Cities
Bascom Expands CA Footprint With $17M Buy
Casanova Grove is a 76-unit community located in Monterey.
How Mission Lenders Fueled Motor City’s Comeback
After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.
JV Secures $130M Senior Loan for Minneapolis Condos
Provident Real Estate Ventures and Shamrock Properties Inc. will develop The Legacy, a 374‐unit property that will include an eight‐story podium with a 14‐story and a 17‐story tower, along with three levels of subterranean parking.
Boston Affordable Housing Gets $14M Renovation
LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.
Bellwether Enterprise Closes $51M Refi
The company arranged the refinancing of Alley 111, a 12-story apartment building offering a mix of studios, one- and two-bedroom units, along with 4,000 square feet of retail space.
HFF Arranges Sale, Financing of Metro Houston Apartments
Hilltop Residential is the new owner of Villages of Cypress Creek, a 384-unit, Class A community in the city’s northwest suburb of Cypress, Texas.
CIM Group Reaches Construction Milestone in DTLA
888 S. Hope—a 34-story apartment tower featuring 525 units, 6,000 square feet of ground-floor retail space and a public pocket park—is scheduled for delivery in mid-2018.
SunCap Property Breaks Ground on NC High-End Community
The four-story, 47-unit community will offer two-and three-bedroom apartments with rental rates estimated to start at $3,400 per month. The property marks SunCap’s first multifamily development in Charlotte.
Peak Campus Selected to Manage Texas Student Housing
The 348-bed, 183-unit community is currently under construction in San Marcos. Upon completion, slated for fall 2018, the property will serve Texas State University.
Sagora Senior Living Breaks Ground on First CA Community
The 14-acre campus will feature independent living, assisted living and memory care apartments. The Rocklin, Calif., asset will be the company’s 29th retirement community.