Cities
San Fernando Valley Apartments Sell for $42M
Ambrus Co. sold a 207-unit, three-property apartment portfolio to Lion Real Estate Group. The acquisition was sourced off-market from a Los Angeles-based private investor who developed the assets 40 years ago.
Capital One Closes Freddie Mac Loan for SoCal Property
The $9.5 million loan will be used to refinance Midway Meadows, a 92-unit apartment community in Orange County’s Midway City.
Apartment Investment Advisers Brokers Sale of Vintage Community
The sale of the 67-unit mid-rise apartment building located within the city’s Uptown neighborhood closed at $8.3 million. The new owner plans to transform the vintage apartments into luxury units.
Luxury Community Opens on Philly’s Main Line
The 36-acre site where the luxury apartment community is located also features a 20,000-square-foot historic mansion built in 1881, which will be updated with modern amenities.
DC-Area Communities Receive $65M in Financing
HFF helped secure financing for four properties in the Washington, D.C., area. The apartment communities are situated just 30 minutes from downtown and total 920 units.
Northland Expands Its FL Portfolio
The company purchased Element, a 395-unit residential tower in downtown Tampa. The property marks Northland’s fifth purchase within the last five months.
Downtown Miami Condo Market Is Finding Its Footing
After experiencing several ups and downs, the city is becoming an attractive place for investors. For the first time since 2012, the condo pipeline has more units completed than under construction.
NRP Group Launches Third-Party Construction Unit
NRP Construction will be involved in residential construction projects in Texas. The company’s specialty is design-assist and design-build.
Broad-Based Employment Fuels Demand in Indianapolis
Indianapolis is among the nation’s top cities for finding and maintaining a job, as evidenced in a new study compiled by job search website Glassdoor.
Meridian Arranges Loan for MI Luxury Property
The 10-year fixed-rate CMBS financing was secured on behalf of The Harrison, a community located in Royal Oak, Mich.