Cities
Economic Growth Pushes Up Demand in Raleigh
The area’s multifamily market had a healthy run in 2017. Favorable living and wage conditions lure many local graduates to remain within the region, expanding the Research Triangle’s economy and fueling rental demand.
TMG Brokers Sale of OC Community
The Landing, a 52-unit community in Newport Beach, Calif. changed hands for $18.5 million or $355,769 per unit. The Mogharebi Group worked on behalf of both parties.
HFF Arranges $32M in Financing for NC Community
Senior Managing Director Travis Anderson and Senior Directors Cory Fowler and Roger Edwards worked on behalf of the developer, Leon Capital Group.
San Francisco Condo Development Site Trades for Nearly $30M
The new owner plans to develop a tower containing 220 condominium units above approximately 7,000 square feet of street retail.
Cypress Real Estate Buys Development Site in TX
The company purchased the 3.8-acre site in Dallas, for the development of a four-story apartment community. Transwestern represented the seller and the buyer.
Lee & Associates Arranges SoCal Sale
In a tax-deferred transaction, SOMA Realty sold a 16-unit multifamily asset in Pasadena, Calif. Principal George Yessaie represented the buyer.
MORGAN Debuts Miami Luxury Tower
The 20-story Midtown 29 comprises 309 units, more than 12,000 square feet of ground-floor retail and an adjacent six-level parking garage.
Banner Refinances 224-Unit NC Property
The 224-unit Lincoln Apartments, located near Raleigh’s city center, was completed in late 2015 and was 92 percent occupied as of January.
Former MA Campus Building to Become Memory Care Facility
Benchmark Senior Living is developing the adaptive reuse and extension of a former Andover Newton Theological School campus building. The new memory care facility will incorporate 50 units.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for January 2018 in New York City.