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The-Flats-at-Legacy-Poquoson
Investment SalesNewsSoutheastVirginia

Franklin Group Sells The Flats at Legacy in Poquoson, Virginia for $52.5M

by Lynn Peisner

POQUOSON, VA. — Berkadia has arranged the $52.5 million sale of The Flats at Legacy, a 176-unit community in Poquoson, a city in the Hampton Roads region of Virginia. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia Richmond led the transaction on behalf of the seller, Franklin Group of Virginia Beach, Virginia. Utah-based Ceifa Capital acquired the property in a transaction that closed on May 29. Completed in 2024, The Flats at Legacy is located on 24 acres at 200 Big Woods Drive. The property comprises 176 …

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Abrazo-Port-St-Lucie
Build-to-RentDevelopmentFloridaNewsSoutheast

CBI Construction, Third Lake Development Break Ground on Abrazo at Wylder in Port St. Lucie, Florida

by Lynn Peisner

PORT ST. LUCIE, FLA. — CBI Construction has broken ground on Abrazo at Wylder, a build-to-rent community located in Port St. Lucie. Tampa, Florida-based Third Lake Development LLC is the developer. Upon completion, slated for 2027, the community will feature 264 units and amenities that include a clubhouse, resort-style pool, pickleball courts and more. The development is the first multifamily project within the Wylder master-planned community, which also features new for-sale homes, a senior living community, a golf course and eventually a new public school. Site work at the 31-acre …

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Affordable HousingDevelopmentFinanceMidwestOhio

Lument Secures $28M HUD Loan for Ohio Affordable Housing Redevelopment

by Lynn Peisner

LORAIN, OHIO — Lument has secured a $28 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan to assist TFG Housing Resources and Raise Up with the rehabilitation of Western Horizon. Upon completion of the redevelopment, all 353 units of the affordable housing community in Lorain will be offered at rents capped at 60 percent of area median income. Lument’s Joey Hague led the transaction. TFG Housing Resources is a Columbus, Ohio-based real estate developer focused on the new construction and rehabilitation of affordable housing properties. …

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Fox-Hills-Dubuque
IowaMidwestNewsOperations

DMG Selected as Property Manager for Fox Hills Apartments in Dubuque, Iowa

by Lynn Peisner

DUBUQUE, IOWA — Daniel Management Group, a Chicago-based property management and investment firm, has been selected by Talon Development to manage and lease up Fox Hills Apartments. The community will open its first 210 units for move-ins this August. More development phases are planned for future dates. Fox Hills features studios through three-bedroom layouts and amenities such as a fitness center, dog park, clubhouse and a walking trail. High-speed Wi-Fi and trash, water, sewer and natural gas are included with rents.

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Alta-Rise-Gilbert
ArizonaInvestment SalesNewsWestern

Wood Partners Sells Alta Rise in Gilbert, Arizona

by Lynn Peisner

GILBERT, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Alta Rise in North Gilbert, Arizona. IPA’s Steve Gebing and Cliff David represented the seller, Atlanta-based Wood Partners, which developed the property, opening it in 2025. IPA also procured the unnamed buyer. The 278-unit community is a four-building property with a fourth-floor lounge and deck. Additional amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts and a resort-style pool and hot tub. Apartments feature walk-in closets with built-in shelving, kitchens …

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Vegas-View-Flats-Las-Vegas
Affordable HousingNevadaNewsOperationsWestern

Stout Management Selected as Property Manager for Las Vegas Affordable Housing Development

by Lynn Peisner

NORTH LAS VEGAS, NEV. — Illinois-based Brinshore Development has selected locally based Stout Management Co. as property manager for Vegas View Flats, an affordable housing community at 620 W. Lake Mead Blvd. in North Las Vegas. The 76-unit property, currently in the lease-up phase, offers studios, one-, two- and three-bedroom apartments reserved for renters earning up to 50, 60 or 80 percent of area median income. Stout will oversee day-to-day operations, leasing, compliance and long-term management of the community.

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River-Oaks-Norfolk
Investment SalesNewsSoutheastVirginia

Greysteel Brokers $10M Sale of River Oaks in Norfolk, Virginia

by Lynn Peisner

NORFOLK, VA. — Greysteel has brokered the sale of River Oaks Apartments in Norfolk. The 100-unit community sold to a Virginia-based private investor for $10 million. Located at 1464 Gabriel Drive, River Oaks consists of one- and two-bedroom apartments. Greysteel secured an acquisition loan that included capital expenditure funding for future renovations.

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ICON-165-Long-Branch
Investment SalesNew JerseyNewsNortheast

ICON Arranges $19.4M, Two-Property Sale in Long Branch, New Jersey

by Lynn Peisner

LONG BRANCH, N.J. — ICON Real Estate Advisors has arranged the $19.4 million sale of The Pavilion, a 46-unit multifamily building at 165 Pavilion Ave., and an adjacent retail property at 231 Third Ave. in Long Branch, 57 miles south of Manhattan. The buyer, Henshaw Realty, acquired the assets as part of a 1031 exchange following the sale of a New York City asset. The seller was Jebara Partners, the original developer. The Pavilion was completed in 2021 and is a five-story building. The retail property is occupied by tenants …

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FinanceNewsTexas

Northmarq Arranges Refinancing of Wood River Apartments in Corpus Christi, Texas

by Lynn Peisner

CORPUS CHRISTI, TEXAS — Northmarq has arranged the refinancing of Wood River Apartments, a 199-unit property in Corpus Christi. Cheryl Higley and Ryan Shoars led the team that secured the undisclosed amount of financing through Northmarq’s in-house Edge platform. Built in 1983, Wood River Apartments is comprised of one-, two- and three-bedroom floor units across two 17-story buildings.

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FinanceNews

HGI, Garrett Cos. and Telis Group Obtain $351M Refinancing for Eight-Property Portfolio

by Lynn Peisner

NORFOLK, VA. — Affiliates of Norfolk-based Harbor Group International (HGI), in partnership with The Garrett Cos. and Telis Group, have refinanced senior construction debt across an eight-property portfolio through a $351 million loan originated by ACRE. Walker & Dunlop arranged the financing. The eight properties are part of a broader 11-asset multifamily portfolio recapitalized by HGI, The Garrett Cos. and Telis Group in January 2025. The refinanced portfolio includes five properties across the Denver and Colorado Springs metros and one asset each in the Phoenix, Indianapolis and Minneapolis metropolitan areas. …

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