Cities
TODAY’S DEALS: Vornado Refinances Massive D.C. Asset
Vornado completes a $308 million refinance; Lowe Enterprises and First Capital Advisors acquire Silk Factory Lofts; and Greysteel arranges a 120-unit sale in Texas.
Crescent Communities Introducing Luxury Apartment Living to Tampa’s Westshore Business District
Ground has broken for a new 374-unit luxury apartment community on 5.3 acres in Tampa’s Westshore area.
Oakwood Worldwide Acquires Luxurious Redwood City Apartments for Global Portfolio
Oakwood Worldwide added a 141-unit apartment community in Redwood City, Calif., to its global portfolio through its $4 billion partnership with Singapore-based Mapletree Group.
TODAY’S DEALS: ASB Acquires Class A Seattle Apartments for $90M
ASB Real Estate Investments announced the acquisition of buildings in the burgeoning Capitol Hill neighborhood; a newly built California asset trades for $84 million; and ARA Newmark closes two suburban Atlanta sales.
TODAY’S DEALS: Bascom, Oaktree Close Seventh Acquisition with Nevada Buy
Bascom bets on a recovering Las Vegas market; Milestone Apartments REIT grabs 303 units in Orlando; and Mortgage Equicap arranges a construction loan for an 80-unit building.
TODAY’S DEALS: Kushner Cos. Acquires New York Walk-Up Portfolio for $131.5M
Kushner Companies closes on the acquisition of a 16-building, 291-unit portfolio of Manhattan and Brooklyn multifamily walk-up properties; and HFF secures financing for a property near the University of Houston.
New Partnership Investing $20M in Affordable Housing in California
The Community Development Trust, a national private real estate investment trust, has announced a partnership with TIAA-CREF, a national financial services organization, to invest in affordable housing in California.
TODAY’S DEALS: Greystar Adds Boston Area Asset to Portfolio
CBRE/New England brokers a sale outside Boston; NGKF provides AION Partners with Florida financing; and a joint venture between Bascom and Oaktree buys an apartment community in Nevada.
Brian Kelley: Investcorp’s Acquisition Strategy
Investcorp, a Bahrain-listed alternative investment fund, has recently expanded its U.S. residential portfolio with the acquisition of four properties in the metropolitan areas of Washington, D.C., Orlando, San Diego and Baltimore. The purchase price was approximately $300 million.
Pittsburgh Prepares for Civic Arena Redevelopment
City, county and state dignitaries marked the official construction start of the road and utility work at the site of the now-demolished Civic Arena in the city’s Lower Hill District.