Finance & Investment
ARA Adds New SVP to Chicago Team
James Mitchell, who brings with him 30 years of experience in real estate, will be responsible for overseeing the firm’s sales and client relationships.
Brookdale Senior Living Obtains Near $1B Credit Facility
The portfolio is diverse, including properties nationwide and various care levels, as well as a small amount of skilled nursing.
On the Market: 5 Interesting Listings for the Week of 9/4
This week’s listings feature two amenity-rich properties: a country-urban designed community in Kansas boasting perks such as a wine bar and hot tub, and a Canoga Park, Calif., property with a spa, courtyards and expansive grounds.
JV to Convert FL Student Housing Into Apartments
The Collier Cos., Apex One and Paravest Capital have acquired the 324-unit Avenue 29 Apartments in Tallahassee and plan to reposition the community.
Security Properties’ Seattle Sale Completes 1st Fund
700 Broadway, a mixed-use property in Capitol Hill, marked the last of 17 assets that comprised the firm’s first closed-end discretionary multifamily real estate fund.
Manhattan Sale Prices Drop: CityRealty Report
The study found that the average cost in the New York City borough continues to drop, but downtown is still thriving when it comes to condo, co-op and new development purchases.
TSB Capital Cinches Timely Loan for GA Student Housing
Located adjacent to the University of Georgia, The Mark Athens is a 300-unit, 928-bed community that offers a mix of units ranging from studio to five-bedroom.
Orlando Affordable Housing Scores $20M Refi
Berkeley Point Capital arranged financing for Sand Lake Pointe Apartments, a 312-unit property. The loan was securitized with Ginnie Mae on a 35-year fully amortizing term.
JV Secures $155M for Miami Condos
Terra, New Valley, Great Eagle Holdings and Bizzi & Partners secured the construction financing for Eighty Seven Park, a 66-unit tower featuring luxury amenities such as a butler service, juice bar and full-time botanist.
Secondary Markets Present Strong Opportunities
Investing in markets outside the core presents an opportunity to capitalize on the demand for downtown assets without the downtown address. Stephen Catarinella of CAPREIT discusses what factors to consider when acquiring communities in these areas.