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Post Brothers Receives $170 Million in Construction Financing for Second Phase of Philadelphia Piazza Project

by Lynn Peisner October 10, 2025

PHILADELPHIA — Affinius Capital has originated a $170 million construction loan to finance development of Piazza Alta Phase II, a 431-unit project in Philadelphia’s Northern Liberties neighborhood. Locally based Post Brothers is the developer, and Ackman-Ziff arranged the loan. The community will feature two buildings, one eight and one 16 stories, containing studios and one-, two- and three-bedroom floor plans. Amenities will include a rooftop lap and lounge pool, grilling stations, fire pits, a fitness and yoga center, dry saunas, steam rooms, coworking spaces and bike storage. Post Brothers completed …

October 10, 2025

Build-to-Rent Development Finance Kansas Midwest News

MCP, Bluerock Break Ground on Kansas City BTR Development

by Lynn Peisner October 9, 2025

SHAWNEE, KAN. — Material Capital Partners (MCP) has secured $77.8 million in financing and begun construction on Harmony at Clear Creek, a 188-unit build-to-rent (BTR) community in Shawnee, 12 miles southwest of Kansas City, Kansas. Bluerock is MCP’s financial partner on the project. Bank OZK provided the construction loan, and Winchester Commercial Group is the general contractor. In addition to the loan, MCP is using equity from its BTR Development Fund I, which also is a funding source for two other BTR projects in the pipeline: Indigo Cove, an 83-unit …

October 9, 2025

Development Finance New Jersey News Northeast

Maxal Group Secures First-Phase Financing for $1 Billion Riverfront Development in New Jersey

by Lynn Peisner October 8, 2025

EDGEWATER, N.J. — S3 Capital has originated a $255 million construction loan for The Maxal Group’s 615 River Road, a multifamily project that will comprise the first phase of construction of a $1 billion redevelopment along the Hudson River in Edgewater. The 25-story community will include 381 units, ground-floor retail space and parking for approximately 500 vehicles. Amenities include a fitness center, indoor pool and hot tub, a sauna, golf simulator, sports court, workspaces and a stadium-style screening room. FXCollaborative is the architect, and CetraRuddy is the interior designer. Galaxy …

October 8, 2025

Investment Sales New Jersey News Northeast

Site Centers Corp. Sells New Jersey Mixed-Use Project for $53.2 Million

by Lynn Peisner October 7, 2025

EDGEWATER, N.J. — JLL Capital Markets has arranged the $53.2 million sale of Edgewater Towne Center, a mixed-use property directly across the Hudson River from Upper Manhattan. The asset features 76,525 square feet of retail, anchored by Whole Foods Market, and 64 apartments located above the retail. JLL represented the seller, Site Centers Corp., and procured the local private buyer. The project was developed in 2000 and is set on 14 acres. The apartments were 94 percent occupied at the time of sale. JLL’s team was led by Jose Cruz, …

October 7, 2025

Affordable Housing Company News Operations

Avanath, BRIDGE Form Affordable Housing Property Management Company

by Lynn Peisner October 6, 2025

SAN FRANCISCO AND IRVINE, CALIF. — BRIDGE Housing and Avanath Communities have jointly formed an affordable and workforce housing property management company called Brighthaven Communities. Initially, Brighthaven will provide property management services to the two organizations’ combined portfolio of properties, which totals approximately 30,000 affordable homes across 15 states. The new company plans to extend its services beyond the partners’ own properties to include other nonprofit and for-profit owners of affordable and workforce housing communities. Brighthaven will be governed by a six-member board with equal representation from both organizations. Avanath …

October 6, 2025

Affordable Housing Colorado Investment Sales News Western

Jonathan Rose Cos. Buys Boulder Affordable Housing Community, Extends Rent Restrictions

by Lynn Peisner October 3, 2025

BOULDER — New York City-based investment firm Jonathan Rose Cos. has acquired San Juan del Centro Apartments in Boulder from Related Cos. for $56 million. Jeff Irish and Jordan Skyles from Berkadia Real Estate Advisors arranged the sale of the Section 8 and LIHTC property. Berkadia also provided an acquisition loan. Additionally, the capital stack included equity from the $660 million Rose Affordable Housing Preservation Fund VI. San Juan del Centro’s 150 units are reserved for families earning at or below 60 percent of area median income. Jonathan Rose Cos. …

October 3, 2025

Affordable Housing California Development Finance News Western

KeyBank Provides $25.9 Million Loan for Compton Affordable Housing Development

by Lynn Peisner October 2, 2025

COMPTON, CALIF. — KeyBank Community Development Lending and Investment has provided a $25.9 million loan to finance construction of an affordable housing development at 1434 W. Compton Blvd. in the metro Los Angeles city of Compton. The Coalition for Responsible Community Development (CRCD) has partnered with LandSpire Group to develop the 75-unit community. The project will be a three-story development consisting of studios and one- and two-bedroom units, all of which will be rent restricted at or below 50 percent of the area median income. Additional LIHTC equity and Freddie …

October 2, 2025

Affordable Housing Development Finance New York News Northeast

New York City Housing Authority Locks in $272.6 Million in Redevelopment Funds for Harlem Properties

by Lynn Peisner October 1, 2025

NEW YORK CITY — The New York City Housing Authority (NYCHA) has closed on the financing for a $272.6 million renovation of Metro North Plaza and Gaylord White Houses, two public housing communities in East Harlem. The properties were selected to be part of the Permanent Affordability Commitment Together (PACT) program, created by the City as part of a larger plan to modernize public housing. NYCHA needs more than $78 billion to fully restore and renovate all its buildings, but, according to the City’s website, the federal government has only …

October 1, 2025

California Investment Sales News Student Housing Western

Legacy Partners, PGIM Buy SoCal Student Housing for $92 Million, Plan Market-Rate Conversion

by Lynn Peisner September 30, 2025

AZUSA, CALIF. — Legacy Partners and PGIM have acquired University Village in Azusa, about 20 miles east of downtown Los Angeles, for $92 million. The 320-unit property sits directly across the street from Azusa Pacific University, which was the seller and had formerly been using the community as a residence hall for students. Mesa West Capital provided a $68.5 million loan to buy the property and finance the conversion of the asset from student housing into a traditional multifamily community, which will include a light value-add program. The new owners …

September 30, 2025

Affordable Housing Development Maryland News Northeast

Baltimore Unveils $6 Billion Housing Redevelopment Program to Restore Vacant Buildings

by Lynn Peisner September 29, 2025

BALTIMORE — Baltimore has launched a 15-year housing redevelopment program aiming to restore vacant buildings throughout the city. The plan is backed by $1.2 billion in public-fund commitments and an anticipated $5 billion in private financing. City leaders say the plan will revitalize more than 65,000 properties across Baltimore. The redeveloped homes will be a mix of rental and for-sale housing. The City of Baltimore has approved the plan and public funding, while the Greater Baltimore Committee (GBC), a nonprofit, private-sector business advocacy group, is helping to coordinate private sector …

September 29, 2025

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