News
PA Properties Land $26M
The two assets are situated in Lancaster and Hershey, Pa., and feature 160 units each. Colliers’ capital markets team secured five-year fixed-rate loans for both properties.
2 Phoenix Assets Trade Hands for $7M
CBRE brokered separate deals for The Markley in east Phoenix, which includes 27 units, and Twin Palms near downtown Phoenix, which includes 20 units.
Job Growth Keeps Market Steady in Miami
The metro’s economic profile is diverse, but education and health services; leisure and hospitality; and trade, transportation and utilities continue to drive employment.
Philly’s Presidential City Gets Full Makeover
The luxury community features an upscale swimming resort called Sora Pool Club among other amenities. The property is currently 90 percent leased.
IPA Brokers Sale of Rio Grande Valley Asset
Executive Director Will Balthrope, Senior Director Drew Kile and Associates Jordan Featherston and Joey Tumminello represented the seller and procured the buyer, Presidium. American Agape Foundation is the former owner of the 288-unit property in Harlingen, Texas.
Berkadia Secures $47M Refi for DC Property
The proceeds were used to refinance existing debt and to pay off an 8 percent pre-payment penalty. The loan was secured through the HUD 223(a)(7) Loan Program.
Denver Luxury Asset Trades for $122M
HFF marketed the 465-unit property on behalf of the seller, Lennar Multifamily Communities, and procured the buyer, Starlight Investments.
Aston Martin Lends Design Savvy to Namesake Miami Residences
The sail-shaped, luxury waterfront tower is the sports car company’s first-ever real estate venture. Totaling 391 units, plus duplexes and penthouses, the development is slated for completion in 2021.
Aston Martin Residences Breaks Ground in Miami
Aston Martin and G&G Business Developments’ community, the first condominium to begin construction in downtown Miami this year, includes 391 units.
IL Mixed-Use Development Opens
LMC and Clark Street Real Estate are opening The Emerson, located in Oak Park, Ill., a suburb of Chicago. The community includes 270 units and a retail component.