Cities
Top 10 Apartment Owners in Richmond
After lagging the nation for most of 2017, rent growth in the city started rebounding last December. Upscale demand is driven by large commitments made by tech companies in the area, bringing in new multifamily construction.
On the Market: 5 Interesting Listings for the Week of 4/2
This week’s listings include a historic luxury community in Iowa and a property near Lake Michigan’s southernmost point.
Gelt Buys 491-Unit Seattle Portfolio
The seller, FPA Multifamily, recently renovated interior and exterior amenities, including the clubhouse, the fitness center and the parking lot of both properties.
Integra Land Starts Work on Suburban Charlotte Apartments
The Flats at Edgewater in Indian Land, S.C., includes 289 units, a sports bar, a theater room and a dog park. It is expected to be completed in late 2019.
ABI Multifamily Brokers Sale of 110-Unit AZ Asset
A partnership between MJW Investments and Tide Equities plans to rebrand the recently renovated Tempe property, which comprises a total of 97,890 rentable square feet.
Hunt Mortgage Arranges $9M Loan in VA
Geller Associates acquired Lee’s Landing in Newport News and will improve the community in order to qualify for the Fannie Mae green rewards program.
Ability Housing Breaks Ground on Orlando Affordable Property
Village on Mercy includes 166 units and will be restricted to residents earning 60 percent or less of the area’s median income. Construction is expected to take 18 months.
Opus Group Begins Construction of Chicago Mixed-Use
The six-story project will comprise 164 units and 7,600 square feet of Class A retail space. Completion of the community is scheduled for spring 2019.
Greystone Earmarks $36M for AZ Apartments
Aldea at Estrella Falls, a 328-unit community in Goodyear, a suburb of Phoenix, includes grills, a fitness center and a heated pool.
Salt Lake City-Area Community Changes Hands for $32M
Buchanan Street Partners has acquired the 160-unit Pinnacle Fort Union property as a value-add investment.