News
Hunt Mortgage Refis Loan on Memphis Apartments
Highland Meadows benefits from the Fannie Mae loan, which will help upgrade the 588-unit, garden-style apartment property, built in 1975.
Pillar Refinances 2 Indianapolis Communities
The $23.3 million in Fannie Mae loans will pay for green property improvements at Echo Ridge and English Village, two communities located on the southeast side of the city.
Beverly Hills Firm Enters NC Market With $37M Buy
Peter Sherman, Craig Cadwallader, Grant Linderman and Sam Chow with Avison Young represented Inco Montera, the buyer of Woodfield Glen Apartments in Raleigh. ARA Newmark worked on behalf of the seller, Grayco Inc.
Automate the Building Materials Procurement Process
Yardi’s Procure to Pay platform streamlines the process of obtaining the necessary items for a multifamily property to run smoothly.
Davlyn Acquires Luxury CA Community for $24M
Colony is an 88-unit, Class A apartment property in Simi Valley, Calif. The company plans to rebrand and renovate the building, as well as enhance staffing and marketing.
JV Invests $148M in 2 Luxury AZ Assets
Bascom Arizona Ventures and Pacific Life Insurance Co. acquired Legend at Kierland and Tradition at Kierland, totaling 724 units. Quadrant Real Estate Advisors provided debt financing arranged by CBRE.
Jehovah’s Witnesses Sells Historic Brooklyn Asset
Formerly a hotel known as “the aristocrat of Brooklyn Heights,” the 295-unit The Towers will be redeveloped into Brooklyn’s first luxury senior housing community.
PAC Invests in 792-Bed Atlanta Asset
Stadium Village had an average rental rate of $2,776 per unit as of September. Preferred Campus Management will manage the business and operations for the joint venture.
Capital One Closes $17M Student Housing Refi
The 341-bed International Village serves students at the University of California Riverside and has an occupancy rate of 93 percent.
Gershman Closes Bridge Loan for Baton Rouge Property
Michael Thomas, vice president at Gershman Mortgage Denver, arranged financing for Pelican Bay Apartments in Louisiana, which features 152 affordable units.