Cities
Suburban Chicago Community Receives $33M Refi
The loan will help stabilize Apex 41, a luxury community in Lombard, Ill. GlenStar Properties completed the 181-unit asset two years ago.
OpenPath Investments Acquires 250-Unit Dallas Community
The new owner intends to invest in improvements at the 2000-built Greens of Hickory Trail. Income restrictions at the 250-unit community will phase out by 2021.
Preparing for the Next Generation: A Look at Gen Z
Generation Z is about to flood the apartment market, so it’s important to be aware of its general attributes and preferences, explained Kate Good on a panel at NAA’s Apartmentalize in Denver.
The Annex Group Begins Work on Affordable Development in Indiana
Together with T&H Investment Properties, the company broke ground on Union at Washington, a 51-unit community reserved for low-income residents in Kokomo.
NRP Group Breaks Ground on Cleveland Affordable Housing Project
Residences at Cornerstone will bring 76 units to the Euclid-Green neighborhood. The development is part of a mixed-age community that includes Cornerstone Senior Apartments.
Tampa Community Trades for $44M
The 400-unit multifamily property sits on 25 acres in the Town ‘N’ Country neighborhood. Berkadia negotiated the deal on behalf of the seller and procured the buyer.
RK Properties Buys North Carolina Apartments
The purchase of Bainbridge Lake Crabtree in Morrisville represents the company’s second acquisition in the metro over the past two months.
WashREIT Wraps Up $461M Portfolio Buy
The REIT has closed on the $82 million purchase of two communities in the suburbs of Washington, D.C., totaling 428 units. The deal is the second tranche of a larger seven-property transaction.
Oakland Community Trades in All-Cash Sale
NAI Northern California represented the seller and secured the buyer in the 1031 transaction of the 44-unit Vermont Apartments located near Interstate 580.
NAREE Report: Apartments Needed to Meet Demand
With Gen Z looming behind the huge Millennial population, millions more apartments are needed over the next decade to meet a growing need.