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3751-Delmas-Los-Angeles
Affordable HousingCaliforniaDevelopmentFinanceNewsWestern

Berkadia Arranges $15.6M Construction Loan for Two L.A. Affordable Housing Developments

by Lynn Peisner

LOS ANGELES — Berkadia has arranged $15.6 million in construction financing for two affordable housing projects in Los Angeles. Locally based Seachange Partners, founded in 2024, is the borrower. The lender was Genesis Capital. The developments are at 1723 Corinth Ave. in the Sawtelle neighborhood and 3751 Delmas Terrace in the Palms submarket. The two five-story projects will include a combined 79 units of deed-restricted affordable housing. Income caps were not disclosed. Construction is underway, with completion slated for 2027.

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Alta-Firewheel-Garland
Investment SalesNewsTexas

Wood Partners Sells Alta Firewheel in Garland, Texas

by Lynn Peisner

GARLAND, TEXAS — Wood Partners has sold Alta Firewheel in Garland to Pardue Cos. Wood Partners broke ground on the 250-unit community in December 2022 and completed the project in 2024. Amenities include a resort-style pool, fitness center, lounge and gaming area. Institutional Property Advisors’ Joey Tumminello, Drew Kile, Taylor Hill, Michael Ware and William Hubbard represented Wood Partners in the transaction.

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Hays-Park-Kyle
Investment SalesNewsTexas

Haven Housing Acquires Hays Park Apartments in Kyle, Texas

by Lynn Peisner

KYLE, TEXAS — Haven Housing, the multifamily and affordable housing division of Los Angeles-based BH Properties, has acquired Hays Park Apartments in Kyle, 21 miles southwest of Austin. Haven Housing was represented by Walker & Dunlop’s Kevin Dufour, Matt Pohl, Spencer Roy and Forrest Bass. Terms of the transaction were not disclosed. The 309-unit, garden-style property, located at 828 Bebee Road, was built in two phases in 2014 and 2016. Comprised of one- and two-bedroom floor plans, Hays Park was 90 percent occupied at the time of the sale. Amenities …

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Central-Pointe-Newark
DevelopmentFinanceNew JerseyNewsNortheast

Drew Capital Arranges $16.3M Construction Loan for Central Pointe in Newark

by Lynn Peisner

NEWARK, N.J. — Akiva Drew, founder of Drew Capital, has arranged a $16.3 million loan through Trevian Capital for the construction of Central Pointe, a 77-unit property in the University Heights neighborhood of Newark. Locally based Giga Holdings is the borrower and developer. The six-story structure will be located at 380 Central Ave. between First Street and Morris Avenue. Floor plans will consist of one- and two-bedroom layouts, and 16 units will be set aside as affordable. Rent restrictions were not disclosed. Amenities include a fitness center and coworking and …

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Colibri-Commons-East-Palo-Alto
Affordable HousingCaliforniaDevelopmentNewsOperationsWestern

MidPen, EPACANDO Open Colibri Commons, a 136-Unit Affordable Housing Community in East Palo Alto, California

by Lynn Peisner

EAST PALO ALTO, CALIF. — MidPen Housing and the East Palo Alto Community Alliance Neighborhood Organization (EPACANDO) have opened Colibri Commons, a 136-unit affordable housing community at 965 Weeks St. in East Palo Alto. Units are reserved for tenants earning no more than 30 and 60 percent of area median income. Units range from studio to four-bedroom floor plans. Amenities include a community room, an outdoor play area and free onsite services such as nutrition classes, adult education and after-school programming. MidPen Property Management is the property manager. Financing for …

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Manors-Matteson
IllinoisMidwestNewsOperations

Haven Realty Sells Manors at Brookmere in Metro Chicago for $26.4M

by Lynn Peisner

MATTESON, ILL. — Haven Realty Capital has sold The Manors at Brookmere in Matteson to Haven Realty Capital for $26.4 million. Cushman & Wakefield’s Brad Smith, Jack Maloney and Anna Lovell represented Haven in the transaction. Haven subsequently tapped Daniel Management Group (DMG) to manage the property. The Manors at Brookmere is a 108-unit build-to-rent townhome community in Matteson, 31 miles south of Chicago. Units are offered in two- and three-bedroom layouts and include one- or two-car garage options and full-sized washers and dryers. The community, built in 2021 by …

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biscayne-shores-North-Miami
FloridaInvestment SalesNewsSoutheast

RPM Living, Cantor Fitzgerald Asset Management Buy Biscayne Shores in North Miami

by Lynn Peisner

NORTH MIAMI, FLA. — RPM Living and affiliates of Cantor Fitzgerald Asset Management (CFAM), the investment and asset management division of global financial services and real estate holding group Cantor Fitzgerald, have acquired Biscayne Shores in North Miami, an 8-acre property developed by Integra Investments, the seller. Integra’s development partners included Andrew Korge of Korgeous Group and David Larson of DCL Capital. The group acquired the site in 2020 and completed construction in 2024. The transaction follows previous CFAM and RPM acquisitions in Dallas, Denver, Houston, Orlando and Tampa. Terms …

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FinanceInvestment SalesNewsSoutheastTexas

Hilltop Residential Closes $288M Fund

by Lynn Peisner

HOUSTON — Hilltop Residential, an owner of multifamily real estate that operates across 15 markets in the southeastern United States, has closed Hilltop Growth Fund VI with $288 million in total commitments. Hilltop will seek value-add assets in business-friendly markets demonstrating population and job growth. The investor base includes endowments and foundations, financial institutions, insurance companies, national registered investment advisor (RIA) platforms and family offices. Hilltop expects Fund VI to acquire approximately $1.5 to $2 billion in gross asset value. Through the fund, nine assets have been acquired to date, …

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IllinoisInvestment SalesMidwestNews

JVM Realty and DRA Advisors Form Partnership to Acquire Enclave at 127th in Plainfield, Illinois

by Lynn Peisner

PLAINFIELD ILL. — JVM Realty Corp. and DRA Advisors have formed a joint venture partnership to acquire Enclave at 127th, a 340-unit community in Plainfield, 38 miles southwest of Chicago. JVM acquired the community in 2013, one year after it was constructed. The new joint ownership of the asset will focus on capital improvements to drive value, including unit renovations and amenity enhancements. JVM has stated that it is currently expanding its investment platform through joint venture relationships with institutional partners. DRA Advisors is a New York-based investment advisor that …

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Kristin-Koch-HVPG
Affordable HousingCompany NewsNewsPeople News

HVPG Hires Kristin Koch, Promotes Diana Bellizzi and Matt Doty

by Lynn Peisner

NEW YORK CITY — Affordable housing preservation company Hudson Valley Property Group (HVPG) has hired Kristin Koch to the role of managing director, head of capital raising. Koch will focus on expanding HVPG’s global investor base across institutional, sovereign and private wealth channels. Koch’s previous experience includes raising approximately $1.4 billion for affordable housing at Jonathan Rose Cos. The firm also has promoted Diana Bellizzi to managing director, head of investor relations, and Matt Doty to chief financial officer and chief compliance officer.

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