Cities
BEMT Invests in 24-Story Mixed-Use Luxury Rental Community
Bluerock Enhanced Multifamily Trust has recently announced its investment in MDA City Apartments, a mixed-use luxury rental community in downtown Chicago. The New York-based non-traded real estate investment trust has partnered with Village Green, the owner of the 24-story building. Village Green is an owner / operator with a portfolio of around 40,000 units in 13 states.
Mill Creek Residential Announces New Glendale Luxury Apartment Community
Located at 610, N, Central Avenue, the site will be the home of a new, six-story, mid-rise, high-end apartment structure, one of the first properties of its kind for the developer. Resident amenities will include an underground parking facility, a resort-style pool and spa, an around-the-clock fitness center and yoga facility, a resident clubroom featuring a kitchen and business center, as well as two rooftop decks offering views of the nearby Verdugo Mountains.
ST Residential LLC Puts 326-unit Lex up for Sale
Chicago-based ST Residential LLC has hired brokers Holliday Fenoglio Fowler and Eastdil Secured to manage the sale of a 13-property portfolio, with an estimated value of close to $1 billion.
Health Care REIT Expands Portfolio
Ohio-based Health Care REIT Inc. has acquired a 192-unit senior housing development in Lake Barrington for $81.7 million from a joint venture between Senior Lifestyle Corp. and Walton Street Capital LLC,
Owners Looking to Charge Premiums for Bay Area Residential Complexes
By Alex Girda, Associate Editor San Francisco is living its own private residential boom, and investors are looking to cash in on the demand for mid-Market residences. The San Francisco Business Times reports that apartment developer Archstone is currently looking to offload one of its larger Bay Area properties in the hopes of getting a […]
Construction Begins on Oak Lawn Luxury Apartment Community
Addison-based Behringer Harvard has begun construction on a new luxury apartment community in the Oak Lawn/Uptown submarket of Dallas, at the intersection of Maple and Oak Lawn avenues. Trammell Crow Residential, the developer of the apartment community, partnered with Behringer Harvard on the acquisition.
Booming Residential Markets Ignite Portland, Seattle Multifamily Sales
By Alex Girda, Associate Editor Two residential properties recently traded hands in the Pacific Northwest, totaling $88 million and intensifying speculation that Seattle and Portland are both about to experience apartment booms. An improving business environment spurred by corporate residents such as Microsoft Corp. and Amazon.com combined with the larger notoriety major cities such as […]
Investcorp Affiliate to Acquire Durham Office Portfolio for $48.4M
by Adriana Pop, Associate Editor American Real Estate Partners of Herndon, Va. recently sold three class A office buildings at Keystone Park in Durham for $48.4 million. According to CityBizList Charlotte Raleigh, an affiliate of Investcorp of New York purchased the 285,874-square-foot portfolio at 430 Davis Drive, 530 Davis Drive and 630 Davis Drive. Paul […]
Chicago-based REIT Acquires 235-Bed Student Housing Property in St. Paul
By Gabriel Circiog, Associate Editor Chicago-based real estate investment firm Harrison Street Real Estate Capital has closed on a 235-bed student housing property dubbed Stadium Village Flats, the Minneapolis / St. Paul Business Journal reports. Situated at the University of Minnesota in St. Paul, the Stadium Village Flats were sold by the Opus Group. The […]
Forest City Enterprises Plans to Sell Remaining Land Holding in Central Station Development
By Gabriel Circiog, Associate Editor Cleveland-based Forest City Enterprises Inc. has signed a letter of intent to sell its remaining land holdings in the Central Station development, ChicagoRealEstateDaily.com reports. Located in the South Loop, the large-scale residential project has managed to transform the neighborhood before being hit by the condo crash. The developer has decided […]