Cities
LeFrak Completes $70M Reno of Queens Community
The firm’s five-year capital improvement program has come to an end, bringing the 4,600-unit, 20-building LeFrak City community to a new level with a series of infrastructure and amenity upgrades.
Berkadia Completes $35M Sale in SoCal
Metro 102 Apartments, an affordable apartment community in Ontario recently changed hands for $35 million. The purchase was capitalized primarily with foreign investment money.
Two Roads Development Taps Director of Sales for Miami Tower
Sandra Masis will be the link between Elysee’s developers and Cervera’s in-house sales team. Condo prices at the tower range from $1.5 million to upwards of $10 million.
Portland Community Lands $14.5M Refi
The Altoma Real Estate Advisors were responsible for arranging the mortgage services for Tess O’Brien Apartments. The borrower was backed by key principal Martin Kehoe.
Citymark Acquires 274-Unit Phoenix Asset
West Town Court is located near numerous employers, retail establishments and entertainment centers. Built in 2009, the community comprises one-, two- and three-bedroom residences.
Legacy Partners Kicks Off LA-Area Marina Renovations
The company started the $65 million revamping of the 379-unit Wayfarer Apartments + Marina at the beginning of 2016. The current phase is slated for completion by early 2019.
Developer Secures $17M Tranche for Waterfront Miami Tower
Vertical construction of the 57-floor condo building is set to begin in the first quarter of 2018, with completion estimated for 2019.
Charlotte Teems With Demand Drivers
Employment growth made the city an attractive target for new and expanding businesses, while supporting long-term multifamily demand. Following last year’s cycle high in deliveries, some 6,800 units are slated for completion in 2017.
McDowell Acquires DC-Area Apartment Community
CBRE brokered the sale of Carmel Alexandria, a Class A apartment community in Alexandria, Va. The property is situated near interstates 395 and 495, with downtown Washington, D.C. only 10 minutes away.
Colliers Facilitates FL Affordable Housing Deal
Colliers Senior Vice President Kevin Morris and Senior Broker Associate Michael Lewin worked on behalf of 1031 exchange buyer Steve Schneider. Palm Lakes Trailer Park, a 120-unit mobile home property in Miami, traded for $6.3 million.