Detroit’s Unique Development Scene
Jonathan Holtzman of City Club Apartments discusses what sets the metro apart from other Midwestern markets.
CWS Community in Duluth, GA, Trades for $52M
The seller, CWS Capital Partners, acquired the 323-unit Class A property in Atlanta’s northeast suburbs from Paces Properties in 2013 for $12.2 million.
Morgan Properties Lands $91M Multifamily Portfolio
Constructed between 1969 and 1979, the four communities in and near Nashville, Tenn., total 826 units. The buyer took a nearly $75 million Fannie Mae loan to finance the acquisition.
PMG Miami Community Lands $106M Refi
The 464-unit property, which offers apartments as well as bedrooms for rent, started construction in mid-2016 and recently opened its doors.
Riverside Community Gets New Management
UBS Realty Investors, the owner of the 2005-built, 256-unit Inland Empire asset, selected Alliance Residential Co. to oversee property operations.
Jacksonville Community Changes Hands
Mody Real Estate Group traded the nearly 200-unit property for almost $11 million, providing a 3-year acquisition loan to the buyer.
Arlington Apartments Change Hands
A private investor picked up the 143-unit metro Dallas property, financing the acquisition with a $9 million Fannie Mae loan originated by Dougherty Mortgage.
Majestic Realty Enters Multifamily Market
The longtime developer’s first residential project is a 17-building, garden-style community in Southern California’s Inland Empire. Completion is scheduled for late 2019.
NorCal Senior Community Changes Hands
Gerson Bakar & Associates traded the 154-unit property for $29 million, with the buyer securing a nearly $30 million acquisition and development loan.
SoCal Apartments Trade for Nearly $50M
The seller, StarPoint Properties, acquired the 232-unit Class B community in the Inland Empire for approximately $15 million in late 2001.