News
Western Markets Dominate Rent Growth
From Seattle to San Diego, many tech-driven, Millennial-attracting markets have experienced continuous rent growth above previous averages.
MPE Partners Receives Funding to Acquire Cincinnati Apartments
Hunt Mortgage Group secured acquisition financing from Freddie Mac for 170 garden-style units on two parcels totaling about 8.5 acres. The property consists of eight residential buildings plus a leasing office and maintenance building.
$73M Rehabilitation of SoCal Affordable Community Underway
The redevelopment of the 268-unit project by Community Preservation Partners marks the biggest tax credit in Indio, Calif. The second phase is slated for completion by the end of the year.
HPI Acquires $23M Atlanta-Area Community
This marks the final acquisition by HPI Real Estate Fund IV, which closed to new investors in December 2016 after purchasing 12 properties totaling 2,616 units.
Orlando Apartments Change Hands for $22M
Dominium Management Services procured the 304-unit community from Fieldstone Properties. The company plans to do a “significant” rehab on the amenities.
Trade Groups in Effort to Fix Bank Lending Rules
Proposed legislation would maintain high-volatility commercial real estate’s higher capital charges, but clarify which loans are subject to the rules.
29th Street Capital Buys 12th Bay Area Community
The acquisition of the 79-unit community in San Leandro, Calif., brings the company’s multifamily portfolio to more than 7,600 units. As part of its value-add investment strategy, the company plans to invest $2.3 million in capital improvements.
Burke Decor’s Wall Patterns Pack a Punch
The commercial wallcoverings are more durable and easier to clean than traditional wallpaper, and the company offers faux finishes replicating the look of wood, marble, tiles and more.
New Owners Secure $25M Refi for Little Rock Apartments
Transcontinental Realty Investors’ and Abode Properties’ property consists of 260 units and is fully leased at market rates. The community was acquired in 2016.
Illinois Senior Living Communities Change Hands
Senior Living Investment Brokerage Inc. sold Keystone Gardens and Keystone Meadows for $12 million. The two properties have nearly 100,000 square feet combined.