News
TODAY’S DEALS: Arbor Finances $128.9M in National Multifamily Deals
Arbor Commercial Funding details 14 recent transactions totaling $128.9 million; and SVN Chicago Commercial sells a 34-unit portfolio for $2.3 million.
AXA Real Estate Acquires Mixed-Use Office Asset in Central Tokyo
AXA Real Estate Investment Managers has recently announced the acquisition of the Nishi Shinjuku KF Building in central Tokyo.
Wyndham Hotels and Resorts to Open First Upscale Hotel in Kenya in 2017
New Jersey-based Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide recently announced the signing of a management agreement for its first upscale hospitality property in Africa—the Wyndham Amboseli Golf Resort and Spa, slated to open in 2017.
McShane Construction Selected to Complete 115-Unit MF Community in Park Ridge
High Street Residential has chosen McShane Construction to complete Park 205, a 115-unit luxury multifamily development situated on a 3.6-acre infill site in Park Ridge, Ill.
Economy Watch: Construction Spending Edges Down in August
The Census Bureau reported that U.S. construction spending during August came in at an annualized rate of $961 billion, 0.8 percent below the July rate.
Leasing Begins at The School House at 371 in Manhattan
Residential brokerage firm Modern Spaces has announced that it has kicked off the leasing campaign for the The School House at 371—the former home of P.S. 12 elementary school—in Manhattan’s Lower East Side neighborhood.
Renovation Underway at Houston-Area Estates at Fountain Lake
Northbrook, Ill.-based Prime Property Investors has tapped Greystar Real Estate Partners to oversee leasing and property management at Estates at Fountain Lake, a 13.6-acre rental property in metro Houston that’s being upgraded.
TODAY’S DEALS: Stamford Apartment Community Trades for $75.1M
A 368-unit Stamford apartment asset trades hands with help from IPA/Marcus & Millichap; Greystone provides Presidium with a $19.5 million bridge loan for two Dallas acquisitions; and Raintree Partners acquires 39 units in the San Fernando Valley.
Corigin and East Florida Begin Work on Upper East Side Condos
20 East End Avenue, a condo development on the Upper East Side of Manhattan, is approaching completion. The 17-story building, developed by Corigin Real Estate Group and Florida East Coast Realty, will feature 43 units, with sales managed by Corcoran Sunshine Marketing Group.
Preferred Apartment Communities Acquires Four Apartment Communities
Preferred Apartment Communities (PAC) announced this week it has acquired four multifamily communities comprising a total of 1,397 units.