Business Specialties
NJ Community Sells for $27M
A joint venture of C6 Real Estate Partners and Citymark Capital acquired the newly built, 100-unit River Edge at Garfield, which comprises one- and two-bedroom apartments ranging from 834 to 1,217 square feet.
RealtyShares Closes $12M Loan for Seattle Student Housing
The 10-property portfolio is located near the University of Washington, in one of the fastest growing housing markets in the U.S. The acquisition marks the company’s largest commercial real estate debt transaction to date.
Miller Construction Completes $21M FL Community
The 40-unit Sereno at Bay Harbor Islands was co-developed by Integra Investments and 13th Floor Investments. Designed by Corwil Architects, the property features a curving structure to maximize waterfront views.
5 Cap Launches Investment Program with $60M Buy
The acquisitions are in line with the new national investment venture’s strategy to pump more than $1 billion into assets under management, focusing on purchasing and operating value-add residential properties.
Liv URBN Tops Off Phoenix Condo Property
Contour on Campbell, the city’s newest condominium community, is closer to completion. The company plans to welcome first residents early next year.
Dallas Community Lands $14M Refi
The 12-year term Fannie Mae loan originated by Dougherty Mortgage LLC and Old Capital Lending has a 30-year amortization schedule. The 27-building community features studios, one- and two-bedroom apartments.
Bell Partners Closes $600M Fund
: Value-added Bell Apartment Fund VI invests in multifamily properties in the United States, leveraging the apartment and managing firm’s operating platform.
SkyHouse Uptown South Tower to Open in Charlotte, NC
Novare Group and Batson-Cook Development Co. are nearing completion of the community’s second phase. The 24-story building will open June 22.
May Employment Solid but Concerns Remain
The United States economy added 138,000 jobs in May, according to the Bureau of Labor Statistics. The unemployment rate has now remained at less than 5 percent for a year, but the picture is not entirely rosy.
The Positive Impact of the Interest Rate Hike
CityView’s Sean Burton discusses the effect of an increased supply of multifamily units and explains why higher interest rates could spur more development.