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The-Hedrick-Kissimme
DevelopmentFinanceFloridaNewsSoutheast

Hedrick Brothers Obtains $56.5M Loan, Breaks Ground on 366-Unit Project in Kissimmee, Florida

by Lynn Peisner

KISSIMMEE, FLA. — Hedrick Brothers Development has obtained a $56.5 million construction loan for The Hedrick at Lake Toho, a 366-unit community along Toho Grande Boulevard in Kissimmee. Construction has commenced, with completion slated for the end of 2028. Pre-leasing is expected to begin in 2027. Located on approximately 22 acres, The Hedrick at Lake Toho will feature a mix of one-, two- and three-bedroom units complemented by a resort-style pool with cabanas and fire pit, clubhouse with coworking and gaming spaces, pickleball courts, a yoga lawn, dog park, pet …

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GoodHomes-Arlington
Affordable HousingDevelopmentInvestment SalesNewsNortheastVirginiaWashington, D.C.

GoodHomes Acquires Metro D.C. Hotel, Plans Multifamily Conversion

by Lynn Peisner

ARLINGTON, VA. — GoodHomes Communities has acquired Arlington Court Suites in Alexandria for $35 million and plans to convert the 187-unit hotel into a 180-unit multifamily community. The KLNB multifamily capital markets team led by Rawles Wilcox, Justin Shay and Dutch Seitz and the HREC Investment Advisors team of Mark Morris and Scott Stephens represented the seller, Arlington Hotel Holdings Inc. GoodHomes is a New York City-based investor that acquires under-performing hospitality and seniors housing assets and redevelops them as workforce housing serving residents earning between 60 and 120 percent …

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CRU-Redmond
Investment SalesNewsWashingtonWestern

Goodman Real Estate Sells Two Metro Seattle Assets for $172M

by Lynn Peisner

SEATTLE — Goodman Real Estate has sold two metro Seattle properties for a combined total of $172 million. CBRE’s Eli Hanacek, Kyle Yamamoto and Natalie Kasper represented the Seattle-based seller in both transactions. Each property was developed in 2024 and sold to undisclosed buyers. CRU at Willows 124 in Redmond traded for $94 million. The 195-unit, six-story building sits on 1.6 acres within a master-planned community adjacent to Willows Run Golf Club. It includes 22,998 square feet of fully leased commercial space across three suites. The property features a mix …

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Beach-Blvd-Jacksonville-Beach
Affordable HousingDevelopmentFloridaNewsSoutheast

Trevato Breaks Ground on $120M Mixed-Use Development in Jacksonville Beach

by Lynn Peisner

JACKSONVILLE BEACH, FLA. — Locally based Trevato Development Group has broken ground on a $120 million mixed-use development at the former Adventure Landing site in Jacksonville Beach. Adventure Landing was an amusement and water park that opened in the 1990s and operated for roughly 30 years. Trevato acquired the property in 2021. The project, which has not yet officially been named, will include 415 units of market-rate and workforce housing, 1,800 square feet of ground-level retail space and a viewing platform overlooking the Intracoastal Waterway. The site is on Beach …

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333-Flower-Los-Angeles
Affordable HousingCaliforniaDevelopmentNewsWestern

Kennedy Wilson, Jamison Team Up to Develop 4,000 Units of Affordable Housing in Los Angeles

by Lynn Peisner

LOS ANGELES — Kennedy Wilson and Jamison have partnered to develop 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction. Specifically, the partnership is comprised of Jamison’s affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development group, Vintage Housing. According to Bloomberg, the development cost is approximately $1.7 billion. The Los Angeles Times reports the partners will deliver the units via 15 separate projects. The team will begin with the conversion of the former L.A. World Trade Center, a 10-story office complex developed in …

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Alesio-Urban-Center-Irving
BerkadiaFinanceNewsTexas

Berkadia Arranges $124.7M Refinancing for HGI’s Alesio Urban Center in Irving, Texas

by Lynn Peisner

IRVING, TEXAS — Berkadia has arranged a $124.7 million refinancing loan for Alesio Urban Center, a mixed-use community with 908 units and 55,499 square feet of commercial space in the Las Colinas mixed-use planned community in Irving. The sponsor was Harbor Group International (HGI). The loan proceeds will be used to retire the existing mortgage and cover closing costs. The property was developed in two phases between 1987 and 1995. HGI acquired the asset in 2021. Alesio Urban Center spans 17.3 acres and consists of 14 three- to six-story residential …

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1920-Turnbull-Bronx
Affordable HousingDevelopmentNew YorkNewsNortheast

Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx

by Lynn Peisner

NEW YORK CITY — Gilbane and partners have closed on financing for 1920 Turnbull, a $170 million, 228-unit affordable and supportive housing project in the Castle Hill/Soundview neighborhood of the Bronx. Apartments are income-restricted to households earning up to 60 percent area median income, and 137 units will be reserved as permanent supportive housing. Strada Development and the Center for Urban Community Services (CUCS) are co-developers, with CUCS also serving as a service provider. Upon completion, slated for March 2029, CUCS will operate a 3,500-square-foot on-site office space providing residents …

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Watkins-Mill-Gaithersburg
Investment SalesMarylandNewsNortheast

RailField Partners Acquires 210-Unit Maryland Property from Elme Communities

by Lynn Peisner

GAITHERSBURG, MD. — RailField Partners has acquired Elme Watkins Mill, a 210-unit garden-style community in the Washington, D.C., suburb of Gaithersburg, from Elme Communities (NYSE: ELME). The property was purchased by RailField’s RG Value Add Fund, a joint venture with GCM Grosvenor (Nasdaq: GCMG), whose real estate business encompasses about $7 billion across 2,200 properties. The transaction comes as Elme Communities continues to wind down its portfolio under a shareholder-approved plan of sale and liquidation. Elme Watkins Mill was among the remaining assets. The REIT has announced it will sell …

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Elara-at-The-Market-Seattle
Affordable HousingInvestment SalesNewsWashingtonWestern

Seattle Housing Agency Buys its First Property for $60.9M

by Lynn Peisner

SEATTLE — The Seattle Social Housing Developer (SSHD) has acquired its first multifamily property since city voters approved the creation of the independent public development authority in 2023. Spartanburg, South Carolina-based Johnson Development Associates sold Elara at the Market to SSHD for $60.9 million. Kidder Mathews arranged the sale. The 150-unit property, which Johnson Development Associates built in 2017, is half a mile northwest of Pike Place Market. In 2023, Seattle city residents voted on Initiative 135, a local citizen-led ballot measure that officially chartered SSHD. In 2025, city voters …

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Tides-on-McDowell-Phoenix
ArizonaInvestment SalesNewsWestern

Nitya Capital Buys Tides on McDowell in Phoenix for $41M

by Lynn Peisner

PHOENIX — Tides Equities has sold Tides on McDowell at 4620 W. McDowell Road in Phoenix to Nitya Capital for $41 million. Northmarq’s Phoenix-based team led by Jesse Hudson, Logan Baca and Chris Michl represented the Los Angeles-based seller. Nitya is headquartered in Houston. Built in 1985 and sitting on roughly 13 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floor plans. The property features a mix of renovated, partially upgraded and original-condition units. Amenities include a pool, soccer field, playground, leasing office, fitness center, …

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