Cities
29th Street Capital Buys Vegas Apartments
The company, which has purchased 15 multifamily properties over the past 12 months, also revealed plans to implement a $1.9 million capital improvement program to refurbish unit interiors, enhance the asset’s exterior and upgrade the amenity package.
ROSS Promotes Billy Edwards to CFO
In his new role, Edwards will oversee the company’s accounting, finance, reporting and tax compliance functions, maximizing returns on investment and management assignments.
Portland on the Park Welcomes First Residents in Phoenix
Habitat Metro and Sunbelt Holdings developed the project, which is already 72 percent sold. The property is the second and final phase of the Portland Place mixed-use development.
Robbins Electra Snaps Up Charlotte Community
Pavilion Crossing, which will be rebranded as Grand Reserve at Pavilion, includes 408 units. The property is currently 95 percent occupied.
Minneapolis Community Receives $13M Refi
Dougherty secured a 35-year term loan for the refinance of a Minneapolis community. The company plans a $3.4 million upgrade of the property as part of the transaction.
Dougherty Secures $14M HUD Loan for Minneapolis Community
The company secured a 35-year term loan for Prairie Meadows Townhomes, a community located in Eden Prairie, Minn. The property consists of 168 fully affordable units.
Marcus & Millichap Leads Sale of Dupont Apartments
The four-unit property sold for $2.3 million to a Washington, D.C., condo developer. Marcus & Millichap represented the seller, a private investor.
NC Community Changes Hands for $21M
Represented by Colliers International, CORE Realty Holdings Management sold the 483-unit Hidden Lakes Apartments to Living Well Homes. Built in 1974, the property provides a value-add opportunity for the buyer.
Bascom Group Buys South Bay Community
The company plans to revitalize the 64-unit infill community in Torrance, Calif. This is the firm’s 37th multifamily property in Los Angeles County.
Melo Group Tops Off Miami Condos
The waterfront development is situated along Biscayne Bay in the Arts and Entertainment District. Of Aria on the Bay’s 648 units, 80 percent are already under contract.