Tudor Scolca-Seușan is an Associate Editor with Commercial Property Executive and Multi-Housing News. He joined CPE and MHN in 2017 and is passionate about doing research for the two publications. He is responsible for data center and industrial coverage on CPE, writing seasonal metro reports on multifamily, interviews and features, as well as occasionally editing news stories.
Elion, Buchanan Partners Break Ground in Suburban D.C.
The 254-unit luxury community is slated for completion in 2020 and will feature a plethora of high-end amenities. The developer will seek to obtain National Green Building Standard certification.
San Diego Affordable Community Lands $4M HUD Loan
Love Funding has arranged a permanent financing solution for the property, which received a construction loan with a LIHTC component in 2007.
Blackfin, GMF Acquire 600-Unit Community in Virginia Beach, VA
The value-add acquisition of Baker Crossing marks the companies’ first partnership. The property last changed hands in 2005 for $31.5 million.
NV Affordable Community Sells for $35M
A New York City-based firm acquired the 332-unit Southwest Village property from PacifiCap Properties. The asset last changed ownership in 2006.
Rhodium Capital Advisors Expands in the South
The company acquired Grand Pointe Apartments, a 266-unit community located in Lafayette, La., and will invest a significant amount of capital to increase the property’s value.
The Calida Group Pays $100M for Las Vegas Community
The seller, Shopoff Realty, acquired the asset for $72.6 million in 2016 as a value-add investment.
Las Vegas Multifamily Report – Winter 2019
Multifamily investment sales in 2018 crossed the $2 billion mark for the third year in a row, while the average rent hit a new peak for the current cycle.
Gellar Associates Acquires Baltimore Asset
The buyer, Geller Associates, opted to finance the acquisition under Fannie Mae’s Green Rewards program and will implement energy and water saving measures.
Phoenix Community Trades for $32M
The property, built in 1985, is located in Phoenix’s Metrocenter submarket and was 92 percent occupied as of December, according to Yardi Matrix.
29th Street Capital Buys 2 Properties in Las Vegas
The company acquired properties in two of the most sought-after Las Vegas submarkets and plans to spend $1.8 million in capital improvements on one of the assets.