing for the second phase of Alafia, a 634-unit affordable and supportive housing project located in the East New York neighborhood of Brooklyn. The borrower is a partnership between RiseBoro Community Partnership Inc., L+M Development Partners and Apex Building Group. The financing package consists of a $192.7 million construction loan, which Bank of America provided in conjunction with Merchants Capital, as well as $174.8 million in 4 percent Low-Income Housing Tax Credit equity. Additionally, Merchants Capital provided $48.7 million …

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Paul Waterloo and Harrison Pinkus
IllinoisMidwestNewsPeople News

Interra Realty Promotes Paul Waterloo and Harrison Pinkus

by Channing Hamilton

CHICAGO — Interra Realty, a Chicago-based investment services firm, has promoted Paul Waterloo to the role of managing partner, as well as Harrison Pinkus to managing director.  Waterloo joined Interra in 2017. The most recent middle-market multifamily deals Waterloo has arranged include the $8.4 million sale of an 18-unit, new-construction asset in Wheaton, Illinois, and the $7.8 million sale of an 84-unit property in Waukegan, Illinois. Prior to this, he was a sales executive with ADP. He received a Bachelor of Science in marketing from the University of Illinois Urbana-Champaign. Since joining the company …

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Main & Mill in Lewisville, Texas
FinanceNewsTexas

Affinius Capital Provides $34 Million Loan for Refinancing of Metro Dallas Asset

by Channing Hamilton

LEWISVILLE, TEXAS — Affinius Capital has provided a $34 million loan for the refinancing of Main & Mill, a 203-unit complex in Lewisville, 25 miles northwest of Dallas. Lauren Kaufman of JLL arranged the loan on behalf of the property owner, AMAC Development. Main & Mill consists of 143 one-bedroom and 60 two-bedroom units, as well as 6,400 square feet of retail space. Each residence features quartz countertops, stainless steel appliances, walk-in closets and full-size washers and dryers. Select units also offer private patios and balconies. Residents have access to …

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DevelopmentIllinoisMidwestNews

Redwood Living Completes 124-Unit Community in Crystal Lake, Illinois

by Channing Hamilton

CRYSTAL LAKE, ILL. — Redwood Living Inc. has completed Redwood Crystal Lake, a 124-unit community in Crystal Lake, roughly 50 miles northwest of Chicago. The property consists of 25 townhome-style buildings housing four to six units each. Each of the two-bedroom units feature an attached two-car garage and patio. Amenities include green spaces, pet waste stations and designated guest parking. McShane Construction Co. is the general contractor. Mann Parsons Gray Architects designed the community.

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