Multifamily

PARKHILL AFFORDABLE HOUSING COMPLEX COMPLETES $12M RENOVATION

by admin July 17, 2012

NEW YORK CITY — A $12 million renovation of the Parkhill Affordable Housing Complex at 260 Park Hill Ave. is complete. Parkhill, located between Park Hill and Osgood avenues, comprises eight buildings and is the largest affordable housing complex in Staten Island. It is home to 3,000 low-income residents. From 1998 to 2002, the owners completed $10 million in upgrades to the property utilizing funding from HUD and Freddie Mac's affordable housing program. Unithree, the new owner, then invested $12 million in a second round of renovations undertaken in two phases. The renovations include the installation of new kitchens, the construction of the Barack Obama Computer Center, upgrades to the apartment interiors and common areas and window replacements.

July 17, 2012

BERKADIA ORIGINATES $11.2M CMBS LOAN FOR COOPER'S MILL

by admin July 17, 2012

HOUSTON — Berkadia Commercial Mortgage has arranged $11.2 million in financing for the 366-unit Cooper's Mill apartment community, located at 15603 Gulf Freeway in Houston. The property is currently 90 percent occupied. Cutt Ableson and Jon Gilfillan of Berkadia's Houston office arranged the 10-year CMBS loan with a 30-year amortization schedule on behalf of the borrower, Cooper's Mill Apartments LLC.

July 17, 2012

Multifamily Western

OXNARD APARTMENT COMPLEX RECEIVES $10M LOAN

by admin July 17, 2012

OXNARD, CALIF. — An 80-unit multifamily project in Oxnard has received a $10-million construction loan. The loan features a three-year term, a 5.5 percent interest rate and a 60 percent loan-to-value. The loan was arranged by Jake Roberts and Anita Paryani of Marcus & Millichap Capital Corporation’s West Los Angeles office.

July 17, 2012

Seniors Housing Southeast

GROUND BREAKS ON $10M SENIORS HOUSING

by admin July 17, 2012

SUWANEE, GA. — The LaSalle Group has started construction on the $10 million, 26,000-square-foot Autumn Leaves of Sugarloaf, an Alzheimer's and dementia care facility located at 1455 Satellite Blvd. in Suwanee. Constant Care Family Management designed the property and will manage and operate the community. Lake Superior Contracting is the construction company for the project. The LaSalle Group, The Frost National Bank and Silverado Interests provided funding for the project, which is slated for completion in the first quarter of 2013.

July 17, 2012

Seniors Housing Texas

THE LASALLE GROUP TO BUILD $11.2M SENIORS FACILITY

by admin July 17, 2012

HOUSTON — The LaSalle Group has plans to build an $11.2 million, 26,000-square-foot memory care facility called The Autumn Leaves of West Houston, located in Houston. The facility will be the ninth memory care community The LaSalle Group has brought to the Houston area in approximately two years. The LaSalle Group, Silverado Interests and Community Trust Bank are partners for this project, which is slated for a first quarter 2013 opening.

July 17, 2012

Seniors Housing Texas

ARA BROKERS SALE OF MONTCLAIR ESTATES

by admin July 17, 2012

GARLAND — ARA has arranged the sale of the 111-unit Montclair Estates, an independent living community located in Garland. Titan SenQuest, a division of Titan Real Estate Investment Group, is the buyer, and affiliates of Walton Street Capital and Senior Lifestyle Corp are the sellers.

July 17, 2012

Multifamily Southeast

GROUND BREAKS ON $27M APT. COMPLEX

by admin July 16, 2012

LOUISVILLE, KY. — Watermark Residential has broken ground on a $27 million luxury apartment complex, located at the corner of Hurstborne and Dorsey Lanes in Louisville. The apartments will feature granite countertops and crown molding. Amenities will include a swimming pool, clubhouse and parking garages. The developer acquired the land from two financial institutions. Fred Sutterlin and Reed Weinberg of PRG Investments represented the sellers in the transactions. Completion is slated for December 2012.

July 16, 2012

Multifamily Southeast

WOOD PARTNERS BEGINS CONSTRUCTION ON N.C. APTS.

by admin July 16, 2012

CHARLOTTE, N.C. — Wood Partners has started construction on the 246-unit Perimeter Lofts, a multifamily complex located at 10110 Perimeter Parkway in Charlotte. The property will include flats, carriage, loft and direct access “brownstone” units. Amenities will include an integrated clubhouse with cyber cafe, movie and game room, fitness center, salt water pool with outdoor cabanas, grilling areas, dog park, pet spa and car care center. WP East Builders is the general contractor for the project and Geheber Lewis Associates is the architect. Completion is slated for July 2013.

July 16, 2012

Multifamily Southeast

LOVE FUNDING SECURES $9.57M LOAN

by admin July 16, 2012

MEMPHIS, TENN. — Love Funding has arranged $9.57 million in refinancing for the 92-unit Barboro Flats, a market-rate apartment building located in Memphis. William Jones Jr. and Christopher Schilling of Love Funding's New York office arranged the 35-year, non-recourse loan through HUD.

July 16, 2012

Multifamily Western

TIMBERLINE PLACE RECEIVES $4M

by admin July 16, 2012

FLAGSTAFF, ARIZ — Timberline Place, a Class A apartment/condo complex in Flagstaff, has received $4,087,000 in acquisition financing. The funds will be used to purchase 102 units of the 204-unit complex. The community was built in 2000 and converted into condos in 2006 following a major upgrade. Only half of the units had sold by 2010, however. Tim Storey and Patrick Barkley of Newmark Realty Capital’s Phoenix office arranged the five-year loan for the remaining units through a local bank.

July 16, 2012

Newer Posts

Older Posts

Upcoming Events

Jun
25