DEAL OF THE DAY: Trumark Companies Sells Silicon Valley Site to BRE Properties for Development of Mixed-Use Village
Trumark Companies has sold 6.6 acres of land in Silicon Valley to BRE Properties Inc. for the construction of a mixed-use residential village.
DEAL OF THE DAY: KeyBank Provides $16M in Freddie Mac Funding for Acquisition of Seattle-Area Apartment
KeyBank Real Estate Capital recently provided a $16 million acquisition loan to Treetops Investors.
DEAL OF THE DAY: NorthMarq Obtains $5.92M Mortgage for Property that is Brought Out of Foreclosure
Frank Relihan and Jason Smith, vice presidents of NorthMarq Capital’s Washington, D.C. Regional office, arranged first mortgage financing of $5.92 million for the Riverfront Apartments, a 356-unit former tax credit multifamily complex.
DEAL OF THE DAY: LeCesse Development Obtains $36.9M FHA Loan to Develop Apartments in Twin Cities
LeCesse Development has closed on a Federal Housing Administration (FHA)- insured mortgage in the amount of $36.9 million to develop Uptown at City Walk, a 242-unit luxury apartment project to be built in the Twin Cities region.
DEAL OF THE DAY: Trophy Residential Tower in Arlington, Va. Auctions for $118M
The Washington, D.C. office of HFF (Holliday Fenoglio Fowler LP says it has closed the sale of The Palatine, a 262-unit, Class A high-rise multi-housing community in Arlington, Va. Crescent Heights of America was the successful bidder at the foreclosure auction and purchased the property for $118 million.
DEAL OF THE DAY: ARA Brokers Sale of Two Well-Located Distressed Properties for $52.15 Per Square Foot
Apartment Realty Advisors (ARA) brokered the sale of a 78-unit, two property portfolio in Aurora, Colo. to JTA Properties, a private local buyer, for $2,125,000, representing a price per unit of $27,244, or $52.15 per square foot.
DEAL OF THE DAY: Colliers Directs MF Sale in LA at 3.78% Cap Rate
Colliers International directed the sale of an eight-unit apartment building
DEAL OF THE DAY: Eastern Consolidated Completes $8.1M in Sales of Construction Loans for Stalled Condo Projects
Brooklyn, N.Y.—Eastern Consolidated brokered the purchase of defaulted loans to make possible the development of two stalled luxury condominiums in the Williamsburg neighborhood Brooklyn. In two separate transactions, Eastern Consolidated Senior Director David Schechtman and Associate Geoff Rand, represented the buyer, Nachas 180, LLC, of the two loans obtained to cover the cost of constructing the condominiums. Both off-market deals sold for a combined $8.1 million, were completed on an all-cash basis and represent the recapitalization of the Williamsburg developments which were well-conceived, but fell prey to the market downturn in end-unit pricing, and high construction costs. The two new…
DEAL OF THE DAY: Alliant Capital Refinances Two Chicago Properties
Alliant Capital LLC made a $1.6 million refinance of Kedzie Boulevard Apartments,
DEAL OF THE DAY: Franklin Street Brokers Bank Sale of 10%-Occupied Property
Franklin Street Real Estate Services facilitated the sale of the 20-unit Parkview Apartments, which had been foreclosed on by the lender more than one year ago. The property had a variety of physical and operational challenges and was 10 percent occupied at the time of sale.