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Latest Atlanta & Southeast Apartments Stories
Newton, MA-based Northland has acquired The Maven, a fully leased 276-unit, garden-style community in Suwanee, GA about 30 miles from downtown Atlanta. Since entering GA in 2020, Northland has invested $520 million to acquire 1,300 apartments and $250 million in land for future development, including the acquisitions of of SLX Atlanta and a Midtown development …
Atlanta-based Cortland has acquired four properties in Arlington, VA totaling more than 1,500 units. According to the company, the acquisitions are a $1 billion investment that marks its re-entry into the DC area market and confidence in the return to the urban core. “Northern VA is a highly coveted location that is already seeing a …
Latest Boston & New England Apartments Stories
Newton, MA-based Northland has acquired The Maven, a fully leased 276-unit, garden-style community in Suwanee, GA about 30 miles from downtown Atlanta. Since entering GA in 2020, Northland has invested $520 million to acquire 1,300 apartments and $250 million in land for future development, including the acquisitions of of SLX Atlanta and a Midtown development …
Boston-based Berkshire Residential Investments has secured $135 million of first mortgage debt for the acquisition of The Sophia at Abacoa, a 390-unit multifamily community in Jupiter, FL, from Mesa West Capital. The financing was arranged by Matt Williams and James Maynard at Newmark. Mesa West Capital was represented in the transaction by the legal team …
Latest California Apartments Stories
Marcus & Millichap Capital Corporation (MMCC) arranged $64.39 million in financing for a 252,100- square-foot multifamily property at 127 W. Pomona in Monrovia. The financing was secured by executive managing director Sharone Sabar and associate director Stefen Chraghchian, both based in MMCC’s Encino office. The 42-month loan has an LTC of 65% and an interest …
A four-building, 36-unit multifamily portfolio in Brentwood has been sold by original ownership for $17.165 million. The buyer is a local real estate investor and developer, who acquired the portfolio ff-market in a 1031 exchange. Kidder Mathews’ Michael Monempour represented both parties. The buildings were constructed in the 1960s and have remained under original family …
Latest Chicago & Midwest Apartments Stories
Chicago-based Waterton, a national real estate investor and operator, and Almanac Realty Investors, the private real estate investment arm of Neuberger Berman, have reached an agreement with a fund managed by Almanac to acquire a passive, minority ownership stake in Waterton. The strategic investment will provide additional resources to Waterton while having no impact on …
Mayor Lori Lightfoot and Ald. Carlos Ramirez-Rosa on Friday joined Bickerdike Redevelopment Corporation and other city and community leaders for the grand opening of Emmett Street Apartments in the Logan Square community. The seven-story new construction transit-oriented development will provide 100 affordable one- to three-bedroom units withing walking distance of the Logan Square Blue line station on the city’s northwest side. …
Latest Florida & Gulf Coast Apartments Stories
CBRE has secured $50.3 million in acquisition financing for two multifamily properties, HITE and Notch, both located in Tampa, FL’s historic Seminole Heights neighborhood. The portfolio sold for $60.5 million. Eric Fixler and Chandler Kaye with CBRE worked on behalf of the borrower, a private investor. Ready Capital provided the senior loan with additional proceeds …
Barrington Brothers has commenced construction of The Kavista, a $60-million multifamily development in the Village of El Portal, FL in Miami-Dade County. JLL arranged construction financing from Trez Capital. The Kavista will be an eight-story building on NE 83rd Street between Miami Shores and Little River. It will offer 282 one-, two-, and three-bedroom apartments …
Latest Global Apartments Stories
Despite the worldwide geopolitical and economic uncertainty, global commercial real estate investment seemed undaunted, growing by 34% year over year in Q1 2022 to US$282 billion. According to a CBRE report, investment increased by 47% in the Americas, 25% in Europe, the Middle East and Africa (EMEA) and 5% in the Asia-Pacific region. Multifamily investments …
CBRE was the top-ranked firm for commercial real estate investment sales globally for the 11th consecutive year in 2021, according to Real Capital Analytics (RCA). RCA credited CBRE with a 24% market share across all property types on a global basis in 2021—nearly double the number two and three firms combined. In addition to being …
Latest National Apartments Stories
Yardi Matrix recently reported that year-over-year rent growth and apartment occupancy were both on the rise during April 2022. According to Newmark’s “1Q22 United States Multifamily Capital Markets Report,” investor demand for the product also increased. Sales volume was $63.0 billion, signifying the largest Q1 on record for the product type. One reason for the …
Blackstone Real Estate Income Trust, Inc. (BREIT) has completed its previously announced acquisition of Resource REIT, Inc. for $14.75 per share in an all-cash transaction valued at $3.7 billion, including the assumption of the REIT’s debt. BREIT’s deal for the non-traded multifamily REIT was announced in January. The deal covers Resource REIT’s portfolio of multifamily, …
Latest New York & Tri-State Apartments Stories
Ariel Property Advisors has arranged the sale of three properties totaling $12.9 million located in Brooklyn and Northern Manhattan. The largest of the three transactions was the $5.05-million sale of a vacant two-story commercial building at 222-226 W. 145th St. In Manhattan. The transaction was brokered by an Ariel team including director Jason M. Gold, founding partner Michael …
Brookfield Properties, in joint partnership with Park Tower Group, held the grand opening and launched resident move-ins at The Bellslip, a 414-unit mixed-income residential tower on the Greenpoint waterfront. The Bellslip is the third of four residential projects the developers are partnering on within the larger 22-acre Greenpoint Landing master planned development. In addition, the …
Latest Phoenix & Southwest Apartments Stories
KB Investment Development was the buyer of the 280-unit project, known as the Green Leaf Arts District. The 2017-completed project sits in proximity to historic Phoenix neighborhoods adjacent to the metro Light Rail system. Units average 860-square feet and include a number of the most popular amenities. It’s near a number of art galleries and …
The 18-unit, Farmer Avenue Lofts townhome property was acquired by Blueprint Capital. Built in 2008, the buyers paid $728,000 per unit. Located at 354 Farmer Avenue, the property is near the Loop 202 Freeway, Mill Avenue Entertainment District, Arizona State University (ASU) and Sky Harbor Airport. The units average 2,500 square feet and have granite …
Latest Seattle & Northwest Apartments Stories
A luxury mixed-use apartment building nearby downtown Seattle has sold in a transaction structured by Kidder Mathews. The 130-unit mixed-use apartment complex, MUIR Apartments, traded for $54.5 million to Denver-based EverWest Real Estate Investors. Dylan Simon, Winslow Lee and Jerrid Anderson of the Simon and Anderson Team, a multifamily investment sales team based in Kidder …
Harbor Custom Development has announced the closing of three undeveloped land tracts in its Horizon at Semiahmoo subdivision in Blaine, WA to Noffke Landholdings, Inc. for $5.4 million. The parcels total just over 15 acres, and the future multifamily homes will feature two-story triplexes and fourplexes with views of Birch Bay and the Cascade Mountains. …
Latest Texas Apartments Stories
The Multifamily Group (TMG) is no stranger to Killeen Texas. TMG represented the seller of The Springs at 1100, a 232-unit garden-style property. It’s the groups second closing this year, with two pending and 18th since 2017. Built in 1983, the property was 98% occupied at the time of the sale in a submarket with …
This latest project is one of many slated for the town about 40 minutes north of Dallas. Besides the Mill Creek project, about 1,300 multifamily units are under construction within five miles from downtown Celina. Mill Creek will offer a combination of cottages, townhomes and single-family units to rent on 40 acres. They’ll be adding …
Latest Washington DC Apartments Stories
Cushman & Wakefield has arranged the $18.5-million sale of the Townhomes of Oakley, a 160-unit multifamily property located on Needham Court in the Richmond submarket of Henrico, VA. Jorge Rosa and TJ Liberto with Cushman & Wakefield represented the owner, Thalhimer Realty Partners, in the transaction. The property was acquired by Walde Management, LLC. “This …
Atlanta-based Cortland has acquired four properties in Arlington, VA totaling more than 1,500 units. According to the company, the acquisitions are a $1 billion investment that marks its re-entry into the DC area market and confidence in the return to the urban core. “Northern VA is a highly coveted location that is already seeing a …