Finance & Investment
Hunt Real Estate Secures Financing for 368-Bed MI Asset
The community consists of two phases, one built in 2017 and the second slated to be completed by August 2019. Campus Creek Cottages is 100 percent occupied.
Wells Fargo Refinances Manhattan Luxury Properties
The Gotham Organization received the permanent mortgage loans, totaling $184 million, for two upscale apartment buildings in Midtown West and Midtown South.
Long Beach Property Sells for $72M
Berkadia arranged the disposition of The Landing at Long Beach on behalf of the seller. The new owners plan to invest $28,000 per unit for upgrades.
Executive Q&A: Takeouts, Investment Sales to Fuel Mortgage Market
While apartment fundamentals are strong, there are likely to be fewer refinancings in 2019 because many borrowers refinanced last year, according to PGIM Real Estate Finance’s Mike McRoberts.
Nuveen Real Estate Sells 336-Unit Raleigh Asset
The 14-building community changed hands for $46.1 million. The buyer used a $27.7 million loan originated by Prudential Financial to finance the acquisition.
The Answer to the Bay Area’s Affordable Housing Crisis
Enterprise Community Partners’ Rich Gross and Kaiser Permanente’s Bechara Choucair talk about their joint projects. The two companies launched a $100 million loan fund to create and preserve multifamily rentals.
$26M Financing Earmarked for Houston Portfolio
Capital One provided the Fannie Mae loans to Solid Goods Corp. to refinance the Villas at Cypresswood and the Lakewood Apartments.
SoCal Asset Sells for $20M
The 98-unit Villa Capri in Escondido benefited from an acquisition loan originated by Aetna Life Insurance Co. IPA represented the seller and procured the buyer.
Texas Upscale Community Receives $28M Refi
The 249-unit luxury property in College Station was built in 2016 and is owned by a joint venture between Midway and Harrison Street.
Mixed-Income Development Lands $61M Financing
Mission Trail at El Camino Real in San Marcos is scheduled to break ground in the next few months, with preleasing anticipated to begin this fall.