Cities
Austin Multifamily Report – Summer 2019
Despite the more than 23,000 units underway in the metro as of April, developers are struggling to keep up with soaring demand.
Daniel Corp. Develops, Sells in South Austin
The company—which teamed up with CNL to construct the new project, located off William Cannon Drive and adjacent to McKinney Falls State Park—sold a 13-building community to Bell Partners.
Atlanta-Area Luxury Senior Facility to Welcome Residents
The assisted living and memory care community is the first joint development project of Watercrest Senior Living Group and Waypoint Residential.
Greystone Arranges Fannie Mae Loan for TX Asset
The Green Rewards refinancing loan, which carries a 10-year term, is estimated to reduce the property’s utility usage by 30 percent.
Time Equities Adds Community to Grand Rapids Skyline
The 16-story tower is the result of a joint effort between contractor Pioneer Construction, property manager KMG Prestige as well as architecture firm Ghafari Associates.
Tampa-Area Community Commands $39M
MLG Capital acquired the 350-unit multifamily property northeast of downtown Clearwater, Fla., assuming more than $28 million in Fannie Mae financing from the seller.
Ashcroft Capital Buys 548-Unit Community
The buyer financed the acquisition of MacArthur Place at 183 with a $42 million loan from Voya Financial. The community last traded in 2014 as part of a five-property portfolio.
CDT Forms JV to Buy 452-Unit Asset for $70M
The Bridge at Asher Apartments acquisition is the company’s fourth investment with the Housing Authority of the City of Austin and its nonprofit affiliate, the Austin Affordable Housing Corp.
Waterton Re-Enters Vegas With $140M Buy
The firm’s portfolio acquisition includes 720 Class A units in two communities. CBRE provided the buyer with financing through Freddie Mac.
Vegas Senior Living Community Trades for $19M
CBRE provided the buyer, ConAm Group, with acquisition financing for the purchase of the 113-unit, Class B asset located in Henderson.