Top Story

Lument Provides $110.8 Million in Financing for Chicago Portfolio

by Channing Hamilton February 21, 2025

CHICAGO — Lument has provided $110.8 million in Fannie Mae DUS loans for six-property portfolio in Chicago. The funds will be used to refinance existing bank debt for the sponsor, Chicago-based owner-operator BJB Properties. Roughly half of the units have been set aside as affordable housing for residents earning at or below 80 percent of the area median incme. The six Fannie Mae loans refinanced the following properties: All the loans carry fixed interest rates, 10-year terms and 35-year amortization schedules. Five loans are full-term interest only and one features …

February 21, 2025

Investment Sales New Jersey News Northeast

Inland Acquires Community in Union, New Jersey, for $131.5 Million

by Channing Hamilton February 20, 2025

UNION, N.J. — An affiliate of The Inland Real Estate Group of Cos. Inc. has acquired Summit Court, a 393-unit property located at 450 Clermont Terrace in Union, approximately 20 miles southwest of New York City. A joint venture between Fidelco Realty Group and Diversified Properties sold the community for $131.5 million. Built in 2018 and 2023, Summit Court offers a mix of 351 market-rate apartments and 42 affordable housing units. However, income restrictions for the affordable residences were not disclosed. Apartments come in one-, two- and three-bedroom floor plans. The property was …

February 20, 2025

Terracina at Whitney Ranch in Rocklin, California

Affordable Housing California Development News Western

USA Properties Fund Delivers $104 Million Affordable Housing Project in Rocklin, California

by Channing Hamilton February 19, 2025

ROCKLIN, CALIF. — USA Properties Fund has completed Terracina at Whitney Ranch, a $104 million affordable housing property in Rocklin, 21 miles northeast of Sacramento, California. Located at 801 University Ave., Terracina at Whitney Ranch offers 288 units for households that earn between 30 and 70 percent of the median income for Placer County, California. Apartments come in one-, two- and three-bedroom floor plans. Rents for one-bedroom units range from approximately $592 to $1,374 per month, depending on household income, while three-bedroom apartments range from $781 to $2,007 per month. Residents …

February 19, 2025

Stillwell Pasco Station in San Antonio, Florida

Build-to-Rent Development Florida News Southeast

Coastal Ridge Breaks Ground on 277-Unit Build-to-Rent Project Near Tampa, Florida

by Channing Hamilton February 18, 2025

SAN ANTONIO, FLA. — Coastal Ridge has begun construction on Stillwell Pasco Station, a 277-unit build-to-rent development in San Antonio, roughly 30 miles north of Tampa, Florida. The community will offer a mix of one-, two and three-bedroom residences measuring up to 1,300 square feet. The first units are slated for completion in early 2026. The single-bedroom residences will be designed as attached duplex-style homes, while the two- and three-bedroom houses will be detached. Select units will feature private one-car garages. Amenities will include a 5,000-square-foot clubhouse and fitness center, …

February 18, 2025

Affordable Housing California Finance News Western

Partnership Receives $108.3 Million Loan for Recapitalization of Mixed-Income Asset in San Francisco

by Channing Hamilton February 17, 2025

SAN FRANCISCO — Presidio Bay Ventures and American Realty Advisors have secured a $108.3 million loan for the recapitalization of Ventana Residences, a 193-unit community in San Francisco. Ventana Residences was built in 2023. According to the property website, the community offers studio, one-, two- and three-bedroom floor plans. Residents have access to amenities such as two roof deck lounges, a coworking hub with work-from-home spaces and conference rooms, indoor-outdoor fitness center, children’s playground, pet park, electric vehicle chargers, Wi-Fi connectivity and a package room. Gantry brokered the recapitalization, which …

February 17, 2025

Development Georgia News Southeast

Middle Street, AECOM-Canyon Nearing Completion on Two-Tower Midtown Atlanta Project

by Channing Hamilton February 14, 2025

ATLANTA — A joint venture between developers Middle Street Partners and AECOM-Canyon Partners is underway on The Juniper and The Reserve at Juniper, a two-tower multifamily project totaling 487 apartment units. The development is located at 1081 Juniper St., a block from Piedmont Park in Midtown Atlanta. The Juniper will feature 320 units across 37 stories. The top floor will be dedicated to amenity space, including coworking suites, a fitness center and a hot yoga studio. Adjacent to The Juniper, The Reserve at Juniper will comprise 167 apartments across 34 …

February 14, 2025

Development News North Carolina Southeast

Riverside, Woodfield Top Out 42-Story High-Rise Project in Charlotte, North Carolina

by Channing Hamilton February 13, 2025

CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have topped out a 42-story high-rise community in Charlotte. Goettsch Partners designed the building, which consists of 409 units. Clark Construction Group is the general contractor. The tower is the multifamily component of the Queensbridge Collective mixed-use project. The development also features a 35-story office tower, roughly 30,000 square feet of retail space and 90,000 square feet of amenity space, including more than two acres of indoor and outdoor fitness, recreation and entertainment spaces. The apartment community will also include …

February 13, 2025

Affordable Housing Development Florida News Southeast

Housing Trust Group Breaks Ground on $185 Million Mixed-Use Project in Miami

by Channing Hamilton February 12, 2025

MIAMI — Housing Trust Group (HTG) has broken ground on Rainbow Village, a $185 million mixed-use development with 310 affordable housing units in Miami. Spanning 698,000 total square feet, Rainbow Village will also offer about 12,000 square feet of retail space, 50,000 square feet of amenity space and 442 parking spaces. Located at 2000 NW 3rd Ave., Rainbow Village will offer 30 studios, 163 one-bedroom units, 85 two-bedroom residences, 28 three-bedroom units, and 4 four-bedroom apartments. The community will be reserved for households earning at or below 30, 50, 60, 70 …

February 12, 2025

Development Leasing & Marketing New York News Northeast

Carmel Partners Begins Leasing 569-Unit Development in Brooklyn

by Channing Hamilton February 11, 2025

NEW YORK CITY — Carmel Partners has begun leasing Loden, a 569-unit development with 7,483 square feet of retail space located in the Crown Heights neighborhood of Brooklyn. Locally based firm MNS Real Estate will lead leasing and marketing for the development. Loden offers a mix of studio, one- and two-bedroom floor plans. Each apartment is equipped with stainless steel appliances, nickel fixtures and door hardware, quartz countertops and backsplash, washers and dryers and wood-grain plank flooring. The 17-story community features a courtyard and rooftop terrace, both of which feature …

February 11, 2025

Development Finance New York News Northeast

Dwight Mortgage Provides $148 Million Construction Loan for Project in Jamaica, New York

by Channing Hamilton February 10, 2025

JAMAICA, N.Y. — Dwight Mortgage Trust has provided a $148 million loan for the construction of Sutphin II, a 524-unit mixed-income project in Jamaica, roughly 15 miles east of New York City. Steven Hersko of the SHB Group arranged the financing on behalf of the developer, a partnership led by Moshe Braver. The 24-story building will offer 366 market-rate residences and 158 affordable housing units. Income restrictions for the affordable units were not disclosed. Upon completion, however, Sutphin II will quality for a 35-year 421-a tax abatement and Brownfield Redevelopment Tax …

February 10, 2025

Newer Posts

Older Posts