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.
Lee & Associates Brokers $21M Phoenix Transaction
Biltmore Pointe Apartments includes 101 units and was built in two phases in 1959 and 1972. The new owner intends to add value to the investment through a substantial renovation.
Fulton Hill Properties Breaks Ground on Richmond Project
Artisan Hill will be a 204-unit community adjoined by an artists’ gathering place. The development, located at 1000 Carlisle Ave., near several parks and trails, is slated for completion in 2019.
JV Receives $61M Loan for MD Development
Walker & Dunlop provided a 40-year, fixed-rate HUD loan for the development of Monarch at Waugh Chapel. The apartment community will be situated midway between Washington, D.C., and Baltimore, along U.S. Route 3.
Baron Properties Buys Phoenix Community for $20M
Since acquiring Capella Place in 2012 for less than half the price, Gelt has made several improvements, adding value to the 150-unit property.
Nusbaum Opens Doors of 1st MD Project
The Fred, a 240-unit apartment community, is situated only an hour away from Baltimore and Washington, D.C. The company initially invested $50 million into the development, which broke ground last year.
White Point Breaks Ground on SC Community
Huger Street will be a 190-unit complex located in downtown Charleston, S.C. The property is slated for completion in 2019, but pre-leasing will start next year.
TerraCap Buys Suburban ATL Portfolio for $116M
The 1,100-unit portfolio is comprised of four assets situated in Atlanta’s northern suburbs. CBRE facilitated TerraCap’s acquisition by arranging a four-year loan provided by Principal Real Estate Investors.
Comunidad Realty Buys $55M Atlanta Assets
The two Norcross communities total 687 units and are located near the I-85 corridor. Both assets were subject to permanent Fannie Mae loans.
Community Trades for $45M in Philly Metro
Aulder Capital obtained a seven-year securitized loan through Freddie Mac’s CME Program for the property, which is situated 15 minutes from the University of Delaware.
Luxury Community Opens on Philly’s Main Line
The 36-acre site where the luxury apartment community is located also features a 20,000-square-foot historic mansion built in 1881, which will be updated with modern amenities.