Business Specialties
$29M Earmarked for MN Financing
Grandbridge Real Estate Capital arranged the first-mortgage loan for construction of a 110-unit community in St. Louis Park.
Sussex Capital Snags LA Community
Avison Young brokered the deal, which amounted to $450,000 per unit. The property, called Hillpointe, includes 30 units in Hollywood Hills.
6 Innovative Products from the NAA Education Conference
Some of the most interesting products included an augmented reality interior design app, a smart shower system and pet-friendly carpeting.
Aimco Buys Out Palazzo JV Partners for $452M
The company sourced funds for the acquisition by taking title subject to existing allocable debt and using cash proceeds from the pending sales of some of its assets in the Northeast.
Collier Breaks Ground on FL Community
Slated for completion in 2018, Canterbury Circle in Ocala will include 304 units in 20 buildings. The project will be the company’s third in the area.
JLL Arranges $88M for Long Island Properties
The company secured the loan for a 700-unit community in Moriches, N.Y., and a 200-unit community in Medford, N.Y.
MedEquities Buys CT Skilled Nursing Facility from Prospect Medical
Prospect ECHN Eldercare Services Inc. leased the 65,000-square-foot property in Tolland, Conn., which changed hands for an aggregate cash price of $10 million.
Greystar-Led Fund Acquires Monogram Residential
The $3 billion deal encompasses 49 communities and nearly 14,000 units in 10 states. Joining Greystar as the REIT’s co-owners will be affiliates of APG Asset Management N.V., GIC and Ivanhoe Cambridge.
LA Investor Snags $107M Suburban Denver Portfolio
Gelt’s acquisition includes two assets in Lakewood: the 408-unit Ascend at Red Rocks and the 172-unit Elevate at Red Rocks.
Renters on Rents
Do your renters think they’re getting a good deal? This month Kingsley Associates and Multi-Housing News surveyed residents to find out whether they see value in their rental agreements.