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Ira-D-Hall-Sunnyvale
Affordable HousingCaliforniaDevelopmentNewsWestern

MidPen Housing Completes Ira D. Hall Square in Silicon Valley

by Lynn Peisner

SUNNYVALE, CALIF. — MidPen Housing has completed and opened Ira D. Hall Square in Sunnyvale. The 176-unit property comprises studios, one-, two- and three-bedroom units that are reserved for residents earning up to 30 to 70 percent of area median income, which is approximately $43,170 to $100,730 for a one-person household. Ira D. Hall Square is adjacent to the Lawrence Caltrain Station and is the first development built under the city’s Lawrence Station Area Plan, which calls for a mixed-use district around the transit hub. MidPen Property Management manages the …

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2185-Coyle-Street-Brooklyn
Affordable HousingDevelopmentInvestment SalesNew YorkNewsNortheast

Gilbane Buys Development Site in Brooklyn for $37M

by Lynn Peisner

BROOKLYN, N.Y. — Gilbane Development has acquired a mixed-use development site at 2185 Coyle St. in the Sheepshead Bay neighborhood of Brooklyn for $37 million. The 96,000-square-foot lot can support 408,400 square feet of commercial space. The seller was a joint venture between AAG Management and ABS Partners. Ariel Property Advisors, led by Victor Sozio, Michael A. Tortorici, Sean R. Kelly, Shimon Shkury and Remi Mandell, arranged the sale. Gilbane is planning an affordable housing project on the site. Details on this upcoming project have not been disclosed. Gilbane, in …

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Arc-at-the-Grid-Stafford
FinanceNewsTexas

Lone Star Refinances Two Metro Houston Assets with $110M Loan

by Lynn Peisner

STAFFORD, TEXAS — Affiliates of Lone Star Funds, a London-based global investment firm, have secured a $110 million refinancing loan for two properties in Stafford. The neighboring communities, 1879 at the Grid and Arc at the Grid, were built in 2019 and 2020 respectively and are located within a 192-acre mixed-use redevelopment of the former Texas Instruments campus about 17 miles southwest of Houston called The Grid. Walker & Dunlop’s team led by Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer …

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Villas-at-Viera-Florida
Build-to-RentDevelopmentFloridaNewsSoutheast

Capstone, CBI Break Ground on Build-to-Rent Development in Viera, Florida

by Lynn Peisner

MELBOURNE, FLA. — Capstone Communities has secured financing and begun construction of The Villas at Viera, a 275-unit build-to-rent development in the master-planned Viera community in Brevard County, about 50 miles southeast of Orlando. Capstone Communities is the developer, and CBI Construction is the general contractor. Capstone Properties is overseeing property management. Fifth Dimension Architecture & Interiors is serving as project architect. Villas at Viera is situated on an 18.4-acre parcel and will comprise two four-story apartment buildings, duplexes, carriage houses and cottage-style residences. Amenities will include a clubhouse and …

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Alison-Brown-Lion-Real-Estate
Company NewsNewsPeople NewsSoutheastTennessee

Lion Real Estate Group Hires Alison Brown as COO

by Lynn Peisner

NASHVILLE, TENN. — Lion Real Estate Group, a multifamily investment firm based in Nashville, has hired Alison Brown as president and chief operating officer. Prior to joining Lion, Brown served as president of Bridge Property Management as well as holding the title deputy chief investment officer for Bridge’s workforce and affordable housing strategy. She also was previously senior vice president of operations at LivCor, a Blackstone portfolio company, where she led a nationwide network of more than 50 property management companies. Earlier in Brown’s career, she spent 13 years at …

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The-Waylon-Austin
Architecture & DesignDevelopmentNewsTexas

KTGY, Riverside Open The Waylon in North Austin

by Lynn Peisner

AUSTIN, TEXAS — Architect KTGY and locally based developer Riverside have completed and opened The Waylon, a 300-unit, five-story community in North Austin. The interior designer was Vida Design and Nudge Design was the landscape architect. Amenities include a pool, sky lounge and deck, coworking space, a fitness center with a yoga room and a dog run. The property was developed on a former surface parking lot for an exisiting office property. KTGY is headquartered in Irvine, California and operates offices throughout the United States.

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One-South-Market-San-Jose
CaliforniaInvestment SalesNewsWestern

Kennedy Wilson and Partners Acquire 312-Unit San Jose Community for $176M

by Lynn Peisner

SAN JOSE, CALIF. — Kennedy Wilson has partnered with two Japanese investment firms to acquire One South Market, a 312-unit community in downtown San Jose, for $176 million. The investment partners are Tokyo-based real estate company Hulic Co. Ltd. and Fuyo General Lease (USA) Inc., the U.S. subsidiary of Japanese financial services company Fuyo General Lease Co. Ltd. The acquisition marks Beverly Hills, California-based Kennedy Wilson’s fifth joint venture with Hulic and its first with Fuyo. Locally based Lakevision Capital was the seller. Built in 2015, One South Market is …

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Central-at-the-Horizon-Fargo
Affordable HousingDevelopmentMidwestNewsNorth Dakota

The Annex Group to Develop Affordable Housing Community in Fargo, North Dakota

by Lynn Peisner

FARGO, N.D. — The Annex Group has announced plans for Central at the Horizon, a ground-up affordable housing development at 11 12th St. North in Fargo. The 262 one-, two- and three-bedroom units will be reserved for households earning up to 60 percent of area median income. Central at the Horizon will consist of four stories above a one-story parking garage. Amenities will include community, fitness and business centers, a playground and a picnic area. The architect is BVH Architecture. Multiple stakeholders are funding the project. The North Dakota Housing …

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The-Aurelian-Coral-Gables
DevelopmentFinanceFloridaNewsSoutheast

Pearlmark Provides $81M Construction Loan for The Aurelian in Coral Gables, Florida

by Lynn Peisner

CORAL GABLES, FLA. — Empira Group has obtained an $81 million construction loan to develop The Aurelian, a 160-unit luxury project underway at 114 Calabria Ave. in Coral Gables. Pearlmark was the lender, and CBRE’s Charles Crapse and Denny St. Germain arranged the financing. Behar Font is the architect, and Ortega Construction is the general contractor. The one- and two-bedroom apartments will be complemented by a resort-style pool, fitness center with dedicated yoga studio, coworking areas, a lounge, electric vehicle charging station and a pet grooming suite. Completion is slated …

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The-Standard-at-CityLine-Richardson
FinanceNewsTexas

Northmarq Arranges Refinancing of The Standard at CityLine in Metro Dallas

by Lynn Peisner

RICHARDSON, TEXAS — Northmarq’s Kevin Leamy has arranged a refinancing loan for The Standard at CityLine, a 403-unit mid-rise at 1125 E. Renner Road in Richardson. Price Realty Corp. was the borrower, and New York Life was the lender. The loan amount was not disclosed. Completed in 2015, The Standard at CityLine features one- and two-bedrooms with a pool with cabana and large-screen TVs, courtyard with fireplaces, grills and valet trash pickup.

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