Development
WNC Funded Reno of San Diego-Area Affordable Asset
The firm provided $13.2 million in financing for the renovation of Woodglen Vista Apartments, a 188-unit affordable community in Santee, Calif., that Jamboree Housing Corp. developed.
Hines to Expand UK Footprint
In a joint venture with Henderson Park, the firm plans to open a 630-bed student housing property in Lancaster, U.K.
Lightstone Completes Long Island City Development
The 428-unit ARC features luxury amenities such as a salt-water pool, bocce courts and a greenhouse.
CapitalSource Provides Construction Loan for CA Asset
The Nexus will offer 70 units and 238 beds, including a few affordable apartments. The community is in close proximity to University of California, Berkeley’s main campus.
Fulton Hill Properties Breaks Ground on Richmond Project
Artisan Hill will be a 204-unit community adjoined by an artists’ gathering place. The development, located at 1000 Carlisle Ave., near several parks and trails, is slated for completion in 2019.
Cleveland Hotel to be Converted Into Senior Housing
The Lake County Ohio Port and Economic Development Authority completed a $49 million bond financing packaging for Tapestry Wickliffe to transform the building.
MORGAN Enters Phoenix Market with Luxury Asset
The 474-unit Pearl Biltmore will feature studios and one-, two- and three-bedroom floorplans, as well as several loft-style units. Construction is set to begin in 2018, with completion scheduled for 2019.
Century West Partners Completes NEXT on Sixth in LA
Century West Partners is a joint venture of Fifield Cos. and Cypress Equity. NEXT on Sixth marks the second recently completed development of the joint venture in Koreatown.
Royal Capital Group Breaks Ground on Affordable WI Community
The $20.3 million development will feature 94 units. UnitedHealthcare is the largest private investor, providing $5.4 million in equity funding.
CBC Brokers Sale of 3 Historic SLC Communities
Multifamily investors continue to show interest and confidence in the area’s apartment market. Strong demand resulted in multiple offers for all three assets.