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Park-Square-Yonkers
DevelopmentNew YorkNewsNortheast

Titan Real Estate Development Breaks Ground on $185M Park Square in Yonkers, New York

by Lynn Peisner

YONKERS, N.Y. — Titan Real Estate Development has broken ground on Park Square Yonkers, a $185 million development at 1 Loehr Place in Yonkers. The seven-story project will feature a mix of 192 studio apartments and 148 one-bedroom apartments. Residents will have access to such amenities as a 15,000-square-foot elevated private outdoor courtyard, a two-level fitness center, a business center with work stations, a lounge, a pet spa and several thousand square feet of dedicated resident storage located within the building. Construction is expected to take approximately 24 months. The …

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Artisan-Point-Naranja
Affordable HousingDevelopmentFinanceFloridaNewsSoutheast

HTG, AM Affordable Housing Break Ground on Artisan Pointe in Naranja, Florida

by Lynn Peisner

NARANJA, FLA. — Housing Trust Group (HTG) and AM Affordable Housing have secured financing to begin construction of the first phase of Artisan Pointe, an affordable housing community in Naranja, 34 miles south of Miami. Located at 26115 S. Dixie Highway, Artisan Pointe will include 115 units in the first phase. Rents for the one- and two-bedroom units are restricted to 30, 60 and 70 percent of area median income (AMI). Monthly rents for qualifying residents will range from $766 for a one-bedroom apartment at the 30 percent AMI tier …

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Everly-Morrison-Ranch-Gilbert
ArizonaFinanceNewsWestern

PCCP Provides $51.8M Refinancing Loan for Everly at Morrison Ranch in Metro Phoenix

by Lynn Peisner

GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the refinancing of Everly at Morrison Ranch in Gilbert. Located at 4353 E. Elliot Road, Everly at Morrison Ranch was built in 2025. The 236-unit community is 97 percent leased and is within Morrison Ranch, a master-planned neighborhood in Gilbert. Units are offered as one-, two- or three-bedroom floor plans complemented by amenities such as a resort-style pool and hot tub, private workspaces, electric vehicle charging stations, …

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8-Carlisle-Manhattan
Company NewsDevelopmentFinanceNewsNortheastOperations

JLL Arranges $617M in Financing for Grubb Properties

by Lynn Peisner

NEW YORK CITY AND CHARLOTTE, N.C. — JLL has arranged $617 million in financing for Charlotte, North Carolina-based Grubb Properties, supporting the formation of a new real estate investment trust and the completion of a 64-story apartment tower in Manhattan’s Financial District. JLL’s mergers and acquisitions and corporate advisory group first advised on the merger of several legacy Grubb Properties funds and their rebranding as Link Apartments REIT. The approximately $1.9 billion Grubb Properties-managed REIT has a portfolio of 45 properties, including more than 5,600 multifamily units. In conjunction with …

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Palm-Court-Los-Angeles
CaliforniaInvestment SalesNewsWestern

Prime Residential Buys Palm Court in Los Angeles for $51.3M

by Lynn Peisner

LOS ANGELES — San Francisco-based Prime Residential has acquired Palm Court Apartments in the Miracle Mile neighborhood of Los Angeles for approximately $51.3 million. The seller was a private investor. The 132-unit property was built in 1988 and consists of one-, two- and three-bedroom floor plans as well as a heated pool and a hot tub, fitness center, a rooftop deck and laundry facilities on each floor. Marcus & Millichap represented both parties. Jeff Louks, Gayle Factor and Elliot Sabag represented the seller while Matt Ziegler, Louks, Factor and Sabag …

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Enclave-at-Canopy-Park-Orlando
Affordable HousingDevelopmentFloridaNewsSoutheast

Archway, FK Architecture Open The Enclave at Canopy Park in Orlando

by Lynn Peisner

ORLANDO, FLA. — Archway Partners, along with FK Architecture, has completed and opened The Enclave at Canopy Park, a 104-unit affordable housing community at 4440 Canopy Park Loop in Orlando. Construction began in April 2025. The Enclave at Canopy Park offers one- and two-bedroom apartments for households earning no more than 22 or 80 percent of the area median income. Orange County invested $3 million from the Affordable Housing Trust Fund to support the project, helping provide rents as low as $400 per month for qualifying households. Rents will average …

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Exchange-at-Westgate-Leland
Investment SalesNewsNorth CarolinaSoutheast

Hathaway Cos. Sells Exchange at Westgate in Eastern North Carolina for $58.7M

by Lynn Peisner

LELAND, N.C. — Hathaway Cos. has sold Exchange at Westgate in Leland to Argyle Real Estate Capital for $58.7 million. JLL represented Hathaway in the transaction. The 312-unit property is located at 5214 Browning Lane about 9 miles west of Wilmington. Completed in 2023, Exchange at Westgate features studios, one-, two- and three-bedroom units averaging 931 square feet. The community offers a saltwater pool, fitness center, cyber cafe, clubhouse and grilling areas. Unit interiors are outfitted with granite countertops, stainless steel appliances, wood-style flooring and ceramic tile backsplashes. JLL Capital …

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Citiwalk-Rochester
DevelopmentMidwestMinnesotaNews

Inland, RWD Break Ground on $139M Citiwalk Project in Rochester, Minnesota

by Lynn Peisner

ROCHESTER, MINN. — Inland National Development Co. and Reuter Walton Development (RWD) have broken ground on Citiwalk Apartments, a 342-unit project in downtown Rochester across the street from the Mayo Clinic. The Minneapolis/St. Paul Business Journal reports the land was assembled and purchased for $20 million in April and that the total project cost is $139 million. The community will contain apartments as well as 90 short-term stay units intended to support patients and caregivers who travel to Rochester for treatment. Located at 201 6th Ave., Citiwalk Apartments will feature …

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NEMA-Chicago
FinanceIllinoisMidwestNews

JLL Arranges $332M for Chicago Luxury Tower Refinancing

by Lynn Peisner

CHICAGO — JLL has arranged a $275 million loan and $57 million in mezzanine financing for NEMA Chicago, a 76-story luxury tower at 1210 South Indiana Ave. in Chicago. The property was developed in 2019 by Miami-based Crescent Heights, which is the borrower. The five-year, fixed-rate loan was provided by New York Life Insurance Co., while the mezzanine loan was sourced through PGIM’s real estate business. NEMA Chicago features 70,000 square feet of amenities spanning indoor and outdoor pools, a full-size basketball court, squash court, boxing ring, golf simulator, movie …

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Alafia-East-New-York
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

Apex, L+M Obtain $217M to Finance Phase II of Alafia in Brooklyn

by Lynn Peisner

NEW YORK CITY — Apex Building Group and L+M Development Partners have obtained approximately $217 million in financing for the third phase of the Alafia project, an affordable housing community in the East New York neighborhood of Brooklyn. The nonprofits RiseBoro Community Partnership and Services for the Underserved also are partners. The financing package is backed by federal and state affordable housing tax credits, tax-exempt bonds, state subsidies, construction loans from Redstone Bank, funding from Goldman Sachs Urban Investment Group and more. Phase III will consist of two residential buildings …

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