Finance & Investment
RADCO Acquires $41M GA Property
Called Indian Trail Apartment Homes, the community is a 467-unit, Class B property in Norcross, Ga. The company plans a $10 million renovation.
Inside NYC’s Multifamily Climate & Trends
Jodi Stasse, senior managing director of new developments for Citi Habitats and Corcoran Sunshine, discusses how the political climate has affected the area’s development, and what investors should be looking for in the future.
Inland Lands 332-Unit AL Community
A nonlisted multifamily REIT sponsored by the company purchased The Verandas at Mitylene in Montgomery for $37 million. The asset was formerly managed by Flournoy Properties.
JLL Arranges 430-Unit Vegas Sale
Monogram Realty Trust sold Veritas Apartments in a transaction completed by JLL Vice Presidents John Cunningham and Charles Steele. Farnam Realty acquired the asset.
Seattle Mixed-Use Project Lands $80M Refi
The more than 183,000-square-foot development comprises a 158-key hotel and a 93-unit community. Proceeds are being used to pay off the existing construction loan.
Ceruzzi Gets Massive Loan for Midtown Manhattan Condos
The company received $300 million for completion of a 72-story building with 124 condos, 7,500 square feet of retail space and a 25-space garage.
TruAmerica JV Acquires $90M San Diego Community
The 519-unit Eagles Point in Escondido, Calif., comprises studio, one- and two-bedroom floorplans ranging from 440 to 995 square feet. The community will undergo TruAmerica’s largest renovation plan in company history.
Philadelphia Portfolio Lands $35M Refi
Meridian Capital arranged the financing on behalf of Lindy Communities for six buildings. One of the largest properties is the 111-unit Academia Suites.
Greystone Taps New Atlanta Managing Director
Michael Doran, a 20-year commercial real estate veteran, will now focus on originating mid- to large-size transactions for permanent, bridge and construction multifamily debt.
Enterprise Homes Triples Footprint with Mid-Atlantic Buy
Acquired from The Shelter Group, the portfolio comprises 43 communities in Pennsylvania, Maryland and Virginia. Enterprise plans to keep the properties affordable.