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Riva-Row-The-Woodlands
DevelopmentNewsTexas

Howard Hughes Communities Opens First High-Rise at The Woodlands

by Lynn Peisner

SPRING, TEXAS — Howard Hughes Communities has opened 1 Riva Row, a 13-story development located within The Woodlands, a 28,500-acre master-planned community 27 miles north of downtown Houston. The project is the first high-rise in the community, which consists of nine residential villages. Allford Hall Monaghan Morris was the architect, Hoar Construction was the general contractor, and Morgan Group is the property manager. Units are comprised of one-, two- and three-bedrooms that range in monthly asking rents from approximately $2,099 to $10,950 for upper-floor penthouses. The community’s amenities include a …

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12th+Greenway-Phoenix
ArizonaDevelopmentNewsWestern

EMBREY Breaks Ground on 340-Unit Phoenix Project

by Lynn Peisner

PHOENIX — EMBREY has begun construction of 12th & Greenway, a 340-unit property situated on 7 acres at North 12th Street and Greenway Parkway in Phoenix. This is EMBREY’s ninth project in Arizona since the San Antonio-based developer entered the business in 2006. Completion is slated for the third quarter of 2027. The four-story community will offer flats and townhomes and such amenities as a resort-style pool and hot tub surrounded by private cabanas, an outdoor kitchen and fireplace, a 24-hour package room, fitness and yoga studios, a game room, …

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WaltonLofts-Seattle
Investment SalesNewsWesternWyoming

Clarion Partners Sells Seattle High-Rise

by Lynn Peisner

SEATTLE — CBRE has arranged the sale of Walton Lofts, a 136-unit high-rise located at 75 Vine St. in Seattle’s Belltown neighborhood. The property was developed in 2015 by the Schuster Group. Clarion Partners was the seller, represented by CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper. Neither the buyer nor the sales price was disclosed, but Clarion purchased the property in 2016 for about $76 million. Walton Lofts includes studios and one- and two-bedroom units. Amenities feature a rooftop lounge with panoramic views of Elliott Bay, the …

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Bell-Rock-Springs-ATL
GeorgiaInvestment SalesNewsSoutheast

Bell Partners Buys Property in Atlanta’s Druid Hill-Emory Area

by Lynn Peisner

ATLANTA — Bell Partners has acquired Rock Springs Village in Atlanta. The seller and sales price were not disclosed. The 558-unit property was developed in three phases in 1987, 2003 and 2005. Greensboro, North Carolina-based Bell Partners bought the property with a value-add fund and is planning renovations to units and common areas. It will be rebranded as Bell Rock Springs. The community features two pools and two fitness centers, a clubroom and outdoor gathering areas. The property is adjacent to Bell Morningside, a 110-unit asset Bell Partners acquired in …

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Leasing & MarketingNewsOperationsTexasWashington, D.C.

Justice Department, RealPage Settle Lawsuit Over Use of Revenue Management Software in Apartment Rental Pricing

by Lynn Peisner

RICHARDSON, TEXAS — The U.S. Justice Department’s Antitrust Division has reached a settlement with RealPage Inc. as part of its ongoing enforcement against algorithmic coordination, information sharing and other anticompetitive practices in rental housing markets across the country, according to details disclosed in a North Carolina federal court on Monday. The proposed consent judgment, which still requires court approval before it can be implemented, would help restore free market competition in rental markets for millions of American renters, the Justice Department stated in a press release. “Competing companies must make …

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The-Parson-Denver
ColoradoDevelopmentLeasing & MarketingNewsWestern

Greystar Launches Leasing at Denver High-Rise

by Lynn Peisner

DENVER, COLO. — Pre-leasing has begun at The Parson, a 309-unit high-rise Greystar is developing in Denver’s Golden Triangle neighborhood. The project is slated for completion next year. According to Zillow, monthly asking rents range from $2,055 for a studio to $13,690 for a three-bedroom penthouse. The Parson features 4,100 square feet of retail space. Amenities include a fifth-floor pool with views of the Rocky Mountains, a two-story gym with a sauna and a yoga lawn, concierge services, shared workspaces and an indoor and outdoor dog park. Ziegler Cooper was …

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CEI-Hillcrest-Antioch
Affordable HousingCaliforniaCompany NewsDevelopmentFinanceFloridaInvestment SalesNewsNorth CarolinaNortheastSouth CarolinaSoutheastWestern

CEI Launches Affordable Housing Investment Partnership

by Lynn Peisner

LOS ANGELES — Los Angeles-based developer Cypress Equity Investments (CEI) and an unnamed Florida-based investment firm have partnered to build or acquire approximately $1.2 billion worth of affordable housing communities. The venture is being launched with 11 ground-up projects that are already in place in California and Florida. Target markets for future opportunities include the Carolinas, Tennessee, Texas and some markets in the Northeast. Some of the deal characteristics CEI is seeking will include communities with on-site resident services, developments that partner with nonprofits and acquisitions of other existing institutional …

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Adria-Venice
DevelopmentFloridaNewsSoutheast

The NRP Groups Opens Dual Gulf Coast Properties

by Lynn Peisner

VENICE, FLA. — The NRP Group has completed development of Adria and Maren, two properties within 2 miles of each other in Venice, about 21 miles south of Sarasota. PointeOne Holdings was the equity partner in the development, marking the investment firm’s sixth project with NRP. Adria and Maren were designed by Slocum Platts Architects. Together, they include 665 units. The 335-unit Adria offers one-, two- and three-bedroom floor plans while Maren comprises 330 units offered as studios, one-, two- and three-bedroom layouts. Both communities include three-bedroom townhome options with …

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Company NewsFinanceMidwestNews

Peakhill Capital Acquires Venture Capital Mortgage

by Lynn Peisner

TORONTO AND MINNEAPOLIS — Toronto-based commercial investment and lending firm Peakhill Capital has acquired Minneapolis-based commercial banking firm Venture Capital Mortgage. Financial terms of the transaction were not disclosed. According to Peakhill, the merger represents an expansion of business in the United States, specifically an increase in bridge and life correspondent lending, joint venture equity platforms and access to a broadened borrower base across multifamily, office, retail and industrial sectors. Double Peak Advisors represented Peakhill in the transaction.

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DevelopmentIndianaMidwestNews

Thompson Thrift to Develop Revere in Indianapolis Metro

by Lynn Peisner

WESTFIELD, IND. — Locally based Thompson Thrift has broken ground on Revere, a 350-unit project in Westfield, 27 miles north of Indianapolis. Completion is slated for February 2027. The 23-acre community will feature units in one-, two- and three-bedroom configurations. The residences will be spread over six buildings, including four three-story garden-style buildings and two four-story elevator-serviced buildings. Amenities include a fitness center; a resort-style, heated pool; electric firepits with seating areas; a dog park and pet spa with a grooming station; grilling areas; and a business center with a …

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