Cities
On the Market: 5 Interesting Listings for the Week of 5/8
This week’s listings include a Phoenix garden-style community for $1 million and a well-designed urban property in Portland.
Pacific Urban Snags $30M San Diego-Area Asset
Located in Oceanside, Calif., the 136-unit community features 11 two-story buildings. The property also has a condo map and units could be sold individually.
Will San Jose’s New Rules Hobble Its Market?
Former Mayor Chuck Reed contends that the city’s restrictive new eviction regulations are discouraging development of badly needed new multifamily inventory.
Historic B’more Apartments Change Hands
Frederick Douglass Apartments is a 99-unit multifamily property in Baltimore that includes two commercial units. Marcus & Millichap closed the $6.3 million deal.
Westmount Welcomes New Director
Kevin Michels has 14 years of experience in commercial real estate with a primary focus on asset analysis and evaluation. In his new position, he will provide analysis of Westmount’s multifamily portfolio.
Condo Development on Biscayne Bay Nearly Complete
The Miami property was developed jointly by South Florida-based developer Two Roads Development and GTIS Partners, a global real estate investment firm headquartered in New York.
Castle Lanterra Adds to TX Portfolio
A joint venture between Greystar and The Carlyle Group sold Agave, a 349-unit Class A community near the CBD of San Antonio.
Inland Empire Apartments Sell in 1031 Exchange
A family trust purchased the property, which has high value-add potential, in a 1031 exchange, a transaction that multifamily investors have increasingly executed in the Inland Empire, which has a limited inventory of apartment communities for sale.
CA Senior Living Breaks Ground in AZ
The $25 million Quail Park in Oro Valley includes 101 units, with a portion dedicated to assisted living, and the $32 million Quail Park at Morrison Ranch includes 83 assisted living units and 32 memory care suites.
Affordable Housing to Rise on Former NY Slaughterhouse Site
NYCEDC and HPD released plans to transform a 24,687-square-foot historic site in the far west side of Manhattan, once home of New York Butchers’ Dressed Meat Co., into a mixed-use project that will include 234 affordable units, a grocery store, dormitory space, and more.