Multifamily

MERIDIAN ARRANGES $40M LOAN FOR LUXURY MULTIFAMILY COMPLEX

by admin January 22, 2014

CINNAMINSON, N.J. — Meridian Capital Group LLC has arranged $40 million in permanent financing for Camelot at Cinnaminson Harbour, a luxury multifamily complex in Cinnaminson. The five-year loan features a fixed interest rate of 3.64 percent and a 30-year amortization schedule. Camelot is a recently constructed 405-unit, waterfront multifamily complex. The property is part of the master-planned community Villages at Cinnaminson Harbour, located about 12 miles northeast of Philadelphia. Amenities at the community include an outdoor pool, fitness center and business center, as well as access to hiking trails along the Delaware River. Josh Munk, a vice president at Meridian Capital Group, arranged the loan.

January 22, 2014

M&M ARRANGES $2.3M SALE OF 11-UNIT APARTMENT BUILDING

by admin January 22, 2014

NEW YORK CITY — Marcus & Millichap has arranged the sale of 281 Clifton Place, an 11-unit apartment property in Brooklyn for $2.3 million, or $208 per square foot. Shaun Riney and Dan Greenblatt from Marcus & Millichap’s Brooklyn office marketed the property on behalf of the seller, an individual/personal trust. Riney and Greenblatt also represented the buyer, a private investor, in the transaction.

January 22, 2014

Multifamily Texas

WORTHING COMPANIES TO DEVELOP 342-UNIT MULTIFAMILY COMPLEX IN HOUSTON

by admin January 22, 2014

HOUSTON — The Worthing Companies will develop The Heights at Park Row, a 342-unit multifamily property, in Houston. The property will be located within Central Park, a 78-acre mixed-use development of Wolff Cos. on the north side of Interstate 10 in the Energy Corridor submarket. Jeff Peden of Cushman & Wakefield represented Atlanta-based Worthing in the negotiations. Parker Associates is serving as design architect on the project, which is slated to open late this year.

January 22, 2014

Multifamily Western

KILROY TO BUILD THE RESIDENCES AT COLUMBIA SQUARE IN HOLLYWOOD

by admin January 22, 2014

LOS ANGELES — Kilroy Realty Corporation has announced its plans to develop The Residences at Columbia Square, a luxury residential tower in Hollywood. The 20-story tower will be located inside Columbia Square, a $385-million, mixed-use creative office, residential and retail development. The 675,000-square-foot Columbia Square is being developed on the site of the historic CBS broadcast facility on Sunset Boulevard. The Residences will include a mix of long-term rental and furnished extended-stay apartment homes. It will be the first luxury extended-stay property to reside in the heart of Hollywood, according to Kilroy. The firm has teamed up with The Kor Group to collaborate on the project’s programming, design and branding. Kor will also manage the project once construction is complete in spring 2016.

January 22, 2014

Multifamily Southeast

NORTHMARQ ARRANGES $10M REFINANCING OF 423-UNIT APARTMENT COMMUNITY

by admin January 21, 2014

GASTONIA, N.C. — NorthMarq Capital has arranged $10 million in refinancing for Ashbrook Village Apartments, a 423-unit multifamily community located in Gastonia. Bill Matone of NorthMarq’s Charlotte office arranged the 10-year loan with a 20-year amortization schedule through Freddie Mac.

January 21, 2014

Midwest Multifamily

NORTHMARQ ARRANGES $29.5M LOAN FOR APARTMENT COMPLEX

by admin January 21, 2014

LA VISTA, NEB. —NorthMarq Capital’s Omaha regional office has arranged a $29.5 million loan for the refinancing of Harrison Hills Apartments, a 484-unit property located at 6925 S. 115th St. in La Vista. The 10-year loan includes a 30-year amortization schedule. John Bendon, senior vice president and managing director, and Jason Kinnison, vice president of NorthMarq’s Omaha regional office, arranged the financing for the borrower, Harrison Hills Apartments LLC, through Freddie Mac.

January 21, 2014

Multifamily Western

DESERT PALMS NORTH APARTMENTS IN LAS VEGAS SELLS FOR $7.8M

by admin January 21, 2014

LAS VEGAS – The 248-unit Desert Palms North Apartments in Las Vegas has sold to DesertPalms, LP for $7.8 million. The Class C community is located at 1001 E. Carey Ave. It was built in 1992. The complex is currently 78 percent occupied. The seller was Desert Palms North, LLC. The transaction was executed by NAI Vegas’ Sauter Multifamily Group

January 21, 2014

Multifamily Western

BLANDFORD HOMES BUYS 19.3 ACRES IN MESA FOR $3.2M

by admin January 21, 2014

MESA, ARIZ. — Blandford Homes has acquired 19.3 acres in Mesa for $3.2 million. The site is located near the southwest corner of Greenfield Road and McDowell Road. The company plans to develop high-end executive homes on lots containing about 35,000 square feet. Brent Moser, Mike Sutton and Brooks Griffith of Cassidy Turley Arizona’s Land Group represented both the buyer and the seller, Horlacher Foundation, Inc., in this transaction.

January 21, 2014

Multifamily Southeast

THE RADCO COS. BUYS ATLANTA APARTMENT BUILDING FOR $9.4M

by admin January 20, 2014

ATLANTA — The RADCO Cos. has acquired the 160-unit Les Jardins Apartments, a distressed multifamily community located in Atlanta’s Chamblee submarket, for approximately $9.4 million. The property consists of 60 percent three-bedroom units, 25 percent two-bedroom units and 15 percent four-bedroom units. The asset is located within blocks of an elementary school, middle school and Mercer University’s Atlanta campus. The RADCO Cos. is an Atlanta-based turnaround specialist that currently has more than 5,300 multifamily units in its portfolio. The company will rename the asset Ashford Embry Hills.

January 20, 2014

Multifamily Northeast

WALTERS GROUP COMPLETES CONSTRUCTION OF LAUREL OAKS

by admin January 20, 2014

BARNEGAT, N.J. — Walters Group has completed construction on Laurel Oaks, an affordable apartment community in Barnegat, a city in southern New Jersey. Comprised of four buildings, the mid-rise apartments include 94 units and features a selection of energy-efficient one-, two- and three-bedroom layouts with rents ranging from $267 to $1,201 a month. Each unit is equipped with Energy Star appliances, including a washing machine, dryer and dishwasher. The project is located on Route 9 between Barnegat Boulevard and Rose Hill Road. Amenities at the community include a playground, basketball court, fully furnished clubhouse with fitness center, computer workstations, bike racks, on-site parking and a 24-hour, on-site management and maintenance. The residential project was recently awarded LEED Platinum certification.

January 20, 2014

Newer Posts

Older Posts

Upcoming Events

Aug
18