Multifamily

David Leopold Berkadia Section 8 housing quote from article

Invest in Stability: Section 8 Housing Offers Strong Returns and Community Impact

by Sarah Daniels March 25, 2025

By David Leopold, SVP, Head of Affordable Housing, Berkadia In today’s shifting real estate landscape, investors increasingly prioritize stability and long-term value. One sector that has consistently demonstrated stability is affordable housing — particularly Section 8 properties backed by the U.S. Department of Housing and Urban Development (HUD). With guaranteed rental income and high demand, Section 8 housing has become an attractive investment vehicle for those looking to diversify their portfolios while contributing to the critical need for affordable housing. As part of this trend, in 2024 Berkadia financed $837 million and sold more than $172 million in Section 8 properties, including the sale and financing of Lauderhill Point, a Section 8 affordable housing community in Fort Lauderdale, Fla. This arrangement underpins the firm’s affordable housing expertise, employing production leaders with an average of 25 years in the sector. For investors exploring opportunities in affordable housing, success depends on understanding the unique benefits and requirements of Section 8 properties. Section 8 Housing as a Safe Haven The largest federal subsidized housing program in the United States, project-based Section 8 provides financial assistance to millions of households across the country, making it a steady source of demand that can give …

March 25, 2025

Affordable Housing California Development Multifamily Seniors Housing Western

USA Properties Fund, Pinyon Group Open $21M Affordable Age-Restricted Property in Carlsbad, California

by Amy Works March 24, 2025

CARLSBAD, CALIF. — Roseville, Calif.-based USA Properties Fund and Los Angeles-based The Pinyon Group have opened Vintage at Marja Acres, an affordable age-restricted community in Carlsbad. Located at 4660 Garden Hill Loop, Vintage at Marja Acres offers 47 apartments, a community room, wellness/health center and onsite laundry. The one-bedroom apartments feature energy-efficient appliances and light fixtures, and low-flow faucets, showers and toilets. The units are designated for residents at least 55 years old who earn 30 percent to 60 percent of the area median income for San Diego County, Calif. Vintage at Marja Acres is a public-private partnership that includes the City of Carlsbad, Riverside Charitable Corp. and WNC Inc. JPMorgan Chase is the construction and permanent lender for the $21 million project. IHP Capital Partners and KB Homes are also partners on the project, which is in infill community that is named after a former longtime nursery on the property.

March 24, 2025

Acquisitions Multifamily Washington Western

IPA Brokers Sale of 72-Unit Parkview Apartment Community in Olympia, Washington

by Amy Works March 24, 2025

OLYMPIA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Parkview, a multifamily property within the 137-acre Briggs Village master-planned community in Olympia. Amoroso Cos. sold the asset to Nearon Enterprises for an undisclosed price. Completed in 2012, Parkview offers 72 one-, two- and three-bedroom apartments with nine-foot ceilings, electric fireplaces and private decks or patios. Community amenities include onsite parking, bike storage, a fenced dog run and package lockers. Ryan Harmon, Philip Assouad, Giovanni Napoli, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal.

March 24, 2025

Development Georgia Multifamily Southeast

Woodfield Development Completes 280-Unit Apartment Community in Savannah

by John Nelson March 24, 2025

SAVANNAH, GA. — Charleston-based Woodfield Development has completed EmmaJames at Savannah Harbor, a 280-unit luxury apartment community located in the larger Savannah Harbor mixed-use development. The project team includes architectural firm Housing Studio, general contractor Samet Corp. and interior designer Cindy Munn of S. Wilkins. Situated at 101 Cay Plaza, the development offers a mix of one-, two- and three-bedroom floorplans ranging in size from 682 square feet to 1,732 square feet. Additionally, the complex also features one- and two-bedroom townhomes that measure up to 2,064 square feet. Monthly rental prices for the property begin at $1,555. Amenities at the property include a rooftop pool deck, 24/7 fitness center, yoga studio, piano room, pet park and spa, business and coworking spaces, self-serve tap lounge and an outdoor lawn with grilling and fire pit areas.

March 24, 2025

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

ARK Homes Delivers 237-Unit Build-to-Rent Community in Brunswick, Georgia

by John Nelson March 24, 2025

BRUNSWICK, GA. — ARK Homes For Rent has completed Walker Point, a 237-unit build-to-rent (BTR) residential community located at 1101 Walker Point Way in Brunswick, about 70 miles south of Savannah. Situated on 25 acres, the property features townhomes ranging up to 1,800 square feet that come in two-, three- and four-bedroom floorplans. Amenities include a clubhouse, fitness center, yoga room, swimming pool, outdoor lounge with grilling and dining areas and a dog park. Walker Point is now available for lease, with monthly rental rates beginning at $1,649. ARK Homes held a ribbon cutting on Friday, March 21.

March 24, 2025

Development Multifamily New York Northeast

Fetner Properties, Lions Group Begin Leasing 50-Story Apartment Building in Queens

by Taylor Williams March 24, 2025

NEW YORK CITY — A partnership between two locally based developers, Fetner Properties and Lions Group, has begun leasing The Italic, a 50-story apartment building located at 26-32 Jackson Ave. in the Long Island City area of Queens. Designed by SLCE Architects and built by Hunter Roberts Construction Group, the building houses 363 units in studio, one-, two- and three-bedroom units, with 109 residences designated as affordable housing. Amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and a rooftop terrace. The building also houses 20,000 square feet of commercial space. Rents start at approximately $3,800 per month for a studio. Construction topped out in December 2023.

March 24, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $12M Sale of Northern New Jersey Multifamily Portfolio

by Taylor Williams March 24, 2025

UNION AND ROSELLE PARK, N.J. — Local brokerage firm The Kislak Co. Inc. has negotiated the $12 million sale of a portfolio of two multifamily properties totaling 75 units in Northern New Jersey. Townley Garden Apartments is a 48-unit complex in Union that was built in 1943, and Knights Manor is a 27-unit building in Roselle Park that was completed in 1950. Jeff Squires of Kislak represented the buyer and seller in the transaction. Jared Sobel of Walker & Dunlop originated an undisclosed amount of Freddie Mac acquisition financing for the deal.

March 24, 2025

Alabama Market Reports Multifamily Southeast Southeast Market Reports

Limited Construction Starts Should Help Birmingham Absorb Available Apartments in 2025

by John Nelson March 24, 2025

Southeast Real Estate Business recently caught up with John McCrary, director of investment sales in Berkadia’s Birmingham office, to discuss trends in the local apartment market. McCrary, who specializes in investment sales in Alabama, east Tennessee and southern Mississippi, says that Birmingham’s occupancy will likely take a hit as new deliveries hit the market in the first half of the year, but there’s optimism that renters will be able to absorb those availabilities in short order. “With approximately 800 units expected to be delivered at the beginning of 2025, vacancy rates are likely to rise throughout the year,” says McCrary. “However, the slowdown in construction starts should help absorb existing units and eventually reduce the elevated vacancy rate.” The following is an edited interview: Southeast Real Estate Business: What major local or macro-economic trends are affecting the multifamily market in Birmingham? John McCrary: The interest rate environment is a key factor influencing multifamily dispositions, both in the Southeast and nationwide. Fluctuations in interest rates impact borrowing costs for developers and investors, thereby affecting the supply and demand for multifamily properties. Over the past year, Birmingham has seen strong multifamily demand, but it hasn’t kept pace with the influx of new …

March 24, 2025

Acquisitions Multifamily Texas

RangeWater, CenterSquare Buy 352-Unit Apartment Community in Frisco

by Taylor Williams March 21, 2025

FRISCO, TEXAS — A partnership between Atlanta-based RangeWater Real Estate and metro Philadelphia-based CenterSquare Investment Management has purchased Sorrel Phillips Creek Ranch, a 352-unit apartment community in Frisco. Built in 2015, the property offers one-, two- and three-bedroom units that range in size from 776 to 1,476 square feet. Amenities include a pool, clubhouse, bark park, media center and a fitness center. The new ownership plans to make capital improvements to unit interiors and building exteriors. The seller and sales price were not disclosed.

March 21, 2025

Affordable Housing Development Seniors Housing Southeast Virginia

True Ground Housing Breaks Ground on $64M Affordable Seniors Housing Community in Metro DC

by John Nelson March 21, 2025

CHANTILLY, VA. — True Ground Housing Partners has broken ground on a $64 million affordable seniors housing community in Chantilly, roughly 30 miles outside Washington, D.C. Dubbed Avonlea Senior, the development will be situated within the Avonlea Town Center master-planned community developed by Peterson Cos. The project team includes general contractor Bozzuto Construction, Advanced Project Management (APM), Grimm + Parker Architects, Moya Design Partners, Allen + Shariff Corp. and civil engineer Urban Ltd. Upon completion, the community will comprise 137 units for residents age 55 and older. The property will also feature a wellness suite, business center and two community rooms. Completion of the project is slated for summer 2026. Financing for the development includes low-income housing tax credits (LIHTC) from Virginia Housing; more than $6 million from Loudoun County’s affordable multifamily housing loan program; $7.5 million from Amazon REACH; $1.4 million in Virginia Housing Trust Fund financing; and $4 million from Virginia’s Housing Innovations in Energy Efficiency (HIEE) program. Additionally, Truist has purchased approximately $29 million in tax credit equity. Formerly Arlington Partnership for Affordable Housing, True Ground Housing Partners is a nonprofit affordable housing developer.

March 21, 2025

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