Finance & Investment
Robbins Electra Snags Atlanta-Area Portfolio
The 920-unit, three-property portfolio includes Marbella Place in Stockbridge, The Parke at Oakley in Fairburn and Belle Vista in Lithonia.
Dallas Apartments Receive $11M Fannie Mae Financing
Located in Waco, Texas, the 256-unit residential community received a 10-year Fannie Mae loan with a 30-year amortization schedule. Doughtery Mortgage, a conventional and affordable debt provider headquartered in Minneapolis, secured the financing on behalf of Upper Level Acquisitions II LLC, a Texas-based entity.
Germany’s BVK to Invest $805M in US Multifamily
The company started a USAA Real Estate Company-sponsored evergreen independent account to target core, build-to-core and value-add acquisitions.
TriBridge Residential Lands Fourth Charlotte Property
The Atlanta-based company acquired Morehead West Apartments, a 211-unit North Carolina community, for $31 million. The property includes a 5,600-square-foot commercial space.
The Cost of Green: Is the Price Right?
By some measures, sustainable practices are rapidly becoming the norm in the multifamily sector. Although sizing up the true costs of sustainability can be challenging, investors and managers have a variety of best practices and analytical tools to work with.
JV Nabs $37M East Bay Value-Add Apartments
Trion Properties and DVO Real Estate plan to modernize the 146-unit property in San Leandro, Calif., which was built in 1967.
Starwood Receives $250M Loan to Acquire 11 Properties
The portfolio, built between 1985 and 2002, contains 2,136 units, located in Washington, Oregon, Colorado and Arizona. Twenty-five percent of the loan balance qualifies as affordable and is exempt from Freddie Mac’s production cap.
Timbers Resorts Lands $50M Financing for SC Residential Project
HFF secured the construction financing from Mosaic Real Estate Credit LLC for Timbers Resorts to develop Timbers Kiawah – Ocean Club & Residences, the first private residence club on Kiawah Island.
Friedman Sells 58-Unit Detroit Community
9501 Iris Manor LLC purchased Iris Manor from Thornton Enterprise LLC. The three-story property features one- and two-bedroom units and is close to Wayne State University and the University of Michigan-Dearborn.
On the Market: 5 Interesting Listings for the Week of 4/3
This week’s assets include two student housing properties: a 528-bed community with a pool located less than half a mile from Georgia Southern University and a sleek 2017-built property near the University of Texas in Austin.