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The-Hazel-Jersey-City
FinanceNew JerseyNewsNortheast

Alpine Residential Refinances The Hazel in Jersey City with $72 Million Loan

by Lynn Peisner

JERSEY CITY, N.J. — JLL has arranged a $72 million loan through Truist Bank on behalf of Alpine Residential and Fields Grade for the refinancing of The Hazel, a 201-unit luxury community in Jersey City. The Hazel was developed in two phases. The 114-unit first phase was completed in late 2024, and the 87-unit second phase wrapped in late 2024. The seven-story mid-rise community features 190 market-rate and 11 affordable units in a mix of studio, one- and two-bedroom layouts. Tenants must earn more than 50 percent of area median …

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Lisbon-Court-Milwaukee
Investment SalesMidwestNewsWisconsin

Metropolitan Associates Sells Milwaukee Portfolio for $29.7 Million

by Lynn Peisner

MILWAUKEE — CBRE has arranged a portfolio comprised of four Milwaukee properties for $29.7 million. Locally based Metropolitan Associates sold the portfolio to Brookfield, Wisconsin-based Coachlight Communities. The assets are Parkview Apartments (232 units), Lisbon Court (71 units), Hampton Gardens (30 units), and Grantosa Apartments (25 units). Metropolitan developed the properties in the 1960s and has owned them since then. CBRE’s Matson Holbrook, Gretchen Richards, Sean Beuche and Patrick Gallagher represented the seller in the transaction.

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Wrenly-Newnan
DevelopmentGeorgiaNewsSoutheast

Thompson Thrift to Develop Wrenly in Suburban Atlanta

by Lynn Peisner

NEWNAN, GA. — Thompson Thrift will develop Wrenly, a 214-unit property in Newnan, 40 miles southwest of downtown Atlanta. Indiana-based Thompson Thrift expects to welcome residents by April 2027 with full construction completion slated for early 2028. The 29-acre community will consist of six residential buildings with units offered as one-, two- and three-bedroom floor plans. Amenities include a 24-hour fitness center, a pool with a waterfall feature, a firepit with seating areas, grills, a pickleball court, a dog park and a business center.

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Verbena-at-Waterview-Richmond-Texasw
DevelopmentNewsTexas

JV Breaks Ground on Multifamily Project in Suburban Houston’s Waterview Town Center  

by Lynn Peisner

RICHMOND, TEXAS — Locally based Read King and Austin, Texas-based Wayfinder Real Estate have begun construction of Verbena at Waterview in Richmond, 30 miles southwest of Houston. The joint venture anticipates delivering the clubhouse and first units by the third quarter of 2026 with full build out slated for July 2027. Verbena at Waterview is situated on approximately 14 acres within the 134-acre Waterview Town Center retail destination. The community will feature one-, two- and three-bedroom units featuring balconies, patios or yards and such amenities as a resort-style pool, a …

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Morgan-Bay-Houston
Investment SalesNewsTexas

Eastham Capital Sells Two Suburban Houston Assets

by Lynn Peisner

HOUSTON — Eastham Capital has sold two value-add properties about 14 miles apart from each other in the northern ring of the Houston suburbs. The Boca Raton, Florida-based private equity firm purchased Kensington Crossing in 2018 and Morgan Bay in 2019 as part of the Eastham Capital Fund V portfolio alongside joint venture partner Mosaic Residential. Kensington Crossing Apartments includes a mix of one-, two- and three-bedroom units ranging from 759 to 1317 square feet. Morgan Bay Apartments includes a mix of one and two-bedroom units ranging from 561 to …

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Novel-Nona-Orlando
FloridaInvestment SalesNewsSoutheast

Crescent Communities Sells NOVEL Nona in Orlando

by Lynn Peisner

ORLANDO, FLA. — Crescent Communities has sold NOVEL Nona to an undisclosed private real estate management company. The Charlotte, North Carolina-based developer broke ground on the 260-unit, wellness-focused community in 2021. NOVEL Nona, located in Orlando’s Lake Nona area, features a fitness center with a dedicated studio for yoga and spin classes, coworking spaces, a saltwater pool with cabanas, bike storage, walking trails, a conservation area, a top-floor lounge with TVs and a craft cocktail bar, two courtyards, firepits and grills. Units feature circadian lighting (tunable lighting that mimics the …

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Laster-Farms-Farragut
DevelopmentNewsSoutheastTennessee

Trinitas, Millstone to Develop $80 Million Community in Suburban Knoxville

by Lynn Peisner

FARRAGUT, TENN. — Trinitas Ventures and Millstone will develop Laster Farms at Turkey Creek in Farragut, 18 miles west of Knoxville, Tennessee. The $80 million development will include 240 units in one-, two- and three-bedroom layouts with monthly asking rents ranging from $1,800 to $2,800. Both joint venture partners are based out of Indiana. Millstone, a development and construction firm, identified and entitled the site and will serve as the general contractor. The developers closed on financing for the project in November. A completion date was not disclosed. Amenities will …

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HaverstockHills-Houston
Affordable HousingDevelopmentInvestment SalesNewsTexas

Fairstead Acquires Houston Affordable Housing Property, Plans Redevelopment for $242 Million Total Investment

by Lynn Peisner

HOUSTON — Fairstead has acquired Haverstock Hills Apartments in Houston’s East Aldine neighborhood. The New York City-based affordable housing developer will renovate the 700-unit property over the next 24 months. The redevelopment and acquisition costs came to $242 million. PNC Multifamily Capital was the debt and equity provider. Harris County Housing Finance Corp. and Rainbow Housing Corp. will continue to provide on-site social services. Located at 5619 Aldine Bender Road, Haverstock Hills comprises 44 two- and three-story buildings spanning 22 acres. Residences include a mix of studios, one-, two- and …

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Pearl-Lake-Point-Sugar-Land
DevelopmentNewsTexas

Morgan, Carlyle Begin Construction of Pearl Lake Point in Sugar Land

by Lynn Peisner

SUGAR LAND, TEXAS — Locally based Morgan, along with partner Washington, D.C.-based Carlyle, has begun construction of Pearl Lake Point, a luxury property at 16435 Creekbend Drive in the southwest Houston suburb of Sugar Land. Pearl Lake Pointe will be a five-story community comprising 376 apartments — including five live-work units — across 6.5 acres. Residents will have access to a resort-style pool, fitness centers, a golf simulator, a fifth-floor sky lounge and a first-floor café. The site also includes 9,940 square feet of commercial office space and a six-story …

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702-Manufacturers-Rd-Chattanooga
Affordable HousingDevelopmentFinanceNewsSoutheastTennessee

American South Capital Partners Commits $24 Million in Equity to Chattanooga Workforce Development

by Lynn Peisner

CHATTANOOGA, TENN. — American South Capital Partners (ASCP) has contributed $24 million in equity to Atlantic Cos.’ workforce housing development project, known as 702 Manufacturers Road, in the Northshore area of downtown Chattanooga. The 278-unit community located on the Tennessee River will include 42 units set aside for renters earning up to 60 or 80 percent of area median income. Completion is slated for the fourth quarter of 2027. Residents will have direct access to a newly built multi-use path and a river launch pad for paddleboards and kayaks. ASCP’s …

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