WORCESTER, MASS. — MassDevelopment, Massachusetts’ development finance agency and land bank, has issued a $38 million tax-exempt bond to Tremont Development Partners to finance the first phase of the redevelopment of the Worcester Housing Authority’s Lakeside Apartments community in Worcester. The site’s existing buildings that were originally built in 1949 will be demolished and replaced with two new buildings containing 116 units. Twenty-nine units will be reserved for households earning up to 60 percent of area median income (AMI) and 87 units will be earmarked for households earning no more …
RALEIGH, N.C. — Tishman Speyer has acquired The Maggie, a 244-unit community adjacent to North Carolina State University in Raleigh. The property sits on 2.8 acres and was developed in 2014. Located at 401 Oberlin Road, The Maggie is in Raleigh’s Village District, a mixed-use destination with pedestrian-friendly streets, a series of parks and about 100 stores and restaurants. The community features a unit mix ranging from studios to three-bedrooms above 9,000 square feet of street-level retail. Amenities include a fitness center, saltwater pool, a business center, a lounge, golf …
NORTH LAS VEGAS, NEV. — Walker & Dunlop has arranged a $75 million loan to refinance North Park Living, a 380-unit property in North Las Vegas. SRB Living was the borrower. Benefit Street Partners was the lender for the floating-rate, interest-only loan. Walker & Dunlop’s team was led by Justin Nelson, Eric Norris, PJ Feichtmeier and Jared Diedrich. North Park Living consists of one-, two- and three-bedroom floor plans and amenities such as business and fitness centers, a resort-style pool, indoor and outdoor resident lounges and an entertaining kitchen and …
RALEIGH, N.C. — Federal Capital Partners (FCP) has sold The Pointe at Midtown, a 365-unit community at 901 Navaho Drive in the North Hills area of Raleigh. According to the Triangle Business Journal, Kane Realty paid about $72.3 million for a 28-acre site that included The Pointe at Midtown as well as the Grove Towers office buildings. Chevy Chase, Maryland-based FCP was represented by Hunter Barron, Teddy Hobbs, Ryan Gavigan, Ben Bury and Woody Flythe of JLL in the sale. The Pointe at Midtown offers two- and three-bedroom floor plans and …
DENVER — JLL has arranged a $54 million loan for borrowers Corum Real Estate Group, Prado Group and Ceolo Capital, owners of Edmond Curtis Park in Denver. The 185-unit property is in the Curtis Park neighborhood, known for 19th century-era houses, restaurants, breweries and galleries. The three-year, floating-rate refinancing loan was provided by Varde Partners. JLL Capital Market’s debt advisory team representing the borrowers was led by Kristian Lichtenfels and Ellie Savage. The Edmond was developed in 2025 on 1.7 acres. Amenities include a secure parking garage, community lounge, a …
CANTON, GA. — Dallas-based The Milestone Group has acquired Legends at Laurel Canyon, a 266-unit garden-style community in the Atlanta suburb of Canton. Legends at Laurel Canyon offers floor plans averaging 1,227 square feet and features a clubhouse, fitness center, resort-style saltwater pool, Amazon Hub Lockers, a car care center, bike racks and a pet park and spa. The gated community is comprised of one-, two- and three-bedroom units. The sales price and seller were not disclosed. The community was developed in 2020 on approximately 27 acres and is located …
PHILADELPHIA — Walker & Dunlop has arranged a $44 million Fannie Mae acquisition loan for GY Properties’ purchase of The Lofts at 1835 in Philadelphia. The sale was first announced in November. Originally built in 1928 and redeveloped in 2000, the 17-story, 191-unit building was sold by Brookfield Properties and acquired by an affiliate of locally based GY Properties, which owns a portfolio of assets concentrated in the Mid-Atlantic. According to the Philadelphia Business Journal, the total acquisition cost was $60 million. The new ownership plans to add units to …
ARLINGTON, VA. — Crescent Communities, in its first partnership with Rockefeller Group, has closed on a land sale for the future development of NOVEL Arlington. Early plans for the community call for 493 apartments and 37 townhomes rented at both affordable and market rates. Rent caps were not disclosed. The site, 5.5 acres at 2480 South Glebe Road, is about 3 miles west of Ronald Reagan Washington National Airport. Two existing hotels on the parcel are expected to be demolished to make way for the LEED Gold-targeted project. Completion is …
DENVER — Urban Land Conservancy (ULC), a Denver-based affordable housing nonprofit, has completed construction and opened The Irving at Mile High Vista in Denver’s West Colfax neighborhood. Located at 3.270 W. Colfax Ave., the 102-unit community serves households earning up to 20 to 80 percent of area median income. With ULC’s ownership of the land through a community land trust, affordability is guaranteed for 99 years. The Irving is adjacent to the Denver Public Library’s Corky Gonzales branch. The architect was Studio Completiva, and the general contractor was Pinkard Construction. …
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 …