News
Stop Mold Before it Starts
Mold is the stuff of nightmares for developers, owners and property managers. By the time you find mold in a community there is usually an expensive and time consuming remediation process on the horizon. The last thing any apartment owner wants is a health risk for their residents, so every dollar you use to prevent mold is a dollar well spent
CPDC Acquires Norfolk Apartment Communities for $20M
Community Preservation and Development Corp. has acquired Woodmere Trace, a 300-unit workforce housing property in Norfolk, Va.
Laramar Group Names Matt Levy VP of Acquisitions
The Laramar Group, a national real estate investment and management company, announced today the hiring of Matt Levy as vice president of acquisitions in the company’s Los Angeles office.
Berkeley Point Executes $325M in Refinancing for The Gateway in San Francisco
Berkeley Point Capital, along with Freddie Mac, recently closed on the largest single-asset loan in its company history. The 10-year, $325 million refinance loan for The Gateway, a 7.74 acre San Francisco property, was locked-in at a fixed rate of 3.38 percent and is a full-term, interest-only loan.
TODAY’S DEALS: The Abbey Group Lands $123.6M for Boston Apartment Development
HFF arranges a $123.6 million construction loan; UC Funding provides a $16.8 million loan for a San Antonio acquisition; and Principal Real Estate Investors completes a $15 million disposition in Arizona.
Transwestern to Establish Major Presence in Boston with Acquisition of Richards Barry Joyce & Partners
Transwestern’s Houston headquarters announced it is acquiring Richards Barry Joyce & Partners LLC (RBJ), a full-service real estate firm based in Boston. Establishing its 34th U.S. office, Transwestern achieves a significant presence in the Boston market.
Cantor-Pecorella to Sell Historic NYC Building-Turned-Condos
Rutherford Place at Stuyvesant Square, which is listed on the National Register of Historic Places, is being transformed into 78 one-of-a-kind, new condominium homes that are being sold by Cantor-Pecorella, the building’s exclusive sales and marketing firm.
Economy Watch: Consumer Credit Sees Uptick
The Federal Reserve reported that U.S. consumer credit was up again, increasing at an annualized rate of 4.5 percent in July.
Arker Cos. Acquires Affordable Apartments on Staten Island for $27M
Two affordable housing properties in the New York borough of Staten Island have traded hands for a combined total of $27 million.
MHN Interview: Jill Pilaroscia on the Art and Science of Multifamily Color Choices
Colour Studio offers full service color consulting for exterior and interior color selection. An ‘art and science’ approach takes into consideration the architecture, site, geographic location and the demographic profile of the users.