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The-Rae-Bethesda
FinanceMarylandNewsNortheast

PCCP Provides $80M Refinancing for Foulger-Pratt’s The Rae in Bethesda, Maryland

by Lynn Peisner

BETHESDA, MD. — PCCP has provided an $80 million refinancing loan to Foulger-Pratt for The Rae, a 343-unit property at 10401 Motor City Drive in Bethesda. The Potomac, Maryland-based investment and development firm completed the property in mid-2023. The Rae is comprised of studio, one- and two-bedroom units as well as a two-story, 24-hour fitness center, sports bar, garden space with hammocks and fire pits, pet wash facilities and bike storage. Units feature LVP flooring, kitchen islands, tile backsplashes and showers and stainless-steel appliances.

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Citadel-Urban-San-Antonio
FinanceNewsTexas

Cambridge Development Group Refinances Citadel Urban in San Antonio

by Lynn Peisner

SAN ANTONIO — CBRE has arranged a refinancing loan on behalf of Cambridge Development Group, the Houston-based owner of Citadel Urban in San Antonio. The 181-unit community is located in the Westover Hills submarket and was completed in 2024. Loan proceeds will be used to retire existing construction financing. Citadel Urban consists of two three-story buildings containing one- two- and three-bedroom units on 5.5 acres. CBRE’s John Fenoglio and Brock Hudson arranged the loan.

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Westbourne-Ashley-Landing-Charleston
DevelopmentNewsSouth CarolinaSoutheast

Woodfield Development Breaks Ground on Westbourne Ashley Landing in Charleston

by Lynn Peisner

CHARLESTON, S.C. — Woodfield Development has acquired a portion of the 31-acre Ashley Landing redevelopment site for the construction of Westbourne Ashley Landing. The 285-unit community will serve as the multifamily component of the $348 million redevelopment of the former Ashley Landing enclosed mall. Once EDEN’s multi-phase redevelopment is complete, the site will feature approximately 240,000 square feet of retail, restaurant and commercial space anchored by Publix along with residential neighborhoods, public gathering areas and approximately 1 acre of central green space. Construction financing for Westbourne was provided by TD Bank …

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Wells-Park-Pflugerville
Investment SalesNewsTexas

Haven Housing Acquires Wells Park in Greater Austin Area

by Lynn Peisner

PFLUGERVILLE, TEXAS — Haven Housing has acquired Wells Park Apartments, a 264-unit garden-style community in the Austin suburb of Pflugerville. The seller and sales price were not disclosed. Haven Housing is the affordable and multifamily housing division of Los Angeles-based BH Properties, which launched in 2025. Walker & Dunlop’s Kevin Dufour, Matt Pohl, Spencer Roy and Forrest Bass represented Haven in the deal. Located at 15001 Strathaven Pass and built in 2018, Wells Park is comprised of one-, two- and three-bedroom units as well as a resort-style pool, fitness center …

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Landings-at-Pembroke-Lakes-Pembroke-Pines
FloridaInvestment SalesNewsSoutheast

Waterton Buys Landings at Pembroke Lakes in South Florida for $80.5M

by Lynn Peisner

PEMBROKE PINES, FLA. — Chicago-based Waterton has acquired The Landings at Pembroke Lakes, a 358-unit property in Pembroke Pines, 20 miles southwest of Fort Lauderdale. The South Florida Business Journal reports that Coral Gables, Florida-based Bar Invest Group sold the asset for approximately $80.5 million. The 27-acre community is built around a 45-acre lake and features green spaces, outdoor amenities and lakefront beaches. The Landings at Pembroke Lake was developed in 1989 and includes one- and two-bedroom units with screened-in patios or balconies. Waterton is planning to upgrade unit appliances, …

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The-Q-Seattle
Investment SalesNewsWashingtonWestern

Kite Partners Buys The Q in Seattle for $24.1M

by Lynn Peisner

SEATTLE — CBRE has arranged the sale of The Q, an 87-unit community at 1321 Queen Anne Ave. N. in Seattle’s Queen Anne neighborhood. Kite Partners bought the asset from Acme Realty for $24.1 million. CBRE’s Mark Zoffel, Peter Wright, Reed Hunter and Spencer Clark represented Acme in the transaction. James Bach and Nick DaValle of CBRE’s debt and structured finance team arranged the loan assumption. The Q features studio, one and two-bedroom units and includes a rooftop deck, a fitness center and pet amenities. The building is about 1 …

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jll-194-e-2nd-st-nyc
FinanceNew YorkNewsNortheast

JLL Arranges $44.5M ReFi Following Benchmark’s East Village Renovation

by Lynn Peisner

NEW YORK CITY — JLL has arranged a $44.5 million refinancing loan for locally based Benchmark Realty Group’s 61-unit property at 194 East 2nd St. in Manhattan’s East Village. Citi was the lender, while Michael Zaremski, John Flynn and Clayton Ross headed up JLL’s team. Located at the corner of East 2nd Street and Avenue B, the six-story property includes 15,450 square feet of ground-floor retail space, 10,000 of which is anchored by Duane Reade under a long-term lease. Benchmark acquired the property in 2024 and has since completed a …

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Renley-Arlington
DevelopmentNewsNortheastVirginiaWashington, D.C.

Gilbane Starts Construction of Office-to-Residential Project in Metro D.C.

by Lynn Peisner

ARLINGTON, VA. — Gilbane Development has begun construction of Renley, an office-to-residential conversion at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Gilbane acquired the building, developed in 2000, in March 2025. The community will include 94 market-rate units in one-, two- or three-bedroom floor plans. Renley represents one of the first projects to take advantage of Arlington County’s updated adaptive reuse policy, adopted in November 2024, which lowered costs and removed regulatory hurdles for developers. The redevelopment plan will preserve the building’s exterior façade. Inside, amenities will include tenant storage …

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Reserve-at-Three-Ridges-Knoxville
Build-to-RentDevelopmentLeasing & MarketingNewsOperationsSoutheastTennessee

ARK Homes for Rent Begins Pre-Leasing at Knoxville BTR Project

by Lynn Peisner

KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing at The Reserve at Three Ridges in Northeast Knoxville. The 126-unit community is comprised of two-story townhomes in three- and four-bedroom floor plans with attached garages, open layouts, granite countertops and stainless steel appliances in kitchens, smart home features and walk-in closets. Amenities include a clubhouse, pool, playground and pet park. A construction completion date was not disclosed.

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Levi-at-River-City-Jacksonville
FloridaInvestment SalesNewsSoutheast

American Landmark Apartments Buys Two Jacksonville Properties, Rebrands as One Community

by Lynn Peisner

JACKSONVILLE, FLA. — American Landmark Apartments, a Tampa, Florida-based private equity-backed multifamily investment manager and owner-operator, has acquired two properties in Jacksonville for an undisclosed price. Mirador Apartments at River City and Stovall Apartments at River City, two adjacent communities totaling 552 units were acquired from Revantage, according to the Jacksonville Business Journal, which also reports the assets were acquired in 2017 for $36 million. The properties will be rebranded as Levi at River City. The communities were developed in 2007 and offer a mix of one-, two- and three-bedroom …

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