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Thompson-Oaks-St-Paul
DevelopmentFinanceMidwestMinnesotaNews

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

by Lynn Peisner

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 …

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Upland-Park-Miami
DevelopmentFinanceFloridaNewsSoutheast

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

by Lynn Peisner

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 …

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Portofino-Place-Apartments-WPB
FloridaInvestment SalesNewsSoutheast

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

by Lynn Peisner

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 …

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201-Hudson-Jersey-City
DevelopmentFinanceNew YorkNewsNortheast

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

by Lynn Peisner

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 …

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Robinwood-Annapolis
Affordable HousingDevelopmentMarylandNewsNortheast

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

by Lynn Peisner

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 …

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Attain-at-Swift-Creek-Chester
DevelopmentNewsSoutheastVirginia

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

by Lynn Peisner

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 …

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Village-of-Estero-Florida
DevelopmentFloridaNewsSoutheast

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

by Lynn Peisner

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 …

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Tandem-Providence
Affordable HousingDevelopmentNewsNortheastRhode Island

Pennrose Completes Tandem, a Rhode Island Mixed-Income Community

by Lynn Peisner

PROVIDENCE, R.I. — Pennrose has completed and opened Tandem, the second of a two-phase project in the Fox Point neighborhood of Providence. Along with its sister property, Tempo, which opened in 2025, Tandem completes Pennrose’s redevelopment of Parcel 9, one of the sites created when a stretch of Interstate 195 was relocated in 2009 and former highway land was opened for redevelopment in Providence. Partners on the 9 percent Low-Income Housing Tax Credit project included 195 District, a redevelopment agency; the City of Providence; Webster Bank; RIHousing and several more. …

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Evergreen-East-Fairport
Affordable HousingDevelopmentNewsNortheast

WinnCos. Completes $86M Affordable Housing Redevelopment in Upstate New York

by Lynn Peisner

FAIRPORT, N.Y. — WinnCos. has completed the $86 million redevelopment of Evergreen East, a 508-unit affordable housing community in Fairport. Originally constructed between 1972 and 1976 by the New York State Urban Development Corp. (UDC), the property, formerly known as the Pines of Perinton Apartments, was added to the National Register of Historic Places in January 2023. It was noted as an example of UDC’s suburban housing program, which sought to address post-World War II housing shortages with low-density, mixed-income apartments outside urban centers. The property is about 10 miles …

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Avalon-Denver
Affordable HousingCompany NewsDevelopmentInvestment SalesNewsOperations

Vivmark Becomes Nation’s Largest Apartment REIT

by Lynn Peisner

CHICAGO and ARLINGTON, VA. — AvalonBay Communities and Equity Residential have completed their merger, creating Vivmark Residential, a new real estate investment trust, which began trading on the New York Stock Exchange under the ticker symbol VMRK on Aug. 18. With a portfolio of approximately 184,000 owned apartments and 11,100 units under construction, Vivmark Residential is now the country’s largest multifamily owner, surpassing Greystar. As of Jan. 1, 2026, Greystar ranked as the top U.S. multifamily owner for the third consecutive year with 119,160 units in its portfolio, according to …

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