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275-Linden-Blvd
Investment SalesNew YorkNewsNortheast

Marcus & Millichap Arranges Sale in Brooklyn for $10.8 Million

by Lynn Peisner

BROOKLYN, N.Y. — Marcus & Millichap has arranged the sale of 275 Linden Boulevard, a 101-unit building in Brooklyn, for $10.8 million. The transaction marks the first time the property has changed hands in approximately 60 years. Shaun Riney and Daniel Greenblatt, investment specialists in Marcus & Millichap’s Manhattan office, marketed the property and represented the unidentified seller. Seth Glasser, also with Marcus & Millichap, procured the buyer, a private family office out of California. Built in 1930, the six-story, 135,714-square-foot property includes three elevators. The building sits on a …

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CaliforniaInvestment SalesNewsWestern

CBRE Brokers $8.6 Million 1031-Exchange Sale in Costa Mesa

by Lynn Peisner

COSTA MESA, CALIF. — CBRE has arranged the $8.6 million sale of a 13-unit property at 553 and 555 Victoria St. in Costa Mesa, about 40 miles south of Los Angeles. CBRE’s Dan Blackwell, Mike O’Neill and Jack O’Connor represented the Costa Mesa-based private seller. The 1031 buyer is a private investor based in Huntington Beach, California. The property was on the market for the first time in approximately 47 years. Located on a 0.8-acre lot, the property contains 10 buildings with 13,712 square feet of rentable space. The unit …

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Cabana-Bullard
ArizonaFinanceNewsWestern

BWE Arranges ReFi for Greenlight Communities’ Phoenix Asset

by Lynn Peisner

GOODYEAR, ARIZ. — BWE has arranged a $31.3 million loan for Greenlight Communities, which will use the funds to refinance existing construction and development debt for Cabana Bullard in Goodyear about 20 miles west of Phoenix. Based out of the BWE Phoenix office, Charlie Williams, executive vice president, and Matt Terpstra, vice president, arranged the three-year loan through a national life company lender. Cabana Bullard was developed in 2023. It includes 336 units offered as studios or as one- or two-bedroom floor plans.

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Payne_David
Affordable HousingCompany NewsFinanceNewsPeople News

Regions Affordable Housing Names David Payne Head of Originations

by Lynn Peisner

BIRMINGHAM, ALA. — Regions Bank has promoted David Payne to head of originations for Regions Affordable Housing. Payne will oversee all affordable housing originations in order to provide financing that will support developers through low-income housing tax credits and other banking options. He also will provide business development efforts and leadership to the Regions group. Payne will report to Katie Such, head of Regions Affordable Housing. Payne previously served as co-head of originations for Regions Affordable Housing and led the bank’s work in sourcing and originating transactions across the Southeast. …

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Topeka-Annex-Group
Affordable HousingDevelopmentKansasMidwestNews

Annex Group Breaks Ground on $60 Million Kansas Affordable Housing Project

by Lynn Peisner

TOPEKA, KAN. — The Annex Group broke ground on Union at Tower District, an affordable housing development in Topeka, on June 3. Situated on approximately four acres, the project will include 250 one-, two- and three-bedroom units for households earning 30 to 60 percent of area median income. The $60 million Union at Tower District will consist of two four-story buildings and one three-story building. Amenities will include a courtyard, dog park, playground, community center and fitness center. Project partners include BVH Architecture, REGA Engineering, SBB Engineering, the City of …

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Kirbybrook-JPI
Build-to-RentDevelopmentNewsTexas

JPI Breaks Ground on Grand Prairie Townhomes

by Lynn Peisner

GRAND PRAIRIE, TEXAS — JPI has broken ground on Jefferson Kirbybrook, a rental townhome community in Grand Prairie. The 269-unit development will be made up of two- and three-bedroom homes with private yards and garages along with amenities like a resort-style pool, clubhouse, fitness center and dog park. JPI expects to deliver the first units in early 2026. This will be JPI’s first all-townhome development.

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Porchline-RangeWater
DevelopmentGeorgiaNewsSoutheast

RangeWater Breaks Ground on The Porchline in Atlanta Suburb

by Lynn Peisner

LILBURN, GA. — RangeWater Real Estate, the City of Lilburn and the Lilburn Downtown Development Authority have begun construction of The Porchline, a 269-unit community that will include a 700-space public parking deck in downtown Lilburn, an Atlanta suburb. TMGRI, a subsidiary of The Meridian Group, is also a development partner. Construction completion is expected by approximately late 2026. The Porchline will feature a mix of studio, one-, two- and three-bedroom apartments. The community will feature a pool, grills, a gym, coworking spaces, a dog spa, a bar and a …

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Garrett-Cos-Colorado-Springs
ColoradoDevelopmentNewsWestern

Garrett Cos., Ware Malcomb Break Ground in Colorado Springs

by Lynn Peisner

COLORADO SPRINGS, COLO. — The Garrett Cos. has begun development of an unnamed project in Colorado Springs. Ware Malcomb is providing architecture and civil engineering services for the 163-unit project, situated on 7.3 acres at the intersection of Barnes Road and Rio Vista Street northeast of the city’s downtown area in the Village Seven neighborhood. The developer will complete the project by approximately July 2026. The garden-style design includes four four-story buildings. The unit mix is a combination of one-, two- and three-bedroom floor plans. Every unit will have a …

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Roosevelt-Road
Affordable HousingDevelopmentIllinoisMidwestNews

Related Midwest Completes Third Phase of Roosevelt Redevelopment in Chicago

by Lynn Peisner

CHICAGO — Related Midwest has opened three mixed-income buildings as part of the third phase of its 67-acre Roosevelt Square redevelopment in Chicago. Related Midwest completed development of 207 units including 75 public housing, 40 affordable and 92 market-rate units as well as 10,000 square feet of retail space. The multiphase Roosevelt project is a redevelopment of the ABLA Homes site, which was a Chicago Housing Authority public-housing project made up of four buildings dating back to the 1930s. Each building includes 70 apartments with studios, one-, two- and three-bedroom …

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The-Lively-Drayton-Mills
BerkadiaInvestment SalesNews

Berkadia Negotiates $53 Million Spartanburg Sale

by Lynn Peisner

SPARTANBURG, S.C. — Orange Capital Advisors has sold The Lively Drayton Mills in Spartanburg to BridgeGaps Real Estate for $53 million. Senior Managing Directors David Lansbury and Jim Sewell and Managing Director Erika Maston of Berkadia Charleston led the transaction on behalf of the seller. The Lively Drayton Mills is a 297-unit, garden-style property located at 225 Milliken St. that was 92 percent occupied at the time of sale. It was developed in 2023 and features such amenities as a fitness center and pet spa.

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