Business Specialties
The Next Wave in Multifamily: Middle-Market Assets
With multifamily development hitting the brakes in major cities and shy rent growth on the horizon, investors are setting their sights on middle-market assets owned by Baby Boomers. Industry leaders predict that, as this $10 trillion market changes ownership, the largest transfer of properties in the history of real estate will occur.
Luxury Community Breaks Ground in Orlando
Wood Partners’ Alta Grande community will be located at the intersection of Orlando’s Tourism Corridor and its largest suburban office submarket. Leasing will begin in spring 2018.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
The May digital issue of MHN is now available!
The May issue offers a special focus on Marketing, including articles about how to better harness the power of social media, new strategies to successfully communicate your message to specific demographic niches, and tech tools that work. You’ll also want to read the latest executive profile in our Mission: Success series, on Daryl Carter’s creation of Avanath Capital Management. In addition, Housing Trust Group’s Matthew Rieger offers a Q&A on development of affordable housing.
Greystar Opens CA Luxury Mixed-Use
Access, located in Culver City, includes 115 luxury apartments and 31,240 square feet of retail. The community has been designated LEED Silver.
Legacy Partners Refinances $37M Loan for SoCal Community Makeover
The company has received HUD approval to refinance a loan from Greystone and plans to renovate a 209-unit property In West Covina, Calif., that it has owned and managed since 2007.
Advancing Affordability
For nearly a decade, as founder & CEO of Avanath Capital Management, Carter has championed workforce housing. Along the way, he has built one of the nation’s largest affordable portfolios, comprising 40 properties valued at more than $1 billion.
Meridian Lands $20M Loan for Chicago Asset
Meridian secured a bridge loan for the acquisition of Ivy Park Homes, a rental townhome community in the South Side neighborhood.
Tarrytown Boutique-Style Community Announces Opening Date
Located west of MoPac, in Central Austin’s Tarrytown, the property includes 27 new residential units up for lease. The community offers the unique feature of having no stairs, only elevators to and from its underground parking.
Confluence Starts Work on Suburban Denver Apartments
Timberline Farms, a 314-unit, garden-style community, will feature one-, two- and three-bedroom apartments, with the first building slated to deliver in the second quarter of 2018, and the last building completed by the second quarter of 2019.