Cities
Lincoln Ventures to Develop 236-Bed TX Community
The ADC loan for the 66-unit Austin student housing property, slated to open in 2019, marks the second financing deal closed by Highland Realty Capital and WPC Realty on behalf of the company in the past months.
CBRE Arranges $57M Financing for 837-Unit Portfolio
Bill Chiles, Scott Peterson and Brian Cruz of CBRE’s San Diego office worked on behalf of Strata Equity Group, which purchased three properties in North Carolina, South Carolina and Kentucky.
Boston Conversion Project Lands $160M in Financing
The Archer Residences at Beacon Hill is a redevelopment project of the former Suffolk University Law School buildings, set to bring 70 luxury condominiums to the Beacon Hill neighborhood.
San Diego Senior Housing Lands $82M Refi
Fannie Mae has provided its first Green Rewards loan for Paradise Village, a 394-unit Class A community in National City, Calif.
MIG Real Estate Buys Phoenix Community for $22M
Western Wealth Capital’s investors obtained an annualized return of more than 30 percent for the 216-unit Trails at Harris. The transaction represents the Canadian company’s 11th successful divestment to date.
Sales Brisk at Manhattan Development
Since the topping out of the first of three towers at the Waterline Square residential project in October, GID Development Group reports that the community represent the city’s fastest-selling new development by dollar volume and by the number of units sold in 2017.
360-Unit Luxury Development Breaks Ground in DC Area
The Sur in Arlington, Va., will comprise 360 high-end apartments, 16,000 square feet of retail and several shared amenities.
Iconic Cleveland Building Changes Hands for $40M
Institutional Property Advisors, a division of Marcus & Millichap, brokered the sale of the 295-unit Statler Arms. Michael Barron, Joshua Wintermute and Daniel Burkons represented the buyer.
Origin, Aegon Invest $71M in Denver
The 320-unit Advenir at Saddle Rock offers 20 four-bedroom units, a rarity for the area. To improve the 2002-built property, the new owners plan to invest sizable capital.
IN Affordable Senior Housing Lands $7M in Tax Credits
Historic Sullivan Lofts is slated to include 40 senior housing units and will provide free social services, including physical therapy, medication delivery and off-site transportation to residents 55 and older.