Development
TODAY’S DEALS: Miami Waterfront Development Site Trades Hands
ARA brokers a multifamily development site in Miami Beach, Fla.; Berkadia arranges $86 million for 15 seniors housing communities in North Carolina; and an Israeli insurance company acquires its first multifamily property in the United States for $48 million.
Wood Partners Community in Hopkinton, Mass., Nearly Complete
Wood Partners has announced that construction is nearly completed at its $45 million development, Alta Legacy Farms, in Hopkinton, Mass. The 240-unit luxury community, located in the master-planned Legacy Farms project, opened for lease in July 2013 and is 43 percent leased.
Construction Begins on The Picerne Group’s 198-Unit Multifamily Development in Cerritos, Calif.
The Picerne Group has announced that it has broken ground on its latest development, Aria. The Class A 198-unit residential community will be located at the cross streets of Bloomfield Avenue and Artesia Boulevard across the street from the Cerritos Towne Center.
Gilbane Breaks Ground on New Student Housing in Ames, Iowa
Gilbane Development has announced that it has officially entered the Ames, Iowa student housing market with the ground breaking of 23 Twenty Lincoln, a 320-bed student community that will serve the student population of Iowa State University’s campus in Ames.
Hunt Companies Selected to Develop Cadet Residence Hall at Texas A&M
Texas A&M University at Galveston has tapped Hunt Companies to develop a 612-bed, on-campus cadet residence hall.
Charting a Course Through a New Multifamily Lending Landscape
Investors need to plan ahead for the third-party due diligence requirements of lenders. Some of these requirements have changed.
Seattle’s Cornish to Start Construction on New Residence Hall and Learning Center
Cornish College of the Arts will hold a ground breaking ceremony to kick off its newest project, a 20-story residence hall and learning center located at 2025 Terry Avenue in Seattle.
MAC Realty Arranges Funding for a Madison Investments Acquisition and Development in DC
Working on Behalf of Madison Investments, MAC Realty Advisors LLC has arranged a $27.4 million investment and senior construction loan to acquire and develop a site located in Washington, D.C.
Fountain Residential Partners Breaks Ground on 1,100-bed Student Community
Fountain Residential Partners and Specialized Real Estate Group are ready to break ground on the first phase of a 1,100-bed student housing neighborhood serving the University of Arkansas.
CRE Execs Mostly Optimistic About MF
Multifamily has had a good run in recent years, and according to the results of the Akerman 2014 Industry Outlook, the sector is expected to keep running a while longer. The report was released this week at the law firm’s fifth annual U.S. real estate summit in Miami.