Cities
Boston Project Transforms 4 Sites into Affordable Housing
Codman Square Neighborhood Development Corp.’s $20 million Dorchester initiative includes 44 units in four buildings, two of which were constructed by NEI.
LMC Tops Off Minneapolis Community
After topping off a mixed-use community in Dallas last month, LMC topped off NordHaus, a luxury mixed-use community located in the heart of Northeast Minneapolis. NordHaus is a 20-story community that features 280 apartments, including 12 penthouses, and 22,000 square feet of ground-floor retail and restaurant space. Residents will have access to amenities such as an expansive club room with kitchen, state-of-the-art fitness center, outdoor, resort-level pool deck, cyber café with conference room and rooftop theatre. Additionally, NordHaus features a pet park with pet washing area, a video game room and bike lounges. Located at 315 NE First Ave., the property…
Western Wealth Snags Phoenix Community
The company paid $13.4 million to acquire Tierra Santa, a 274-unit property at 4620 W. McDowell Road. ARA Newmark brokered the transaction, which was subject to a $10 million loan originated by Walker and Dunlop.
Continental Sheds 4 in Baltimore
Arranged by Transwestern, the sales include a pair of communities acquired by Schweb Partners and two purchased by Kindred Property Group.
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.