News
Marcus & Millichap Sells $48M Community
A partnership between Millcreek and a global real estate investment manager sold the 134-unit property near downtown Portland. The luxury community, Modera Goose Hollow, is LEED Gold-certified.
SALT Luxury Residences Open in Tempe
SALT, Tempe’s first luxury residential community opened in February 2017. The class A apartment building was developed by OlliverMcMillan in partnership with Ascentris.
REIT Nabs $57M NC Community
Bluerock Residential Growth REIT acquired Wesley Village, a 301-unit property in Charlotte that the company plans to upgrade. The transaction was made possible through the assumption of a $41 million Freddie Mac loan.
Robbins Electra Closes Third Atlanta Purchase
The company purchased Oakley Park, a 240-unit residential community for $28.4 million, considerably more than when it last changed hands in 2014.
Tougher Times for Apartment Development?
According to Chicago multifamily experts speaking at the Marcus & Millichap/IPA Multifamily Forum Chicago, it’s currently difficult to get new developments off the ground. But, there could be hope.
IW25 In-Wall Dehumidifier
Innovative Dehumidifier Systems is touting its debut product as the only multifamily-unit-size dehumidifier on the market. The freestanding product is discreet and works automatically, removing as much as 22 gallons of water in one unit per week.
Walker & Dunlop Lines Up $100M in Financing for Texas Deal
The six bridge loans were secured through a regional bank and will ensure financing for the acquisition and renovation of a 1,795-unit portfolio.
From Dentistry School to Luxury Condos
Trumark Urban developed the 76-unit community, which includes 60 flats, six triplex townhomes and 10 townhouses. The architectural firm Handel Architects maintained the original façade while designing three-dimensional window bays and floor-to-ceiling glass windows for expansive views, enhancing the building’s geometric presence.
Resource Residential Revamps 400-Unit OC Community
The Bryant at Yorba Linda Apartment Homes is undergoing a multimillion-dollar renovation.
Top 10 Apartment Owners in Los Angeles
Ballooning home prices have made homeownership more difficult, and in turn put downward pressure on apartment vacancy rates. The pronounced need for housing has resulted in a construction boom, and there are no signs of a slowdown.