Business Specialties
U of Maryland Student Housing Changes Hands
Toll Brothers Campus Living and Ares Management sold Terrapin Row, a 418-unit, 1,493-bed community in College Park, Md. The sale was the largest single-asset student housing transaction so far in 2017.
Greystone Refinances 131-Unit WA Community
The Henry, a Class A community situated near the Museum of Glass, offers 161 units and 10,500 square feet of office and retail space.
6 Steps to Improve & Sustain NOI
Real estate managers can significantly improve asset value by controlling variable expenses. Laila Partridge of WegoWise shares how owners and managers can get on the fast track to scalable and sustainable savings.
Suburban LA Community Sells for $20M
Marcus and Millichap brokered the sale of Villa Hermosa Apartments in Norwalk, Calif. The sale marks the largest non-institutional multifamily transaction in the suburban city.
JLL Closes 238-Unit TX Community Sale
M-DW LP sold a 238-unit multifamily community in Galveston, Texas. Gulf Coast Kington Properties purchased the 15-building property, which includes one- and two-bedroom units.
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.
BRG Acquires $36M Alabama Community
Bluerock Residential Growth REIT Inc. bought a studio, one-, two- and three-bedroom apartment unit. Springs at Greystone is situated in the top-tier suburban district in Birmingham, Ala. The firm plans to renovate the 300-unit building.
REVA Development Opens Luxury IL Community
Located near suburban Chicago’s Deer Park Town Center, the property features a combination of mid-rise flats and rental townhomes, totaling 236 units.
Passco Nabs 5th Property in KC Metro Area
Greenwood Reserve, a 228-unit luxury community in Olathe, Kan., traded for $38.3 million. Jeff Stingley of CBRE represented both the buyer and the seller, an affiliated entity of Cityscape Residential. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing through Fannie Mae.
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.