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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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Choice-Neighborhood-V-Newport-News
Affordable HousingDevelopmentNewsSoutheastVirginia

Pennrose, Partners Break Ground on Final Phase of $120M Newport News Redevelopment

by Lynn Peisner

NEWPORT NEWS, VA. — Construction has begun on the fifth and final phase of the Marshall-Ridley Choice Neighborhood Initiative (CNI) in Newport News. Ridley Place was public housing originally built in 1954 on approximately 18 acres. That community is now being replaced through the CNI, which is a HUD-backed redevelopment plan focused on mixed-income housing, resident services and broader neighborhood investment. Across the phases, Marshall-Ridley CNI leaders leveraged more than $120 million in housing investment. Pennrose’s Phase V, located at 2815 Washington Ave., will add 73 mixed-income units, amenities and …

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Kalaco-Denver
ColoradoFinanceNewsWestern

JLL Arranges $67M Refinancing for Kalaco in Denver

by Lynn Peisner

DENVER — Opus Development and Ares Real Estate have secured a $67 million refinancing loan for Kalaco, a 280-unit mid-rise community in Denver. Kalaco was completed in 2024. The construction take-out loan was arranged by JLL’s Kristian Lichtenfels, Eric Tupler and Ellie Savage. The six-story building is comprised of studio, one-, two- and three-bedroom units and amenities such as a 233-space parking garage, resort-style deck with a pool and hot tub, fire pits and grilling stations, courtyard with lawn games, pet spa, outdoor dog run, a two-level fitness center with …

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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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