Finance & Investment
Provident Realty Lands $122M for Historic Houston Mixed-Use
HFF secured a floating-rate bridge loan through TPG RE Finance Trust. The financing will be used for redeveloping The Star, which will feature 286 units.
Electra America Buys 5th San Antonio Property
Built in 2013, Pecan Springs is a 344-unit garden-style community. The property is currently 95 percent occupied.
Bascom Expands CA Footprint With $17M Buy
Casanova Grove is a 76-unit community located in Monterey.
How Mission Lenders Fueled Motor City’s Comeback
After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.
Boston Affordable Housing Gets $14M Renovation
LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.
Mallory & Evans Brings Student Housing to SC, AL
The company is adding Bellamy Coastal and Bellamy Florence to its luxury student housing brand. Totaling $56 million, the two communities are scheduled for completion by fall 2018.
FL Mixed-Use Community Adds Multifamily Component
Edera at Coconut Point will be the only residential rental property within the 500-acre, master-planned, mixed-use development.
Sagora Senior Living Breaks Ground on First CA Community
The 14-acre campus will feature independent living, assisted living and memory care apartments. The Rocklin, Calif., asset will be the company’s 29th retirement community.
Miami Community Commands $37M
Evan Kristol and Felipe Echarte of Marcus and Millichap’s investment team worked on behalf of the private seller to procure the buyer, Blue Rock Partners, for the transaction.
On the Market: 5 Interesting Listings for the Week of 9/11
The most recent listings include a Seattle-area property on nearly 80 acres of land and a fully renovated 1920s asset in Los Angeles’ Koreatown.