Cities
Rents Moderate in the San Francisco Bay
Rates have reached a point where even highly paid workers can’t afford the premium prices, despite the metro’s consistent job expansion, robust resident demand and high home prices.
MHN’s Top 5 July 2017 Articles
Miss out on any MHN stories in July? Here are five of our most popular articles for the month, including the top 10 apartment owners in Atlanta and design trends and products from NAA’s Education Conference & Exposition.
St. Paul Eyes 135-Acre Urban Village
A rezoning plan calls for as many as 4,000 residential units on a site owned by Ford, which is expected to be put on the market by early 2018.
Gainesville Community Trades for $22M
Audubon Communities purchased a 292-unit residential asset that will operate as Peaks at Gainesville. The company also revealed an almost $3 million refurbishment plan.
CBRE Facilitates $33M Sale of Phoenix-Area Community
Rivendell Global Real Estate acquired the 208-unit asset in Mountain Park Ranch, a master-planned community that provides access to an array of Mountain Park Ranch HOA amenities, including tennis courts, swimming pools and parks.
East Dallas Townhomes Lands Construction Loan
AHC Funds secured $11.4 million for the first development stage of a 125-unit community in Dallas. Metropolitan Capital Advisors’ Justin Laub negotiated the financing on behalf of the borrower.
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.
Demand Outpaces Supply in Salt Lake City
Driven by robust population growth and low unemployment, Utah’s largest city is rapidly expanding, generating healthy housing demand. It continues to appeal to major employers, such as Amazon, UPS and big-brand companies based along the Wasatch Front.
Affordable NJ Community Changes Hands
The new owner acquired Berkeley Terrace for a price tag of $12.2 million and plans to invest in extensive renovations. The project is slated for completion by August 2018.
PAC Snags Tampa-Area Luxury Property
The purchase of the newly built 280-unit community was financed through a first mortgage loan from Fannie Mae, originated by Berkadia Commercial Mortgage LLC.