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Centro35 in San Marcos, Texas
Affordable HousingDevelopmentNewsTexas

NRP Group Completes 330-Unit Affordable Housing Development in San Marcos, Texas

by Channing Hamilton

SAN MARCOS, TEXAS — Cleveland-based developer The NRP Group has opened Centro35, a 330-unit affordable housing asset in San Marcos, approximately 50 miles northeast of San Antonio. The NRP Group developed the community in partnership with Capital Area Housing Finance Corp. Centro35 offers one-, two-, three- and four-bedroom apartments for households earning 60 percent or less of the area median income. Amenities include a pool, conference center with individual work pods, fitness center, children’s activity room and a game room. The project was financed with tax credit equity from Huntington …

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Villas at Princeton Lakes in Atlanta
GeorgiaInvestment SalesNewsSoutheast

FCP Sells Villas at Princeton Lakes in Atlanta for $36.8 Million

by Channing Hamilton

ATLANTA — FCP has sold Villas at Princeton Lakes, a 210-unit community located at 751 Fairburn Road SW in Atlanta. A partnership between Monday Properties and RSN Property Group purchased the asset for $36.8 million. Travis Presnell and James Wilber of Cushman & Wakefield represented FCP in the transaction. Villas at Princeton Lakes was constructed in 2004. The garden-style community offers one-, two- and three-bedroom floor plans. FCP originally acquired the property in late 2020 for $30 million, including the assumption of an existing mortgage, and implemented upgrades to the property’s …

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Excel Miami in Miami, Florida
DevelopmentFinanceFloridaNewsSoutheast

Clearline Real Estate Receives $94.5 Million in Construction Financing for 24-Story Tower in Miami

by Channing Hamilton

MIAMI — Clearline Real Estate, an investment and development firm with offices in New York City and Miami, has obtained $94.5 million in financing for the construction of Excel Miami. Clearline is developing the 24-story high-rise community at 1550 N.E. Miami Place in Miami’s Arts & Entertainment District. Centennial Bank provided a $68.5 million senior construction loan for the development. Jay Brito of Centennial Bank facilitated the financing. Additionally, Southern Realty Trust Inc. originated a $26 million mezzanine loan. Excel Miami will offer 427 apartments in studio, one- and two-bedroom …

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DevelopmentNewsNorth CarolinaSoutheast

The Fallon Co. Breaks Ground on 234-Unit The Colwick in Charlotte, North Carolina

by Channing Hamilton

CHARLOTTE, N.C. — Boston-based The Fallon Co. has begun development on The Colwick, a 234-unit community in The Cotswold neighborhood of Charlotte. Units will come in one-, two- and three-bedroom layouts. Amenities will include a pool, coworking space, pet spa and dog park, fitness center and yoga studio, courtyard with activity lawn and fireside lounge, social lounge with game room, bike storage and golf simulator. Santander Bank provided an undisclosed amount of construction financing for The Colwick. Locally based EDIFICE Construction is building the project, which is slated to deliver …

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Affordable HousingFinanceNewsNortheastOperationsWashington, D.C.

FHFA Increases Multifamily Loan Purchase Caps for Fannie Mae, Freddie Mac in 2025

by Channing Hamilton

WASHINGTON, D.C. — The Federal Housing Finance Agency (FHFA) has increased the multifamily loan purchase caps for Fannie Mae and Freddie Mac for their 2025 production. The government-sponsored enterprises (GSEs) will each have caps of $73 billion, or $146 billion combined, which is a four percent increase from the 2024 caps of $70 billion each. Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA), states that the move to increase the cap is fitting due to recent moves by the Federal Reserve, which has twice reduced the federal …

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Flora in Chicago
DevelopmentIllinoisMidwestNews

High Street Residential Completes 34-Story Residential Tower in Chicago

by Channing Hamilton

CHICAGO — High Street Residential, the residential subsidiary of Trammell Crow Co., has completed Flora, a 34-story high-rise project located in Chicago’s Fulton Market district. The community offers 368 apartments in a mix of studio, one-, two- and three-bedroom layouts, alongside penthouse units with condominium-like finishes. Residents at Flora have access to interior amenities such as a clubroom, golf and game simulator room, fitness center and yoga studio, dining area with chef’s kitchen, coworking spaces and a sound recording booth. The community also features an outdoor amenity deck on the second …

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Exchange at St. Augustine in St. Augustine, Florida
FloridaInvestment SalesNewsSoutheast

TriBridge Residential Purchases 312-Unit Community in St. Augustine, Florida

by Channing Hamilton

ST. AUGUSTINE, FLA. — TriBridge Residential has acquired Exchange at St. Augustine, a 312-unit property in St. Augustine, about 40 miles south of Jacksonville, Florida. The garden-style community rises three stories at 250 Moultrie Landing Blvd. Amenities include a pool, fitness center, walking paths and a package locker room. JLL Capital Markets represented the seller, Varden Capital Properties (VCP), in the deal. VCP and Tellus Partners developed the property in 2023. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott led the JLL Capital Markets investment and sales …

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Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

Advantage Capital Provides $53 Million in Financing for Three Affordable Housing Projects in Metro Atlanta

by Channing Hamilton

ATLANTA AND LAWRENCEVILLE, GA. — Advantage Capital has leveraged roughly $53 million in state Low-Income Housing Tax Credits to finance the development of three communities in the Atlanta metropolitan area. The properties total 623 apartments, which will be available to families and seniors earning at or below the area median income. Zimmerman Properties will use the financing to develop The Flats at Stone Hogan, a $99.9 million, 256-unit project, and The Villas at Stone Hogan, a $68.9 million, 192-unit complex for seniors over the age of 55. Both properties are …

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The Riley in Burleson, Texas
Investment SalesNewsTexas

NewStreet Properties, Thane Partners Acquire 178-Unit The Riley in Burleson, Texas

by Channing Hamilton

BURLESON, TEXAS — A joint venture between NewStreet Properties LLC and Thane Partners has acquired The Riley, a 178-unit property in Burleson, approximately 16 miles south of Fort Worth, Texas. Recently completed in 2023, The Riley offers amenities such as a pool, dog spa and park, fitness center, wine bar, Uber pick-up lounge, game area with shuffleboard and a clubhouse with an activity center and coworking offices. Corsair Ventures sold the asset for an undisclosed price. Grant Raymond and Asher Hall of Cushman & Wakefield represented the seller in the …

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Trailside Village in Forks Township, Pennsylvania
DevelopmentNewsNortheastPennsylvania

Larken Associates Breaks Ground on 420-Unit Community in Forks Township, Pennsylvania

by Channing Hamilton

FORKS TOWNSHIP, PA. — Larken Associates has broken ground on Trailside Village, a 420-unit development situated on 37 acres along Sullivan Trail in Forks Township, 20 miles east of Allentown, Pennsylvania. The community will consist of 21 buildings, including 12 garden-style apartment buildings, seven garage buildings and two mixed-use buildings with 26,795 square feet of retail space. Development slated to complete in 2026. Tenants will have access to indoor amenities such as a clubhouse with game room, lounge, work pods, fitness center, pet spa, mailroom package concierge and storage space. …

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