Business Specialties
Greystone Funds $6 Million Acquisition of Portsmouth M-F Complex
Greystone, a financial services and private investment group with headquarters in New York, announced this week it has closed on a $6 million Delegated Underwriting and Servicing loan from Fannie Mae. The loan will be used for the acquisition of Cedarfield at Churchland Apartments in Portsmouth, Virginia.
Kennedy Wilson Buys East Valley M-F Complex for $61.8 Million
A Salt Lake City apartment community was recently acquired by an international real estate investment and services firm. Kennedy Wilson has paid a fee of around $61.8 million for the Foothill Place Apartments complex and has secured a financing deal with Berkeley Point Capital LLC in order to complete the acquisition. KW has invested $15 million of private equity in the transaction and for the balance of the purchase with Berkeley, along with the $49.7 million loan provided by Berkeley.
Auction.com Tops Housingwire’s Top 50 Real Estate Tech Companies List
Auction.com, an online real estate marketplace, has been recognized by HousingWire Magazine as a member of its first-ever list of the top 50 companies in real estate technology.
Art of the Deal
Joint venture possibilities proliferate as investor appetite for multifamily grows.
Trident Sustainability Group Announces Affordable Community Earthcraft House and Community Certified
The Harmony Green Townhome Apartments, located in Pooler, Ga., are now Earthcraft House and Community certified, according to Trident Sustainability Group, the LEED consultant for the project.
Residents Moving into Fully Photovoltaic Apartments in San Diego
The first of four buildings in the 114-unit Solterra EcoLuxury Apartments has been completed, and residents are starting to move in. The first building of the fully photovoltaic property in the San Diego neighborhood of Scripps Ranch is now 80 percent leased, according to developer H.G. Fenton.
USGBC to Offer Free LEED Certification to Groundbreaking Projects in New Markets
In an effort to accelerate sustainable development around the world, the U.S. Green Building Council (USGBC), creators of the LEED green building program, announced a new campaign offering free LEED certification to the first projects to certify in the 112 countries where LEED has yet to take root.
Financing With ‘Hard Money’
Yes, rates are still higher than most banks, but the other terms that would let lenders take over the properties have gone away.
Market Dominating Makeovers
Successful repositioning spends the right amount in the right places.