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Eliot-on-ocean-Revere
DevelopmentFinanceNewsNortheast

Invictus Obtains $67.3M Loan for Renovations to Metro Boston Beachfront Property

by Lynn Peisner

REVERE, MASS. — JLL has arranged a $67.3 million refinancing loan through Bridge Investment Group Holdings for Eliot on Ocean, a 194-unit waterfront property along Revere Beach in Revere, Massachusetts. The borrower was New York City-based Invictus Real Estate Partners. Built in 2016, Eliot on Ocean is adjacent to the MBTA Wonderland Blue Line train station and features ocean views. Invictus plans to apply loan proceeds to renovations targeting common areas and unit interiors. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace. The unit …

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Parkside-Commons-Syracuse
Affordable HousingDevelopmentFinanceNew YorkNewsNortheast

BFC Partners and SAA Canopy Group Secure $269M to Finance Affordable Housing Redevelopment in Syracuse, New York

by Lynn Peisner

SYRACUSE, N.Y. — BFC Partners and SAA Canopy Group have obtained $269 in financing for the redevelopment of the Parkside Commons housing complex in Syracuse. The developers will deliver 393 affordable apartments via renovated and newly constructed units. Rent restrictions were not disclosed The property currently consists of 10 buildings. With this construction financing, the development team will renovate six of those buildings and construct two new ones. Existing tenants who live in the four oldest structures, which eventually will be demolished, will relocate to the two new buildings. Financing …

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AVIA-Mesa
ArizonaInvestment SalesNewsWestern

Geringer Capital Sells Avia 266 in Metro Phoenix for $52.4M

by Lynn Peisner

MESA, ARIZ. — CBRE has arranged the $52.4 million sale of Avia 266. Beverly Hills, California-based Geringer Capital sold the 267-unit community in Mesa, which will be renamed The Remy, to San Diego-based ColRich. The sales price includes the assumption of an existing HUD loan. The property was developed in 1984 and includes two pool and hot tub areas, a 24-hour fitness center, an outdoor courtyard, a clubhouse with a community kitchen, package lockers and a fenced dog park. CBRE’s Matt Pesch, Asher Gunter and Austin Groen represented Geringer in …

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Camden-Hollywood
CaliforniaInvestment SalesNewsWestern

BlackRock Acquires 11-Property Camden Property Trust Portfolio for $1.6B

by Lynn Peisner

HOUSTON — Camden Property Trust (NYSE: CPT) has sold an 11-property, 3,620-unit apartment portfolio in Southern California for approximately $1.6 billion. The buyer was an investment entity managed by BlackRock (NYSE: BLK). According to JLL, which represented Camden in the sale, the portfolio’s 3,620 units equal 16.5 percent of the relevant Southern California markets’ average annual transaction volume by unit count over the past five years. JLL characterized the transaction as unusually large for markets where owners typically hold multifamily properties for long periods. The properties are located across Los …

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Village-at-Lake-Forest-Jacksonville
Affordable HousingFinanceNews

JPMorganChase Commits $750B to Increase Housing Supply

by Lynn Peisner

NEW YORK CITY — JPMorganChase has announced it will deploy $750 billion to support affordable housing production through 2035. Called the American Dream Initiative, the $750 billion commitment will serve both renters and homebuyers and represents a 40 percent increase in housing funding compared with the past decade. The plan calls for increased capital deployed through available tools such as debt, equity and grants to build or preserve housing supply. JPMorganChase will partner with developers, owners, nonprofits and governments to back 1,000,000 rental units affordable to households earning no more …

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Maple-Knoll-Westfield
FinanceIndianaInvestment SalesMidwestNews

Hudson Investing Secures $52.1M in Debt and Equity to Acquire Metro Indianapolis Asset

by Lynn Peisner

WESTFIELD, IND. — Locally based Hudson Investing has obtained financing to acquire Maple Knoll Apartments, a 300-unit community in the Indianapolis suburb of Westfield. Northmarq’s Annamarie Bjorklund and Cody Field arranged a Freddie Mac loan and secured equity from Torchlight Investing. The financing totals $52.1 million. Located at 500 Bigleaf Maple Way in Westfield, the garden-style property was built in 2007 and features 18 three-story buildings with one-, two- and three-bedroom units averaging 1,002 square feet. Hudson is planning a value-add repositioning strategy to grow rents.

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Marine-Drive-Buffalo
Affordable HousingDevelopmentNew YorkNewsNortheast

Habitat Starts Construction of First Phase of $600M Affordable Housing Redevelopment in Buffalo, New York

by Lynn Peisner

BUFFALO, N.Y. — The Habitat Co., along with partners Duvernay + Brooks and Bridges Development, an affiliate of the Buffalo Municipal Housing Authority, has started construction of the first phase of the Marine Drive Apartments public housing redevelopment in Buffalo. The $250 million first phase will include 254 affordable apartments across four newly constructed residential buildings. Built in the 1950s, the existing seven-building Marine Drive public housing complex faced aging infrastructure and dated building systems. The three-phase redevelopment will replace the original 616 apartments with approximately 730 new homes. Phase …

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Acappella-Lynnwood
Investment SalesNewsWashingtonWestern

Weidner Sells Puget Sound Asset for $112M

by Lynn Peisner

LYNNWOOD, WASH. — Weidner Apartment Homes has sold A’Cappella Apartment Homes in Lynnwood for $112 million. The Puget Sound Business Journal identifies Pacific Urban Investors as the buyer. Kyle Yamamoto, Eli Hanacek and Natalie Kasper of CBRE’s Pacific Northwest multifamily team represented Weidner. Built in 1989, A’Cappella is located at 15001 35th St. and was 95 percent occupied at the time the deal closed. Lynnwood sits at the northern terminus of Sound Transit’s Link light rail, which opened in August 2024 and connects residents to Seattle.

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Ekos-at-Rockledge-Park-Rockledge
Affordable HousingDevelopmentFloridaNewsSoutheast

McDowell Housing Partners Breaks Ground on $38.2M Affordable Housing Community in Rockledge, Florida

by Lynn Peisner

ROCKLEDGE, FLA. — McDowell Housing Partners (MHP) has begun construction of Ekos at Rockledge Park, a $38.2 million, 100-unit affordable housing community in Rockledge. The property’s one-, two- and three-bedroom units will be reserved for households earning up to 30, 60 and 70 percent of area median income. The LIHTC project will be built to National Green Building Standards. Units will be equipped with Energy Star-rated appliances, low-flow plumbing fixtures, LED lighting and other energy-efficient features. Amenities feature a clubhouse, fitness center, business center with computer stations, package lockers, community …

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Atlas-Peakview-Centennial
ColoradoFinanceNewsWestern

Mesa West Capital Delivers $81M Refinancing for Atlas Peakview in Centennial, Colorado

by Lynn Peisner

CENTENNIAL, COLO. — Mesa West Capital has provided an $81 million short-term first mortgage loan to a joint venture between The Dinerstein Cos. and PGIM. The loan will refinance Atlas Peakview, a 330-unit development in the Denver suburb of Centennial. Walker & Dunlop’s Tom Melody, Paul House and John Melody arranged the loan. The property has reached 85 percent occupancy since opening in 2025. Atlas Peakview, located at 7800 E. Peakview Ave., offers studio through three-bedroom apartment floor plans and two- and three-bedroom townhomes. Community amenities include a resort-style pool …

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