News
IPA Brokers $20M Value-Add Sale in Tucson
The new owner will capitalize on the improvements made by the seller, which led to an 18.5 percent increase in the average monthly rent, compared to last year.
Prudent Growth Fetches 110-Unit NC Asset
Senior Investment Advisor Nathan Vaughan of Waterstone Multifamily Group brokered the transaction, which marks the company’s first acquisition in the eastern part of the state.
Hunt Mortgage Secures $2M Refi of Age-Restricted Property
The 55-plus community in Boise, Idaho, features 57 units. Freddie Mac provided the $1.8 million refinancing with a 30-year amortization schedule.
CA Senior Housing Sells for Record $16M
Parkwood at Polo Grounds has changed hands in a record sale for apartment communities in Indio, Calif. The age-restricted community features 125 units.
Pinnacle Completes Miami Mixed-Income Community
The company delivered Pinnacle Heights, a 109-unit community largely designated for residents earning 60 percent or less of the area’s median income. The $35 million property also includes a few market-rate apartments.
Airbnb Intensifies Gentrification Across NYC Communities: Report
According to a ShareBetter coalition report, short-term rentals have removed as many as 13,500 housing units yearly, with 66 percent of revenue being derived from illegal listings.
Hunt Mortgage Refinances 2 FL Properties
The company secured $25 million in Fannie Mae loans for properties in Miami and Palm Beach County.
Champion Snaps Up 2 in Glendale
Champion Real Estate Co. acquired the 42-unit Princess Louise and 62-unit Windsor Real. The company has plans for a variety of upgrades to each of the properties.
On the Market: 5 Interesting Listings for the Week of 1/29
This week’s listings include a portfolio investment opportunity in Prince George’s County, Md., a new development in the Irvington neighborhood of Portland and an affordable housing community in Dallas.
Luxury Community to Grace Jersey City
The 377-unit Soho Lofts brings a blend of urban details, industrial finishes and high-end lifestyle amenities to the city’s up-and-coming SoHo West neighborhood.