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North Park Nest
CaliforniaFinanceNewsWestern

Naturally Affordable Housing Secures $10.1 Million Bridge Financing for San Diego Asset

by Channing Hamilton

SAN DIEGO — Locally-based Naturally Affordable Housing has received $10.1 million in construction takeout financing for North Park Nest, a 39-unit property located at 4233 Kansas St. in San Diego’s North Park neighborhood. The community features a mix of studio and one-bedroom apartments. The average unit size is 486 square feet. Amenities include a rooftop deck with a barbeque and lounge area. Brad Vansant and Ben Choromanski of JLL Capital Markets represented the borrower in arranging the short-term, floating rate bridge loan.

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Reserve at Kingwood East
DevelopmentNewsTexas

Joint Venture Delivers 181-Unit Community Near Houston

by Channing Hamilton

KINGWOOD, TEXAS — High Street Residential, in a joint venture with Japanese homebuilder Daiwa House Group, has completed Reserve at Kingwood East, a 181-unit development in Kingwood, about 27 miles north of Houston. The project, formerly known as Reserve at West Lake, consists of 109 townhomes and 72 apartments. The property represents Phase II of a larger development. The first phase comprised 240 apartments and 49 townhomes and was recently completed in April 2024. Units come in one-, two- and three-bedroom floor plans. The average apartment size is 1,046 square feet, …

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Wendy Deetjen
IllinoisMidwestNewsPeople News

Habitat Appoints Wendy Deetjen as Vice President of Market-Rate Apartment Portfolio

by Channing Hamilton

CHICAGO — Habitat, a developer and property manager based in Chicago, has promoted Wendy Deetjen to vice president of the firm’s national market-rate portfolio. In this role, she will oversee Habitat’s portfolio of communities across the Chicago, Detroit and Minneapolis metropolitan areas. The portfolio totals roughly 4,500 market-rate units. Deetjen joined Habitat as a regional manager in 2017. Most recently, she served as senior regional manager. Prior to joining Habitat, Deetjen was area vice president with The Laramar Group and a regional manager with Lincoln Property Co. She received a …

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Mark Biancucci
New JerseyNewsNortheastPeople News

The Michaels Organization Adds New Deputy Chief Financial Officer

by Channing Hamilton

CAMDEN, N.J. — Camden-based owner, operator and developer The Michaels Organization has hired Mark Biancucci to the newly created position of deputy chief financial officer. Most recently, Biancucci was the chief financial officer at Lendlease, where he oversaw financial strategies for the company’s investment management, development, construction and military housing portfolio. Prior to joining Lendlease, he held senior finance roles at a private real estate firm.

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The Winslow
DevelopmentFloridaNewsSoutheast

Partnership Tops Off The Winslow Near Fort Myers, Florida

by Channing Hamilton

NORTH FORT MYERS, FLA. — A partnership between Mast Capital and BLG Capital Advisors has topped off The Winslow in North Fort Myers, about 3 miles across the Caloosahatchee River from Fort Myers, Florida. Located at 13370 Magnolia Oak Circle, The Winslow will offer 320 units housed in three- and four-story apartment buildings. Tenants will have access to indoor amenities such as a fitness center, lounge, entertainment kitchen, marketplace, dog spa and workspace area for residents that are working from home. Outdoor amenities will include a pool, sun deck with outdoor seating and …

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The Elle Apartment Homes
DevelopmentNewsTexas

Koontz Corp. Acquires 9.7-Acre Site for Development in San Antonio

by Channing Hamilton

SAN ANTONIO — Koontz Corp. has bought a 9.7-acre site in San Antonio from The Concordia Group for an undisclosed price. Koontz will develop The Elle Apartment Homes, a 305-unit community, on the land. Lee Jordan of Cavender & Hill Properties represented The Concordia Group in the sale of the land. Koontz represented itself in the deal. The Elle Apartment Homes will be a complex of four-story buildings comprising 264,015 net rentable square feet. The community will offer a mix of one- and two- bedroom apartments. Residents will have access …

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Park Vista Apartment Homes
Affordable HousingCaliforniaInvestment SalesNewsWestern

BLDG Partners Secures $82 Million in Acquisition Financing for Property in Anaheim, California

by Channing Hamilton

ANAHEIM, CALIF. — BLDG Partners has secured a $82 million loan for the acquisition of Park Vista Apartment Homes, a 392-unit affordable housing community in Anaheim. Martin Fayer of NewPoint Real Estate Capital arranged the fixed-rate Fannie Mae loan, which has a seven-year term with five years interest only.  The garden-style community was originally constructed in 1959, then renovated in 2001. The property consists of 93 two-story buildings spread across approximately 20 acres. Park Vista Apartment Homes is affordable to households earning at or below 60 percent of the area …

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Rylan at Gateway
DevelopmentLeasing & MarketingNewsTexas

Joint Venture Begins Leasing 336-Unit Community Near Dallas

by Channing Hamilton

FORNEY, TEXAS — A joint venture between Legacy Partners and The Resmark Cos. has begun leasing for Rylan at Gateway, a 336-unit community in Forney, about 22 miles east of Dallas. Rylan at Gateway is located at 1205 Gateway Blvd. within Gateway, a 2,000-acre master-planned development. The community consists of five three-story buildings. Apartments come in a mix of studio, one- and two-bedroom layouts and range from 540 to 1,374 square feet. Units feature smart home technology, Wi-Fi connectivity, stainless steel appliances, wood-style flooring and full-size washers and dryers. Select …

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Matt Keane and Matt Zetzl
IndianaMidwestNewsPeople News

The Annex Group Adds Two Professionals to Public-Private Partnership Team

by Channing Hamilton

INDIANAPOLIS — The Annex Group has hired Matt Keane as vice president of public-private partnerships (P3) and promoted Matt Zetzl to the role of P3 development manager. Keane will provide business development and partnership solutions while leading the Indianapolis-based firm’s P3 team. Zetzl will be responsible for P3 procurement and advancing Annex’s P3 community impact plans.

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Eight Winds
FloridaInvestment SalesNewsSoutheast

Altis Cardinal Sells 280-Unit Community in St. Augustine, Florida

by Channing Hamilton

ST. AUGUSTINE, FLA. — Altis Cardinal has sold Eight Winds, a 280-unit community located at 50 Wexford Way in St. Augustine, roughly 40 miles south of Jacksonville, Florida. Debartolo Development LLC purchased the asset for an undisclosed price. Cliff Taylor and Joe Ayers of JLL Capital Markets represented Altis Cardinal in the transaction. Eight Winds consists of 297,428 square feet of rentable space. The community offers a mix of one-, two- and three-bedroom units. Residents have access to amenities such as a pool, fitness center, pickleball courts and multiple indoor …

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