News
Manhattan Sale Prices Drop: CityRealty Report
The study found that the average cost in the New York City borough continues to drop, but downtown is still thriving when it comes to condo, co-op and new development purchases.
Residents and Public Transportation
When apartments are located in urban—or even suburban or rural—residents sometimes cannot have a car and therefore must rely on public transportation. And when a community is in proximity to a bus or subway, it is often seen as an added bonus. MHN and Kingsley surveyed renters to see what they thought about their transportation options.
Robust Development, Insatiable Demand in Seattle
The city has been one of the strongest rental markets during the current cycle. Over the last five years, average rents have risen nearly $500 to $1,770.
TSB Capital Cinches Timely Loan for GA Student Housing
Located adjacent to the University of Georgia, The Mark Athens is a 300-unit, 928-bed community that offers a mix of units ranging from studio to five-bedroom.
Alden Street Capital Buys FL Student Housing
TSB Realty arranged the sale of the 770-bed student housing property marked the company’s third transaction to an affiliate of Alden Street. The community was built in 2009.
Orlando Affordable Housing Scores $20M Refi
Berkeley Point Capital arranged financing for Sand Lake Pointe Apartments, a 312-unit property. The loan was securitized with Ginnie Mae on a 35-year fully amortizing term.
JV Secures $155M for Miami Condos
Terra, New Valley, Great Eagle Holdings and Bizzi & Partners secured the construction financing for Eighty Seven Park, a 66-unit tower featuring luxury amenities such as a butler service, juice bar and full-time botanist.
Western National Begins Construction of Luxury CA Development
The company has started building its 11th property in Brea. Calligraphy, a 206-unit community, is expected to be completed in early 2019.
August Continues Rent-Gain Streak
The economy is doing well and multifamily demand has been consistent, so supply has been one of the trouble spots. However, rents have still increased every month during 2017.
DMG Investments Tops Out on NJ Luxury Condo Asset
While completion of the 204-unit One Park in Cliffside Park, N.J., is scheduled for fall 2018, Halstead Property Development Marketing recently opened an onsite sales gallery.