Cities
CA JV Acquires Value-Add Asset in Austin
Dekel Strategic Investors and Arrowroot Real Estate are planning to make renovations to Mueller Place, which was built in 1969.
Nonprofit Breaks Ground on MN Affordable Housing
Developed by Aeon, The Louis will add 70 units near the Prospect Park neighborhood. A quarter of the apartments will serve residents earning 30 percent of the area’s median income.
Rittenhouse Realty Facilitates Sale of Philly Luxury Property
The new building features several interior and exterior high-end amenities and provides residents with immediate access to the city’s busiest areas.
Cushman & Wakefield Arranges $60M Miami Sale
Advenir acquired the value-add Vista Verde at Westchester, which includes 302 units. The community is located near Florida International University.
Origin Investments, SEEC Enterprises Plan Denver Development
The $35 million Brick Stone Apartments will include 150 units. Phase one is expected to be completed in the second quarter of 2019.
Bolour Breaks Ground on $24M Luxury LA Community
The Riverside development in Silver Lake will comprise 65 units and offer access to a swimming pool, a gym and a club room.
On the Market: 5 Interesting Listings for the Week of 8/17
This week’s list of properties includes a high-end community in Oakland, Calif.; a vintage asset in the Detroit metro area; and an under-construction mid-rise in Jamaica, N.Y.
Maxx Properties Acquires Salt Lake City Property
The company plans to fully renovate the 361 units and common areas of the 1970s-era Cobble Creek Apartments, which is located 10 miles south of the city’s downtown.
South FL Asset Lands Freddie Mac Refi
HFF originated the new $22 million financing package, replacing a previous, floating-rate CMBS loan of $17 million taken in 2015.
Luxury Rentals Take a Hit in Richmond
As the majority of new stock is upscale, the metro’s multifamily rent growth decelerated in the first few months of 2018, falling behind the national average.