Cities
Hunt Real Estate Secures $23M for Phoenix-Area 1031 Exchange
The 224-unit Canyon Woods and the 148-unit Shadow Rose are both slated for upgrades, with ownership set to invest roughly $3.5 million in improvements.
NYC Details $24B Public Housing Upgrade
Transfer to Preserve is among several programs launched by Mayor Bill de Blasio’s administration to raise capital for repairs at the city’s NYCHA sites.
Miami Community Secures $142M in Financing
Square Station, a 710-unit downtown asset developed by Melo Group in Miami, launched leasing in June and is now 95 percent occupied.
Opus Breaks Ground in Downtown Minneapolis
The six-story building is the company’s third residential development in downtown Minneapolis and its eighth in Minnesota. The community is expected to be delivered in 2020.
Brooklyn Community Secures $113M Refi
Goldman Sachs originated the new loan, which pays down a previous $120 million construction mortgage for the 2016-built luxury property.
Job Gains Keep Absorption Steady in Richmond
Healthy absorption of new stock and job growth continue to boost the metro’s multifamily market, despite the area’s sluggish economy.
Chicago’s West Loop to Gain 2-Tower Community
A joint venture of Lendlease, The John Buck Co. and Intercontinental Real Estate Corp. broke ground on a 586-unit community on the former site of skin care manufacturer H2O Plus.
$125M Loan Awarded to NYC Luxury Building
Germany-based commercial bank Helaba provided the loan package to Stellar Management in a transaction brokered by Cushman & Wakefield.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in November 2018 in New York City.
Bank of America Provides $25M for Bay Area Refi
The loan retires a prior, $30 million CMBS mortgage from late 2008, which had been set to mature in January.