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Livewell-Bluffton
Affordable HousingDevelopmentNewsSouth CarolinaSoutheast

Woda Cooper and Partners Break Ground on $39M Livewell Terrace in Bluffton, South Carolina

by Lynn Peisner

BLUFFTON, S.C. — Beaufort Memorial and Woda Cooper Cos. have begun construction of Livewell Terrace, a 120-unit affordable housing community in Bluffton, 23 miles northeast of Savannah, Georgia. The project consists of a mix of one-, two- and three-bedroom units rented at monthly rates ranging from $700 to $1,725. Amenities will include a business center, fitness facility, playground and community park. Livewell Terrace is being constructed on 7 acres of land provided by Beaufort Memorial, a nonprofit hospital system. The community is intended to serve healthcare workers. The $39 million …

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Latitude-Everett
Investment SalesNewsWashingtonWestern

Jackson Square Sells Latitude in Everett, Washington, for $24.5M

by Lynn Peisner

EVERETT, WASH. — Jackson Square Properties has sold Latitude, a 108-unit property in Everett’s Lake Stickney neighborhood, to Bridge Housing for approximately $25.4 million. The asset was developed in 1986. Its six residential buildings along with a standalone clubhouse are situated on 4 acres. Amenities include a courtyard with a barbecue area and firepit, fitness center and a fenced-in dog park. The unit mix is comprised of one- and two-bedroom floor plans. IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino represented the San Francisco-based seller and …

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1740-Broadway-NYC
DevelopmentFinanceNew YorkNewsNortheast

Madison Realty Capital Originates $480M Loan for Midtown Manhattan Office-to-Residential Project

by Lynn Peisner

NEW YORK CITY — Madison Realty Capital has originated a $480 million loan for the office-to-residential conversion of 1740 Broadway in Midtown Manhattan. Yellowstone Real Estate Investments was the borrower, while Ackman-Ziff’s Jason Krane, Russ Schildkraut and Simon Ziff arranged the financing. The 523,051-square-foot, 27-story office building will be converted to a residential community consisting of 238 multifamily units and 182 condos. Amenities will include a resort-style lap pool, hot tub, a speakeasy bar in the building’s original bank vault and lounge and deck spaces. The property also includes 18,055 …

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Attain-at-Greenbrier-Chesapeake
DevelopmentNewsSoutheastVirginia

Bonaventure Breaks Ground on $74.5M Project in Chesapeake, Virginia

by Lynn Peisner

CHESAPEAKE, VA. — Bonaventure has broken ground on Attain at Greenbrier, a 268-unit community in Chesapeake’s Greenbrier submarket. The $74.5 million development is part of the Alexandria, Virginia-based investment and development firm’s Attain portfolio. Delivery is slated for late 2027. The site, previously home to a commercial call center, was acquired and rezoned by Bonaventure in 2022. The Greenbrier community will consist of three four-story buildings containing a mix of one-, two- and three-bedroom units averaging 1,037 square feet. Marlyn Development Corp. is serving as the general contractor, RBA is …

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Two-Clinton-Park-New-Rochelle
BerkadiaFinanceNew YorkNewsNortheast

Berkadia Arranges $126.4M ReFi for Two Clinton Park in New Rochelle, New York

by Lynn Peisner

NEW ROCHELLE, N.Y. — Berkadia has arranged a $126.4 million refinancing loan for Two Clinton Park, a 28-story, 390-unit luxury tower in New Rochelle that was completed in 2024. The Westchester County community is 93 percent occupied. RXR and Bridge Investment Group were the borrowers for the Fannie Mae near-stabilization loan. Located at 50 Clinton Place, Two Clinton Park features studios and one- and two-bedroom units ranging from 461 to 1,197 square feet as well as penthouse residences. Amenities include coworking lounges, a fitness center, hot tub and sauna, screening …

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Ellis-Creek-North-Charleston
Affordable HousingInvestment SalesNewsSouth CarolinaSoutheast

South Carolina Acquisition Takes Waverly Place from Market-Rate to Affordable Housing

by Lynn Peisner

NORTH CHARLESTON, S.C. — A joint venture comprised of McLean, Virginia-based KETTLER and The Stillman Group of Scarsdale, New York, has sold Waverly Place, a 276-unit community in North Charleston. The buyer was the Charleston Workforce Housing Fund, an impact fund led by Charlotte, North Carlonia-based Ascent Housing in partnership with Housing Collaborative, a Charleston-based affordable housing nonprofit. The acquisition is part of a citywide initiative to expand affordable and workforce housing across the region. According to The Post and Courier, the asset sold for approximately $41 million. Newmark’s Alex …

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95-Everett-Boston
Affordable HousingDevelopmentMassachusettsNewsNortheast

Pennrose Breaks Ground on $51.9M Mixed-Income Boston TOD

by Lynn Peisner

BOSTON — Pennrose has begun construction of 95 Everett Street, an 88-unit, transit-oriented, mixed-income development in the Allston-Brighton neighborhood of Boston. The approximate project cost, according to the City of Boston, is $51.9 million. The property is across the street from the Boston Landing MBTA commuter rail station. Units offered as studios or with one, two or three bedrooms will come with rent restrictions ranging from 30 up to 120 percent of area median income. Residents will have access to a clubhouse, rooftop terrace and a fitness center. Pennrose Management …

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Riverhouse-9-Weehawken
Company NewsMassachusettsNew JerseyNewsNortheastOperations

RHO Residential Tapped to Manage Former Veris Residential Portfolio

by Lynn Peisner

ROSELAND, N.J. — RHO Residential has been selected by the new ownership of Veris Residential to manage 15 properties in New Jersey and greater Boston. Veris Residential (NYSE: VRE) was taken private in an acquisition finalized in May. Craig Solomon of Affinius Capital in partnership with Vista Hill Partners, a real estate investment and development group headed by Bradford Klatt and Jonathan Kushner, bought the REIT for $3.5 billion. The assignment nearly doubles RHO Residential’s unit count to just under 12,000 apartments across 40 communities as well as approximately 182,000 …

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Warner-Swasey-Cleveland
Affordable HousingDevelopmentMidwestNewsOhio

Pennrose Breaks Ground on $64M Adaptive Reuse Project in Cleveland

by Lynn Peisner

CLEVELAND — Pennrose and nonprofit partner MidTown Cleveland have broken ground on the $64 million redevelopment of the former Warner & Swasey factory in Cleveland. In October 2025, Pennrose acquired the building at 5701 Carnegie Ave. from the City of Cleveland. The development team, working on this project since 2017, drew on 24 capital sources to bring the plans to fruition, including contributions from the City of Cleveland, Cuyahoga County and the Cleveland Foundation, among other public and private partners. Constructed in the early 1900s, the 194,000 square-foot, five story …

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Render-Legacy-Trail-Nokomis
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $82.1M Refinancing for Crescent Communities’ Render Legacy Trail in Sarasota County

by Lynn Peisner

NOKOMIS, FLA. — Berkadia has arranged an $82.1 million refinancing loan for Render Legacy Trail, a 450-unit property that borrower Crescent Communities completed in 2024. Berkadia D.C. Metro’s Patrick McGlohn, Brian Gould, Hunter Wood, Natalie Hershey and Patrick Cunningham arranged the financing through lender Benefit Street Partners. Render Legacy Trail is situated on approximately 18 acres at 15560 Render Way. The property offers a mix of one-, two- and three-bedroom floor plans. Amenities include a resort-style saltwater pool with cabanas, outdoor grilling and dining areas, a clubroom with coffee bar, …

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