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Portico-Long-Beach
CaliforniaDevelopmentNewsWestern

JPI Breaks Ground on $150 Million First Phase of Mall Redevelopment in Long Beach

by Lynn Peisner

LONG BEACH, CALIF. — JPI has broken ground on Portico, a 272-unit project with 18,841 square feet of ground-level retail. The $150 million development marks Phase I of a master plan for Mosaic, which is the redevelopment of the former City Place Long Beach shopping center. Completion of the eight-story building is slated for June 2028. City Place Long Beach was developed in the 1990s on about 14 acres in downtown Long Beach. The site was cleared earlier this year. Units will be offered as studios through three-bedroom floor plans …

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retreat-at-valencia-Orlando
Affordable HousingFloridaInvestment SalesNewsSoutheast

Avanath Buys Orlando Mixed-Income Community for $73.5 Million

by Lynn Peisner

ORLANDO, FLA. — Avanath Capital Management has acquired Retreat at Valencia in Orlando from an undisclosed seller for $73.5 million. The Irvine, California-based affordable housing investment firm will reserve one half of the property’s 336 units for families earning up to 60 percent of area median income. The remaining 168 units will be rented at market rates. Avanath also plans to provide financial counseling programs, health and wellness initiatives and resident activities and events. Retreat at Valencia was built in 2001 and is comprised of one-, two-, three- and four-bedroom …

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pointe-at-midtown-Raleigh
Investment SalesNewsNorth CarolinaSoutheast

FCP Sells The Pointe at Midtown in Raleigh, North Carolina

by Lynn Peisner

RALEIGH, N.C. — Federal Capital Partners (FCP) has sold The Pointe at Midtown, a 365-unit community at 901 Navaho Drive in the North Hills area of Raleigh. According to the Triangle Business Journal, Kane Realty paid about $72.3 million for a 28-acre site that included The Pointe at Midtown as well as  the Grove Towers office buildings. Chevy Chase, Maryland-based FCP was represented by Hunter Barron, Teddy Hobbs, Ryan Gavigan, Ben Bury and Woody Flythe of JLL in the sale. The Pointe at Midtown offers two- and three-bedroom floor plans and …

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The-Edmond-Denver
ColoradoFinanceNewsWestern

Joint Venture Obtains $54 Million ReFi for Edmond Curtis Park in Denver

by Lynn Peisner

DENVER — JLL has arranged a $54 million loan for borrowers Corum Real Estate Group, Prado Group and Ceolo Capital, owners of Edmond Curtis Park in Denver. The 185-unit property is in the Curtis Park neighborhood, known for 19th century-era houses, restaurants, breweries and galleries. The three-year, floating-rate refinancing loan was provided by Varde Partners. JLL Capital Market’s debt advisory team representing the borrowers was led by Kristian Lichtenfels and Ellie Savage. The Edmond was developed in 2025 on 1.7 acres. Amenities include a secure parking garage, community lounge, a …

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Legends-at-Laurel-Canyon-Canton
GeorgiaInvestment SalesNewsSoutheast

The Milestone Group Buys North Atlanta Community

by Lynn Peisner

CANTON, GA. — Dallas-based The Milestone Group has acquired Legends at Laurel Canyon, a 266-unit garden-style community in the Atlanta suburb of Canton. Legends at Laurel Canyon offers floor plans averaging 1,227 square feet and features a clubhouse, fitness center, resort-style saltwater pool, Amazon Hub Lockers, a car care center, bike racks and a pet park and spa. The gated community is comprised of one-, two- and three-bedroom units. The sales price and seller were not disclosed. The community was developed in 2020 on approximately 27 acres and is located …

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Glengrove-Louisville
DevelopmentFinanceKentuckyNewsSoutheast

Highgates Group Obtains $96.7 Million ReFi for Three Kentucky Assets

by Lynn Peisner

LOUISVILLE, KY. — Walker & Dunlop has arranged $96.7 million in refinancing for three recently built assets in Louisville owned by Highgates Group. Jonathan Zilber, Joel Chetner and Josh Geller secured three floating-rate, interest-only loans from an institutional lender. Proceeds will be used to repay existing debt, fund closing costs and return capital to investors. The properties are comprised of Belmond Flats (240 units), Cedar Creek Flats (168 units) and Glengrove Apartments (232 units). Highgates is a development firm with offices in Kentucky, New Jersey and the United Kingdom.

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Lofts-at-1835-Arch-Philadelphia
FinanceInvestment SalesNewsNortheastPennsylvania

GY Properties Obtains $44 Million Fannie Mae Acquisition Loan for Philadelphia’s The Loft at 1835 Arch

by Lynn Peisner

PHILADELPHIA — Walker & Dunlop has arranged a $44 million Fannie Mae acquisition loan for GY Properties’ purchase of The Lofts at 1835 in Philadelphia. The sale was first announced in November. Originally built in 1928 and redeveloped in 2000, the 17-story, 191-unit building was sold by Brookfield Properties and acquired by an affiliate of locally based GY Properties, which owns a portfolio of assets concentrated in the Mid-Atlantic. According to the Philadelphia Business Journal, the total acquisition cost was $60 million. The new ownership plans to add units to …

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NOVEL-Arlington-Virginia
Affordable HousingBuild-to-RentDevelopmentInvestment SalesNewsNortheastWashington, D.C.

Crescent Communities, Rockefeller Group Partner on D.C. NOVEL Project

by Lynn Peisner

ARLINGTON, VA. — Crescent Communities, in its first partnership with Rockefeller Group, has closed on a land sale for the future development of NOVEL Arlington. Early plans for the community call for 493 apartments and 37 townhomes rented at both affordable and market rates. Rent caps were not disclosed. The site, 5.5 acres at 2480 South Glebe Road, is about 3 miles west of Ronald Reagan Washington National Airport. Two existing hotels on the parcel are expected to be demolished to make way for the LEED Gold-targeted project. Completion is …

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The-Irving-Denver
Affordable HousingColoradoDevelopmentNewsOperationsWestern

ULC Opens Its First Ground-Up Affordable Housing Development in Denver

by Lynn Peisner

DENVER — Urban Land Conservancy (ULC), a Denver-based affordable housing nonprofit, has completed construction and opened The Irving at Mile High Vista in Denver’s West Colfax neighborhood. Located at 3.270 W. Colfax Ave., the 102-unit community serves households earning up to 20 to 80 percent of area median income. With ULC’s ownership of the land through a community land trust, affordability is guaranteed for 99 years. The Irving is adjacent to the Denver Public Library’s Corky Gonzales branch. The architect was Studio Completiva, and the general contractor was Pinkard Construction. …

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Willow-Glen-Illinois
FinanceIllinoisMidwestNews

The Lynd Group Secures $66 Million Refinancing for Willow Glen in Chicago Suburbs

by Lynn Peisner

WILLOW GLEN, ILL. — The Lynd Group has secured a $66 million refinancing for Willow Glen, a 224-unit community in the Chicago suburb of Willow Glen. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million Barclays-originated CMBS senior loan and an $8 million mezzanine loan provided by Ghisallo Capital. Lynd Development, in partnership with West Point Builders, built the project, which opened in 2023.  Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse …

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