Finance & Investment
How Bellwether Closed a Record Section 538 Deal
The Enterprise Community Investment subsidiary facilitated a $19.6 million loan for a mixed-income community in Royse City, Texas. The team that arranged the financing touches on the difficulties along the way and the affordable housing crisis in the state’s rural areas.
Meridian Arranges $23M Loan for TX Community
The firm secured a three-year loan that will be used to recapitalize the 344-unit Wildwood in Austin, which features a playground, a pool and 650 parking spaces.
Capitol Seniors Housing Acquires NJ Community
Siena in Cinnaminson Township was developed as a condo building and will be converted to apartments. The company plans to add units and a fitness area, a yoga studio and a card room.
Atlas Real Estate Group on Denver’s Multifamily Outlook
Co-founder Jason Shepherd explores the investment market and new development trends he’s seeing, such as the rise of micro units.
Certé Group Snags $18M for AZ Asset
CBRE arranged the financing for Avilla Heights, a 116-unit luxury community in Chandler.
WinnCos. Breaks Ground on Boston Veterans Housing
The Residences at Brighton Marine is the first of its kind to offer mixed-income housing in Boston since World War II. It will include 102 units and on-site services and is scheduled for completion by December 2019.
MN 55+ Community Sells Above the Listing Price
Lynn Court Apartments in Savage received offers from investors from seven different states, which is believed to be representative for the state of the area’s multifamily market.
Historic Richmond High-Rise Sells for $39M
Built in 1913, the 19-story First National Bank building was the city’s tallest tower at that time. In 2012, its owner converted the property into a 154-unit community.
TruAmerica Sells Las Vegas Community for $72M
Solis at Flamingo comprises 524 units across 34 buildings. The asset recently underwent major renovations and at the time of the transaction was 94.1 percent occupied.
Pathfinder Snags 125-Unit Seattle-Area Community
The company purchased Astoria Apartments—located in the Fife submarket—for $18 million and is planning extensive renovations of the 36-year-old asset.