Finance & Investment
Birmingham Asset Changes Hands for $39M
The 468-unit, Class B property contains a mix of one- to three-bedroom apartments situated near Interstate 65, providing convenient access to Birmingham’s downtown area.
Private Investor Adds Louisville Property to Its Portfolio
The company, 29th Street Capital, acquired The Cloisters Apartments, a 39-unit community that was once the chapel and convent for the Ursuline Academy of Immaculate Conception.
WinnCos. Completes Largest DC Community Solar Project
The District’s Department of Energy and Environment awarded the firm a grant from its Solar for All program, which the company used to install a 651 kW rooftop facility at Atlantic Terrace Gardens.
Seattle Senior Housing Lands $115M
Columbia Pacific Advisors has received financing for 620 Terry, a 243-unit development that will include a concierge, a club room and a theater.
Decron Re-Opens Renovated CA Property
The firm invested $10 million to renovate the 440-unit Reserve at Chino Hills, modernizing the kitchens and flooring, as well as building a two-story clubhouse.
Timberland Partners Snags FL Asset
The company plans to invest $3 million in renovations to Huntington at Sundance, a 292-unit community in Mulberry.
Multifamily Acquisitions in Emerging Markets
Continental Realty Advisors’ David Snyder discussed investment opportunities in markets such as Las Vegas, ways to maximize returns and why in-depth research is essential to expertly deploying capital.
JV Acquires New Fort Myers Property for $71M
Coastal Ridge Real Estate Partners and H. Katz Capital have secured Florida property Spectra, which includes 324 units.
Berkadia Arranges $74M for 2 FL Communities
The firm secured $34.5 million for The Queue Apartments in Fort Lauderdale and $39.5 million for Advenir at the Oaks in Ocoee.
Economists See Clouds in the Silver Lining
Although the immediate state of the economy is healthy, experts discussed tax reform’s potentially negative impact on housing and the U.S.’s overall fiscal future at the National Association of Business Economists (NABE) annual policy conference in Washington, D.C., last week.