Finance & Investment
Meridian Secures $22M in Financing for Luxury Development
Avery Place at Pompano will be an eight-story, Class A community with 145 luxury rental units and workplace studios ranging between 800 and 1,200 square feet.
CLP Makes First Foray into Southern FL
For its first acquisition in Palm Beach County, the privately held New York-based real estate firm chose Loftin Place, a Class A, mid-rise community completed in late 2015.
Luxury Condos Break Ground in Boston Area
A joint venture of Callahan Construction Managers, A.W. Perry and Boston Andes Capital will build Brio, a 77-unit waterfront property in Hingham, Mass.
Greystone Secures Largest HUD Loan for Nursing Facility
The $78.4 million refinancing for the 510-bed property in Brooklyn, N.Y., follows a $20 million capital improvement plan implemented by Centers Health Care.
Dougherty Secures $7M Acquisition Loan
On behalf of a private investor, Dougherty arranged the financing for the purchase of a Garland, Texas, market-rate community. The 12-year term, three-year interest-only Fannie Mae loan has a 30-year amortization schedule.
JLL-Backed REIT Pays $75M in Portland
The company has acquired Jory Trail at the Grove, a 324-unit apartment community in Wilsonville. The property is currently 95 percent leased.
Lightstone Grabs $71M AL Portfolio
The properties, all located in Mobile, include the 675-unit The Estates at Lafayette Square, the 450-unit Pine Bend & Hampton Park and the 200-unit Bel Air.
Berkadia Secures $23M Loan for NC Multifamily Development
Senior Managing Director James Tanner and Managing Director Henry Tanner arranged the financing through a HUD program. The loan will be used for Preserve at Carteret Place, a community in Morehead City, N.C.
Marcus & Millichap Facilitates $30M Sale of Affordable FL Asset
Evan Kristol and Felipe Echarte, first vice presidents of investment, represented the seller, a New York-based investment group, and procured the buyer for Cabana Club Apartments, a 332-unit community for seniors in Miami-Dade County.
On the Market: 5 Interesting Listings for the Week of 7/17
This week’s listings include a historic property in Staten Island and a speculative condo development deliverable with full entitlement in Scottsdale, Ariz.