Cities
Penzance Targets Metro Washington with $255M Fund
For its first private-equity fund, the investor-developer anticipates parlaying capital into a portfolio valued at $800 million to $1 billion
Lendlease Unveils Chicago South Loop Community
The Cooper at Southbank is one of five residential towers the company will build on the 7-acre site.
Orlando Apartments Sold for $48M
Cushman & Wakefield arranged the sale of the 296-unit Canopy Apartment Villas to Taurus Investment Holdings on behalf of Robbins Property Associates and LEM Capital.
NM Development Lands Tax Relief
The Albuquerque City Council approved the metropolitan redevelopment bond to support construction of the 226-unit Broadstone Northpoint Apartments, which broke ground in early 2017.
Titan Development Proposes ABQ Community
The company’s plans call for the addition of 102 market-rate apartments, adding to the Midtown/University submarket’s existing supply of 3,700 units.
Avanath Pays $72M for 2 Chicago-Area Affordable Communities
The company acquired Hinsdale Lake Terrace for $63 million from the Laramar Group, and paid $9.2 million for Drexel Court, which it acquired from DMI Real Estate Group.
Development Gears Up for Banner Year in Queens
The transit-oriented development boom continues in the New York City borough, which gained more than 1,000 new apartments through July.
Detroit-Area Portfolio Sells for $20M
Coseo Properties offloaded the two communities, totaling 326 units, five years after acquiring them from the Slatkin Corp. for approximately $11.6 million.
LA Luxury Community Receives $25M Financing
Wilshire Skyline has received the loan for the acquisition of the newly developed The Line Lofts located in Hollywood, Calif.
Related, Atria to Target $3B in Senior Housing Pipeline
The two companies are planning luxury high-rise properties in major U.S. markets, starting with New York City and San Francisco.