News
Provident Realty Lands $122M for Historic Houston Mixed-Use
HFF secured a floating-rate bridge loan through TPG RE Finance Trust. The financing will be used for redeveloping The Star, which will feature 286 units.
Electra America Buys 5th San Antonio Property
Built in 2013, Pecan Springs is a 344-unit garden-style community. The property is currently 95 percent occupied.
Bascom Expands CA Footprint With $17M Buy
Casanova Grove is a 76-unit community located in Monterey.
How Mission Lenders Fueled Motor City’s Comeback
After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.
JV Secures $130M Senior Loan for Minneapolis Condos
Provident Real Estate Ventures and Shamrock Properties Inc. will develop The Legacy, a 374‐unit property that will include an eight‐story podium with a 14‐story and a 17‐story tower, along with three levels of subterranean parking.
Boston Affordable Housing Gets $14M Renovation
LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.
Mallory & Evans Brings Student Housing to SC, AL
The company is adding Bellamy Coastal and Bellamy Florence to its luxury student housing brand. Totaling $56 million, the two communities are scheduled for completion by fall 2018.
Bellwether Enterprise Closes $51M Refi
The company arranged the refinancing of Alley 111, a 12-story apartment building offering a mix of studios, one- and two-bedroom units, along with 4,000 square feet of retail space.
FL Mixed-Use Community Adds Multifamily Component
Edera at Coconut Point will be the only residential rental property within the 500-acre, master-planned, mixed-use development.
HFF Arranges Sale, Financing of Metro Houston Apartments
Hilltop Residential is the new owner of Villages of Cypress Creek, a 384-unit, Class A community in the city’s northwest suburb of Cypress, Texas.