Finance & Investment
UIP Closes Record Deal Following TOPA Bid
The deal followed tenants’ exercise of their right to purchase the transit-oriented property in the Capitol Riverfront submarket from J.P. Morgan Chase.
Venterra Acquires Nashville Apartments for $34M
The firm used a mortgage held by PNC Bank to finance the acquisition of the 171-unit community, which opened at the end of 2016.
Hunt Provides Loan for 152-Unit SC Property
The funding is for the purchase of Huntington Apartments, an 11-building community built in 1979 and located within the Greenville-Anderson-Mauldin MSA.
Chinese Investor Seals SoCal Deal
Gemdale USA paid $46 million for an asset north of L.A. in the Santa Clarita Valley.
Phoenix Apartments Command $110M
Knightvest Capital acquired the asset for the second-highest price recorded for a multifamily property in Arizona.
JLL Closes Sale of Class B Community in The Alamo
The property is located near North Star Mall and Alamo Quarry and has a unit mix comprising studios and one-, two- and three-bedroom floorplans.
Year-Over-Year Origination Volume
As indicated by the latest data available, origination volume was up 8 percent year over year in 2016, according to the Mortgage Bankers Association. Nearly 3,000 different lenders provided a total of $269.2 billion in new mortgages for apartment buildings with five or more units.
C&W Arranges Sale of 11-Story AL Community
Multifamily Management Inc. sold the 147-unit property in Mobile, Ala. The pet-friendly asset features amenities like a 24-hour fitness center and movie theater.
Continental Partners Arranges $38M for 4 LA Deals
Working on behalf of four different sponsors, the company was able to secure financing for 12 properties totaling 210 units.
Greystone Closes $80M NC Deal
The transaction allows the company to convert the financial structure of 645 affordable housing units across nine communities for the Greensboro Housing Authority.