Finance & Investment
Related Lands $52M for FL Community
JP Morgan arranged the construction loan for Town Southern, located in Royal Palm Beach. The 392-unit community is scheduled for completion in 2018.
ARA Newmark Arranges Sale of 7East in Austin
The 186-unit community is located in one of the country’s top tech hubs and was 94 percent occupied at the time of the transaction. The property was acquired by GF Properties Group.
Emma Capital Expands Footprint in Charlotte
The company acquired the 240-unit Grand Terraces Apartments and the 310-unit Stanford Reserve for $53 million. It plans upgrades on both properties.
Cush & Wake Brokers Sale of 294-Unit KY Community
Mike Kemether and Craig Collins of Cushman & Wakefield represented the seller, Stratford Asset Management Co., in the $25.5 million transaction. RealSource Properties acquired the property, Breckinridge Square.
Investing in Brooklyn
Ideal Properties Group’s co-founder Aleksandra Scepanovic talks about the borough’s trends and how investors can identify the emerging opportunities.
JV Lands Acquisition Loan for West Dallas Asset
S2 Capital and Pennybacker Capital teamed up for the purchase of a 250-unit market-rate community in Arlington, Texas. Mark Brandenburg of JLL led the team responsible for arranging the acquisition loan.
On the Market: 5 Interesting Listings for the Week of 8/21
This week’s listings feature a 1938-built asset including a mix of property types situated on four parcels in California, as well as a 123-unit community in the growing Seattle submarket of Lynnwood.
HTG Opens 96-Unit Affordable FL Community
The developer invested $18.5 million in Freedom Gardens, a four-building project in the Central Florida city of Brooksville. HTG currently has four affordable communities under construction in the state.
Investor Acquires, Merges 2 FL Properties
Northland Investment Corp. has acquired Mallards Cove and Shell Trace in Jupiter, Fla. Renamed Jupiter Isle, the new property features 359 units set on a low-density, 42-acre site.
Moinian Group, SL Green Snag $500M for Manhattan Tower
Sky Residence includes 1,175 units and 70,000 square feet of amenity space in a 71-story community. It is the largest single-tower residential building in the U.S., and received the largest-ever single-asset tax-exempt financing completed by Freddie Mac.