Cities
Michigan Ave. Tower Scores $150M Refi
MILA, an upscale 402-unit property in Chicago’s East Loop, was developed by a joint venture led by John Buck Co. Proceeds will refinance the construction loan.
CBRE Closes Inland Empire Sale
Evart Street Apartments in Montclair, Calif., changed hands for $8.9 million, one of the highest per-square-foot prices for a multifamily property in the area, according to the brokers.
Lena New Boston Breaks Ground on 41 Mixed-Income Units
The $200 million redevelopment of the former Boston State Hospital site entered a new phase, which will include 22 affordable units. The project is part of Olmsted Green, a 42-acre development in the heart of the city.
Phillips Realty Secures $31M Financing for PA Project
The company worked on behalf of Woodfield Investments, the developer of the 320-unit Woodfield at Valley Forge in suburban Philadelphia. The asset will be part of of the Village at Valley Forge, a 122-acre mixed-use lifestyle property.
Walker & Dunlop Arranges $86M for Portfolio Upgrade
The financing will support the renovation of 1,208 units in Florida and Texas, as well as enable the borrowers to recapitalize the assets and handle deferred maintenance.
CBRE Secures $35M Financing for Tampa Student Housing
Horizon Realty Advisors purchased a 206-unit student housing property for $46.6 million. Benjamin Roelke of CBRE secured the long-term financing for the acquisition of Venue at North Campus.
LA Senior Communities Receive $19M Mortgage Financing
The funding, obtained through the company’s bond purchase program, will be used for the acquisition, rehabilitation and permanent financing of three affordable developments.
Leasing Starts at Murray Hill Marquis Luxury Apartments
The former boutique hotel is being converted into 260 modern no-fee studio and one-bedroom apartments, with rents ranging from $2,575 to $3,450 per month.
Balfour Beatty to Develop Student Housing Project in Texas
Texas Woman’s University’s project will house up to 875 students and will feature approximately 30,000 square feet of dining space, beside classrooms, fitness center, exploratory learning and recreation space.
Greystone Scores $36M for DE Deal
The company worked with Fannie Mae and New York Mortgage Trust Inc. to secure financing for Concordia Properties, which purchased Autumn Park, a 360-unit community.