Finance & Investment
No Slack: Top Job Markets Getting Tight
If quickly growing southern cities see their unemployment rates fall below 3 percent, wage inflation may not be far behind.
Oklahoma’s Largest Community Changes Hands
ARA Newmark closed the $60.5 million sale of Brookwood Village, a 1,128-unit property in suburban Oklahoma City. Weidner Apartment Homes purchased the asset from Case & Associates.
Sentinel Sells 122-Unit Brooklyn Community
The property, which traded for $33 million, is located in the northern part of the borough’s Kensington neighborhood and includes studios, as well as one- and two-bedroom apartments.
OakPoint Lands Nashville-Area Luxury Community
Homestead Rental Properties sold The Luxe at Indian Lake Village, a 94-unit property in Hendersonville, Tenn. This marks OakPoint’s fourth recent midstate acquisition.
Suburban Denver Community Trades for $58M
Weidner Apartment Homes sold the 312-unit property to Phoenix Realty Group. HFF secured $46 million in financing for the sale.
LA Koreatown Community Trades for $9M
Lion Real Estate Group sold Kingsley Tower, a 45-unit apartment building it acquired in 2012 for $4.2 million and then repositioned.
FCP to Provide Financing for Charleston Community
The company is collaborating with White Point Partners and Middle Street Partners on the 275-unit Foundry Point, located in the NoMo neighborhood of Charleston.
$43M DC Affordable Community to Open Next Spring
Portner Flats will bring 96 affordable units to the popular U Street Corridor in Northwest, D.C. The project is a public-private partnership between the District, Somerset Development, Jonathan Rose Cos., New Community Partners and other entities.
CBRE Closes $40M Sale of Phoenix-Area Community
The company represented Baron Properties in the sale of the 240-unit community. The buyer partnership was represented by Mike Dow of Impact Multifamily Advisor.
On the Market: 5 Interesting Listings for the Week of 6/26
This week’s listings include two historic properties in New York: a 1920s-era community on Long Island and a Brooklyn walk-up built in 1910.