Top Story

Independence Realty Trust, Centerspace Agree to $8.1B Merger

by Lynn Peisner September 10, 2026

PHILADELPHIA — Independence Realty Trust (NYSE: IRT) and Centerspace (NYSE: CSR) announced Sept. 9 an agreement to merge in an all-stock transaction. The combined company will retain the Independence Realty Trust name and NYSE ticker IRT. The transaction is expected to close as early as the end of 2026, at which point, Centerspace shares will cease trading under the CSR ticker. The combined REIT is expected to have a market value of about $5 billion and an enterprise value of roughly $8.1 billion. The combined REIT will be headquartered at …

September 10, 2026

IPA Arranges $35.1M Sale of East Howe Steps in Seattle

by Lynn Peisner September 9, 2026

SEATTLE — Bender Equities has sold East Howe Steps in Seattle’s Eastlake neighborhood for approximately $35.1 million. The buyer was Sequel Investment Co. and Evergreen Gavekal. Institutional Property Advisors’ Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented Bender. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing. Completed in 2016, East Howe Steps is a two-building, four-story property with a rooftop deck, landscaped courtyards, a fitness center, controlled access parking, bike storage and on-site paddleboard and kayak …

September 9, 2026

Affordable Housing Development Finance New York News Northeast

Namdar Group Secures $390M for Jersey City Tower

by Lynn Peisner September 8, 2026

JERSEY CITY, N.J. — New York City-based developer Namdar Group has secured $390 million in financing for Park Tower, a 1,049-unit, transit-oriented, mixed-income development in Jersey City’s Journal Square neighborhood. A start date was not announced. Completion is slated for May 2029. Park Tower adds to Namdar’s extensive Journal Square portfolio, where the developer has delivered more than 2,000 apartments as part of a multi-year buildout around the neighborhood’s PATH station. The PATH train provides direct access to the World Trade Center in Lower Manhattan. Affinius Capital provided a $310 …

September 8, 2026

Development Finance Midwest Minnesota News

Greco, Swervo Secure $76.3M for 291-Unit West St. Paul Development

by Lynn Peisner September 4, 2026

WEST ST. PAUL, MINN. — Greco and Swervo Management have obtained $76.3 million in financing to develop Thompson Oaks, a 291-unit project in West. St. Paul. Thompson Oaks is the first phase of a larger redevelopment of the former West St. Paul YMCA and adjacent city-owned land, which has sat largely vacant since Hy-Vee demolished the YMCA in 2020 and later abandoned plans for a grocery store. The financing package includes a $63 million, four-year, floating-rate loan through First International Bank & Trust and $13.3 million in equity from WhiteStar …

September 4, 2026

Development Finance Florida News Southeast

Terra Obtains $245M in Permanent Financing for First Phase of Miami’s Upland Park Project

by Lynn Peisner September 3, 2026

MIAMI — Locally based development firm Terra has secured $245 million in takeout financing following the completion and stabilization of Phase I of Upland Park, a $1 billion, 47-acre mixed-use development in Miami. Slate Property Group was the lender. Designed by PPK Architects, in collaboration with master plan architect Arquitectonica and urban planners Plusurbia Design, Upland Park will be built in multiple phases. Future phases will include additional mid-rise and garden-style apartments, retail and commercial space. Construction of the project’s second residential phase, which will add another 484 apartments, is …

September 3, 2026

Florida Investment Sales News Southeast

Fairfield Acquires 812-Unit Portofino in West Palm for $208M

by Lynn Peisner September 2, 2026

WEST PALM BEACH, FLA. — San Diego-based Fairfield Residential has acquired the 812-unit Portofino Place in West Palm Beach. The asset sold for $208 million, and the seller was Atlanta-based Cortland Partners, according to the South Florida Business Journal. Located at 4400 and 4600 Portofino Way, the property is comprised of one-, two- and three-bedroom apartments as well as two-story lofts and four resort-style pools. Additional amenities include a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park, guest suite accommodations and multiple social …

September 2, 2026

Development Finance New York News Northeast

Joint Venture Secures $277M Construction Loan for 69-Story Project in Jersey City

by Lynn Peisner September 1, 2026

JERSEY CITY, N.J. — Newmark has arranged a $277 million construction loan for Urby and Rockpoint, the developers behind 201 Hudson — by Urby, a 748-unit project planned in the Paulus Hook neighborhood along the Jersey City waterfront. Truist was the lender. Newmark’s Jordan Roeschlaub, Chris Kramer, Holden Witkoff and Jack Fenton arranged the financing. The development site is located at 201 Hudson St. and represents the second phase of Urby’s three-tower waterfront residential development. Upon completion, the 69-story tower will include 748 apartments — in studios, one-, two- and …

September 1, 2026

Affordable Housing Development Maryland News Northeast

First Phase of $105.8M Annapolis Public Housing Redevelopment to Include 58 Units

by Lynn Peisner August 31, 2026

ANNAPOLIS, MD. — A $105.8 million redevelopment of the 150-unit Robinwood public housing community is moving forward with plans for 58 new apartments, renovated townhomes, new seniors housing and expanded community amenities. The developers are Community Housing Partners (CHP), a Virginia-based affordable housing developer, and the Housing Authority of the City of Annapolis (HACA). Additional stakeholders include the City of Annapolis, Anne Arundel County, the State of Maryland and the U.S. Department of Housing and Urban Development (HUD). Robinwood was built in 1970 as a public housing community and today …

August 31, 2026

Development News Southeast Virginia

Bonaventure Breaks Ground on $93.3M Attain at Swift Creek in Virginia

by Lynn Peisner August 28, 2026

CHESTER, VA. — Bonaventure has broken ground on Attain at Swift Creek, a 344-unit community in Chester, about 19 miles south of Richmond. Walker & Dunlop arranged a $93.3 million HUD loan that includes both construction and permanent debt. KBS is the general contractor, RBA is the architect, and Timmons Group is the civil engineer. A property management partner will be announced ahead of lease-up. Attain at Swift Creek will include one-, two- and three-bedroom units. Completion is slated for 2028. Alexandria, Virginia-based investment firm Bonaventure’s Attain pipeline is concentrated …

August 28, 2026

Development Florida News Southeast

FRP, Woodfield Start Construction of Mixed-Use Village of Estero

by Lynn Peisner August 27, 2026

ESTERO, FLA. — FRP Development Corp. and Woodfield Development have begun construction of a multi-phase project in Estero, about 20 miles south of Fort Myers, Florida. Santander Bank provided an $81 million construction loan for the first phase of development, which will include 286 apartments and 30,000 square feet of retail space. Completion is slated for 2027. Brooks & Freund is the general contractor, and ID & Design International is leading interior design. Dover, Kohl & Partners served as master planner for the overall mixed-use development, while Humphreys & Partners …

August 27, 2026

Newer Posts

Older Posts