Business Specialties
29th Street Capital Nabs 10th Phoenix Asset
The company plans to significantly update and renovate the 25-building community following the sale’s close.
KeyBank Secures $56M for MD Community
Verde at Greenbelt Station is a 302-unit, LEED-certified luxury apartment community in Prince George’s County, Md. The refinancing was implemented through Freddie Mac’s Lease-Up Program.
Prescient Launches New Investment Vehicle
The BIM design and building platform, which reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, has created Powered by Prescient. The subsidiary will acquire minority stakes in real estate development projects throughout the country. MHN talked with the company’s management to find out more about this new private equity firm.
Miami Mixed-Use Tops Off
Developed by CADE Capital Partners, Riverview Tower will comprise 100 units and 1,168 square feet of ground-floor retail space. The property first broke ground in January 2017 and is scheduled for completion by late 2018.
PGIM, Hanover Snap Up Houston Property
The JV has acquired Mosaic at Hermann Park, a 396-unit community with 20,087 square feet of ground-floor retail space.
Evergreen Line Expands with Apartment-Size Boilers
Well-McLain’s new line of compact products is designed to accommodate tight space. They are also energy efficient and can interact with various building management systems.
Aeon to Develop New Affordable Housing in Twin Cities
The nonprofit plans to build Greenway Terrace Apartments, a 54-unit community in Ramsey, Minn. The grand opening is expected in late 2018.
Transactions: December 2017
The following is a list of transactions that were announced between Sept. 29 and Oct. 26, 2017.
CBRE Arranges Sale of AL Student Housing Community
University Partners bought the 353,256-square-foot community for an undisclosed price. The 900-bed property features two-, three, and four-bedroom garden-style apartment units.
Dougherty Closes Acquisition Loan for Dallas-Area Community
Working on behalf of Spanish Chase LLC, Dougherty Mortgage secured a $4 million loan for the acquisition of a 77-unit community in Irving, Texas.