Cities
JV Scores ’80s-Vintage Phoenix Apartments for $27M
L5 Investments, MLA Properties and BH Equities picked up the 360-unit Cielo Apartments and plan to invest $4.2 million in capital improvements.
Fundamentals Flourish in LA
Increased investor interest in the metro’s multifamily assets is driving property values to new highs, while keeping acquisition yields at nationwide lows.
Luxury SoCal Development Lands Management
The Trails at Canyon Crest, a 216-unit community, broke ground in October 2017. Construction is anticipated to finish early next year.
Marcus & Millichap Brokers Sale of FL Property
Fifth Avenue Courtyard is a 21-unit value-add community located in St. Petersburg. The buyer plans to upgrade the unit interiors.
Boston’s Pricing Power
Bruce Lusa, vice president of multifamily investment sales with Colliers International, discusses area trends and offers tips to investors targeting the city’s booming market.
Luxury San Antonio Community Changes Hands
The NRP Group has sold The Flats at Big Tex, a 336-unit property on the River Walk.
Houston Makes Buoyancy Its Brand
The metro’s multifamily market displayed a strong performance in the fourth quarter of 2017. As construction remains robust, rents are expected to rise by 2.3 percent in 2018.
Castle Lanterra Appoints New Managing Partner
Gila Cohen, who brings 20 years of commercial real estate and financial services experience to the team, previously served as a consultant, strategic advisor and private placement professional.
Miami Beach Condo Project Receives $137M Loan
Kasowitz Benson Torres’ Douglas Heitner, Erik Nygaard and Albert Delgado represented JDS Development Group in the transaction. Jerold Feuerstein of Kriss & Feuerstein worked on behalf of the borrower, Madison Realty Capital.
JV Starts Work on Miami Micro Apartments
Related Group and Block Capital Group broke ground on The Bradley, which includes 175 units ranging from 480 to 1,000 square feet.