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Phase II of Midway Village
CaliforniaFinanceNewsWestern

Wells Fargo Provides $162.9 Million in Financing for Affordable Housing Project in Daly City, California

by Channing Hamilton

DALY CITY, CALIF. — Wells Fargo has provided a total of $162.9 million in financing for Phase II of Midway Village, an affordable housing project in Daly City, roughly 8 miles south of San Francisco. MidPen Housing Corp. is the borrower and developer. Phase II of Midway Village will consist of 113 units of affordable housing within one mid-rise building. Wells Fargo also provided financing for the first phase of the project, which features 147 units. Phase I of the community opened in fall 2023. The community will be rent …

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Kasey Archey
CaliforniaNewsOperationsPeople NewsWestern

EAH Housing Appoints Kasey Archey as Senior Vice President

by Channing Hamilton

SAN RAFAEL, CALIF. — EAH Housing has appointed Kasey Archey to the role of senior vice president of real estate management. In this position, Archey will oversee EAH Housing’s property management department and ensure the viability of the organization’s affordable housing assets in California and Hawaii. Before joining EAH Housing, Archey served as senior vice president of property management for MidPen Housing. Additionally, she served as vice president of property operations at Eden Housing Management. Across her previous roles, she was responsible financial reporting, government and community engagement, capital improvement …

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The Fenwick
Investment SalesNewsTexas

Joint Venture Acquires 258-Unit Community in Metro Houston

by Channing Hamilton

HUMBLE, TEXAS — A joint venture between Fogelman Properties and Thackeray Partners has acquired The Fenwick, a 258-unit community in Humble, roughly 20 miles north of Houston. Formerly known as Advenir at Eagle Creek, the property offers one-, two- and three-bedroom apartments. Monthly rates start at $1,094. The community is currently 91 percent occupied and will be managed by Fogelman. The new ownership plans to renovate the property with updates to the interior units, amenity areas, clubhouse, dog park and landscaping. 

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HARMON Jefferson Village
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Crescent Communities Breaks Ground on BTR Project in Greensboro, North Carolina

by Channing Hamilton

GREENSBORO, N.C. — Crescent Communities has broken ground on HARMON Jefferson Village, a 130-unit build-to-rent townhome community situated on 16 acres in Greensboro. The community will offer three- and four-bedroom townhomes ranging from 1,650 to 2,165 square feet. HARMON Jefferson Village is set to open in summer 2025. Residents will have access to amenities such as a pool with a pavilion and grilling station, event lawn for gatherings and trailhead access for outdoor recreation. An account managed by Heitman LLC is the equity partner on the project. The development team …

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32-34 Walker St. in New York City
FinanceNew YorkNewsNortheast

Partnership Receives $32 Million in Financing for Manhattan Adaptive Reuse Project

by Channing Hamilton

NEW YORK CITY — A partnership between Urban Capital Group and Prosper Property Group has secured $32 million in financing for an adaptive reuse project in Manhattan’s Tribeca area. The borrower will use the proceeds to acquire and convert a former textile warehouse into a five-unit residential building with ground-floor retail space. Units will come in three- and floor-bedroom floor plans and will average 3,500 square feet. Local lender and private equity firm Kriss Capital provided the financing. Andy Iadeluca of New Development Capital arranged the debt. The design team …

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5641 W. 103rd St. in Oak Lawn
IllinoisInvestment SalesMidwestNews

Interra Realty Arranges Two Sales Totaling 53 Units in Suburban Chicago

by Channing Hamilton

DOLTON AND OAK LAWN, ILL. — Interra Realty has arranged two sales in suburban Chicago totaling 53 units. A three-building, 41-unit portfolio in Dolton traded hands for $3.2 million. The portfolio was nearly fully leased at the time of the deal. Half of the units have recently undergone full or partial renovations, including new laminate flooring and updated kitchens. Additionally, a 12-unit building located at 5641 W. 103rd St. in Oak Lawn transacted for $1.8 million. The Oak Lawn asset was fully leased at the time of sale. Michael Duckler of …

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Parkview
Investment SalesNewsWashingtonWestern

Nearon Enterprises Buys Parkview in Olympia, Washington

by Channing Hamilton

OLYMPIA, WASH. — Nearon Enterprises has acquired Parkview, a 72-unit property located within the 137-acre Briggs Village master-planned community in Olympia, approximately 60 miles south of Seattle. The Walnut Creek, California-based investment company acquired the asset from its original developer, Amoroso Cos. Completed in 2012, Parkview offers a mix of one-, two- and three-bedroom apartments. The average unit size is 1,036 square feet. Residents have access to shared amenities including bike storage, a fenced dog run, and package lockers. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of Institutional …

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Park5 Luxury Rental Townhomes
Build-to-RentDevelopmentFinanceIllinoisMidwestNews

VennPoint Secures $55.6 Million in Financing for BTR Project in Chicago Suburb

by Channing Hamilton

DEERFIELD, ILL. — Schaumburg, Illinois-based investment firm VennPoint Real Estate has received $45.7 million in construction financing and $9.9 million in mezzanine financing for Park5 Luxury Rental Townhomes in Deerfield, 30 miles north of downtown Chicago. Located at 5 Parkway N, the build-to-rent (BTR) community consists of 144 units. Park5 Luxury Rental Townhomes offers two- and three-bedroom residences averaging 1,953 square feet. Each townhome will feature two-car attached garages, multi-level floor plans, yards and outdoor space. A construction timeline was not disclosed. Matthew Schoenfeldt and Mary Dooley of JLL Capital …

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Holly Oaks
Investment SalesMarylandNewsNortheast

Kislak Brokers $15.9 Million Sale of Property in Aberdeen, Maryland

by Channing Hamilton

ABERDEEN, MD. — The Kislak Co. Inc., a Woodbridge, New Jersey-based brokerage firm, has arranged the sale of Holly Oaks in Aberdeen, about 31 miles northeast of Baltimore. Built in 2023, the garden-style community consists of five buildings with 12 units in each building. Holly Oaks offers two- and three-bedroom apartments that range from 1,100 to 1,400 square feet. All units feature a patio or balcony, washers and dryers and walk-in closets. Barry Waisbrod and Matt Wolf of Kislak marketed the property. Robert Holland procured the undisclosed New Jersey-based buyer, …

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Investment SalesNewsTexas

Joint Venture Acquires Mixed-Use Property in Dallas

by Channing Hamilton

DALLAS — A joint venture between Discover Multifamily and The Rainier Cos. has acquired 1001 Ross, a 204-unit mixed-use community in the West End District of Dallas. Built on the corners of Ross and Lamar Ave. in 2004, the development also features 30,506 square feet of ground-floor retail space. The new ownership plans to rebrand the property as The Griffin and conduct exterior and interior renovations.

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