News
Stonehenge NYC Names New VP
The firm hired Kunal Chothani, an industry professional who will serve as vice president of acquisitions. Prior to this role, Chothani was head of the New York subsidiary of Akelius Residential Property AB, where he managed transactions and assets valued at more than $1 billion.
Trinity Real Estate Sells Atlanta-Area Community
The buyer paid $11 million for the 352-unit Class C asset, with Arbor Realty Trust providing $12.5 million in acquisition and development financing.
5-Building St. Louis Community Changes Hands
The 104-unit Tuscany Village, built in 1972, last traded in 2014 for nearly $3 million, six months after a foreclosure action.
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Gellar Associates Acquires Baltimore Asset
The buyer, Geller Associates, opted to finance the acquisition under Fannie Mae’s Green Rewards program and will implement energy and water saving measures.
Phoenix Community Trades for $32M
The property, built in 1985, is located in Phoenix’s Metrocenter submarket and was 92 percent occupied as of December, according to Yardi Matrix.
NMHC’s 2019 Apartment Strategies Outlook Conference Coverage
From sessions ranging from an economic outlook and market expectations, to investor obstacles, the conference covered an array of subjects that outline the multifamily market’s future.
Multifamily Brokerage: The Case for Specialization
What can residential agents learn from their commercial counterparts? For one thing, pick a geographic market or price point and get to know it well.
Lion Real Estate Expands Nashville Footprint
The acquisition, valued at more than $13 million, adds 160 units to the firm’s portfolio. The community last changed hands in 1990.
Top 10 Florida Multifamily Completions in 2018
Almost 33,000 units were added to Florida’s multifamily markets last year, 1,300 more than the year before, with major developments completed in each of the state’s key metro areas.