Cities
Capital One Brokers $9M Loan for SC Community
The loan was used for the acquisition of The Terrace at Butler, a 132-unit property in Greenville. New York-based Ladder Capital provided the loan for Engel Realty Co.
Phoenix Community Changes Hands in $82M Deal
The new owner of Andante Apartments plans interior upgrades, as well as renovations of the clubhouse. The asset has an occupancy rate of 92.5 percent.
Lake Union Partners Acquires $23M MidTown Center
The company partnered with Forterra to develop the site and plans to include approximately 520 to 555 apartments. Approximately half of the units will be affordable.
Pure Snags $48M Phoenix Asset
The 264-unit Pinnacle at Union Hills previously traded in 2014, when TA Associates Realty acquired the Class A asset from JP Morgan Asset Management for $36.3 million.
Work to Begin on Sunny Isles Beach Condo Project
Developer Verzasca Group and the Aurora sales team are moving to a new location in order for demolition to begin on the existing sales center.
Richmond Development Scores $40M Construction Loan
Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.
Berkshire Group Nabs DTLA Luxury Apartments
This is the company’s second purchase in the Los Angeles market in the last year. The 266-unit community also features over 8,500 square feet of ground floor retail.
North Dallas 152-Unit Community Changes Hands
A Dallas-based partnership acquired Sienna Creek from Madera Residential. The buyer plans to rebrand the property and to implement a value-add strategy. The community is situated within the Richardson Independent School District.
Michelle Duncum Climbs the Ladder at FDG
The 25-year industry veteran was promoted to COO after almost four years at Faulkner Design Group. In her new role, Duncum will be responsible for managing the company’s daily operations.
Universe Holdings Starts LA Buying Spree
The company has added to its California portfolio with the $12.6 million acquisition of the 45-unit Villa Edgemont in Los Feliz.