Multifamily

InterFace Student Housing Brings Industry Executives to Austin

by Taylor Williams April 11, 2017

AUSTIN, TEXAS — Over 1,200 leaders from across all facets of the student housing industry descended on Austin last week for the 9th annual InterFace Student Housing conference, held at the J.W. Marriott. The conference concluded April 7 after two-and-a-half days of networking and educational sessions on topics ranging from the state of the industry, to leasing and marketing, development and design. While the industry is evolving, sunny skies continue to be the forecast for years to come. Rising rental rates are coupled with record-breaking levels of asset sales, and an increase in institutional and foreign investment, further legitimizing the sector. The conference kicked off Wednesday, April 5, with the 6th annual SHB Open Golf Outing at Barton Creek Resort & Spa, and then moved to the third floor of the J.W. Marriott Austin, where a record-breaking number of attendees met to network and dine over a range of industry topics. The afternoon began with a round of Speed Networking, where over 100 industry experts participated in short, four-minute conversations designed to spur discussion and foster new relationships. The group then moved into 25 InterFace+ Info Roundtables on topics ranging from the possible obsolescence of interior amenities, to international student housing opportunities and …

April 11, 2017

Multifamily Oregon Western

Modera Goose Hollow Apartment Complex in Portland Sells for $47.5M

by Nellie Day April 10, 2017

PORTLAND, ORE. — An unnamed buyer has acquired the 134-unit Modera Goose Hollow apartments for $47.5 million. The community is located at 2004 S.W. Jefferson St. It was built in 2016. The property sits across the street from a MAX light rail system train station. Pete Shelton and Kim Grant of Institutional Property Advisors represented both the buyer and the seller, a partnership between Millcreek Trust and a Global Real Estate Investment Manager, in this transaction.

April 10, 2017

Arizona Multifamily Seniors Housing Western

Weitz Completes 119,000 SF Assisted Living Community in Gilbert

by Nellie Day April 10, 2017

GILBERT, ARIZ. — The Weitz Company has completed construction of Savanna House, a 119,000-square-foot assisted living and memory care facility in Gilbert. The memory care section is split into three neighborhoods for different levels of need. The number of units was not disclosed. Prevarian Senior Living developed the property. The Weitz Company was the general contractor. Florida-based firm Architectural Concepts designed the project. This is Prevarian’s first community in Florida. Life Care Services will operate the property.

April 10, 2017

Multifamily Nevada Seniors Housing Western

JCH Arranges New Operator for 95-Unit Assisted Living Community in Las Vegas

by Nellie Day April 10, 2017

LAS VEGAS — JCH Consulting Group has arranged the placement of a “long-term, publicly traded credit tenant” at a 95-unit assisted living community in Las Vegas. The name of the facility was not disclosed. The owner, a private equity firm based in California, had not received rent from the previous tenant for over a year and was in the process of eviction. JCH helped the new operator secure an emergency license to take over the distressed property. The new, 25-year lease agreement allows rents to return to market rates within three years. JCH Consulting Group is a real estate brokerage firm focused on seniors housing.

April 10, 2017

Multifamily New Jersey Northeast

Gebroe-Hammer Associates Brokers $7.8M Sale of Multifamily Portfolio in Jersey City, N.J.

by Haisten Willis April 10, 2017

JERSEY CITY, N.J. — Gebroe-Hammer Associates has arranged the $7.8 million sale of a multifamily property in Jersey City. Nicholas Nicolaou represented the seller, an independent real estate investment firm, and identified the buyer in the sale of the 72-unit portfolio. Comprising three separate buildings located at 158 Bergen Ave. (25 units), 162 Bergen Ave. (26 units) and 232 Bidwell Ave. (21 units), the portfolio is situated within the Greenville neighborhood at the southernmost point of Jersey City. The per-unit price of the sale was $107,600. The properties are located near light rail services and bus routes along with high-traffic roads including I-78, I-287 and the New Jersey Turnpike.

April 10, 2017

Connecticut Multifamily Northeast

Press/Cuozzo, Colonial Realty Arranges $4.2M Sale of Apartment Property in Hamden, Conn.

by Haisten Willis April 10, 2017

HAMDEN, CONN. — HLKT 655 Fitch LLC has acquired Willow Woods, a two-building multifamily complex containing 52 units at 655 Fitch St. and 42 Warner St. in Hamden, for $4.2 million. The property, which is contiguous to Southern Connecticut State University, consists of 45 two-bedroom units and seven one-bedroom units on 1.5 acres. Stephen Press of Press/Cuozzo Commercial Services and David Gorbach of Colonial Realty represented the seller, LMJ Properties, and procured the buyer.

April 10, 2017

Loans Maryland Multifamily Southeast

MidCap Financial Provides $20M Acquisition Loan for Apartment Community in Metro Baltimore

by John Nelson April 10, 2017

GLEN BURNIE, MD. — MidCap Financial has provided a three-year, $20 million acquisition loan for Quarterfield Crossing, a 200-unit, garden-style multifamily community located in Glen Burnie, about 13 miles south of Baltimore. MidCap Financial provided the financing to Blackfin Real Estate Investors and limited partner Capital Solutions. Dan Martin of Walker & Dunlop arranged the financing.

April 10, 2017

Georgia Multifamily Southeast

CBRE Brokers Sale of Apartment Community in Metro Atlanta

by John Nelson April 10, 2017

DUNWOODY, GA. — CBRE has arranged the sale of Aspire Dunwoody, a more than 500-unit multifamily community located at 7150 Peachtree Dunwoody Road in Dunwoody, part of Atlanta’s Central Perimeter submarket. Affiliates of Harbor Group International purchased the asset from Lincoln Property Co. for an undisclosed amount. Prior to the sale, Lincoln invested $6.3 million to renovate Aspire Dunwoody’s interior units and community amenities. Kevin Geiger, Malcolm McComb, Paul Berry and Shea Campbell of CBRE’s Southeast Multifamily Group represented the seller in the transaction.

April 10, 2017

Loans Multifamily Texas

Dougherty Mortgage Secures $16.5M Loan for Apartment Complex in San Antonio

by Taylor Williams April 10, 2017

SAN ANTONIO — Dougherty Mortgage LLC, a Minnesota-based mortgage broker, has secured a $16.5 million Fannie Mae loan for the acquisition of Parc 410 Apartment Homes, a 344-unit multifamily property located at 5927 N.W. Loop 410 on San Antonio’s northwestern side. Property amenities include two pools, tennis and basketball courts, fitness center and a gated dog park. The 12-year loan, which features a 30-year amortization schedule, was arranged through a partnership with Old Capital Lending on behalf of the borrower, 5827 Loop 410 LLC.

April 10, 2017

Multifamily Texas

HLC Equity Buys 192-Unit Multifamily Property in Carrollton for $13.2M

by Taylor Williams April 10, 2017

CARROLLTON, TEXAS — HLC Equity, a Pennsylvania-based investment and management firm, has purchased Toscana Apartments, a 192-unit multifamily community in the Dallas-Fort Worth metro of Carrollton, for roughly $13.2 million. Located at 17910 Kelly Blvd., the Class B property features a business center, 24-hour fitness center and resort-style pool. The property was 96 percent occupied at the time of sale.

April 10, 2017

Newer Posts

Older Posts

Upcoming Events

Aug
06