Cities
Tech, Finance Sectors Revive Growth in Chicago
The city remains a financial powerhouse and continues to add high-paying jobs, helping rent growth achieve a slight recovery.
Trion Properties Acquires 3 OR Communities
The properties in the transaction include Center Square, Menlo Square and Maple Tree, totaling 174 units. Trion plans to complete strategic value-add upgrades at the communities.
South FL Condo Project Lands $17M Loan
The proceeds of the mortgage will finance construction of the luxury community. Site work is underway, with the property scheduled to open by the end of 2018.
Hunt Mortgage Arranges 2 Seattle-Area Freddie Mac Refis
Cedar Gardens Apartments in Federal Way includes 49 units, while Birch Crest Apartments in Tukwila comprises 37 apartments. Both borrowers were local real estate owners.
Castle Lanterra Buys 4th CO Community
The Ranch at Bear Creek in Lakewood, 20 minutes from downtown Denver, features 201 units. Amenities include an updated clubhouse, two swimming pools and a fitness center.
Drucker + Falk Manages $1M Renovation in Newport News, VA
Already finished renovations include a new clubhouse, overhauled swimming pool and new features to the outdoor areas. In-unit upgrades are currently underway.
Healthy Demographics Push Up Demand in Austin
The metro’s multifamily demand is expected to remain strong, sustained by an estimated population growth of 2.8 percent in 2018.
IPA Facilitates $65M Phoenix-Area Transaction
Eaton Vance Investment Managers purchased the 303-unit Chandler property, which includes a volleyball court, two swimming pools and 458 parking spaces.
Industry Veteran Joins ARA Newmark in Portland
Lydia Thompson has more than 23 years of industry experience. As the company’s new senior managing director, she will be responsible for originating and managing regional multifamily sales.
ARA Newmark Gets Senior Managing Director in Austin Office
Matthew Day has more than 16 years of commercial real estate experience. In his new role he will oversee the company’s multifamily investments across Central Texas.