Business Specialties
On the Market: 5 Interesting Listings for the Week of 10/23
This week’s listings feature a massive mixed-use condo/commercial project near San Francisco’s Ocean Beach and a value-add opportunity in Downtown Durham, N.C.’s Ninth Street district.
PA Community Lands $32M Refi
Managed by Paradigm Properties Group, Deerfield Commons is located in Central Pennsylvania. The loan includes two years of interest-only payments followed by a 30-year amortization schedule.
Jefferson Apartment Group Acquires Suburban Boston Asset
One Upland, in Norwood, Mass., includes 262 units. The property was built by Campanelli and Thorndike Development in 2016.
Work Underway on CA Ventures’ Phoenix Community
The first of three phases of The LINK PHX is a 30-story mixed-use structure that will feature 257 apartments and 7,000 square feet of retail space, half of which will be reserved for start-ups, not-for-profit enterprises and artists.
240-Unit Orlando Community Trades for $30M
Beachwold Partners acquired the multifamily property located in Davenport, Fla. VennPoint Real Estate was the seller and CBRE arranged the transaction.
Top 4 Multifamily Marketing Trends
At NMHC’s OPTECH Conference & Exposition in Las Vegas, executives discussed the current trends in the industry and what property managers should be utilizing to obtain and retain residents.
Meridian Secures $24M Refi for Miami Asset
Originated by a New York-based balance sheet lender, the fixed-rate mortgage features a seven-year term and a rate of 3.75 percent. Meridian worked on behalf of the owner, PMC Property Group.
Stiles Tapped to Develop Ft. Lauderdale High-Rise
The 25-story tower will feature 327 units and an array of luxury amenities. This will be the company’s second project with Greystar in the city.
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.
New Phoenix Community Changes Hands for $59M
The sale of Alta Fillmore, a 230-unit apartment community is expected to close in late November. Pure Multi-Family plans to fund the purchase with cash on hand and debt financing.