Finance & Investment
AdCare Buys $6M Alabama Assisted Living Facility
The 106-bed property was leased to an affiliate of C. Ross Management. This is AdCare’s first acquisition since it transitioned to a property holding and leasing company.
The Next Wave in Multifamily: Middle-Market Assets
With multifamily development hitting the brakes in major cities and shy rent growth on the horizon, investors are setting their sights on middle-market assets owned by Baby Boomers. Industry leaders predict that, as this $10 trillion market changes ownership, the largest transfer of properties in the history of real estate will occur.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
Legacy Partners Refinances $37M Loan for SoCal Community Makeover
The company has received HUD approval to refinance a loan from Greystone and plans to renovate a 209-unit property In West Covina, Calif., that it has owned and managed since 2007.
Advancing Affordability
For nearly a decade, as founder & CEO of Avanath Capital Management, Carter has championed workforce housing. Along the way, he has built one of the nation’s largest affordable portfolios, comprising 40 properties valued at more than $1 billion.
Meridian Lands $20M Loan for Chicago Asset
Meridian secured a bridge loan for the acquisition of Ivy Park Homes, a rental townhome community in the South Side neighborhood.
Bellwether Closes First Equity Financing for $199M Deal
The mortgage banking firm arranged joint-venture equity financing on behalf of John M. Corcoran & Co. for the purchase of Windsor Garden Apartments, a 914-unit community in Norwood, Mass.
Continental Sheds 4 in Baltimore
Arranged by Transwestern, the sales include a pair of communities acquired by Schweb Partners and two purchased by Kindred Property Group.
On the Market: 5 Interesting Listings for the Week of 5/8
This week’s listings include a Phoenix garden-style community for $1 million and a well-designed urban property in Portland.
Pacific Urban Snags $30M San Diego-Area Asset
Located in Oceanside, Calif., the 136-unit community features 11 two-story buildings. The property also has a condo map and units could be sold individually.