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.
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.
Canadian Investor Buys $46M Phoenix-Area Asset
The 360-unit community in Chandler last traded more than a decade ago, when PEM Real Estate acquired it as part of a portfolio deal.
Kaplan Taps Prescient for 336-Unit Atlanta Tower
Prescient’s Digital Thread technology will be used to efficiently deliver the belated project. The BIM system is expected to cut development costs, risks and deliver a superior product.
Crown Bay Group Grows Atlanta Portfolio
The company acquired two properties in different suburbs of the metro. Plans to rehabilitate the 1970-built properties are underway, featuring unit improvements and amenity upgrades.
On the Market: 5 Interesting Listings for the Week of 5/7
Among this week’s listings are a century-old Manhattan property, a brand-new community near Philadelphia’s Center City, and more.
Rittenhouse Realty Sells Again in Philly’s Fishtown
The property, originally constructed in the late 19th century, was transformed into a luxury community and features a ground-floor commercial space currently leased to Fishtown Brewery.
Baron Properties, Buchanan Street Sell $44M Phoenix Community
Vue Park West, which the joint venture acquired in 2014 for $30 million, is situated within the 250,000-square-foot Park West mixed-use development.
Rincon Partners Buys $22M Community in Phoenix
Previous ownership implemented a thorough renovation program in 2015. The asset traded at almost four times the original purchase price.