Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $31 million sale of Woodbrook, a 100-unit apartment property in Everett, WA. The firm’s Philip Assouad, Giovanni Napoli, Ryan Harmon and Nicholas Ruggiero arranged the transaction on behalf of the seller. The buyer was Amoroso Companies. “Located in one of the top …
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Multifamily property management firm Avenue5 has promoted Stephanie Stacy as senior vice president of its Western Washington operations portfolio. In her new role, Stacy will support a team of leadership experts managing more than 13,000 units in over 80 new construction, lease-up, stabilized and mixed-use assets throughout Seattle and Tacoma. “Stephanie’s contributions to Avenue5 have …
Mortgage banking company Bellwether Enterprise Real Estate Capital, LLC has closed a $100 million construction/perm loan to finance Cloud House, a Class A multifamily development in Stanton, CA. The 4.5% fixed rate loan terms include a 3-year construction period and a 10-year permanent loan with interest-only payments for the first 5 years. BWE’s Tom Kenny …
Cushman & Wakefield, representing the Casey Brown Company, has secured a new tenant at a creative office redevelopment in the Mission Valley area of San Diego. Architecture firm Harley Ellis Devereaux Corp. (HED), has signed a 10,500-square-foot lease at the former San Diego Union-Tribune campus now called AMP&RSAND. “HED is excited about the opportunity to …
Northmarq’s San Francisco office has secured the $46 million refinance of a three-property multifamily portfolio in Pleasanton, CA. The firm arranged the 10-year fixed rate loans with full interest-only terms on behalf of E&S Ring through its Fannie Mae DUS program. The garden-style portfolio consists of three properties: Pleasanton Glen, Pleasanton Heights and Pleasanton Place …
Daum Commercial Real Estate Services has completed the lease of a 69,000-square-foot industrial distribution building in Oxnard, CA on behalf of the lessor E&E Trust. Robert Mann Packaging, represented by JLL’s Bart Reinhard, will be the new tenant after signing a 5-year lease at the newly constructed property. “Our client was seeking to leverage the …
CBRE has announced the sale of Metro 3610, a 304-unit, value-add multifamily community in Riverside, CA. Silver Star Real Estate purchased the property for an undisclosed price. The complex was built in 1984 and has a bevy of major retailers located nearby. Metro 3610 has two swimming pools with a spa, tennis courts, clubhouse, fitness …
Guthrie Development Company has acquired a 13,000-square-foot multi-tenant industrial building in Fountain Valley, CA for $4.3 million. CBRE’s Nick Spatafore represented both buyer and seller in the transaction. The property, located at 17330 Newhope St., features seven units ranging from 1,500 to 3,500 square feet and is 80% leased. Guthrie plans to implement a series …
The DART stations, all located south of Interstate 30, with the exception of Royal Lane station in northwest Dallas, include adjacent parking areas that have been deemed underutilized by the city. The city entered into a memorandum of understanding with the Dallas Area Rapid Transit in November that allows the parcels to be marketed for …
Berkadia has arranged the $45-million recapitalization of Residences at Lakeview, an 827-unit apartment community in Memphis, TN. Mitch Sinberg, Brad Williamson, Matthew Robbins and Scott Wadler and Mike Basinski of Berkadia secured the financing on behalf of the ownership, Atlas Real Estate Partners and West End Capital Group. Fannie Mae provided the 10-year, fixed-rate loan …
Atlanta-based Halpern Enterprises, Inc., has elevated Matthew Oppenheimer from director of acquisitions to company president. He will be responsible for enhancing the value of the company’s existing portfolio, achieving growth goals through acquisitions and new development and maintaining a strong financial and organizational foundation. Matthew is a member of Halpern’s third generation of family employees. …
JLL Charlotte has introduced a new business line dedicated to sustainability and ESG. Two new hires, John Thigpen as vice president and Meghan Wirtner as project manager, form a team that falls under the office’s existing project and development services division. Thigpen will lead the sustainability team in the Carolinas region and will focus on …
Boston, MA-based WinnCompanies has awarded $72,000 in scholarships to 60 residents of apartment communities managed by WinnResidential and 10 children or dependents of the company’s team members. The WinningEdge scholarships will support the recipients’ postsecondary education at colleges, universities or professional trade schools. “The WinningEdge Scholarship is one way we reaffirm our commitment to improving …
Middleton, MA-based The Procopio Companies has hired Neil Geary to the role of CFO. Geary is the firm’s first CFO in its 70-plus year history. Geary will be responsible for all financial activity of firm and oversight of the Procopio’s, which has seen its concurrent annual development volume grow from $3.27 million in 2010 to …
A joint venture between Related Group and BH Group have closed on the $51-million acquisition of a 4.5-acre parcel in the Miami, FL submarket of Aventura. The site is home to the 107,000-square-foot Aventura View office building, which the buyers intend renovate and upgrade as well as replace the existing surface parking with a mixed-use …
BakerHostetler has added Ormend Yeilding to its Orlando office as a partner in the firm’s business practice group and real estate team. Yeilding will also be a member of the company’s hospitality industry team. Yeilding advises developers, institutional investors and private equity groups on the acquisition, financing and restructuring, and disposition of resorts, hotels and …
Turnbridge Equities and joint venture partner Fundamental Advisors LP have sold their five-building, 860,000-square-foot Northern Virginia Cybersecurity and Defense Infrastructure Portfolio for $220 million. Eric Berkman, Shaun Weinberg and Kevin Sidney of Cushman & Wakefield represented Turnbridge and Fundamental on the sale of the portfolio. The five mission-critical office properties include: 460 Herndon Parkway, Herndon, …
Baltimore, MD-based Continental Realty Corporation has selected Elisabeth Mygatt as director of multifamily asset management. She was formerly director of asset management, multifamily for Johnson Development Associates, Inc. In her new role, Mygatt will oversee all multifamily asset management functions, including the review of new acquisitions, onboarding of new assets, operational and budgeting oversight, valuations, …
Developer VISTA Property and its general contractor, Skender, broke ground Wednesday on 741 N Wells Street, a new mixed-use multifamily rental building in Chicago’s River North neighborhood. Designed by Antunovich Associates, the 21-story, 201,000-square-foot development will include 168 apartment units and communal tenant amenities. Located at the corner of Chicago Avenue and Wells Street, 741 …
Equity Distribution Acquisition Corp. (EDAC), a special purpose acquisition company backed by Sam Zell’s Equity Group Investments, said it intends to dissolve and liquidate following the provisions of its amended and restated certificate of incorporation. The company, chaired by Zell, did not find an opportunity within the period required by its certificate of incorporation …
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