Cities
Stamford Community Commands $67M
TH Real Estate sold The Wescott Apartments in Stamford, Conn., to a New Jersey-based investor, while Pensam Residential and Freddie Mac provided a preferred equity investment to facilitate the acquisition.
Meridian Sells 2 Brooklyn Apartment Buildings
The East Flatbush Portfolio, comprising two elevator buildings, has been sold for $26.5 million. The corner location and up-to-date condition of the properties require no additional maintenance.
Tower at One Greenway Changes Hands
Located in downtown Boston, the 217-unit residential community was acquired by PGIM Real Estate. Tower at One Greenway is LEED-certified, offering more than 3,000 square feet of ground-floor retail space.
Woodmont Breaks Ground on Luxury NJ Community
Woodmont Bay Club Bayonne will comprise 220 units spanning four acres. Construction is slated for completion in the spring of 2019.
JV Acquires 280-Unit Chicago Property
CIM Group and Golub & Co. snagged Chestnut Place, a 30-story building with ground-floor retail in the Gold Coast neighborhood.
Vitus Revamps Miami Affordable Housing
After purchasing Hadley Gardens earlier this year, Vitus recently completed the $5.4 million renovation of the five-story building.
Westmount Realty Capital Hooks Houston’s Copper Mill
Renovations are planned for the 34-year-old garden-style community, which is currently 98 percent occupied.
Orlando Asset Lands $54M Financing
CBRE negotiated the loan on behalf of Unicorp National Developments Inc. for a 346-unit multifamily community in Windermere, Fla.
DFW Market-Rate Community Lands Refi
SevenSeas Holdings II closed a $6.8 million loan for the refinancing of Avanti on Central in Bedford, Texas. Dougherty Mortgage and Old Capital Lending negotiated the Fannie Mae loan on behalf of the borrower.
Cleveland-Area Community Lands $25M Fannie Mae Loan
Located in Willowick, Ohio, Shoregate Towers features 404 units. Dougherty’s Minneapolis office arranged the 15-year loan with a 30-year amortization schedule.