News
Work Gets Underway on Wellness-Centric St. Clair Apartments for Seniors in Tennessee
Maryville, Tenn.–St. Clair Apartments at Asbury Place Merryville, a continuing care retirement community (CCRC) in Maryville, Tenn., moves closer to becoming a reality as Asbury Inc. commences construction of the independent living apartment building.
Ground Breaks on Gleneagles II Apartments in Master Planned Southern Maryland Community
Charles County, Md.–Saint Charles, a 9,100-acre master planned community that American Community Properties Trust (ACPT) is developing in Charles County in Southern Maryland, continues to fill out.
DEAL OF THE DAY: Kislak Brokers Sale of Bank-Owned Property for $460,000 in Market Seeing Increased Demand for Smaller Properties
Hillside, N.J.–The Kislak Company Inc. announced the sale of a bank-owned mixed-use retail and multifamily property in Hillside, N.J. for $460,000. Vice President Jeffrey Squires represented both parties in the transaction.
Apartments Lead the Commercial Real Estate Pack in Recovery
New York–Apartment properties have been the first kind of commercial real estate to show signs of genuine recovery this year, and the outlook is even better.
Toledo Seniors Housing Set to Expand
Toledo–The Lakewoods seniors housing complex in Toledo has obtained the necessary capital to expand, according the Huntington Bank, which is supplying part of the funds.
MHN Interview with Dale Phillips: We Think Las Vegas Is Ripe with Opportunity
Scottsdale, Ariz.–Dale Phillips talks to MHN about the shift in Mark-Taylor’s growth strategy and why, despite Las Vegas’ destroyed real estate landscape, the company thinks it’s a good place to invest.
DEAL OF THE DAY: CB Richard Ellis Fund Acquires Apartment Community in S. Florida
Pembroke Pines, Fla.–The CB Richard Ellis Strategic Partners U.S. Value 5 fund has purchased The Resort at Pembroke Pines, a 1,520-unit garden-style apartment community in southern Florida that is 94 percent occupied, via CB Richard Ellis Investors’ Multi-Housing Group.
Land Purchase and Financing Kickstart $47M Suburban Denver Apartment Project
Littleton, Colo.–In a Denver suburb named Littleton, where the limited amount of land for apartment projects is highly coveted, Wood Partners L.L.C. has taken two major steps forward in the development of the 280-unit Alta Aspen Grove.
St. Andrews Apartments in Stamford Poised to Begin
Stamford, Conn.–RiverOak Investment Corp., a private investor, and RMS Construction have formed a joint venture to begin work on the St. Andrews Apartments in downtown Stamford.
DEAL OF THE DAY: Raintree Acquires $68.2M Property, Loan Carries 4.18% Interest
San Diego–Raintree Partners completed the acquisition of Trieste Apartment Villas, a 302-unit multifamily community in the La Jolla area of San Diego County, Calif. The purchase price was $68.2 million, according to Jeff Allen, CEO of Raintree Partners.