JPI Helming Bond-Funded Denton Housing Deal
JPI announced the recent groundbreaking of Jefferson Bonnie Brae, a 461-unit workforce housing community located at N Bonnie Brae St & Bronco Wy, Denton (photo). The $132 million project marks the second-ever bond-funded deal completed in Texas’ history, setting a precedent for innovative financing structures that increase housing supply for essential workers like teachers, nurses and public employees.
Owned by the Denton Housing Authority and funded entirely through tax-exempt municipal bonds arranged by Berkadia, Bonnie Brae delivers long-term affordability while projecting approximately $35 million in equity back to DHA over 10 years. A single-asset LLC structure shields DHA from risk, while JPI oversees development, construction and asset management.
Tim Leonhard of Berkadia Affordable Housing secured the construction financing through the newly launched Berkadia Private Placement Program, a single-source capital solution for construction-to-permanent financing for affordable housing communities that utilizes tax-exempt bonds.
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Synergy Hosts Official Opening for Massachusetts’ Largest Office-to-Resi Conversion
Synergy held the official opening of Altitude Worcester, the largest office-to-residential conversion in Massachusetts, with a ribbon cutting ceremony with Juana Matias, the Secretary of the Massachusetts Executive Office of Housing and Livable Communities , and the City of Worcester. The event also marked the completion of 22 Elm St., the adjacent affordable homeownership community Synergy...
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MBTA Issues RFQ for Redevelopment of Lynn Commuter Parking Garage
The Massachusetts Bay Transportation Authority (MBTA) has issued a request for qualifications from would-be redevelopers of its downtown Lynn, MA commuter parking garage. It’s the first of a two-step process, to be followed by a request for proposals. The five-story garage opened in 1992 and has been partially closed since 2022 over safety concerns, ItemLive...
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Kidder Mathews Arranges Sale of 45-Unit Multifamily in Walla Walla
Suncrest Apartments, a 45-unit multifamily community located at 1800 Evergreen Street in Walla Walla, Washington, has sold for $4.3 million. Kidder Mathews Vice President Max Frame of the Simon | Anderson Multifamily Team in Seattle represented the seller, Art Griff, in the transaction. The buyer was Jason Zook. Situated on 1.72 acres, Suncrest Apartments consists...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout