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Willow-Glen-Illinois
FinanceIllinoisMidwestNews

The Lynd Group Secures $66 Million Refinancing for Willow Glen in Chicago Suburbs

by Lynn Peisner

WILLOW GLEN, ILL. — The Lynd Group has secured a $66 million refinancing for Willow Glen, a 224-unit community in the Chicago suburb of Willow Glen. The refinancing repays the project’s construction loan and replaces it with a new financing package consisting of a $58 million Barclays-originated CMBS senior loan and an $8 million mezzanine loan provided by Ghisallo Capital. Lynd Development in partnership with West Point Builders, built the project, which opened in 2023.  Willow Glen consists of 188 apartment units and 36 three-story townhomes. Amenities include a clubhouse …

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Residences-at-Prairiefire-Overland-Park
FinanceInvestment SalesKansasMidwestMissouriNews

Northmarq Arranges $65.7 Million Loan for Acquisition of Residences at Prairiefire in Overland Park, Kansas

by Lynn Peisner

OVERLAND PARK, KAN. — Northmarq has arranged a $65.7 million Freddie Mac acquisition loan for sponsor Price Brothers. The locally based owner/operator has acquired Residences at Prairiefire, a 426-unit community that was built in 2014. Neither a total purchase price nor a seller’s name was disclosed. Units are offered as one-, two- and three-bedroom floor plans. Amenities include a cyber café, business center, a pool and poolside lounge with a TV, outdoor kitchen space, a car-care center and package management services. The community is located in the Prairiefire mixed-used district …

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KeyBank-SLC
Affordable HousingDevelopmentFinanceNewsUtahWestern

KeyBank Secures $43.3 Million for Two Salt Lake City Affordable Housing Developments

by Lynn Peisner

SALT LAKE CITY — KeyBank has secured $43.3 million in financing on behalf of the Housing Authority of Salt Lake City for a redevelopment and an adjacent ground-up affordable housing construction project. The projects include Sunrise Metro, a renovation of an existing 100-unit, four-story structure with the addition of 18 new units to the second floor, and Atkinson Stacks, a 100-unit new-construction building. KeyBank Community Development Lending and Investment (CDLI) provided a $27.3 million construction loan. KeyBank’s Commercial Mortgage Group (CMG) also arranged permanent financing with a $16 million Freddie …

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One-West-End-Charlotte
FinanceNewsNorth CarolinaSouth CarolinaSoutheast

Gordon Capital Secures Loans for Two Townhome Communities in the Carolinas

by Lynn Peisner

CHARLOTTE, N.C. and GREENVILLE, S.C. — Walker & Dunlop has arranged $47.8 million in bridge refinancings for two townhome rental communities in North Carolina and South Carolina. Michael Stepniewski, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Brown, Edward Leboyer and Nicholas Gilhooley arranged two floating-rate, interest-only loans provided by ACRES Capital on behalf of borrower Gordon Road Capital. The properties include One West End, an 86-unit community at 2701 Rozzelles Ferry Road in Charlotte and Maybrook Terraces, a 50-unit community located at 206 N. Leach St. in Greenville.

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Vertical-East-Tucson
ArizonaInvestment SalesNewsWestern

Investors Capital Group Acquires Vertical East in Tucson for $22 Million

by Lynn Peisner

TUCSON, ARIZ. — Vertical Street Ventures has sold Vertical East Apartments in Tucson to Seattle-based Investors Capital Group for $22 million. IPA’s Clint Wadlund, Hamid Panahi, Steve Gebing and Cliff David represented the seller. The property was developed in 2001 and is comprised of two- and three-bedroom floor plans. Community-wide amenities include a pool and hot tub, a picnic area and a dog park.

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Rev3-Asheville
Build-to-RentDevelopmentNewsNorth CarolinaSoutheast

Trilogy Investment Breaks Ground on Build-to-Rent Community in Asheville, North Carolina

by Lynn Peisner

ASHEVILLE, N.C. — Trilogy Investment Co. in partnership with Provest Partners has closed on a construction loan and begun construction of REV3 at Pinnacle Meadows, a 73-unit build-to-rent townhome community in Asheville. Trilogy is an Atlanta-based investment and development firm, and Provest Partners is a Korean investment firm. REV3 will feature two- and three-bedroom townhomes, each with a one-car garage. REV3 Homes, a division of Trilogy Investment Co., will serve as the builder for the project. Completion is slated for the second quarter of 2027.

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Bell-Trelago-Maitland
FloridaInvestment SalesNewsSoutheast

Bell Partners Buys Trelago in Greater Orlando for $111 Million

by Lynn Peisner

MAITLAND, FLA. — Bell Partners has purchased Trelago, a 350-unit community in Maitland, eight miles north of Orlando. The property has been renamed Bell Trelago. According to the Orlando Business Journal, the sales price was $111.3 million, and the seller was Kettler Inc. Developed in 2019, Bell Trelago is situated on 20 acres on Lake Hope. It is part of the Trelago mixed-used development that includes 135,000 square feet of retail including a future Trader Joe’s store. Walker & Dunlop arranged the sale. With this acquisition, Greensboro, North Carolina-based Bell …

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maddox-sunnyvale-California
CaliforniaInvestment SalesNewsWashingtonWestern

IEC, PGIM Buy Four-Property Portfolio for $272 Million

by Lynn Peisner

LOS ALTOS, CALIF. — Interstate Equities Corp. (IEC), a Los Altos-based investor specializing in value-add assets in California and the Seattle metro area, has acquired a four-property portfolio for $272 million with joint venture partner PGIM. Mesa West Capital provided a $201.5 million acquisition loan arranged by Eastdil Secured. The assets, developed between 1987 and 2015, are The Maddox (184 units) in Sunnyvale, California; Catalyst Mountain View (149 units) in Mountain View, California; Cirrus Redwood City (141 units) in Redwood City, California; and Cumulus SLU (100 units) in Seattle. IEC …

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The-Beacon-at-Pfluger-Farm-Pflugerville
Investment SalesNewsTexas

Virga Capital Buys The Beacon at Pfluger Farm in Metro Austin

by Lynn Peisner

PFLUGERVILLE, TEXAS — Virga Capital, a development and investment firm based in Bozeman, Montana, has acquired The Beacon at Pfluger Farm in the Austin suburb of Pflugerville, about 22 miles northeast of the city. The seller was not disclosed. The three-story garden-style community was built in 2022 and includes one-, two- and three-bedroom units complemented by amenities that include a resort-style pool, two fitness centers, a clubhouse, coworking and lounge spaces, private garages and outdoor gathering areas. Dallas-based Valiant Residential has been selected to manage the property.

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Columbus-Park-Omaha
Affordable HousingDevelopmentMidwestNebraskaNews

The Annex Group Breaks Ground on $60 Million Affordable Housing Community in Omaha

by Lynn Peisner

OMAHA, NEB. — The Annex Group has broken ground on Central at Columbus Park, a 156-unit affordable housing community at 1031 S. 21st St. in Omaha. The one-, two-, three- and four-bedroom units will be reserved for households earning a wide range of incomes, starting with families earning no more than 30 percent of area median income. Project partners include BVH Architecture, Lange Structural Group, Engineering Technologies Inc., REGA Engineering, Terracon, RMD Group, Wells Fargo, NP Dodge, Nebraska Investment Finance Authority, Front Porch Investments and the City of Omaha. The …

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