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New-Californian-WEB
CaliforniaFinanceNewsWestern

Hudson McDonald Secures $60M Refinancing for Two Berkeley Assets

by Lynn Peisner

BERKELEY, CALIF. — Hudson McDonald, a locally based builder, developer and investor specializing in apartments and student housing, has obtained $60 million to refinance two Berkeley communities, New Californian and The Metropolitan. CBRE arranged the 10-year, fixed-rate agency loan. Mike Walker, Jesse Weber, Brad Zampa and Andrew Behrens led the transaction. New Californian is a 148-unit mixed-use building that features 15,778 square feet of retail anchored by Trader Joe’s and Café Etoile. The property, located at 1988 Martin Luther King Jr. Way, was developed in 2010. Twenty-two of the apartments are …

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Ellevate-North-Charleston
Affordable HousingFinanceNewsSouth CarolinaSoutheast

Eller Capital Secures $58M Refinancing for Two North Charleston Properties

by Lynn Peisner

NORTH CHARLESTON, S.C. — Eller Capital Partners has obtained a $58 million loan to refinance two properties, about half a mile apart from each other, in North Charleston. Walker & Dunlop’s Walker Layne, Matt Wallach, Stephen West, Austin Sneed and Tyler Roberts arranged the floating-rate interest-only bridge senior debt loan with capital provided by Bridge Investment Group. Ellevate St. Ives is comprised of 248 units. Ellevate North Charleston offers 192 units. Both properties participate in South Carolina’s affordable housing tax abatement program, with 75 percent of units restricted at 80 percent …

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Corner-63-Seattle
Investment SalesNewsWashingtonWestern

CBRE Arranges $59.3M Sale of Corner 63 in Seattle

by Lynn Peisner

SEATTLE — CBRE has arranged the $59.3 million sale of Corner 63 Apartments in Seattle’s Roosevelt neighborhood. Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented the seller, High Street Residential, the residential subsidiary of Trammell Crow Co., in the transaction. The buyer’s identity was not disclosed. Located at 6300 9th Ave. NE, Corner 63 is a seven-story, mid-rise community completed in 2023. The property offers a mix of studio, one- and two-bedroom units. Amenities include a rooftop terrace, fitness center, coworking lounge, dog run …

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The-Foundry-Frederick
Build-to-RentCompany NewsLeasing & MarketingMarylandNewsNortheastOperations

JAG Tapped to Manage The Foundry at Renn Quarter in Frederick, Maryland

by Lynn Peisner

FREDERICK, MD. — JAG Management Co. has been selected by Couloir Ventures to manage the build-to-rent (BTR) townhome community The Foundry at Renn Quarter in Frederick. Couloir is a Bethesda, Maryland-based developer focused on building BTR projects in the metro Washington, D.C., area. JAG Management provides property management services for both Jefferson Apartment Group (JAG)-owned assets as well as third-party-owned communities on the East Coast. JAG is headquartered in McLean, Virginia. A portion of the residences at The Foundry at Renn Quarter are now complete, and residents have begun moving …

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Drew-McWilliams-Greysteel
Affordable HousingCompany NewsInvestment SalesNew YorkNewsNortheast

Drew McWilliams Tapped to Lead New York Affordable Housing Advisory for Greysteel

by Lynn Peisner

NEW YORK CITY — Greysteel has hired Drew McWilliams to lead affordable housing advisory and transaction efforts in New York and other regional markets. He will provide investment sales, debt and structured finance services as well as preservation and tax-credit syndication counsel to owners, developers and institutional investors. McWilliams joins Greysteel from New York City-based Ariel Property Advisors where he served as associate director.

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Ekos-at-Warrington-McDowell
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners to Build $41.9M Affordable Housing in Pensacola

by Lynn Peisner

PENSACOLA, FLA. — McDowell Housing Partners has announced plans for Ekos at Warrington, a $41.9 million affordable housing community in Pensacola. Construction is slated for completion by the third quarter of 2027. The 120 units at Ekos at Warrington will be reserved for tenants earning between 40 and 60 percent of area median income. Fifty percent of the units will be set aside for active-duty military members, veterans and their families. Half of those units, representing 5 percent of the total project, will be reserved for veterans experiencing homelessness. The …

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Emi-on-50-Orlando
DevelopmentFinanceFloridaNewsSoutheast

Terian Development Closes on Financing, Breaks Ground on Emi on 50 in Orlando

by Lynn Peisner

ORLANDO, FLA. — Terian Development, the development arm of Terian Group, has broken ground on Emi on 50 in Orlando after securing a construction loan for an undisclosed sum through lender PCCP. JLL arranged the financing. The 336-unit mid-rise project is slated for completion in 2028. Emi on 50 includes studios, one-, two- and three-bedroom units as well as townhomes. Amenities feature a rooftop pool and terrace, a ninth-floor pickleball court, a courtyard, coworking spaces and a speakeasy-inspired lounge. The property will be managed by Willow Bridge Property Co.

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DevelopmentFinanceNewsSoutheastVirginia

HGI, Middleburg Break Ground on Scottwood in Richmond

by Lynn Peisner

RICHMOND, VA. — Middleburg and Harbor Group International have secured an undisclosed sum of construction financing to build Scottwood, a 299-unit property in Richmond. Construction is underway with completion slated for 2027. Truist Bank funded the loan. Henrico County has designated the area surrounding Scottwood as a special focus area for mixed-use development. The community will consist of two four-story buildings, one with 132 units and the other with 167, as reported by Richmond BizSense.

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heritage-point-Buffalo
DevelopmentFinanceNew YorkNewsNortheast

JLL Arranges $26M in Construction Financing for Buffalo Mixed-Use Project

by Lynn Peisner

BUFFALO, N.Y. — JLL has arranged approximately $26 million in construction financing for Heritage Point, a mixed-use development in Buffalo that includes 61 apartments. The capital stack consists of a $14.8 million construction loan from lender X-Caliber and $11.2 million in Commercial Property Assessed Clean Energy (C-PACE) financing from CastleGreen Finance. Locally based Sinatra & Co. is the developer and will pursue LEED certification. Located at 120 Main St., Heritage Point will include two six-story properties. Completion is slated for the third quarter of 2027. The JLL Capital Markets team …

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HSR-Tokyu-Richardson
DevelopmentNewsTexas

High Street Residential, Tokyu Land Corp. Begin 281-Unit Project in Downtown Richardson, Texas

by Lynn Peisner

RICHARDSON, TEXAS — High Street Residential, a division of Trammell Crow Co., and Tokyo-based Tokyu Land Corp. have broken ground on a 281-unit property located at 110 E. Polk St. in Richardson. The City of Richardson provided an undisclosed sum of tax-increment financing. Completion is slated for the fourth quarter of 2027. Situated on a 3-acre site, the community will replace two existing buildings and a surface parking lot. Units will be built in studio through two-bedroom layouts, and amenities will include a clubroom, coworking areas, resort-style pool, grilling stations, …

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