News
Carmel Partners and KTGY Group Begin Construction on Sustainable Community
Carmel Partners of San Francisco has announced that it has started construction on Carmel Loft House, a mixed-use development in Sunnyvale, Calif. The community will be a sustainable, urban infill development.
Related Group Purchases $18.5M Mixed-Use Site
Another Related Group apartment development could rise at the intersection of Coral Way and South Miami Avenue, as the company recently closed on the $18.5 million purchase of a 1.29-acre mixed-use development site.
Champion Buys Burbank Apartments for $15.6M
Champion Real Estate Cos. has acquired Villa 600, a 62-unit apartment building at 600 E. Olive Ave. in Burbank for nearly $15.6 million. The asset was built by architect August Bacchetta in 1973 and was owned by the original builder’s family until the recent sale.
TODAY’S DEALS: Elco Landmark, Timbercreek JV Acquires 1,380-Unit Portfolio
Elco, Timbercreek complete a four-property JV buy; and The RADCO Cos. completes seven Georgia purchases in the past two weeks.
Algae Architecture: Building with Green Slime
Net-zero building has come a long way since its nascent stages.
Anaheim Luxury Apartment Community Opens for Leasing
Vivere Apartments, a 92-unit apartment community in Anaheim, Calif., has opened for preview leasing.
Economy Watch: Fiscal Cliff Bill Passes Congress
In an exceedingly rare flurry of activity on a federal holiday (namely New Year’s Day 2013), Congress acted to forestall the fiscal cliff.
TODAY’S DEALS: Mckinley Completes Third Ann Arbor Apartment Acquisition for 2012
McKinley purchases 120-unit community in Ann Arbor, Mich., and now owns more than 5,400 units in the region; and Johnson Capital arranges sub-4 percent, $14 million, refinance loans from bank that beat agency terms.
Advenir Acquires $49.1M Denver Community
Advenir, a multifamily real estate investment company, has acquired a 420-unit community in Denver for $49.1 million. The seller was Carmel Partners, who purchased and renovated the property in 2005.