NEWPORT NEWS, VA – The DF Multifamily division of Drucker + Falk, a performance driven real estate service and investment firm among the most respected property management and commercial real estate companies in the country, recently opened AXIS at PTC apartments in Hampton, Virginia. The newest urban lifestyle community in Peninsula Town Center, AXIS at PTC, is an open air mixed-use development in Peninsula Town Center, where you can shop, dine, live, work, and play, featuring a mix of department and specialty retailers and restaurants, as well as commercial office and residential space.
The town center area also has several landscaped parks, plazas and squares and 4,402 parking spaces in surface and structured lots as well as on-street. Axis at PTC is within walking distance to favorites like Target and the Hampton Coliseum, and is a modern, conveniently located community focused on providing residents with a one-of-a-kind lifestyle and has already seen outstanding occupancy numbers. Leading the Peninsula multifamily market in rent per square footage, AXIS at PTC is more than 50% leased in just three months and has already begun receiving rave 5-star reviews from its residents.
With a sleek, stylish aesthetic and luxurious interior finishes, Axis at PTC provides the ultimate in modern amenities: walk-in showers; stainless steel appliances; a covered parking garage; storage units; granite countertops; custom cabinetry; sophisticated tile backsplashes; vinyl plank flooring; reset lighting; floor to ceiling windows; and a 24/7 fitness and wellness center with state-of-the-art Matrix cardio and weight training equipment and more than 200 virtual on-demand classes. With a rooftop party deck that provides stunning views of the city, contemporary pocket courtyards, a club room with a catering kitchen, and resident social events, Axis at PTC, in just a few small months, has proven itself to be the perfect space for entertaining friends and loved ones. With the goal of making the work-life balance a small more seamless for residents, especially in the era of working remotely, there is speedy Wi-fi; a trusted package receiving system; professional on-site management by Drucker + Falk; convenient online resident payment system and online service request forms; and more.
The apartment homes at Axis at PTC are chic, modern, and surrounded by the upbeat energy of Peninsula Town Center, providing residents with a huge city vibe at an affordable price. The luxurious apartments are within walking distance to restaurants and bars (Avenue Blue Piano and Wine Bar, Chipotle, FirstWatch Daytime Cafe, The Greene Turtle, Park Lane Tavern, Smashburger, etc); nails salons, book stores, shopping, beauty stores, and much more.
Deidre Brown, DF Director of Multifamily Management, says, We are thrilled about the success Axis at PTC has seen in such a small amount of time. With studio, one, two, and three-bedroom apartments, the 162-unit Axis at PTC has some of the most modern and elegant interior features and provides that city feel that only being in a bustling spot like Peninsula Town Center can achieve. All of us at Drucker + Falk are dedicated to the management of this community and the growth of such a top-notch area.
Zaf Tabani of the Dallas-based Tabani Group says, Our plot to bring renewed energy to Peninsula Town Center is well under way and the sky is truly the limit when it comes to apartment communities and other places of interest. The relationship we have developed with Drucker + Falk is a strong one and we are grateful to have their talent and expertise when it comes to the area s multifamily management.

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BETHESDA, MD – Walker & Dunlop, Inc. announced that it structured $87,429,870 in Fannie Mae financing on behalf of The PRC Group, a repeat client and mission-driven regional real estate owner and developer headquartered in Red Bank, New Jersey.
The portfolio includes Brighton Arms Apartments, located in Neptune City, New Jersey, Grandville Towers, located in Red Bank, New Jersey, and Tree Haven Apartments, located in Matawan, New Jersey. The portfolio comprises 792 units in total, over 85 percent of which qualify as mission-driven, affordable housing under Federal Housing Finance Agency (FHFA) guidelines.
Walker & Dunlop has arranged over $125 million in financing for The PRC Group throughout 2020. The three-property portfolio represented the borrower’s first agency execution. Capital Markets Managing Directors, John Banas and Kris Wood, as well as Analysts John Wilson and Rhett Saltiel, structured the financing to provide the borrower flexibility, with four years of interest-only payments and an attractive fixed rate for each of the 12-year loan’s terms. The team provided support to the client throughout the deal process, effectively advising the client in their first Fannie Mae transaction.
“John Banas and his team are a class act,” commented Stanley J. Koreyva, President and COO of The PRC Group. “They were on top of all the information we needed to supply, and their response time to us for any questions we had was outstanding. They are right experts in handling this type of transaction.”
Said Mr. Banas, “It was an honor to be selected by Bob Kaye, Stan Koreyva, and the team at PRC for this transaction, which helps preserve 710 units of workforce housing throughout New Jersey. Thanks to our experienced team and strong partnership with Fannie Mae, we were able to successfully do the transaction under the challenging circumstances presented by the global pandemic.”
Each of the three properties is well-located near New Jersey’s Sandy Hook Bay and situated within a few miles of the coast. Located near Route 35, the portfolio offers residents quick access to Trenton and New Brunswick employment centers and are outfitted with community amenities such as swimming pools, playgrounds, clubhouses, and on-site property management. The client plans to utilize the cash-out proceeds to perform capital improvements and renovations to the buildings.

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DAVIS, CA – The University of California, Davis (UC Davis) opened the first phase of The Green at West Village student housing project, adding more than 1,000 beds to the University’s West Village neighborhood. Once the entire project is complete, the housing complex will add nearly 3,300 beds to the campus, making it the largest student housing development currently under construction in the US. Students officially went into Phase I on Sept. 15.
The full $575 million in project costs will come from the proceeds of a tax-exempt bond sale, the largest bond sale ever in the US for a student housing project. The Michaels Organization, a national leader in residential real estate, is working with global design, architecture, and engineering firm Stantec, which is providing lead architectural, interiors, buildings engineering, and landscape architecture services for the project. CBG Building Company is the general contractor.
Once completed, the project will be comprised of nine four-tale apartment buildings along with indoor and outdoor community space and recreational fields across 34 acres. A 10,000-square-foot community building will house a fitness center, multipurpose room, and support services. With its expansive solar electric arrays, The Green contributes to the overall neighborhood goal of zero net energy, which means the project is designed to generate as much energy as it uses within a year.
During Phase I, the team delivered the first three residential buildings, a utility building (including workspace for operations and maintenance staff), as well as outdoor courtyards between the residential buildings for students to gather. Each apartment building includes furnished bedroom and living spaces, full kitchen and common space, as well as social and study areas on each floor.
“This student housing community demonstrates what is possible when the public and private sectors form partnerships, leveraging the strengths of both,” said Joe Coyle, president of Michaels Student Living. “We are thankful for the leadership of our University partners and honored to deliver this affordable, sustainable living environment for the students of UC Davis.”
“We’re excited to hit this critical milestone — on schedule,” said Richey Madison, Stantec principal, West Coast Education. “This year has presented unprecedented obstacles with the ongoing impacts of the pandemic, and to see the first wave of students go into The Green is humbling for our entire public-private partnership team. This is a truly transformative project for the UC Davis student body, and one we are proud to help deliver.”
The apartment community will be operated by Michaels Student Living Management. Collegiate Housing Foundation will hold the ground lease with the University of California. UC Davis Student Housing and Dining Services will be responsible for marketing, leasing, and on-site residence life support services.

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