Finance & Investment
A Lender’s View: South Florida Development Going Strong
Although creditors are starting to grow cautious due to the current real estate cycle, developers in the Sunshine State continue to secure construction financing in a market showing no signs of a slowdown.
Passco Pays $70M for Jacksonville Apartments
Waypoint Residential and Rohdie Management developed the 13-building, 380-unit Point at Tamaya in Florida, which opened its doors in October 2017.
Pantzer Properties Buys $88M MD Asset
The company has expanded its portfolio with Rolling Hills, a 468-unit property located in Germantown that includes a tot lot, a dog park and a soccer field.
Aukum Group Buys Phoenix Asset for $41M
The Praedium Group sold Adobe Ridge, a 224-unit community in Glendale, Ariz., in a deal facilitated by Institutional Property Advisors.
JoCo JV Picks Up Austin Value-Add Assets
The new owner plans to renovate and consolidate the two garden-style properties, consisting of 316 units, into a single community.
StoneRiver Co. Acquires 625-Unit AL Portfolio
The company purchased Huntleigh Woods, Southern Oaks and Ashford Place, all located in Mobile. Each of the communities has its original interiors and offers a value-add opportunity for the new owner’s Fund I.
Greystone Provides $71M for San Jose Community
The company facilitated a Fannie Mae DUS loan for 251 Brandon St., which includes a 10-year fixed rate, eight years of interest only and a 30-year amortization period.
Top 10 Largest Multifamily Completions in Indianapolis
Despite two strong years for inventory growth, demand for new units has continued to grow across the metro, putting pressure on builders. Overall, rental projects have stayed moderate in size—up to 250 units.
Lion Real Estate Roars Into Nashville
The company acquired the 1973-built Highland Cove, a 206-unit property that traded for $16.6 million in an off-market transaction.
MBK Senior Living Acquires $382M Portfolio
The properties, which recently underwent $25 million in capital improvements, include nine senior housing communities across California, Washington and Arizona, totaling 1,200 units.