Multifamily

Affordable Housing Investment Brokerage Negotiates $2.8M Sale of Two Communities in Iowa

by Kristin Harlow May 27, 2020

WATERLOO, IOWA — Affordable Housing Investment Brokerage Inc. has negotiated the sale of two adjacent multifamily communities in Waterloo for $2.8 million. Mt. Carmel is a 13-building property totaling 50 units. It was originally built in 1980. Mt. Village is an eight-building property totaling 30 units that was built in 1992. Kyle Shoemaker and Dan Piatkowski of Affordable Housing Investment Brokerage represented both parties in the sale. A nonprofit organization purchased the communities from a private investor.

May 27, 2020

California Development Multifamily Western

Summerhill, KTGY Architecture Complete 105-Unit Theo Apartment Community in Pasadena

by Amy Works May 27, 2020

PASADENA, CALIF. — Summerhill Apartment Communities, in collaboration with KTGY Architecture + Planning, has completed the development of Theo, a multifamily complex located at 289 N. El Molino Ave. in Pasadena. Construction for the six-story development began in third-quarter 2017, with the first apartments delivered first-quarter this year. The property features 105 units in a mix of one- and two-bedroom layouts. The units include select ground-floor residences offering separate, townhome-style street entries and 16 penthouse floor plans with enhanced finishes and a private penthouse terrace. The community features rooftop amenity space; ground-floor public spaces; a clubhouse facility with pool, spa and other outdoor amenities; a yoga studio and fitness center; and a pet area. The property also offers 154 parking spaces on two subterranean levels. Summerhill and KTGY worked with Pasadena Heritage and the City of Pasadena Design Commission to develop the structure. The property is adjacent to Theodore Parker Lukens House, which was built in 1887, and a 120-year-old cedar tree.

May 27, 2020

Acquisitions Colorado Multifamily Seniors Housing Western

Blueprint Brokers Sale of Three Skilled Nursing Facilities in Colorado

by Amy Works May 27, 2020

DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities in the Denver metro area and a third in Eastern Colorado. The portfolio totals 250 skilled nursing beds, as well as 25 assisted living units. LTC Properties sold the assets as part of its plan to divest all its Preferred Care-branded communities. The buyer is a private company looking to expand its presence in Colorado, as well as its relationships with its third-party operators in the state. The price was not disclosed.

May 27, 2020

Industrial Loans Multifamily ORIX Retail Thought Leadership Video

Video: Q&A with James Flynn of Hunt Real Estate Capital

by Sarah Daniels May 27, 2020

James Flynn, CEO of Hunt Real Estate Capital and ORIX Real Estate Capital, spoke with Randy Shearin of France Media in a brief interview to give insight on what lenders think about debt and equity during the COVID-19 pandemic, industry flexibility and pivoting operations with an eye towards what assets are most likely to recover quickly after the crisis. Flynn talks not only about how the pandemic has changed business as usual for lenders, but also Orix’s acquisition of Hunt Real Estate and the need to transition as a business in the midst of global change. Listen to this interview here. Topics discussed by James Flynn and Randy Shearin include: Mergers and uniting platforms/organizations in a time when tech is paramount Deal closing/lending: before, during and after COVID-19 Sectors/asset classes of interest to lenders Hear how lenders are approaching the coronavirus pandemic crisis and what’s ahead for the lending industry. Q&A sponsor: Hunt Real Estate Capital, a division of ORIX Real Estate Capital, is a leader in financing commercial real estate throughout the U.S. The company finances all types of commercial real estate: multifamily properties (including small balance), affordable housing, office, retail, manufactured housing, healthcare/senior living, industrial and self-storage facilities. …

May 27, 2020

Affordable Housing Georgia Loans Multifamily Southeast

Berkadia Provides $16.2M Refinancing Loan for Affordable Housing Community in Atlanta

by Alex Tostado May 26, 2020

ATLANTA — Berkadia has provided a $16.2 million Freddie Mac refinancing loan for The Residences at City Center, a 182-unit affordable housing community in Atlanta’s Vine City neighborhood. The 10-year loan features a floating interest rate and five years of interest-only payments, followed by a 30-year amortization schedule. The property offers one-, two- and three-bedroom units that were recently renovated to include granite countertops, walk-in closets, stainless steel appliances and bay windows. Communal amenities include a pool, fitness center, laundry facilities, outdoor area with grilling stations and a dog park. The Residences is located at 55 Maple St. NW, adjacent to Mercedes-Benz Stadium. Andy Hill and Tyler Nowlin of Berkadia originated the loan on behalf of the borrower, Texas-based Domain Communities.

May 26, 2020

Loans Massachusetts Multifamily Northeast

Arbor Realty Trust Provides $59M Fannie Mae Loan for Refinancing of Multifamily Property in Metro Boston

by Alex Patton May 26, 2020

CHELSEA, MASS. — Arbor Realty Trust has provided a $59 million Fannie Mae loan for the refinancing of One North of Boston II, a 222-unit multifamily property located in the northern Boston suburb of Chelsea. Arbor provided the 10-year, fixed-rate loan to a joint venture between locally based firms Redgate Capital Partners LLC and TransDel Corp. Located at 150 Heard St., the six-story property totals 182,581 net rentable square feet and features two studio apartments, 161 one-bedroom, 44 two-bedroom and 15 three-bedroom units. The property, which is Phase II of the One North Boston project, was constructed in 2016. Jeff Black, Kevin Phelan, Sean Burke and Bryan Koop of Colliers International originated the loan.

May 26, 2020

Acquisitions Multifamily New Jersey Northeast

Kislak Co. Brokers Sale of 62-Unit Multifamily Complex in Chambersburg, Pennsylvania

by Alex Patton May 26, 2020

CHAMBERSBURG, PA. — Kislak Co. Inc. has brokered the $5 million sale of Coldbrook Meadows Apartments, a 62-unit multifamily complex in Woodbridge, approximately 50 miles southwest of Harrisburg. Located at 740-780 Cumberland Ave., the 79,000-square-foot property includes three buildings with 10 one-bedroom, 44 two-bedroom and eight three-bedroom units. The property was constructed in 1970. Matt Wolf of Kislak Co. represented the undisclosed seller in the transaction. Wolf also procured the buyer, a private investor.

May 26, 2020

Loans Multifamily Texas

Arbor Provides $28M Fannie Mae Loan for Refinancing of Houston Apartments

by Taylor Williams May 26, 2020

HOUSTON — New York-based Arbor Realty Trust Inc. has provided a $28 million Fannie Mae loan for the refinancing of Casa Verde, a 384-unit apartment community in Houston. Built in 1973 and renovated in 2010, the property features one-, two-, three- and four-bedroom floor plans. Amenities include a pool, clubhouse and onsite laundry facilities. Brian Scharf of Arbor originated the loan on behalf of the undisclosed borrower.

May 26, 2020

Acquisitions California Multifamily Western

Kelly Morgan Commercial Negotiates $19.2M Sale of Valerio Village Apartments in Los Angeles

by Amy Works May 26, 2020

LOS ANGELES — Kelly Morgan Commercial Group at KW Commercial has arranged the sale of Valerio Village Apartments, a multifamily property in Los Angeles. A San Diego-based private investor acquired the property for $19.2 million, or $200,337 per unit. The seller was not disclosed. Located in the Van Nuys neighborhood, Valerio Village Apartments features 96 units.

May 26, 2020

California Development Multifamily Seniors Housing Western

Panorama Plans 80-Unit Seniors Housing Community Near Beverly Hills

by Amy Works May 26, 2020

LOS ANGELES — Panorama Senior Housing has released plans for an assisted living and memory care community on Holt Avenue, 200 feet south of Los Angeles’ Beverly Hills neighborhood. KTGY Architecture + Planning designed the 61,000-square-foot project. Construction is slated to start in early 2021, with delivery planned for late 2022. The community will have a total of 80 resident rooms, 62 for assisted living and 18 for memory care. The memory care units will be on the second floor of the five-story building, with a dedicated common area, dining room and patio. “[My goal is to] come up with buildings that reflect the urban setting,” says Daniel Kianmahd, founder and principal with Panorama. “That’s where baby boomers want to age, in the same urban neighborhood where they raised their families.” “I’m keenly aware of the scarcity of developable sites,” continues Kianmahd. “The solution is to get creative with layouts so we can build the housing needed to combat the housing crisis. Bringing this and other senior-focused developments to fruition is essential to achieving balanced housing solutions for the entire region.”

May 26, 2020

Newer Posts

Older Posts