Deals
NYC Developer Obtains $46M Loan to Build Kips Bay Condos
Forkosh Development Group’s newest project is a 20-story residential building in the Manhattan neighborhood. The site, formerly three small apartment buildings, was purchased earlier this year for $17 million.
JV Buys 240-Unit Baltimore-Area Community for $50M
Morgan Properties and Core Real Estate Partners have acquired Orchard Meadows, located in Ellicott City, as a value-add investment. The community will undergo more than $2 million in upgrades.
Titan, Investcorp Trade Atlanta Community
ECI Group acquired the 410-unit asset located in the city’s West Chamblee submarket. The property offers one- to three-bedroom apartments ranging from 950 to 1,435 square feet.
Transactions: June 2018
The following is a list of transactions that were announced between March 30 and April 20, 2018.
ARA Newmark Brokers Record-Setting Deal
Director Robert Bratley and Associate Director Marcus Griffin facilitated the $12 million sale of the boutique apartment building in downtown Denver’s Capitol Hill neighborhood.
Transcontinental, Adobe Break Ground on Dallas Community
The Lakeside Lofts luxury community will be situated within the Mercer Crossing mixed-use development, which is set to encompass 1,200 acres of office, restaurants, hotels and single family homes.
Atlanta Investor Expands in San Antonio With Foreign Funds
Benimax increased its San Antonio footprint with the acquisition of its second multifamily property, in a deal arranged by ARA Newmark.
$204M Chinese Project Attracts US, German Capital
Century Bridge Capital and Deutsche Finance Group are investing in the 1,427-unit community, which will be located in Xuzhou, a northeastern gateway city between Beijing and Shanghai.
Greysteel Arranges Trade of Dallas-Area Community
Managing Directors Doug Banerjee and Boyan Radic, Senior Investment Associate Andrew Mueller and Investment Associate Andrew Hanson negotiated the sale of the 281-unit property.
Top 10 Twin Cities Multifamily Transactions
The market’s strength has attracted a number of out-of-state investors such as TIAA, FPA Multifamily and Mapletree US Management that paid significant prices for top communities in the area.