News
Scuff-Resistant Paint: An Industry First
Benjamin Moore’s newest product is specially formulated for high-traffic commercial environments, and is available in two sizes and more than 3,500 colors.
3 Assets Trade in Newark
Gebroe-Hammer Associates facilitated two deals for the New Jersey properties. The three-story communities total 95 units in the Upper and Lower Roseville neighborhoods of the city.
Portland’s Charm
The city’s multifamily demand remains elevated, fueled by a healthy job market and an influx of young people for professional and lifestyle purposes.
CBRE Secures $90M for Phoenix Community
The Capital Markets Debt & Structured Finance team arranged the financing for San Sonoma, a 590-unit property with an average rental rate of $1,373.
Oden Hughes Breaks Ground on San Antonio Project
The 308-unit community is being built as part of The Rim, a 700-acre mixed-use development that also includes office and retail. Residences are scheduled to open in mid-2018.
Allied Orion Tapped to Manage Houston’s Bayou on Bend
The Arel Capital-owned 242-unit luxury property is located in the Memorial neighborhood, overlooking the downtown district. The community includes more than 60 floor-plan variations, as well as some two-story units.
JPI Lands $132M for Jefferson Stadium Park Phase II
The project is part of a three-phase, master-planned development in Anaheim’s Platinum Triangle. The property will feature 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of retail.
Griffin-American Healthcare REIT Nabs Senior Housing Portfolio
American Healthcare Investors and Griffin Capital Co. LLC’s REIT acquired a five-building portfolio of independent and assisted living properties. The portfolio is 100 percent leased.
Berkadia Secures $25M Loan for TX Community
Berkadia arranged the acquisition loan on behalf of Faudree Ranch Apartments LLC. The 300-unit community in Odessa, Texas, was 90 percent occupied at the time of the transaction.
Economy Watch: Americans Earn More, Spend More in April
The month’s increase in personal income was mainly because of a boost in private wages and salaries, the BEA reported. This bodes well for the wider economy, since wages have lagged productivity for so long.