Finance & Investment
PA Senior Living Community Expands
Windy Hill Village, a Presbyterian Senior Living community in Philipsburg, broke ground on a 48-unit rental apartment building. R.S. Mowery & Sons is the project’s contractor.
Beachwold Secures $54M for 2 Tampa Bay Properties
The communities, located in Bradenton and St. Petersburg in Florida, received two separate 10-year, fixed-rate loans with Goldman Sachs.
ARA Newmark Arranges Sale of San Antonio’s Agave
The newly-built luxury mid-rise was acquired by Castle Lanterra Properties, marking the investor’s entrance in the San Antonio market.
Houston Portfolio Lands $130M in Financing
Berkadia arranged the financing for H7, a community that encompasses more than 2,000 units and was 93 percent occupied at the time of the transaction.
Franklin Street Closes Sale of 111-Unit Florida Asset
Cornerstone Pointe Apartments traded for $10.6 million. Milbrook Properties Ltd. purchased the community from Everett Realty Services. The community last traded in 2010 for $3.6 million.
Marcus & Millichap Arranges Luxury Condo Sale in Chicago-Area
The community comprises six buildings, each of them made up of 12 two-bedroom, two-bathroom units. Firethorne Luxury Apartments changed hands for $8.3 million, in which the buyer and seller were both represented by investment specialists at Marcus & Millichap.
3L Closes on Milwaukee Asset, Plans Conversion
The company will invest $15 million to transform the former office property at 735 W. Wisconsin Ave. into a 144-unit apartment building.
PASSCO Acquires Space Coast Property
The company intends to initiate an array of capital improvements at the Class A property, which it purchased from Flournoy Cos. KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing for Passco Cos. through Fannie Mae.
NewCourtland to Redevelop Former Liddonfield Homes Site
The new owner acquired the site for $5.5 million from the Philadelphia Housing Authority. The former public housing development will be transformed into an affordable senior housing community.
Rescore Snags $100M for Hollywood Apartments
The community is a 368-unit, seven-story project located in the Hollywood Entertainment District, a Business Improvement District.