Cities
JLL-Backed REIT Pays $75M in Portland
The company has acquired Jory Trail at the Grove, a 324-unit apartment community in Wilsonville. The property is currently 95 percent leased.
Greystone Enters Michigan Market with New JV
The new joint venture with Commercial Property Advisors will focus on providing multifamily advisory services for clients in Michigan. Cary Belovicz will lead the new organization as an executive managing director.
Security Properties Acquires 2 Portland Assets
Security Properties acquired two properties totaling 228 units located near downtown Portland. The company plans to implement a renovation plan for The Commons in order to preserve the long-term affordability of the building.
Marcus & Millichap Facilitates $30M Sale of Affordable FL Asset
Evan Kristol and Felipe Echarte, first vice presidents of investment, represented the seller, a New York-based investment group, and procured the buyer for Cabana Club Apartments, a 332-unit community for seniors in Miami-Dade County.
Wood Partners Breaks Ground on 298-Unit Development
The developer is building a community in Chapel Hill, N.C., with leasing expected to begin next summer. Alta Blu will include 5,000 square feet of office space.
Carrfour Secures Grant to House Homeless Vets
The not-for-profit affordable housing developer received the financing from The Home Depot Foundation’s Veteran Housing Grants Program to fund Liberty Village in Miami’s Liberty City neighborhood.
Historic DTLA Mixed-Use Scores $32M Refi
Quantum Capital Partners secured the 10-year interest-only, non-recourse loan for the Metropolitan. The adaptive reuse offers 88 high-end loft units and 45,000 square feet of retail space.
Tech Scene Stays Hot, Rent Growth Cools in San Jose
Silicon Valley is the nation’s largest tech hub, a top-performing venture capital market and one of the most prominent locations for startups.
CBRE Global Investors Fund Lands $51M Denver-Area Asset
Viridian at the Gardens on Havana is a 227-unit property located in Aurora. ARA Newmark worked on behalf of AIG Global Real Estate and Post Investment Group, partners in trading the recently constructed Class A community.
Walker & Dunlop Originates $34M Loan for CA Affordable Asset
The loan will be used to finance Campus Oaks Phase I, an affordable community in suburban Sacramento. Walker & Dunlop worked on behalf of The Canel Cos.