AVE, the residential brand of Philadelphia-based Korman Communities, in partnership with Ensemble Investments and Mosaic Development Partners, officially opened AVE Navy Yard.
AVE Navy Yard anchors Philadelphia’s first new neighborhood in a generation, delivering 614 contemporary apartments across two complementary communities – Normandy and Constitution – along with 75,000 square feet of on demand wellness, business and leisure amenities and 25,000 square feet of restaurant and boutique retail space. The Navy Yard neighborhood offers extensive green space, waterfront views, and easy access to Center City, Philadelphia International Airport, and the Philadelphia Sports Complex.
“The opening of AVE Navy Yard represents a major milestone in the transformation of the Navy Yard into Philadelphia’s newest neighborhood,” said Brian Cohen, Managing Director, Ensemble Investments. “Now, with the arrival of its first residential community, we’re creating a true live-work-play environment where residents can live steps from innovative companies, waterfront parks, and new retail and dining.”
ARCTRUST Private Capital and Edison Equity Residential broke ground on Serenova at Dripping Springs, a 175-residence, 55+ age-restricted community in Dripping Springs, Texas. The groundbreaking follows the August closing of the project’s construction loan, provided by North River Partners. This project follows the duo’s effort on Serenova at Woodforest, which broke ground in October 2025. Located adjacent to...
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An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
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NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
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