Finance & Investment
San Diego Apartments Snag $38M Refi
KeyBank Real Estate Capital arranged the financing, 12-year term, seven-year interest only period and a 30-year amortization schedule for the 255-unit Stonewood Garden Apartment Homes.
Bellwether Closes $62M in Financing
The properties include a 116-unit community in New York, a 192-unit community in Texas and an industrial property in Ohio.
Rockpoint Group Snags $87M FL Community
Related Development, the multifamily component of Related Group, sold Town at Pembroke Pines, a recently completed 356-unit property in Pembroke Pines, Fla. During the past 18 months, the company sold three completed multifamily projects totaling more than $290 million.
LINC Opens LA-Area Affordable Community
Mosaic Gardens at Willowbrook is a $20 million development built for low-income families and homeless households, with support from several public and private entities. The latest homeless count shows there are nearly 47,000 homeless in Los Angeles County.
Walker & Dunlop Provides $95M for North Miami Acquisition
Avesta Communities procured the 402-unit property Avesta Biscayne, which features six five-story residential buildings along with a clubhouse and leasing office.
Friedkin Snags Long Island Apartments for $140M
Making its New York debut, the San Francisco-based investment firm bought a 450-unit community in Suffolk County and an adjacent golf course.
What’s Impacting 2017’s Investment Landscape
W. Allen Morris, president & CEO of The Allen Morris Co., offers his views on how the new president will impact multifamily, trends to keep an eye on and what’s on his radar for the year and beyond.
Hamilton Zanze Buys Salt Lake City Community
The company plans to upgrade the 256-unit property that it purchased from Peak Capital Partners in an off-market transaction. Mission Rock Residential will manage the property.
Capital One Provides $27M Refi Loan for AL Community
The Birmingham development was completed in May 2016 and was 97 percent occupied upon closing. The three-, four- and five-story buildings comprise 215 units.
Bronx Affordable Property Opens Doors
Gouverneur Place Apartments, a 68-unit development, was constructed through a public-private partnership that included the state of New York and UnitedHealthcare.