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.
Greystone Provides $22M Loan for Dallas-Area Community
The company was able to offer an exit strategy for a long-term HUD financing solution, in addition to the conventional loan.
Alpha Wave Goes Shopping in Vegas
The company acquired Cypress Springs Apartments, located where new supply is somewhat limited compared to the metro’s other areas. The firm will invest approximately $1.7 million in capital improvements.
Transcontinental, Adobe Break Ground on Dallas Community
The Lakeside Lofts luxury community will be situated within the Mercer Crossing mixed-use development, which is set to encompass 1,200 acres of office, restaurants, hotels and single family homes.
Philadelphia’s 10 Largest Communities Under Development
From Center City to the suburbs, developers find rising demand for live-work-play environments. Luxury high-rises, student housing and creative redevelopments lead the list.
On the Market: 5 Interesting Listings for the Week of 5/28
This week’s listings include a newly constructed community proximate to the East Bay’s diverse employer base and two properties within walking distance of Illinois State University, among others.
Greystone Brown Facilitates $35M Atlanta-Area Transaction
Pennington Pointe, located in Marietta, Ga., previously traded in 2016 for $27.6 million, a sale which was subject to a $22 million Fannie Mae loan, due 2023.
ABI Brokers $5M Sale in Phoenix
The community underwent an exterior renovation in 2015 when it was acquired by the seller. The current owner has the opportunity to increase value by implementing interior upgrades.
On the Market: 5 Interesting Listings for the Week of 5/21
This week’s listings include 1950s-era townhomes, a fully affordable community and a 150-unit property in New Mexico’s second-largest city.
Security Properties Nabs $59M Phoenix Community
The company plans to upgrade Pavilions on Central, which includes 254 units and a spa, a fitness center and 400 parking spots.
Waterstone MFG Arranges $6M Sale of NC Asset
The 32-acre property served as Coast Guard housing prior to being auctioned off by the government. A developer acquired it for $2.5 million in 2016 and implemented thorough renovations.