Finance & Investment
CBRE Team to Represent Seller in 2 CO Transactions
Creekside at Palmer Park and Woodland Hills are both located in Colorado Springs. Griffis/Blessing received $99.5 million for the two assets totaling 488 units.
JV Secures $49M for 5 South Carolina Properties
Arbor Realty Trust arranged the financing on behalf of Friedlam Partners and EBEX Holdings for the portfolio, which comprises more than 775 units.
Sequoia Equities Secures $100M Refi in Orange County
The owner acquired the 484-unit luxury community in 2009; the new financing package retires $60 million in debt.
Multifamily Financing’s Endurance Test
The strong multifamily market is fueling competition in the lending environment, with an abundance of new players and extended services from life companies. Tower Capital’s Adam Finkel shares his views on the capital stack outlook for 2019, along with some predictions for the sector.
Berkadia Lands $37M for TX Asset
The borrower, American Landmark Apartments, will invest in capital improvements, including upgrades to unit interiors and amenity packages.
Newcastle Acquires Chicago Multifamily Asset
Sean Connelly and Davis Edgerly from 33 Realty represented both the buyer and the seller in the $5.4 million transaction within the Logan Square neighborhood.
Hunt Real Estate Secures $23M for Phoenix-Area 1031 Exchange
The 224-unit Canyon Woods and the 148-unit Shadow Rose are both slated for upgrades, with ownership set to invest roughly $3.5 million in improvements.
NYC Details $24B Public Housing Upgrade
Transfer to Preserve is among several programs launched by Mayor Bill de Blasio’s administration to raise capital for repairs at the city’s NYCHA sites.
Miami Community Secures $142M in Financing
Square Station, a 710-unit downtown asset developed by Melo Group in Miami, launched leasing in June and is now 95 percent occupied.
Brooklyn Community Secures $113M Refi
Goldman Sachs originated the new loan, which pays down a previous $120 million construction mortgage for the 2016-built luxury property.