Business Specialties
Affordable NJ Community Changes Hands
The new owner acquired Berkeley Terrace for a price tag of $12.2 million and plans to invest in extensive renovations. The project is slated for completion by August 2018.
PAC Snags Tampa-Area Luxury Property
The purchase of the newly built 280-unit community was financed through a first mortgage loan from Fannie Mae, originated by Berkadia Commercial Mortgage LLC.
Pacifica Refinances 9 Senior Housing Properties for $78M
Capital One provided the loan for the portfolio, which includes properties in Arizona, California, Florida, Oregon and Utah. The mortgage consists of $67.7 million in initial funding.
Nelson Brothers Acquires 184-Bed Student Housing
The company plans to convert 39 three-bedroom units into four-bedroom units. The community is in close proximity to multiple Pullman Transit bus routes, including an express route to the Washington State University campus.
Alamo Heights Community Changes Hands for $37M
The new owners intend to rebrand the property and invest in extensive renovations that will include both interior and exterior upgrades.
Omni Breaks Ground on $68M Affordable Bronx Community
The 15-story Morris II Apartments will comprise 154 units with a 4,000-square-foot ground-floor community space, and 30 percent of the units will be permanently affordable.
Bellwether Secures $75M Refi for Luxury Inland Empire Asset
The company arranged a $59 million permanent loan and a $16 million mezzanine loan for a 298-unit community asset in Ontario, Calif.
On the Market: 5 Interesting Listings for the Week of 7/24
This week’s listings include a newly constructed LEED Platinum community in Portland and an 1899 brownstone in the Williamsburg section of Brooklyn, N.Y..
FM Capital Acquires Campus Evolution Villages
Located near Georgia Southern University in Statesboro, the 528-bed student housing community is slated for rebranding and enhanced amenities.
TH Real Estate Acquires 2 for $93M
The Minneapolis communities, near the University of Minnesota, include the 101-unit The Knoll and the 210-unit The Bridges.