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Investment SalesNew JerseyNewsNortheast

Woodmont Properties Sells New Jersey Community for $43 Million

by Lynn Peisner

INDEPENDENCE TOWNSHIP, N.J. — Sage Investment Real Estate Advisors has arranged the $43 million sale of Woodmont Liberty Apartments in Independence Township 60 miles west of New York City. Sage’s co-founding Partners Steve Tragash and Greg Pine represented the seller, Woodmont Properties, and procured the unnamed buyer. Woodmont Properties developed the property in 2023. The 120-unit community is comprised of one- and two-bedroom floor plans. Amenities include smart-home technology, private patios or balconies in select units, a fitness center, pool, clubhouse, coworking spaces, resident lounge, dog park and an outdoor …

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Jigzibik-Rendering
Affordable HousingDevelopmentIllinoisMidwestNews

Skender, Full Circle Break Ground on Native American-Focused Affordable Housing Project in Chicago

by Lynn Peisner

CHICAGO — Full Circle Communities, in partnership with Native American-led nonprofit organization Visionary Ventures, is developing Jigzibik, an affordable housing development in Chicago. Skender, the general contractor on the project, broke ground on July 11. The 62,000-square-foot, seven-story mixed-use development will serve Native American communities. Jigzibik’s 45 units will be reserved for residents earning between 15 and 60 of area median income. Canopy Architecture + Design is the architect. The building will feature ground-floor office space for Native American-serving nonprofits, spaces for artists and makers, a computer lab and library …

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York-Farm-Estates
Investment SalesNew YorkNewsNortheast

HVT Realty Sells Westchester County Asset for $15.8 Million

by Lynn Peisner

YORKTOWN HEIGHTS, N.Y. — Marcus & Millichap has arranged the trade of York Farm Estates between seller, HVT Realty, and buyer, Westchester Management LLC. Marcus & Millichap’s Matthew Gault, Seth Glasser, Michael Turkiewicz and Michael Fusco marketed the property on behalf of the seller and procured the buyer. Built in 1996, York Farm Estates is fully occupied and sits on 8 acres. Units are a mix of one-, two- and three-bedroom apartments. The property is located in Yorktown Heights, a city in Westchester County, 42 miles north of Manhattan.

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Kelly-Station-Rendering
Affordable HousingDevelopmentMidwestNewsWisconsin

McShane Selected as Contractor for Madison, Wisconsin, Affordable Housing Development

by Lynn Peisner

MADISON, WIS. — Volker Development, based in Fond du Lac, Wisconsin, has selected McShane Construction Co. to build Kelly Station, a 76-unit affordable housing project in Madison. Specifics about government subsidy financing or rent restrictions were not released, but local news sources report the Dane County Board of Supervisors approved $4 million in funding toward the project. According to a press release, the development partners include the county as well as the City of Madison, the Dane Workforce Housing Fund II and the Wisconsin Housing and Economic Development Authority. Kelly …

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Jon-Burckin-CDLI
Affordable HousingFinanceNew YorkNewsNortheastPeople News

John Burckin Named Senior Business Development Banker for KeyBank CDLI

by Lynn Peisner

NEW YORK — KeyBank Community Development Lending and Investment (CDLI) has appointed Jon Burckin to senior business development banker on the equity distribution team. He is based in the firm’s New York City office and reports to Stacie Nekus, team leader for an equity growth initiative within CDLI. In this role, Burckin is responsible for raising capital and bringing in new investors for CDLI’s affordable housing equity syndication platform across the United States.

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323-Columbia-St
Investment SalesMassachusettsNewsNortheast

Marcus & Millichap Arranges Sale of Nine-Unit Boston Property

by Lynn Peisner

CAMBRIDGE, MASS. — Marcus & Millichap has arranged the $5 million, off-market sale of a nine-unit property at 323-327 Columbia St. in Cambridge. Senior managing directors Evan Griffith and Tony Pepdjonovic represented the seller and procured the buyer. The three-story building was constructed in 1920 and is within walking distance of Harvard University and the Massachusetts Institute of Technology.

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Hampton-Heights
Affordable HousingInvestment SalesNewsWestern

Northmarq Arranges Seattle Affordable Housing Sale

by Lynn Peisner

TUKWILA, WASH. — Hampton Heights, a 114-unit affordable housing community in the Seattle suburb of Tukwila, has traded for $15.2 million. The buyer and seller were unnamed limited liability companies. Northmarq’s Seattle-based team, led by Tyler Smith, Steve Fischer and Joe Kinkopf, arranged the sale. Hampton Heights was built in 1976 and renovated in 2001. The project is designated affordable under the Washington State Housing Finance Commission’s Low-Income Housing Tax Credit program. Rents are capped at 35 and 60 percent of area median income, according to the property’s website.

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Avana-Desert-View
ArizonaInvestment SalesNewsWestern

Knightvest Buys Avana Desert View in Metro Phoenix

by Lynn Peisner

SCOTTSDALE, ARIZ — Institutional Property Advisors (IPA) has arranged the sale of and acquisition financing for Avana Desert View, a 412-unit property in Scottsdale. According to the Phoenix Business Journal, the asset traded for approximately $119 million. IPA executive managing directors Steve Gebing and Cliff David represented the seller, Greystar, and procured the buyer, Knightvest. Brian Eisendrath, Cameron Chalfant and Tyler Johnson of IPA Capital Markets arranged five years of interest-only acquisition financing for Knightvest. Avana Desert View is a two- and three-story property built in 1996 on 18.5 acres. …

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Sarah-Young
North CarolinaPeople NewsSoutheast

Sarah Young to Replace John Tomlinson as CFO of Bell Partners

by Lynn Peisner

GREENSBORO, N.C. — Sarah C. Young will replace John Tomlinson as chief financial officer (CFO) of Bell Partners, a Greensboro-based investment and property management company. The transition will be effective upon Tomlinson’s retirement, which begins Aug. 22. Young will report to Chief Executive Officer Lili Dunn. After his retirement, Tomlinson will remain as an advisor to the company through the end of 2025. Young previously served as CFO and senior managing director at Quarterra Group, a subsidiary of Lennar, where she worked for 10 years managing financial operations and strategic …

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RENDER-Stockbridge
DevelopmentGeorgiaNewsSoutheast

Crescent Communities Opens RENDER Stockbridge

by Lynn Peisner

STOCKBRIDGE, GA. — Crescent Communities and equity partner Phoenix Capital Management have opened RENDER Stockbridge, 297-unit community 20 miles southeast of Atlanta. CIBC Bank USA also was a financial partner. Crescent Communities Construction served as the general contractor. Dwell Design Studio is the project’s architect, with Ironwood Design Group handling landscape architecture and Thomas & Hutton conducting civil engineering. Amenities at RENDER Stockbridge include a resort-style pool, a firepit and grills, coworking spaces with private offices and conference rooms, two dog parks a fitness center, a complimentary coffee bar and …

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