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Investment SalesMidwestMinnesotaNews

Centerspace Sells Twin Cities Portfolio for $76 Million

by Lynn Peisner

MINNEAPOLIS — San Francisco-based FPA Multifamily has purchased a 679-unit portfolio consisting of seven properties throughout the Twin Cities metro from Centerspace (NYSE: CSR), a Minot, North Dakota-based REIT. The Minneapolis/St. Paul Business Journal reports the portfolio traded for $76 million. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented Centerspace in the transaction. Properties in the portfolio range from historic redevelopments in the North Loop area to contemporary, boutique-style assets in the Edina and South Minneapolis submarkets. Several properties have undergone renovations. All seven properties are equipped with SmartRent …

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OscarJames-San-Francisco
Affordable HousingCaliforniaDevelopmentNewsWestern

Jonathan Rose Cos. Opens $133 Million Affordable Housing Community in San Francisco

by Lynn Peisner

SAN FRANCISCO — Jonathan Rose Cos. has opened Oscar James Residences, located about 1.4 miles from the 866-acre Hunters Point Shipyard in San Francisco. This project marks New York City-based Jonathan Rose Cos.’ first ground-up development in San Francisco and its second in California. Oscar James Residences was co-developed with nonprofit partner Bayview Senior Services, though the project is conventional affordable housing, not seniors housing. The $132.9 million project was made possible through a combination of public and private funding sources, with Bank of America serving as an equity investor …

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Fairstead-Alexandria
Affordable HousingDevelopmentNewsNortheastWashington, D.C.

Fairstead Breaks Ground on $120 Million Adaptive Reuse Project in Metro D.C.

by Lynn Peisner

ALEXANDRIA, VA. — Fairstead has broken ground on an affordable housing adaptive reuse project in the Washington, D.C., suburb of Alexandria. On the site of Samuel Madden Homes, originally built to house African American defense workers during World War II, the company will build 207 residences, ranging from one- to four-bedroom units, reserved for families earning 30 to 80 percent of area median income as well as a new community food bank. Completion is slated for fall 2027. Financial partners include permanent and construction lenders Boston Financial, Freddie Mac and …

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Viking-Mill-Philadelphia
DevelopmentFinanceNewsNortheastPennsylvania

Chatham Bay Group Secures $37.5 Million Loan from 3650 Capital for Philadelphia Redevelopment

by Lynn Peisner

PHILADELPHIA — Developer Chatham Bay Group has secured a $37.5 million loan to complete construction of Viking Mill in the East Kensington neighborhood of Philadelphia. The lender was 3650 Capital. Viking Mill is being developed in two phases that are slated to deliver in the first and the fourth quarter of 2026, respectively. The project includes the repositioning of an 1800s-era mill into 77 loft-style apartments as well as the ground-up construction of an additional adjacent building that will house 100 units. The community will provide approximately 7,750 square feet …

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Columbus-Renaissance-Housing-Columbus-Ohio
Affordable HousingInvestment SalesMarket ReportsNews

Multifamily Investor Sentiment Strengthens, Urgency Builds to Deliver More Affordable Housing, 2026 Emerging Trends Forecast Reveals

by Lynn Peisner

Commercial real estate industry leaders are more bullish on the investment prospects for the multifamily sector than they were a year ago, according to the newly released 2026 Emerging Trends in Real Estate forecast conducted by the Urban Land Institute (ULI) and PwC. Among major property types on a scale of 1 to 5 — where 1 is abysmal and 5 is excellent — multifamily (including single-family rentals) achieved a rating of 3.67, second only to mixed-use/alternative assets, which posted a rating of 3.69. The industrial/distribution sector scored 3.61, followed …

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casa-familia-Miami
Affordable HousingDevelopmentFloridaNewsSoutheast

Casa Familia, Pinnacle Break Ground on $27 Million Inclusive Community in Miami

by Lynn Peisner

MIAMI — Casa Familia and Pinnacle have broken ground on Gardens at Casa Familia, a 50-unit affordable housing property designed to serve individuals with intellectual and developmental disabilities. The $27 million project is being funded through multiple sources including Low-Income Housing Tax Credit equity. Nonprofit Casa Familia, which specializes in affordable housing for people with disabilities, partnered with Miami-based developer Pinnacle to build the community. Construction began in September, and completion is slated for the first quarter of 2027. The four-story building will feature 50 one-bedroom apartments, each equipped with …

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Black-Rock-Crossing-Marquette
Affordable HousingDevelopmentMichiganMidwestNews

Woda Cooper Opens Affordable Housing Community in Marquette, Wisconsin

by Lynn Peisner

MARQUETTE, MICH. — Woda Cooper Cos. and the Keweenaw Bay Indian Community (KBIC) have opened Black Rock Crossing in Marquette. Black Rock Crossing offers 50 affordable rental homes, including 26 one-bedroom apartments and 24 two-bedroom apartments. The units are reserved for residents earning a mix of incomes ranging from 30 to 80 percent of area median income. Nine units are set aside for members of KBIC. Amenities include a second-floor outdoor terrace, a multipurpose room with a kitchenette, a fitness center, a laundry area, an outdoor playground and a patio …

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Jefferson-Quail-Creek-Denton
Affordable HousingDevelopmentNewsTexas

JPI Breaks Ground on $103 Million Workforce Housing Community in Denton, Texas

by Lynn Peisner

DENTON, TEXAS — JPI has broken ground on Jefferson Quail Creek, a $103.2 million, 415-unit development in the Dallas suburb of Denton. Located at 3855 Hudsonwood Road, Jefferson Quail Creek will include one-, two- and three-bedroom units and such amenities as a resort-style pool, a courtyard with grills, a beer garden with an outdoor kitchen and seating, a main club room with a café, a resident lounge with TVs and gaming stations, an indoor-outdoor fitness center and yoga studio, open green space and an enclosed dog park. An indoor mail …

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slate-property-group-miami
DevelopmentFinanceFloridaNewsSoutheast

Namdar Group Secures $460 Million in Funding for First and Second Phases of Two-Tower Miami Project

by Lynn Peisner

MIAMI — SCALE Lending has provided a $460 million funding package for Namdar Group’s new Miami development consisting of two 43-story towers in the central business district. The financing contains two parts: a $230 million bridge loan for the completion of 55 NE 2nd Street (Phase 1), which contains 680 units across 358,000 square feet; and a $230 million construction loan for an adjacent ground-up development at 50 NE 3rd Street (Phase II), containing 714 residential units across 395,000 square feet. SCALE Lending is the debt financing division of Slate …

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Prescott-Post-Portsmouth
DevelopmentFinanceNew HampshireNewsNortheast

JLL Arranges $96.8 Million Construction Loan for New Hampshire Development

by Lynn Peisner

PORTSMOUTH, N.H. — JLL Capital Markets has arranged a $96.8 million construction loan through Truist Bank for the development of Prescott Post, a 360-unit project in Portsmouth. The borrowers were Eastern Real Estate and The Kane Co. Construction began in October, and completion is slated for late 2027. Set on 26 acres, the market-rate community will feature approximately 2.7 acres of green and community space as well as such amenities as clubrooms, coworking spaces, an indoor-outdoor fitness area with a yoga studio, outdoor kitchens, fire pits, a dog run with …

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