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HARMON-Cedar-Run-Lawrenceville
Build-to-RentDevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens North Atlanta BTR Project

by Lynn Peisner

LAWRENCEVILLE, GA. — Crescent Communities has opened HARMON Cedar Run, a build-to-rent (BTR) community in the North Atlanta suburb of Lawrenceville. HARMON is the Charlotte, North Carolina-based developer’s branded BTR product, offered alongside Crescent’s luxury NOVEL brand and RENDER, a portfolio of branded communities designed to serve middle-market renters. HARMON communities are supported through a joint venture partnership with a separate account managed by Heitman, which recently increased its commitment from $235 million to $345 million. HARMON Cedar Run is situated on 38 acres and is comprised of 151 three- …

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Howland-Redwood-City
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Brokers $24.4 Million Bay Area Sale

by Lynn Peisner

CASTRO VALLEY AND REDWOOD CITY, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the $24.4 million sale of two California assets. Park Tower Townhomes & Apartments, a 52-unit community in Castro Valley, and 280 Howland St., an 18-unit property in Redwood City, represented the upleg of a 1031 exchange completed by an undisclosed buyer who disposed of three other properties to complete the transaction. The deal was arranged by Robert Johnston, Adam Levin and Jessica Tomasetti.

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Travis-Purvis
Company NewsInvestment SalesNewsPeople NewsTexas

NorthPeak Commercial Advisors Opens Houston Office

by Lynn Peisner

HOUSTON — NorthPeak Commercial Advisors, a Denver-based brokerage, has opened a branch in Texas. The firm handles asset acquisitions and dispositions, 1031 exchanges, underwriting and advisory services in the multifamily, office, retail and industrial sectors. The team based out of the new Texas office, located in Houston, specializes in multifamily investments and is led by Travis Purvis, a Texas native with a 31-year career in the oil and gas industry. Licensed Texas broker Matt Lewallen and Partner Kevin Calame also will support the new business.

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GoodHomes-Detroit
Affordable HousingConnecticutFinanceMichiganMidwestNewsNorth CarolinaNortheastRhode IslandSoutheast

Joint Venture Lands $76 Million Bridge Financing for Hotel-to-Multifamily Portfolio

by Lynn Peisner

BALTIMORE — M&T Realty Capital Corp. has provided a $76.2 million bridge loan for the GoodHomes portfolio owned by GoodHomes Communities and PILOT Real Estate Group. The portfolio consists of five former hotel properties that have been converted to workforce housing, totaling 886 units. The properties are located in Detroit, Fayetteville, North Carolina, Groton, Connecticut, and Warwick, Rhode Island. The bridge loan will refinance existing first lien debt and preferred equity, providing the sponsor with the capital needed to complete lease-up and stabilization. Four of the five properties benefit from …

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Pure-St-Peters
BerkadiaFinanceMidwestMissouriNews

Berkadia Arranges $15.4 Million ReFi for Metro St. Louis Community

by Lynn Peisner

ST. PETERS, MO. — Berkadia has arranged a $15.4 million Freddie Mac refinancing loan for Pure St. Peters, a 143-unit community in the northwest St. Louis suburb of St. Peters. Charles Foschini, Christopher Apone and Shannon Wilson of Berkadia Miami secured the financing on behalf of the sponsor, Tilden Legacy Pure St. Peters Apartments LLC. The property was 94 percent occupied at the time of the loan closing. Located at 2100 Pure St., the three-story community was built in 2019 and offers one- and two-bedroom apartments with open-concept layouts. Amenities at …

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The-Clayborn-Medford-Mass
Affordable HousingDevelopmentMassachusettsNewsNortheast

The Davis Cos. Breaks Ground on Industrial Conversion Project in Greater Boston

by Lynn Peisner

MEDFORD, MASS. — Boston-based developer The Davis Cos. broke ground in August on The Clayborn, an industrial-to-multifamily conversion project at 970 Fellsway in Medford, seven miles northwest of Boston. The company bought the 7.9-acre site, which was home to a self-storage facility, in 2019 for $25 million. According to a LinkedIn post quoting Davis, the project cost is approximately $78 million. The development team includes Plumb House as general contractor, Bohler as civil engineer, WSP as mechanical engineer and H+O as the structural engineer. Cube 3 is the project architect, …

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Deer-Chase-Noblesville
IndianaInvestment SalesMidwestNews

Marcus & Millichap Arranges Sale in Metro Indianapolis

by Lynn Peisner

NOBLESVILLE, IND. — Marcus & Millichap has arranged the sale of Deer Chase, a 288-unit property in Noblesville, 34 miles northwest of Indianapolis. The seller was the unidentified original developer, and the buyer was an undisclosed, locally operated company. The property was built in 2004 on approximately 13 acres and includes a unit mix of two-, three- and four-bedroom floor plans, all of which feature private entrances, full-size washers and dryers and exterior storage space. A fitness center, pool, playground and sports courts are among the community’s amenities. The sales …

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The-Brady-Dallas
Investment SalesNewsTexas

Karlin Buys The Brady in Uptown Dallas

by Lynn Peisner

DALLAS — Karlin Real Estate has acquired The Brady, a high-rise property located at 2728 Cedar Springs Road in Uptown Dallas. Karlin has developed and acquired approximately 1,100 multifamily units in Austin, but this is the Los Angeles-based investment firm’s first multifamily acquisition in Dallas. The Brady includes 300 units. Karlin plans to upgrade the property with capital improvements and management services. The acquisition was financed in partnership with Blackstone Real Estate Debt Strategies.

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PresidiumValleyView
DevelopmentNewsOperationsTexas

Presidium Opens Valley View in Farmers Branch, Texas

by Lynn Peisner

FARMERS BRANCH, TEXAS — Texas-based developer Presidium has completed Presidium Valley View, a 348-unit project located in the northern Dallas metro of Farmers Branch. Units come in studio, one-, two- and three-bedroom floor plans and range in size from 573 to 1,631 square feet. Residences are furnished with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property houses a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities include …

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6705-6737-N-California-Ave-Chicago-IL
IllinoisInvestment SalesMidwestNews

Pegasus Arranges $10.8 Million Sale in Chicago

by Lynn Peisner

CHICAGO — Pegasus, a Los Angeles-based real estate advisory firm, has arranged the $10.8 million sale of an eight-building, 94-unit portfolio in Chicago’s Rogers Park neighborhood. The seller was a California-based family office that inherited the property in 2024. The buyer was an undisclosed local multifamily operator completing a 1031-exchange transaction. The buildings are located at 6705 to 6737 N. California Ave. The unit mix includes 36 studios, 55 one-bedrooms and three two-bedrooms. They buyer is planning to self-manage the property and complete renovations.

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