News
Electric Companies Deploy Nationwide Response to Restore Power
An army of more than 53,000 utility workers from around the country, and as far away as Canada, California and Washington state, is joining forces to begin the arduous task of restoring electricity to millions of Americans whose power was interrupted by Hurricane Sandy’s massive wake.
TODAY’S DEALS: IPA Sells $30M Asset On Behalf of Sentinel Real Estate
Institutional Property Advisors (IPA) arranged the sale of Highpoint Club Apartments, a 43-building multifamily community in Orlando, for $86,207 per unit; and Crescent Resources buys 993 acres for a new mixed-use community.
TIAA-CREF Obtains $92M Loan to Buy DC Apartments
MassCourt East End, a 371-unit apartment property in the Mount Vernon Triangle neighborhood of Washington, D.C., has obtained $92.6 million in acquisition financing. Currently the property is 96 percent leased.
Carrfour Supportive Housing Develops $12M Miami Affordable Housing Community
Carrfour Supportive Housing has joined up with Tacolcy Economic Development Corporation and the Florida Housing Finance Corporation to develop a $12 million affordable community called Parkview Gardens in Miami.
Houston Rental Property Acquisition Facilitated by Berkeley Capital
Berkeley Point Capital LLC recently facilitated Baron Properties’ acquisition of AMLI Towne Square Apartments in Houston.
Economy Watch: Sandy’s Costs Already Being Guessed
Sandy is still vexing parts of the Northeast with wind and rain, but it’s already time for preliminary damage estimates.
ARA Sells 300-Unit Community in North Carolina
ARA, an Atlanta-based investment advisory brokerage firm, recently announced the sale of Ashford Green, a 300-unit community in Charlotte, N.C.
On New York Business Disruption of Hurricane Sandy
As Hurricane Sandy disrupts business activity across the nation, professionals located in the heart of New York City are especially feeling the impact close to home and work.
Altman Plans Another Florida Apartment Property
The Altman Cos. has unveiled plans for Altis at Sheridan Village, a 300-unit apartment property on 34 acres in western Pembroke Pines in Broward County.
TODAY’S DEALS: Berkeley Point Arranges $28.179M Construction Loan for TDK
Berkeley Point Capital LLC recently facilitated a $28.2M Federal Housing Administration (FHA) insured loan at an interest rate of 2.89 percent; and Alliant Capital closes on a $2.4M acquisition loan.