News
TriBridge Residential Lands Fourth Charlotte Property
The Atlanta-based company acquired Morehead West Apartments, a 211-unit North Carolina community, for $31 million. The property includes a 5,600-square-foot commercial space.
JV Nabs $37M East Bay Value-Add Apartments
Trion Properties and DVO Real Estate plan to modernize the 146-unit property in San Leandro, Calif., which was built in 1967.
Starwood Receives $250M Loan to Acquire 11 Properties
The portfolio, built between 1985 and 2002, contains 2,136 units, located in Washington, Oregon, Colorado and Arizona. Twenty-five percent of the loan balance qualifies as affordable and is exempt from Freddie Mac’s production cap.
Monument Real Estate Taps New VP
Industry veteran Lesly Jones joined the company as vice president of marketing and leasing. She will oversee and develop marketing services that provide support, tools and solutions to the firm’s multifamily assets.
Timbers Resorts Lands $50M Financing for SC Residential Project
HFF secured the construction financing from Mosaic Real Estate Credit LLC for Timbers Resorts to develop Timbers Kiawah – Ocean Club & Residences, the first private residence club on Kiawah Island.
2-Community Sale Fetches MGPG $68M
The properties, located in Henderson and North Las Vegas, Nev., comprise 641 units. Both communities feature one-, two- and three-bedroom floor plans with high-end amenities.
Why So Serious?
Living in an apartment community is no laughing matter. Or is it? This month, in honor of April Fool’s Day, we paired up with Kingsley Associates to find out what residents joke about.
Friedman Sells 58-Unit Detroit Community
9501 Iris Manor LLC purchased Iris Manor from Thornton Enterprise LLC. The three-story property features one- and two-bedroom units and is close to Wayne State University and the University of Michigan-Dearborn.
HFO Investment Sells $15M Oregon Community
Mactrust LLC acquired the community for $15.2 million, or $90.719 per unit. The buyer plans to continue making improvements to the property, which is located close to an array of green spaces, retail and schools.
Historic Manhattan Apartments to Get New Life
HFZ, along with Robert A.M. Stern Architects, are converting the property, which was designated a New York City landmark in 1966, was added to the National Register of Historic Places in 1980.