Finance & Investment
Bank of America Provides $25M for Bay Area Refi
The loan retires a prior, $30 million CMBS mortgage from late 2008, which had been set to mature in January.
Blackstone Sells $40M Phoenix Asset
TH Real Estate acquired the 240-unit multifamily asset, securing $40 million in revenue bond financing from Maricopa County’s Industrial Development Authority.
Security Properties JV Sells Seattle Community for $150M
A private investor—with financing from New York Life Insurance Co.—acquired the 309-unit luxury multifamily asset, which welcomed its first residents in 2017.
Decron Properties Buys San Jose Apartments
The partially affordable property last changed hands in 2012, when Greystar purchased the 208-unit community from Invesco for nearly $60 million.
NYC Healthcare Facility Secures $24M Refi
The 200-bed Eastchester Rehab & Health Care Center will use a portion of the proceeds for renovations to the facility.
Olympus Property Buys Houston-Area Luxury Asset
The 260-unit garden-style community is located in Katy, Texas, a booming suburb west of the city.
2018 NMHC’s OpTech Conference & Exposition Coverage
From sessions ranging from topics on crisis management, artificial intelligence, tech amenities and smart homes, the conference covered an array of subjects that are continuing to both disrupt and enhance the market.
Canyon Partners Acquires LA-Area Property
The firm has expanded its portfolio with the 153-unit Fountain View Apartments in Long Beach, Calif. MHE Real Estate sold the property for $36.5 million.
Lantower Acquires Charlotte Community
Rebranded as Lantower Waverly, the 375-unit community in Ballantyne features amenities such as a saltwater pool, game tables and a clubroom.
Prism Multifamily Buys Las Vegas Portfolio
The four Class A and Class B communities add up to almost 500 units and commanded a price tag of nearly $47 million.