Cities
Warmington Properties Secures $190M for Portfolio Refi
Walker & Dunlop Inc. structured five Freddie Mac loans and one Fannie Mae loan, totaling $190.2 million, with 10-year terms and 30-year amortization schedules, to refinance nine California and Nevada communities held by Warmington Properties. Warmington began a value-added program across its portfolio in 2014, including the complete renovation of property amenities, building exteriors and unit interiors.
Greysteel Tapped Exclusive Advisor, Sale Agent for D.C. Community
The company’s Managing Director Kyle Tangney and Investment Associate Herbert Schwat will be responsible for marketing the 24-unit residential asset. According to public records, the property last traded for almost $1.4 million back in 2012.
Baltimore Affordable Community Reopens After $27M Rehab
Enterprise Homes, HUD and other stakeholders teamed up on an extensive makeover of The Allendale, a 164-unit West Baltimore property serving seniors and disabled adults.
Monument Capital Management Nabs Tucson Community
The newly acquired asset will add 272 units to the company’s portfolio. The new owner is planning to implement value-add improvements.
Habitat Assumes Management of Chicago Communities
The properties include Reserve at Evanston, a four-story building with 193 residences, and 640 North Wells, a new 250-unit rental tower in Chicago’s River North neighborhood.
Nitya Capital Acquires Vintage Community in Westchase District
The transaction increases Nitya Capital’s Texas portfolio to more than 9,000 units and $710 million worth of assets under management.
Berkadia Closes Largest San Diego Apartment Transaction
American Assets Trust acquired Pacific Ridge, a $232 million luxury community that includes 533 units and is 95 percent occupied.
Cortland Partners Continues Unique Business Model
The company is creating new positions that are not typically found in the multifamily industry, demonstrating the firm’s unique approach to ownership and management of multifamily real estate.
San Francisco’s Top 10 Apartment Owners
Based on Yardi Matrix data, the list includes properties in all stages of development at a time when apartment construction in the city is at a 75-year high.
Hines, McCaffery Break Ground in Chicago
A new mixed-use building anchoring the Lincoln Park neighborhood is set to rise on the former Children’s Memorial Hospital site.