Business Specialties
NM Development Lands Tax Relief
The Albuquerque City Council approved the metropolitan redevelopment bond to support construction of the 226-unit Broadstone Northpoint Apartments, which broke ground in early 2017.
Titan Development Proposes ABQ Community
The company’s plans call for the addition of 102 market-rate apartments, adding to the Midtown/University submarket’s existing supply of 3,700 units.
Detroit-Area Portfolio Sells for $20M
Coseo Properties offloaded the two communities, totaling 326 units, five years after acquiring them from the Slatkin Corp. for approximately $11.6 million.
LA Luxury Community Receives $25M Financing
Wilshire Skyline has received the loan for the acquisition of the newly developed The Line Lofts located in Hollywood, Calif.
Related, Atria to Target $3B in Senior Housing Pipeline
The two companies are planning luxury high-rise properties in major U.S. markets, starting with New York City and San Francisco.
Boston Waterfront High-Rise Receives Financing
HFF has facilitated $341 million in construction financing and joint venture equity for Cronin Development’s luxury condominium tower, which is underway in the Seaport District.
Seattle Student Housing Receives $64M Construction Loan
The 24-story community will serve students attending the University of Washington, situated roughly 2 miles from the project. CapitalSource provided the 5-year term loan.
Resort-Style Community Changes Hands in San Antonio
Benimax purchased the 336-unit asset from Stone River Co., in a transaction subject to a $40 million Freddie Mac loan.
Red Capital Group Expands Into San Francisco
The firm has tapped Patrick McAllister as its new director of multifamily originations, building up its presence in the Bay Area and Pacific Northwest.
Brand Properties Sells Atlanta Portfolio for $133M
Blaze Partners acquired the two recently built communities, which comprise more than 600 luxury units in two of the metro’s booming submarkets.