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Skyview-at-Aria-Monroe
DevelopmentFinanceNewsNorth CarolinaSoutheast

Aria Communities Secures $53.5M in Financing for Metro Charlotte Development

by Lynn Peisner

MONROE, N.C. — JLL Capital Markets has arranged $53.5 million in debt and equity for the construction of Skyview at Aria, a 338-unit development in Monroe, 27 miles southeast of Charlotte. South Carolina-based Aria Communities is the developer/borrower. The $42.7 million loan was secured through United Bank Inc. Parse Capital provided the preferred equity. Completion of the project, located on 22 acres at 3613 W. Highway 74, is slated for 2027 and will include a mix of one-, two- and three-bedroom units. Amenities will include a center courtyard with a …

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Apex-at-Twin-Creek-Bellevue
Investment SalesMidwestNebraskaNews

Northmarq Arranges $44.2M Sale of Apex at Twin Creek in Nebraska

by Lynn Peisner

BELLEVUE, NEB. — Northmarq has arranged the $44.2 million sale of Apex at Twin Creek, a 240-unit garden-style community at 4002 Raynor Parkway in Bellevue, 10 miles south of Omaha. The property is also five miles west of Offutt Air Force Base. Northmarq represented the New York-based seller, Briar Capital Management. The buyer was Clipper Capital Group. Northmarq’s Newport Beach debt and equity team led by Joe Giordani, Brendan Golding and Scott Botsford, arranged $28.7 million in acquisition financing on behalf of Clipper through Freddie Mac. Apex at Twin Creek …

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The-Arboretum-Farmingville
Investment SalesNew YorkNewsNortheast

Inland Acquires Long Island Property for $190M

by Lynn Peisner

FARMINGVILLE, N.Y. — Inland Real Estate Acquisitions, an affiliate of Inland Real Estate Group of Cos., has acquired The Arboretum for $190 million from BRP Cos. Located at 20 Maple Lane in Farmingville, The Arboretum sits on 62 acres. The 292-unit community was developed in 2024 and offers a mix of single-family homes, townhomes and garden-style apartments in two- and three-bedroom floor plans. Amenities include an outdoor heated pool with cabanas, a fitness center with yoga studios, tennis and bocce courts, a putting green, a playground and a 7-acre park …

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Ashton-Oaks-Tampa
Build-to-RentDevelopmentFloridaNewsSoutheast

Crescent Communities, Heitman Break Ground on BTR Project in North Tampa Bay

by Lynn Peisner

TAMPA, FLA. — Crescent Communities has broken ground on HARMON Ashton Oaks in Tampa, marking the sixth and final collaboration of the first round of joint-venture developments with Heitman. The 115-unit townhome community is in the Wesley Chapel neighborhood of the Tampa metro region. Set across 28 acres at the intersection of State Road 54 and Ashton Oaks Boulevard, HARMON Ashton Oaks will be complete later this year. The community consists of three- and four-bedroom, two-story townhomes averaging approximately 1,800 square feet. Amenities include a resort-style pool with cabanas and …

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Parkway-Townhomes-Henderson
Affordable HousingInvestment SalesNewsNortheastSoutheastTexasWestern

TruAmerica Closes $708M Workforce Housing Fund

by Lynn Peisner

LOS ANGELES — TruAmerica Multifamily has raised $708 million from investors that is being used to acquire $2 billion worth of workforce housing. Approximately $320 million has already been invested via the acquisition of 14 properties in nine cities. TruAmerica Workforce Housing Fund II will be used to buy Class B communities near major central business districts in markets that demonstrate supply-demand imbalances and limited inventory of attainable rental housing, according to the company. Target markets are located in the Southeast, Northeast, West Coast, Mountain West and throughout the Sun …

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Northpoint-on-Jarvis-Creek-Hilton-Head
Affordable HousingDevelopmentNewsSouth CarolinaSoutheast

CF Evans Construction Breaks Ground on Hilton Head Workforce Project

by Lynn Peisner

HILTON HEAD, S.C. — CF Evans Construction has broken ground on Northpoint on Jarvis Creek, a 157-unit workforce housing project on Hilton Head Island. The Town of Hilton Head Island, OneStreet Residential and Royal Bank of Canada Community Investments (RBC-CI) are leading the public-private development team. Under the terms of the partnership, the Town provides: a 65-year ground lease; $1 million to support eligible site work with contributions secured from the American Rescue Plan Fund; affordability covenants to maintain a workforce neighborhood in perpetuity; zoning entitlements; and long-term programming support. …

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The-Quaye-Palm-Beach-Gardens
FinanceFloridaInvestment SalesNewsSoutheast

Dermot Co. Obtains $110M Loan for Palm Beach Property

by Lynn Peisner

PALM BEACH GARDENS, FLA. — The Dermot Co., in partnership with Dutch pension fund provider PGGM and TD Asset Management (TDAM), has acquired The Quaye, a 341-unit community in Palm Beach Gardens. Affinius Capital originated a $110 million loan to support the acquisition. Walker & Dunlop’s South Florida Investment Sales team, led by Still Hunter, arranged the sale, while Walker & Dunlop’s Aaron Appel, Dustin Stolly and Michael Ianno arranged the financing. The community is comprised of one-, two-, three- and four-bedroom apartments and townhomes. It is situated on a …

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AnitaCoy-Austin
Affordable HousingDevelopmentNewsTexas

The NRP Group Breaks Ground on Anita Ferrales Coy Redevelopment in Austin

by Lynn Peisner

AUSTIN, TEXAS — The NRP Group, in partnership with Austin Independent School District (AISD), has broken ground on Phase I of the Anita Ferrales Coy school-to-housing redevelopment in East Austin. A school operated on the 18 acres at 4812 Gonzales St. from 1916 to approximately 2018, after which time the property was used as an alternative learning center. AISD selected The NRP Group as a redevelopment partner in 2023, and last year, AISD was relocated to prepare for redevelopment. The first phase includes 341 units, while the second phase, estimated …

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Tributary-Raleigh
DevelopmentNewsNorth CarolinaSoutheast

Kane Realty Breaks Ground on Tributary Apartments in Raleigh, Announces 28-Acre Expansion and Next Phase of North Hills Innovation District

by Lynn Peisner

RALEIGH, N.C. — Locally based Kane Realty Corp. (KRC) has broken ground on Tributary, a 332-unit community within the North Hills Innovation District (NHID) in Raleigh. Tributary, designed by the Washington, D.C.-based architectural firm of Hickok Cole, will include 6,000 square feet of ground-floor retail, two courtyards, a digital content creation studio and a wellness center. The general contractor is John Moriarty & Associates. Completion is slated for spring 2028. NHID is a walkable, mixed-use destination situated around a tributary of Big Branch Creek and preserved wetlands. KRC also announced …

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Westpark-Philadelphia
Affordable HousingDevelopmentNewsNortheastPennsylvania

Public-Private Partners Begin $500M Philadelphia Public Housing Redevelopment

by Lynn Peisner

PHILADELPHIA — The Philadelphia Housing Authority (PHA) and partners LMXD and MSquared broke ground March 2 on the first phase of the Westpark Apartments redevelopment in West Philadelphia. The multi-phase project as a whole covers 12 acres and will consist of upgrading existing structures as well as building new apartments. The site is home to public-housing high-rises and was developed in the early 1960s. The project cost for Phase I, accounting for 327 new units, is approximately $205 million, according to the Philadelphia Tribune. WHYY reports the total project cost …

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