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Bainbridge-Midlothian-Virginia
Investment SalesNewsSoutheastVirginia

New York Investor Buys Metro Richmond’s Bainbridge Midlothian for $108M

by Lynn Peisner

MIDLOTHIAN, VA. — Frontier Group of Cos. has acquired Bainbridge Midlothian in the Richmond, Virginia, suburbs for $108 million, marking the Buffalo, New York-based investment firm’s first multifamily acquisition in Virginia. The seller was a joint venture between The Bainbridge Cos. and BVT National Partners, represented by Newmark’s Garrison Gore, Charles Wentworth and Victoria Pickett. Completed in 2024, Bainbridge Midlothian is situated on approximately 25 acres at 12400 Dutton Road in Chesterfield County, 13 miles west of Richmond. The community comprises four residential buildings featuring a mix of studio, one-, …

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Joyfield-Towns-at-German-School-Richmond
Affordable HousingDevelopmentNewsSoutheastVirginia

Standard Communities Breaks Ground on $88M Affordable Housing Development in Richmond, Virginia

by Lynn Peisner

RICHMOND, VA. — Standard Communities has broken ground on Joyfield Towns at German School, an $88 million development that will include 234 affordable three- and four-bedroom townhomes. The development is located at 250 E. German School Road in the Southside area of Richmond, Virginia. The project takes the latter part of its name from German School Road, which was named for a small school that served the area’s German immigrant community in the early 20th century. All units will be income-restricted, including 62 units for households earning up to 50 …

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Independence-Place-Hinesville
FinanceGeorgiaNewsSoutheast

Newmark Launches Bridge Program with $35M Loan for Georgia Property

by Lynn Peisner

HINESVILLE, GA. — Ponte Vedra Beach, Florida-based MFP Capital has secured a $35 million bridge loan from Newmark for Independence Place, a 264-unit community in Hinesville. The financing, which will provide interim capital before a transition to permanent agency debt, marks the first transaction under Newmark’s new Multifamily Bridge Program. Henry Stimler, Bill Weber and Ricky Warner originated the loan. The program provides short-term financing solutions for qualifying multifamily borrowers seeking to transition into permanent financing through Fannie Mae, Freddie Mac or FHA lending programs. Originated and serviced directly by …

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Arc-at-the-Grid-Stafford
FinanceNewsTexas

Lone Star Refinances Two Metro Houston Assets with $110M Loan

by Lynn Peisner

STAFFORD, TEXAS — Affiliates of Lone Star Funds, a London-based global investment firm, have secured a $110 million refinancing loan for two properties in Stafford. The neighboring communities, 1879 at the Grid and Arc at the Grid, were built in 2019 and 2020 respectively and are located within a 192-acre mixed-use redevelopment of the former Texas Instruments campus about 17 miles southwest of Houston called The Grid. Walker & Dunlop’s team led by Dustin Stolly, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Sean Reimer, Michael Ianno and Edward Leboyer …

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One-South-Market-San-Jose
CaliforniaInvestment SalesNewsWestern

Kennedy Wilson and Partners Acquire 312-Unit San Jose Community for $176M

by Lynn Peisner

SAN JOSE, CALIF. — Kennedy Wilson has partnered with two Japanese investment firms to acquire One South Market, a 312-unit community in downtown San Jose, for $176 million. The investment partners are Tokyo-based real estate company Hulic Co. Ltd. and Fuyo General Lease (USA) Inc., the U.S. subsidiary of Japanese financial services company Fuyo General Lease Co. Ltd. The acquisition marks Beverly Hills, California-based Kennedy Wilson’s fifth joint venture with Hulic and its first with Fuyo. Locally based Lakevision Capital was the seller. Built in 2015, One South Market is …

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The-Aurelian-Coral-Gables
DevelopmentFinanceFloridaNewsSoutheast

Pearlmark Provides $81M Construction Loan for The Aurelian in Coral Gables, Florida

by Lynn Peisner

CORAL GABLES, FLA. — Empira Group has obtained an $81 million construction loan to develop The Aurelian, a 160-unit luxury project underway at 114 Calabria Ave. in Coral Gables. Pearlmark was the lender, and CBRE’s Charles Crapse and Denny St. Germain arranged the financing. Behar Font is the architect, and Ortega Construction is the general contractor. The one- and two-bedroom apartments will be complemented by a resort-style pool, fitness center with dedicated yoga studio, coworking areas, a lounge, electric vehicle charging station and a pet grooming suite. Completion is slated …

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Central-at-Old-Southside-Indianapolis
Affordable HousingDevelopmentIndianaMidwestNews

The Annex Group Breaks Ground on $71M Indianapolis Affordable Housing Community

by Lynn Peisner

INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community in Indianapolis. The development team behind the $71 million project includes BVH Architecture, nonprofit partner Impact Housing Indiana, permanent lender Merchants Capital and Bank of America, serving as investor and construction lender. Central at Old Southside is situated on approximately 6 acres and will comprise one-, two- and three-bedroom units reserved for households earning between 50 and 60 percent of the area median income (AMI). Amenities for Central at Old Southside will …

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2201-3rd-Ave-NYC
DevelopmentFinanceNew YorkNewsNortheast

Bravo Property Trust Provides $80M Construction Loan for Developer of East Harlem Tower

by Lynn Peisner

NEW YORK CITY — Bravo Property Trust has provided an $80 million bridge construction loan to Glowstone Group for the development of a 22-story mixed-use building with 194 apartments in East Harlem. Located at 2201 3rd Ave., the project will include 12 studios, 103 one-bedroom and 79 two-bedroom units on floors two through 22. The ground floor will feature two retail spaces totaling approximately 4,510 square feet plus a separate community facility space. Amenities include a gym, coworking space, children’s playroom, pet spa, library, lounge, bike storage, package room, upper-level …

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Junction-at-Rockledge-Florida
ArizonaFinanceFloridaGeorgiaNewsSoutheastWestern

Thompson Thrift Secures $463M Construction Takeout Loan for Eight New Sun Belt Properties

by Lynn Peisner

TERRE HAUTE, IND. — JLL has arranged $463 million in bridge financing for an eight-property portfolio owned by Terre Haute-based Thompson Thrift. Barings provided the floating-rate construction takeout loan for the newly completed properties, comprising 2,412 units, in Florida, Georgia and Arizona. The loan retired existing construction loans across all properties, which were completed throughout 2025 and 2026 in seven metro areas. Each property features amenities such as 24-hour fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor …

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HSR-LBJ-Dallas
Affordable HousingDevelopmentNewsTexas

High Street Residential Breaks Ground on North Dallas Mixed-Income Office Conversion

by Lynn Peisner

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., both based in Dallas, has broken ground on a 435-unit community in North Dallas. Greenwich, Connecticut-based Acram Group is a general partner, and Parse Capital, headquartered in Scottsdale, Arizona, provided an undisclosed sum of equity. The project, yet to be named, is an office conversion. The community will include 218 affordable units and 217 market-rate apartments. Earlier Dallas Public Facility Corp. approvals called for 5 percent of units to be reserved for households earning below 50 percent of area …

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