Cities
LA Community Changes Hands for $24M
Lion Real Estate Group purchased the 100-unit asset in 2015 for $15.5 million and sold it after renovating more than half of the property.
Blackstone Buys New Raleigh Apartments for $41M
Davis Development broke ground in 2017 on the 202-unit community and delivered it earlier this year, with the help of $38 million in construction financing.
Rehab Complete on 90-Year-Old LA Units
Community Preservation Partners spent $11.9 million on The Curtis Johnson Apartments, a six-building portfolio in the Vermont Harbor neighborhood that the company renovated.
Calvera Partners Expands Value-Add Portfolio
The company has acquired a vintage property in Alameda, Calif. The acquisition is part of its strategic investment plan to reposition old buildings.
Condo Prices Tick Up in Downtown Miami
Americans are buying more condos as foreign capital eases back, while multifamily developers rush to meet rental demand, according to a new report by the Miami Downtown Development Authority.
Jacksonville Community Trades for $56M
Harbor Group International sold the 440-unit multifamily property. Walker & Dunlop originated a $41.4 million Freddie Mac loan for the new owner.
San Diego Mixed-Use Community Lands $21M Refi
The proceeds of the 10-year, fixed-rate commercial financing arranged by HFF will be used to refinance an existing construction loan for The Californian, a luxury property in the city’s Point Loma suburb.
Work Starts on 103-Unit NJ Affordable Project
Volunteers of America Delaware Valley is building the community, Centerton Village, in the township of Mount Laurel. Funded in part by NJHMFA, the project is slated for completion in May 2020.
Miami Multifamily Report – Spring 2019
Solid economic fundamentals and population gains continue to fuel the metro’s apartment market. Some 13,300 units were delivered last year and more than 26,000 were underway as of February.
AKAM to Manage Metro Miami Luxury Property
The 113-unit condominium development is the newest residential construction built inside the Boca West Country Club in more than 15 years.