Finance & Investment
PAC Sells 300-Unit Dallas Community
Steadfast Cos. paid about $44 million for Enclave at Vista Ridge, a Class A community located in a northwestern suburb of Dallas. The sale was subject to a $29.1 million Fannie Mae loan.
Richmond Assets Trade for $6M
Marcus & Millichap brokered the sale of The Park at Forest Hill and Chateau de Ville, two properties totaling 119 units. The communities are located within a three-minute drive of each other.
Capital One Brokers $9M Loan for SC Community
The loan was used for the acquisition of The Terrace at Butler, a 132-unit property in Greenville. New York-based Ladder Capital provided the loan for Engel Realty Co.
IRT Nabs 160-Unit Kentucky Asset
The real estate investment trust paid $14.2 million to purchase Haverford Place, a community in the heart of Georgetown.
Richmond Development Scores $40M Construction Loan
Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.
On the Market: 5 Interesting Listings for the Week of 5/22
This week’s listings range from a townhouse in trendy North Hollywood, Calif., to a student housing asset located near the University of Alabama, the largest university in the state.
Berkshire Group Nabs DTLA Luxury Apartments
This is the company’s second purchase in the Los Angeles market in the last year. The 266-unit community also features over 8,500 square feet of ground floor retail.
Universe Holdings Starts LA Buying Spree
The company has added to its California portfolio with the $12.6 million acquisition of the 45-unit Villa Edgemont in Los Feliz.
Continental Realty Snags $61M Raleigh Community
The NRP Group sold The Edison Lofts, a seven-story, 223-unit property close to the city’s central business district.
NY Launches $20B Affordable Housing Initiative
The five-year plan was created to combat homelessness and proposes $10 billion to create and preserve more than 110,000 units across the state, including 12,000 units is designed through the newly enacted “Affordable New York” program.