DEAL OF THE DAY: Tribeca Loft Building Sells for $13M after Only 2.5 Months on the Market
New York–The late-19th century, seven-story loft building at 481-487 Washington Street in Manhattan’s trendy TriBeCa neighborhood has just traded for benchmark pricing, fetching $13 million ($281 per square foot).
Scott Watson Rejoins Johnson Capital, Looking Forward to Multifamily Deals
Irvine, Calif.–Scott Watson has rejoined Johnson Capital as a vice president and will be arranging debt and equity capital for a wide range of commercial and residential real estate.
Construction Commences on $33M Green Affordable Housing Development
Davie, Fla.–Ground has just broken on East Village, a 155-unit affordable housing townhome community in Davie, Fla., that will bring much-needed housing to very low-income families.
Texas Apartment Markets Rebounding
Three recent reports on major metro area apartment markets in Texas by real estate investment specialist Marcus & Millichap point to better times for apartments because of a relatively buoyant Texas economy.
Interview with Lydia Bishop: Management Strategies in Florida
Dallas–Lydia Bishop has been promoted to senior vice president of the Florida region with Riverstone Residential Group, one of the largest privately owned, third-party multifamily apartment management companies in the United States.
Santee Court Deal Shows Investor Interest in Adaptive Reuse Multifamily
Los Angeles–Santee Court, a 165-unit adaptive reuse multifamily property in three closely related downtown Los Angeles buildings, has traded hands for $31.1 million.
Oak Residential Enters Indianapolis Market
Deerfield, IL–Oak Residential Partners, LLC closed on its second multifamily investment in the Indianapolis area in two months, the 146-unit Grande Reserve at Geist Apartments.
Edward Scott Appointed to Spearhead Kislak’s Florida Expansion
J.I. Kislak Mortgage LLC has appointed Edward Scott to senior vice president and southeast divisional manager.
OneWest Cuts $1.4B Deal With Citi Holdings
OneWest Bank FSB has purchased a $1.4 billion multifamily and commercial real estate loan portfolio from Citibank NA’s Citi Holdings division.
NAREIT Board Rings Bell at NYSE
New York—In celebration of the 50th anniversary of REITs, members of the executive board of the National Association of Real Estate Investment Trusts (NAREIT) were invited to ring the opening bell at the New York Stock Exchange today.