Finance & Investment
Fort Worth Luxury Development Lands Construction Loan
Talos Holdings plans to break ground this month on a new 300-unit luxury community in Fort Worth, Texas. The development is scheduled for completion by the end of 2018.
CBRE Brokers Sale of 43 Affordable Properties
The portfolio includes 4,153 units spread mainly across Maryland, but also in Pennsylvania and Virginia. CBRE Affordable Housing Executive Vice President Jeff Kunitz arranged the sale on behalf of Shelter Group. Enterprise Homes purchased the assets.
On the Market: 5 Interesting Listings for the Week of 7/31
This week’s listings include a vintage schoolhouse converted to a multifamily property and a prospective 15-unit, beach-adjacent loft development in California.
Continental Partners Secures $19M for L.A. Assets
The capital will finance development, refinancing and acquisition of properties in the Westlake and East Hollywood neighborhoods.
HFF Finances 2 Denver Communities
Working on behalf of Mountain View Capital LLC, HFF secured the financing for Coronado Crossing and Valley Park Village. The Denver properties feature 430 units in total.
Granite Investment Buys OR Memory Care Portfolio
Avalon Health Care Group will manage the two facilities, which mark Granite’s first Oregon deal.
JV Snags $90M DC-Area Portfolio
Besyata Investment Group and The Scharf Group purchased The Communities at Arbor Vista in the Washington, D.C., submarket of Adelphi, Md. The partnership plans to modernize both the amenities and units.
Manhattan’s Beekman Tower Lands $70M Refi
Meridian Capital Group arranged the 10-year CMBS loan for the 26-story Art Deco building. The property recently underwent a $24.2 million renovation to reposition it as corporate housing.
Covenant Sells 272-Unit Atlanta Asset for $32M
The deal continues the Atlanta market momentum for Covenant Capital Group, following the company’s sale of the 500-unit Viera Briarcliff in June for $76 million. Mike Kemether and Travis Presnell of Cushman & Wakefield worked on behalf of StoneBridge Investments, the seller, while Elliott Throne, Gregg Shapiro and Ware Shipman of HFF secured acquisition financing.
Cush & Wake Secures $40M Loan for Nashville-Area Community
Middleburg Real Estate Partners plans to build a 328-unit apartment property in Franklin, Tenn. Mike Ryan, Telly Fathaly and Brian Linnihan of Cushman & Wakefield’s Atlanta team originated the senior debt as well as the joint venture equity.