News
PB Bell Begins Construction on AZ Senior Housing
In partnership with Cadence Senior Living, the company is developing Inspira Arrowhead, a 165-unit senior housing community in Glendale, Ariz., that will feature both independent living and memory care apartments.
Rapid Job Gains Reshape Tampa
Solid fundamentals and above-trend employment growth spur demand for multifamily product across the metro, leading to significant rent increases. Transaction volume is also robust, while deliveries are expected to hit a cycle peak by the end of the year.
JV Buys 649-Bed KY Student Housing
Campus First Student Living and CF Real Estate Services acquired The LEX, a 266-unit community serving students attending the University of Kentucky.
DC Community Trades for $10M
Greysteel brokered the sale of Cascade Park Apartments on behalf of NOVO Properties, located within minutes of the Capitol Riverfront. According to Yardi Matrix data, occupancy is currently at 94 percent.
San Jose Luxury Development Lands $201M
HFF worked on behalf of Greystar to secure the construction loan through Otéra Capital. The Reserve is expected to be completed in 2020.
JV Completes University of OK Residential Colleges
Construction of the two residential colleges, which opened this August, started in 2015. Headington and Dunham comprise a total of 600 beds.
GA Development Commands $59M
Fairfield Residential acquired Trees of Avalon, a 500-unit community in McDonough, Ga., from Watkins Real Estate Group.
Western Securities to Expand TX Community
Designed by BGO Architects, Phase II of Mustang Station in Farmers Branch, Texas, will encompass 186 units. KWA Construction serves as the general contractor on the project.
Bell Partners Acquires Annapolis Asset
The company purchased the now rebranded Bell Annapolis on West, a 300-unit community. Including this property, Bell Partners has completed $645 million in multifamily acquisitions in 2017.
Airbnb, FL Developer Roll Out Home-Sharing Plan
Newgard Development Group is working with the home-sharing company to form Niido, which will own a 324-unit apartment building in Kissimmee, Fla. Residents can share their units and access various tools, including a new app that supports checking in and assisting guests.