Multifamily

HFF Arranges $35M Refinancing for Multifamily Asset in Broward County

by Camren Skelton October 18, 2017

POMPANO BEACH, FLA. — HFF has arranged $35 million in refinancing for Overlook Pointe, a 249-unit apartment community located at 4611 N. Federal Highway in Pompano Beach. John Brownlee and Elliott Thorne of HFF arranged the three-year, floating-rate loan with two one-year extension options through a life insurance company on behalf of the borrowers, M-M Properties and its institutional partner. Constructed in 2015 in South Florida’s Broward County, Overlook Pointe’s residences feature stainless steel appliances, granite countertops, in-unit washers and dryers and patios or balconies. Community amenities include a swimming pool, grilling areas, rooftop amenity deck, fitness center, game room, playground, billiards and a coffee bar.

October 18, 2017

Multifamily Texas

High Street Tops Off 34-Story Luxury Apartment Tower in Dallas

by Taylor Williams October 18, 2017

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., has topped off Residences at Park District, a 34-story, 228-unit luxury apartment tower located near Klyde Warren Park in Dallas. The property will feature one-, two- and three-bedroom units ranging in size from 782 to 3,234 square feet, as well as 13,396 square feet of retail space. Amenities will include a fitness center with showers and a yoga room, business center, valet services, a pool with cabanas, a dog park and a spa. Preleasing is scheduled to begin during the first quarter of 2018.

October 18, 2017

Multifamily Texas

Presidium Group Acquires 343-Unit Apartment Community in Dallas

by Taylor Williams October 18, 2017

DALLAS — Presidium Group LLC has acquired Serendipity Apartments, a 343-unit, Class B multifamily asset located at 8780 Park Lane in Dallas. Built in 1975, the property offers a mix of one- and two-bedroom units averaging 610 square feet per unit. Amenities include a pool and a fitness center. The seller and sales price were not disclosed.

October 18, 2017

Loans Multifamily Texas

Hunt Mortgage Secures $18M Refinancing for 436-Unit Multifamily Property in Dallas

by Taylor Williams October 18, 2017

DALLAS — Hunt Mortgage Group has secured $18 million in refinancing for Magnolia Creek Apartments, a garden-style multifamily community situated on 14.4 acres at 7272 Marvin D. Love Freeway in Dallas. Built in 1988, the property consists of 28 three-story buildings totaling 436 units and offers amenities such as a lounge, fitness center, pool and playground. Hunt Mortgage arranged the seven-year Fannie Mae loan on behalf of the borrower, Delaware-based IRG MDL LLC.

October 18, 2017

California Multifamily Seniors Housing Western

Eden Housing Starts Construction of 90-Unit Affordable Seniors Housing Community in Bay Area

by Nellie Day October 18, 2017

FREMONT, CALIF. — Eden Housing has broken ground on Mission Court Senior Apartments, an affordable seniors housing community in the San Jose suburb of Fremont. KTGY Architecture + Planning designed the property for the nonprofit developer, which is building the community along with the City of Fremont. The 90 units are reserved for those over 62 years of age making between 30 percent and 50 percent of the area median income. The three-story building will be located in the Warm Springs area of Fremont on a 2.25-acre site near transportation, shopping and services. Mission Court Senior Apartments is part of Mission Falls, a master-planned development that includes five villages on a 23.5-acre parcel. When complete, the property will include 500 residential units and a 15,000-square-foot senior community center. Mission Court Senior Apartments is scheduled for completion in November 2018.

October 18, 2017

Georgia Multifamily Southeast

Cushman & Wakefield Brokers $58.6M Sale of Multifamily Property in Metro Atlanta

by Camren Skelton October 17, 2017

MCDONOUGH, GA. — Cushman & Wakefield has arranged the $58.6 million sale of Trees of Avalon, a 500-unit apartment community in McDonough, 30 miles south of Atlanta. Chris Spain and Alex Brown of Cushman & Wakefield represented the seller, Watkins Real Estate Group, in the transaction. Fairfield Residential acquired the property. Constructed in 2009, Trees of Avalon includes one- to three-bedroom units and features a swimming pool, fitness center, lighted tennis court and a car care center.

October 17, 2017

Affordable Housing Loans Multifamily North Carolina Southeast

Bellwether Enterprise Closes $42.1M Refinancing for Three Affordable Housing Properties in Charlotte

by Camren Skelton October 17, 2017

CHARLOTTE, N.C. — Bellwether Enterprise Real Estate Capital LLC has arranged $42.1 million in refinancing for three affordable housing properties in Charlotte. Victor Agusta of Bellwether Enterprise arranged the loans under the FHA 223(f) program on behalf of the borrower, Horizon Development Properties Inc. (HDP), an affiliate of the Charlotte Housing Authority. HDP received a $24.1 million loan for Southside Homes. The income-based housing development serves seniors, families and individuals with disabilities and includes 381 one- to four-bedroom units. The property is located in Charlotte’s South End neighborhood. HDP also received an $18 million loan for CHA Towers, which includes Edwin Tower in Uptown Charlotte’s Fourth Ward and Charlottetown Terrace in Charlotte’s Dilworth neighborhood. The newly redeveloped Charlottetown Terrace includes 161 units and is LEED Gold-certified. Both loans paid off existing debt and funded reserves for a portfolio of over 40 properties that were converting from a public housing subsidiary program through HUD’s Rental Assistance Demonstration (RAD) program.

October 17, 2017

Loans Multifamily New York Northeast

Cushman & Wakefield Arranges $550M in Financing for Two Manhattan Properties

by Amy Works October 17, 2017

NEW YORK CITY — Cushman & Wakefield arranged $550 million in fixed-rate financing for The Chetrit Family and Stellar Management. Provided by affiliates of Natixis Real Estate Capital and UBS AG, the financing is secured by Yorkshire Towers and Lexington Towers in Manhattan’s Upper East Side. Located at 305-315 E. 86th, Yorkshire Towers is a 21-story apartment building featuring 692 units. Built in 1963, Lexington Tower at the corner of East 88th Street and Lexington Avenue is a 15-story, 137-unit apartment building. Both properties recently underwent a comprehensive repositioning program that included renovations of the lobbies and common areas, reconfiguration of unit layouts and unit renovations. On-site amenities at the properties include 24-hour doormen, fitness centers and underground parking with on-site valets. Steve Kohn, Alex Hernandez, Alex Lapidus, Noble Carpenter, Doug Harmon and Adam Spies of Cushman & Wakefield secured the financing for the borrower.

October 17, 2017

Multifamily New York Northeast

Kalikow Group Breaks Ground on $29M Residential Building in Brooklyn

by Amy Works October 17, 2017

NEW YORK CITY — The Kalikow Group has broken ground on 2415 Church Avenue, a rental residential building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. The Kalikow Group, WRS Associates and Ishay Group are joint owners of the $29 million, 67-unit property. The as-of-right property will include studio, one- and two-bedroom units priced at market rates. The units will feature luxury finishes including high ceilings, open kitchens, high-end appliances, in-unit washers/dryers, wood floors and spacious bathrooms. On-site amenities will include a fitness center, lounge and workspace, rooftop deck and a bicycle storage area. KSQ Architects is providing architectural services for the project, which is slated for completion in mid-2019.

October 17, 2017

Loans Multifamily Seniors Housing Texas

KeyBank Arranges $74.6M Loan for Seniors Housing Portfolio in Texas

by Taylor Williams October 17, 2017

CLEVELAND — KeyBank Real Estate Capital has arranged a $74.6 million loan for the refinancing of a portfolio of seniors housing properties located in various markets throughout Texas. The portfolio consists of six skilled nursing facilities totaling 806 beds. John Randolph, Grant Saunders and Peter Trazzera of KeyBank arranged the financing through the FHA’s 232/223(f) mortgage insurance program. The borrower was a joint venture between Capital Senior Ventures, a subsidiary of Baltimore-based Capital Funding Group, and New York-based Blue Mountain Capital Management.

October 17, 2017

Newer Posts

Older Posts