Finance & Investment
3 Assets Trade in Newark
Gebroe-Hammer Associates facilitated two deals for the New Jersey properties. The three-story communities total 95 units in the Upper and Lower Roseville neighborhoods of the city.
CBRE Secures $90M for Phoenix Community
The Capital Markets Debt & Structured Finance team arranged the financing for San Sonoma, a 590-unit property with an average rental rate of $1,373.
JPI Lands $132M for Jefferson Stadium Park Phase II
The project is part of a three-phase, master-planned development in Anaheim’s Platinum Triangle. The property will feature 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of retail.
Berkadia Secures $25M Loan for TX Community
Berkadia arranged the acquisition loan on behalf of Faudree Ranch Apartments LLC. The 300-unit community in Odessa, Texas, was 90 percent occupied at the time of the transaction.
Stepp Facilitates Long Beach 1031 Exchange
The three-property portfolio traded for $10.6 million or nearly $189,000 per unit and closed at a 4.6 percent cap rate.
SF Development Bags $66M in Construction Financing
Rescore Property Corp. and Presidio Development Partners have received funding from Square Mile Capital for The Rise Market Street, a nine-story, 160-unit project in the Upper Market/Hayes Valley neighborhood.
Urban Investment Beyond the Core
Kenan Bigby of Trinity Financial sheds light on trends in affordable housing, transit-oriented development and investment opportunities in secondary and tertiary markets.
CBRE Leads Record Sale of OC Community
The brokerage firm arranged the sale of a 21-unit community in Santa Ana, Calif., at one of the highest price-per-square foot values for in the city. The buyer, NNC Apartment Ventures, plans to renovate the property, which was built in 1987.
Habitat Co. Lands $16M Chicago Affordable Housing
The company plans on making substantial renovations to East Park SRO, a 153-unit property in the East Garfield Park neighborhood. Plans include upgraded lighting, mechanical systems, masonry, landscaping and a new roof.
Mesa Snaps Up 2 Suburban Atlanta Communities
The company acquired The Retreat at Eagles Landing, as well as Carrington Ridge, which are both located in Stockbridge, Ga.