Northeast

Camelot-West-Middlesex-County
Affordable HousingFinanceNew JerseyNewsNortheast

JLL Arranges $47.5 Million Refinancing for Kaplan’s Camelot West at Townelake Project in New Jersey

by Lynn Peisner

SAYREVILLE, N.J. — JLL has arranged a $47.5 million refinancing loan through a regional bank secured by Camelot West at Townelake. The newly delivered 176-unit luxury property was developed by sponsor Kaplan Cos. and consists of seven residential buildings. The luxury mid-rise community offers 166 market-rate units and 10 units reserved for tenants earning up to 80 percent of area median income. Floor plans are offered in one-, two- or three-bedroom options. Amenities include a fitness center, a pool, lounge area with a coffee bar, a parcel room, a barbecue …

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Denver-Dry-Goods
Affordable HousingDevelopmentFeaturesFinanceMidwestNortheastSoutheastTexasWestern

Creative Capital Strategies Drive Today’s Affordable Housing Deals

by Lynn Peisner

Skillful players are leveraging a bevy of public and private funding sources to get projects across the finish line. By Jack Rogers As costs of affordable housing projects continue to rise, developers are meeting the challenge by pulling together a resilient capital stack with a growing range of sources for gap financing, bridge loans and grants. They’re also diversifying the range of projects they undertake and mitigating their costs by redeveloping underutilized publicly owned property, acquiring leases for sites that are being rezoned to housing from other uses and with …

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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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The-Bellevue-Hyattsville
DevelopmentMarylandNewsNortheastOperationsWashington, D.C.

EJF Capital Completes The Bellevue in Hyattsville, Maryland

by Lynn Peisner

HYATTSVILLE, MD. — EJF Capital has completed construction of The Bellevue, a 361-unit community in Hyattsville, about 7 miles northwest of Washington, D.C. The Opportunity Zone project was developed in partnership with The NRP Group. The Bellevue features studios, one-, two- and three-bedroom floor plans. Amenities include a fitness center, a coworking lounge, landscaped courtyards and structured parking.

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Wholey-Legacy-Homes-Arlington
Affordable HousingDevelopmentNewsNortheastVirginiaWashington, D.C.

True Ground Housing Partners Opens D.C. Metro Affordable Housing Redevelopment

by Lynn Peisner

ARLINGTON, VA. — True Ground Housing Partners, formerly known as APAH, has opened Wholey Legacy Homes in the Washington, D.C., metro city of Arlington. The project was a redevelopment of a 1-acre portion of the Marbella Apartments site, formerly home to 31 units. The new Wholey Legacy Homes replaces that property and includes 234 units throughout a new 12-story building. The community is located in Arlington’s Rosslyn neighborhood. Wholey Legacy Homes houses 84 one-bedroom, 100 two-bedroom and 50 three-bedroom apartments. The 148,500-square-foot building also features 110 underground parking spaces, an …

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Brian-Killinger-Gilbane
Company NewsMassachusettsNewsNortheastPeople NewsRhode Island

Gilbane Appoints Brian Killinger Head of Asset Management

by Lynn Peisner

PROVIDENCE, R.I. — Gilbane Development has hired Brian Killinger as head of asset management, a role that requires oversight and growth of a national portfolio of more than 8,000 multifamily units, 3,550 purpose-built student housing beds as well as other retail and office assets. Prior to joining Providence-based Gilbane, Killinger directed a regional portfolio of 200 multifamily properties consisting of approximately 70,000 apartments in the Eastern United States in his capacity as senior vice president, asset management, at LivCor, a Chicago-based subsidiary of The Blackstone Group. Killinger works out of …

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The-West-West-Orange
Investment SalesNew JerseyNewsNortheast

JLL Arranges $41 Million Sale in West Orange, New Jersey

by Lynn Peisner

WEST ORANGE, N.J. — JLL has arranged the sale of and acquisition financing for The West, a 70-unit community in West Orange. JLL worked on behalf of the seller, a joint venture between Varma Real Estate and Garas Development, and also represented the buyer, a joint venture between Invel Capital and Pearlmark Real Estate. JLL secured a $27.5 million loan for the buyer through a life insurance company. The asset traded for a total of $40.8 million. Built in 2023, The West features one- to three-bedroom floor plans and amenities …

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Riverdale-Tower-Bronx
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Berkadia Arranges $32.4 Million Loan for The Stagg Group

by Lynn Peisner

NEW YORK CITY — Berkadia has arranged a $32.4 million Freddie Mac construction take-out loan on behalf of The Stagg Group. The affordable housing developer, owner and investor will use the funds to retire the existing construction loan on The Riverdale Tower. The 89-unit property is 100 percent occupied. Berkadia’s Matt Nihan arranged the financing. Located at 3745 Riverdale Ave., The Riverdale Tower was completed in 2024 and is an 18-story high-rise offering a mix of studio, one- and two-bedroom units ranging from 400 to 900 square feet. The property …

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Lockwood-Plaza-Townhomes-Providence
Affordable HousingDevelopmentNewsNortheastRhode Island

WinnCos. Completes Affordable Housing Redevelopment in Providence

by Lynn Peisner

PROVIDENCE, R.I. — WinnDevelopment, the development arm of WinnCos., has completed the $29.3 million renovation of 17 townhouse-style buildings at Lockwood Plaza Apartments in Providence. The redevelopment, completed in partnership with the City of Prividence and RIHousing, extends affordability at the property for 40 years. RIHousing is an agency created by the state legislature in 1973 to provide financing and resources to help Rhode Islanders afford housing through loans, grants, education and assistance. Multiple funding partners were involved, including Citizens Bank, which provided construction financing and Low-Income Housing Tax Credit …

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Mansions-at-Riverside-Tulsa
Company NewsInvestment SalesKentuckyMidwestNewsNortheastOhioOklahomaSoutheast

Morgan Properties Buys Dream Residential REIT for $345 Million

by Lynn Peisner

CONSHOHOCKEN, PA. — Morgan Properties has acquired Dream Residential Real Estate Investment Trust, a public Canadian REIT, for $345 million. Acquisition of the Toronto-based REIT included 15 properties now privately owned by Conshohocken-based Morgan Properties. The properties comprise 3,300 units in metro areas throughout Texas, Ohio, Kentucky and Oklahoma. Morgan will invest $58 million in interior and exterior enhancements and amenity upgrades in the 15 communities, which were developed between 1968 and 2002. In 2025, Morgan has completed $1.5 billion in acquisitions, comprising approximately 14,000 units and 80 properties. TD …

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