Brian Kelley: Investcorp’s Acquisition Strategy
Investcorp, a Bahrain-listed alternative investment fund, has recently expanded its U.S. residential portfolio with the acquisition of four properties in the metropolitan areas of Washington, D.C., Orlando, San Diego and Baltimore. The purchase price was approximately $300 million.
Continental Seeks Rezoning to Develop M-F Project in Liberty Towship
Developers are getting ready to start work on another multifamily development in the Cincinnati area. The project calls for the construction of a 288-unit apartment complex in Liberty Office Park.
Joint Venture Breaks Ground on Phase One of DC Community
MRP Realty and Florida Rock Properties celebrated the official groundbreaking of Phase One of the mixed-use Riverfront development.
District Picks Redbrick LMD-Gragg Cardona Team as Master Developer for Phase 1 of St. Elizabeths East Campus
In one of his final acts as mayor of Washington, D.C., Vincent Gray has selected the team of Redbrick LMD and Gragg Cardona to redevelop the first phase of the historic St. Elizabeths East Campus. The selection represents an important step forward for a project which could help transform one of the poorest sections of the nation’s capital.
Recertifying a Building as LEED EB Platinum
The 18-story office building at 750 East Pratt Street has been recertified and is now the first LEED EB Platinum building in Baltimore.
Independence M-F Community Commands Year’s Top Per-Unit Price in $13.8M Deal
Another Cincinnati area apartment building has recently changed hands. On December 11, Marcus & Millichap announced the sale of the Independence Oaks Apartments, an apartment complex in Independence, Ky. Nicholas Andrews, Joel Dumes and Stan Falk, all of Marcus & Millichap’s Cincinnati office, represented both the buyer and the seller in the transaction.
Multifamily Developers Advance Plans for Nearly 500 Units
Two new projects took major strides this month. Together, they will bring almost 500 units to the Greater Cincinnati area.
Gaslight Buys 150-Unit M-F Community in Clifton
Gaslight Properties recently acquired an apartment community in Cincinnati’s Clifton neighborhood, near the city’s downtown. The local apartment rental company bought the The Overlook at Clifton from Providence, RI-based PBE Companies LLC.
Led By Dayton, Ohio Again Tops Trulia’s Ranking of Affordable Housing Markets
Trulia released a report showing that Ohio was home to some of the nation’s most affordable housing markets for the middle class.
New York-Based Developer Plans 280-Unit Student Housing Community Near LSU
The hot Baton Rouge apartment market continues to attract more and more developers to the area. Recently, a New York-based student housing company has announced its plans to build a 280-unit apartment complex on a site located just outside the South Gates of the LSU campus.
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