News
Santee Court Deal Shows Investor Interest in Adaptive Reuse Multifamily
Los Angeles–Santee Court, a 165-unit adaptive reuse multifamily property in three closely related downtown Los Angeles buildings, has traded hands for $31.1 million.
DEAL OF THE DAY: NorthMarq Arranges $44M Mortgage at 4.04% Interest on Behalf of Amli
Woodridge, Ill.–Frank Relihan, vice president, Kenneth Gentzel, senior vice president and managing director and Gary McGlynn, senior vice president and managing director of NorthMarq’s Washington, DC Regional office arranged first mortgage financing of $44 million for AMLI at Seven Bridges, a 520-unit multifamily complex located at 6566 Double Eagle Drive in Woodridge, Ill.
Oak Residential Enters Indianapolis Market
Deerfield, IL–Oak Residential Partners, LLC closed on its second multifamily investment in the Indianapolis area in two months, the 146-unit Grande Reserve at Geist Apartments.
U.S. Green Building Council LEED-Certified Properties Reach 1B-SF Mark
The Washington, D.C.-based organization just announced that the square footage of commercial projects certified under its LEED Green Building Rating System has exceeded 1 billion square feet around the world.
DEAL OF THE DAY: KeyBank Provides $106M in Seniors Housing Financing in New Jersey
East Brunswick, N.J.–KeyBank Real Estate Capital provided $106.7 million in Freddie Mac funding for seven assisted living and age-restricted communities in New Jersey.
Edward Scott Appointed to Spearhead Kislak’s Florida Expansion
J.I. Kislak Mortgage LLC has appointed Edward Scott to senior vice president and southeast divisional manager.
OneWest Cuts $1.4B Deal With Citi Holdings
OneWest Bank FSB has purchased a $1.4 billion multifamily and commercial real estate loan portfolio from Citibank NA’s Citi Holdings division.
Rezoning the Key at Marque at Heritage Hunt
Gainesville, Va.–For a seniors housing property, rezoning was the key to clearing the credit crunch hurdle.
DEAL OF THE DAY: Stalled Condo Project in Scottsdale, Ariz. Sells for $237,800 Per Unit
Scottsdale, Ariz.–Hendricks and Partners brokered the sale of the former condo project Ten Wine Lofts, located at 7126 E. Osborn Road in Scottsdale, Ariz.
Houston Condo Development Sold After Protracted Bankruptcy Proceedings
Houston–Gramercy Park Condominiums, a mid-rise multifamily property in the Medical Center submarket of Houston, has been sold out of bankruptcy.