Finance & Investment
Bascom Sells 252-Unit Houston Asset
Newmark Knight Frank originated a $23.8 million, 10-year Freddie Mac loan on behalf of the buyer to finance the acquisition of Sierra at Fall Creek.
Holland Partners Sells Downtown LA Towers for $403M
Daydream Apartments has scooped up the pair of newly built, luxury apartment buildings, The Grace at Spring and The Griffin at Spring, which total 575 units.
Jacksonville Community Changes Hands for $22M
KCB Management sold the 256-unit property for more than double the price it traded for in 2013. Berkadia originated more than $17 million in acquisition financing.
JV Acquires Houston Rental Property
Excelsa Properties and GoldCor Capital Partners purchased the 392-unit community, Bayou Parc at Oak Forest, as part of a $86 million value-add strategy.
Affordability Solutions: Lessons from Denver
NMHC President Doug Bibby on an innovative pilot program that brings public and private stakeholders together to provide reasonably priced workforce housing.
WinnCompanies Lands $11M Loan for Boston Redevelopments
The Clippership projects involve the demolition of four buildings and the construction of two new ones that are set to include 22 affordable apartments and 30 mixed-income condos.
Rastegar Property Acquires 2 Austin Communities
The company purchased Zilker Place Apartments and Redbud Bungalows, both of which are set to undergo capital improvements.
Pacific Oak Capital Funds $33M Portland-Area Project
The investment manager is backing a 172-unit community with 10,000 square feet of retail space in the city of Wood Village, Ore. Completion is expected in summer 2021.
JV Starts Work on Texas Student Housing Expansion
Balfour Beatty Campus Solutions, Wynne/Jackson and Star America are developing the $38 million project, which will add an additional 370 beds to serve the University of Texas at Dallas.
Balancing Access, Risk in Today’s Flush Debt Market
Commercial real estate investors must select carefully among the numerous sources of debt today. With traditional lending sources and many newcomers competing for business, will underwriting remain disciplined?