News
Minnesota Owner Buys Florida Apartments
Dominium, a multifamily landlord based in Minneapolis, has acquired St. Cloud Village Apartments in Kissimmee, a suburb of Orlando, for an unspecified price. The property includes 208 units of affordable housing.
TODAY’S DEALS: Steadfast Adds $56M in Apartment Assets to Portfolio
Steadfast Income REIT acquires 633 units; ARA brokers a 271-unit sale in San Antonio; and Johnson Capital’s Denver office arranges a $10.8 million 35-year FHA permanent loan.
RED Hires Jim Hensley to Head Origination Teams and Lead Expansion Efforts
Red Mortgage Capital LLC, the mortgage banking arm of RED Capital Group LLC announced the addition of James P. Hensley as a senior managing director to its senior management team.
WXY + West 8 Makes Short List in ‘Rebuild by Design’ Challenge
The WXY + West 8 Team has been chosen as one of 10 international teams that will take part in Stages 2 and 3 of “Rebuild By Design,” a design competition aimed at promoting resilience in the region affected by Hurricane Sandy.
Economy Watch: Housing Starts Up in July
Housing starts continued their upward trajectory in July, with private starts coming in at an annualized rate of 896,000 units, a 5.9 percent increase compared with June, the Census Bureau reported.
Hell’s Kitchen Transformation Underway with Gotham West Opening
This month marks the highly anticipated opening of Gotham West, the 32-story, 554-unit luxury apartment community in Hell’s Kitchen. Surrounded by 10,000 square feet of landscaped outdoor space, Gotham West is located at 550 West 45th St. on the corner of 11th Ave., and was developed by Gotham Organization, Inc., a company no stranger to Hell’s Kitchen.
TODAY’S DEALS: NorthMarq Arranges $23.25M Life Insurance Company Loan with Advance Rate Lock
NorthMarq Capital brokers first mortgage refinancing of $23.25 million for Woodlake Apartments in Gurnee, Ill.; and Los Angeles County apartment complex changes hands at $9.9 million.
TODAY’S DEALS: HFF Arranges $33.05M Sale on Behalf of Prime Residential
HFF announced that it has brokered the sale of The Artisan, a 434-unit, garden-style community in Denver; and Alliant Capital closes on a $1.2 million refinance.
BDG Architects and Urban Studio Architects Join Forces to Create New Design Firm
The firm’s name will be BDG Architects and the corporate headquarters office will be in Tampa. Chris Kirschner AIA, NCARB, LEED AP will be the president of the firm.