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 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.
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.