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Geri-Borger
Company NewsNew YorkNewsNortheastPeople News

NewPoint Announces Personnel Changes

by Lynn Peisner

NEW YORK CITY — NewPoint Real Estate Capital has promoted Geraldine Borger Urgo to president of agency lending. Borger Urgo, who was a leader in NewPoint’s acquisition by Franklin BSP Realty Trust earlier this year, previously spent about 15 years at Freddie Mac and was most recently NewPoint’s head of originations for the past four years. Separately, Nick Gesue will depart his role as chief executive officer, effective Sept. 1. His position was transitioned as part of consolidating leadership following the acquisition. NewPoint leadership will remain under the existing executive …

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Eastfield-Village-Selma
DevelopmentNewsNorth CarolinaSoutheast

NRP Group Buys Land for Community Within North Carolina’s Eastfield Mixed-Use Development

by Lynn Peisner

SELMA, N.C. — AdVenture Development has sold approximately 14.5 acres to The NRP Group, which will develop Eastfield Village on the site. The community will be the multifamily component of AdVenture’s Eastfield mixed-use development in Selma, a city about 33 miles southeast of Raleigh. The 348-unit Eastfield Village will feature amenities including a freestanding clubhouse, a 24-hour fitness center, a pool, grilling stations, a dog park and a pickleball court. Units will be offered as one-, two- and three-bedroom floor plans across 12 three-story garden-style buildings. Completion is slated for …

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Whitman-Villas
Build-to-RentDevelopmentIndianaMidwestNews

EPM Breaks Ground on Whitman Villas

by Lynn Peisner

GREENFIELD, IND. — Locally based developer Equity Property Management (EPM) has broken ground on Whitman Villas, the second residential development in Hancock Gateway Park, a 200-acre, $460 million master-planned, mixed-use development in Greenfield, 25 miles west of Indianapolis. The project is named in honor of poet Walt Whitman and will consist of 108 rental townhomes offered in two- or three-bedroom floor plans. Completion is slated for spring 2026. Whitman Villas amenities will include a pickleball court, a clubhouse, fitness and business centers, a resort-style pool, grilling and gathering areas and …

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Society-at-Laurens
FinanceNewsSouth CarolinaSoutheast

Southern Land Co. Refinances Charleston Development

by Lynn Peisner

CHARLESTON, S.C. — Walker & Dunlop has arranged a $75 million loan for Southern Land Co. to refinance construction debt used to develop Society at Laurens, a 148-unit community in Charleston that opened earlier this year. Walker & Dunlop’s Walker Layne, Matt Wallach and Stephen West arranged a three-year bridge loan through Aareal Capital. Society at Laurens is comprised of studios and one-, two- and three-bedroom units as well as penthouses. Amenities include a heated saltwater pool and a hot tub situated on a second-floor deck with views of Charleston …

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westbeth
Affordable HousingDevelopmentNew YorkNewsNortheast

Merchants Capital Secures Funding for Westbeth Artists Housing Redevelopment

by Lynn Peisner

NEW YORK CITY — Merchants Capital has provided $25.2 million in financing for the recapitalization and redevelopment of Westbeth Artists Housing, a 384-unit, historic, mixed-use affordable housing development in New York City. A state-sponsored program, Homes and Community Renewal Multifamily Preservation (HCR), also contributed $63 million. Chase is also a financing partner, but details about the company’s contribution were not released. The rehab will replace roofing, elevators, windows and radiators; restore the building’s façade; renovate 32 apartments; and install energy-efficient updates, including green roofs. Westbeth Artists Housing is owned by …

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Milestone-Group-Casa-Brera
FloridaInvestment SalesNewsSoutheast

Milestone Group Buys Community in Lake Worth, Florida

by Lynn Peisner

LAKE WORTH, FLA. — The Milestone Group has acquired Casa Brera at Toscana Isles in Lake Worth for an undisclosed figure. The 206-unit community features one-, two- and three-bedroom units and such amenities as a resort-style pool, a private movie theater, a fitness center, dog park, multi-purpose sports court and a clubhouse. Hampton Beebe and Avery Klann of Newmark marketed the property on behalf of the undisclosed seller.

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Fox-and-Grouse-Phase-II
DevelopmentFinanceMidwestMinnesotaNews

Grego, Eagle Partners Lock in $56 Million for Second Phase of Minneapolis-Area TOD

by Lynn Peisner

EDEN PRAIRIE, MINN. — Greco and Eagle Ridge Partners have secured $55.6 million in debt and equity financing to complete the second phase of The Fox & The Grouse in Eden Prairie, 18 miles southwest of Minneapolis. JLL Capital Markets arranged the package, consisting of a $39.1 million, three-year, floating-rate loan through MidWestOne Bank and $16.5 million in joint venture equity from Amstar Group. The six-story community will offer a mix of studios and one-, two- and three-bedroom units, with a quarter of the units designated as affordable with rents …

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LC-Line-and-Low
FinanceNewsSouth CarolinaSoutheast

Lifestyle Communities Lands $110 Million ReFi for Charleston Mixed-Use Project

by Lynn Peisner

CHARLESTON, S.C. — Dwight Mortgage Trust has provided a $110 million bridge loan to Ohio-based developer Lifestyle Communities. The loan will refinance existing construction debt, cover transaction costs and fund remaining construction expenses for LC Line and Low, a 277-unit mixed-use development in Charleston. Dwight Capital’s Brandon Baksh, Noah Greenwald and Talisse Thompson led the transaction. Amenities at the new property include a resort-style pool, a clubhouse, fitness center with saunas and cold plunges, coworking spaces and a parking deck. On-site retail and dining include The Goat Restaurant & Bar …

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Park-Villas-Apartments
Investment SalesMidwestMinnesota

Venture Development Buys Minnesota Active Adult Property

by Lynn Peisner

WAITE PARK, MINN. — Podawiltz Development Corp. has sold Park Villa Apartments in Waite Park, about 70 miles northwest of Minneapolis in the St. Cloud metro area. JLL arranged the sale, representing Podawiltz in the deal, and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group. The sales price was not disclosed. The 95-unit active adult community features 71 one-story, cottage-style units and 24 two-story townhome apartments with private garages. Park Villa was constructed in 1991 and renovated in 2008. It sits on about 7 acres.

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Wild-Pines
Affordable HousingBerkadiaFinanceFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Acquisition Financing for Naples, Florida, Deal

by Lynn Peisner

NAPLES, FLA. — Interface Properties has acquired Wild Pines of Naples from an undisclosed seller and undisclosed total sales price. Berkadia arranged $26.6 million in acquisition financing, which includes a $20.6 million senior loan and an additional $6 million supplemental through Freddie Mac. Senior Managing Director Mitch Sinberg, Director Michael Basinski and Managing Directors Scott Wadler, Brad Williamson and Matt Robbins led the Berkadia team. Half of the community’s 200 units are income-restricted, but specifics weren’t disclosed. The property was built in multiple phases between 1968 and 2001. Wild Pines …

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