News
SF Garden-Style Community Commands $28M
Arbordale Gardens Apartments, following the previous owner’s exterior renovation work, fetched a price tag of more than $385,000 per unit.
Luxury Boutique Community in Brooklyn Hits the Market
Meridian Capital Group will handle the sale of the recently completed Brooklyn Grand, a two-building residential and retail development in Williamsburg.
CBRE Arranges WA Community Sale
Cumberland Holdings purchased the one- and two-bedroom community, which is undergoing upgrades to the windows and sliders.
NHI Acquires Retirement Community in OK
National Health Investors Inc. (NHI) acquired The Country Club of Woodland Hills, located in the eastern suburbs of Tulsa, for $35.1 million.
Landex Development Breaks Ground on DC-Area Apartments
The company’s second residential development project in Brentwood, Md., Artisan 4100 is scheduled to be completed in 2019 and will feature sustainable living options.
29th Street Capital Nabs 10th Phoenix Asset
The company plans to significantly update and renovate the 25-building community following the sale’s close.
KeyBank Secures $56M for MD Community
Verde at Greenbelt Station is a 302-unit, LEED-certified luxury apartment community in Prince George’s County, Md. The refinancing was implemented through Freddie Mac’s Lease-Up Program.
Prescient Launches New Investment Vehicle
The BIM design and building platform, which reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, has created Powered by Prescient. The subsidiary will acquire minority stakes in real estate development projects throughout the country. MHN talked with the company’s management to find out more about this new private equity firm.
Miami Mixed-Use Tops Off
Developed by CADE Capital Partners, Riverview Tower will comprise 100 units and 1,168 square feet of ground-floor retail space. The property first broke ground in January 2017 and is scheduled for completion by late 2018.
PGIM, Hanover Snap Up Houston Property
The JV has acquired Mosaic at Hermann Park, a 396-unit community with 20,087 square feet of ground-floor retail space.