Luxury
CBRE Provides $14M for Historic Cincinnati Asset
The company closed the refinancing of The Reserve at 4th and Race, an 88-unit community in the CBD. Mark Tran, senior vice president of CBRE Columbus, originated the loan.
Park and Shore Tops Out in NJ
Upon completion, Strategic Capital’s two-building luxury development will bring a total of 429 units to the Jersey City market, marking the Newport neighborhood’s first waterfront condominium in 10 years.
On the Market: 4 Interesting Listings for the Week of 3/26
This week’s listings include a 100 percent-occupied luxury community in downtown Baltimore, student housing near Philadelphia’s universities and a recently renovated value-add opportunity in Columbus, Ohio.
Highpointe Communities to Open TX Luxury Apartments
The company is planning an 835-unit master-planned community in San Marcos that is scheduled to open in 2019. The development will feature a school, a public park land, five private neighborhood parks, and an amenity center.
Forest City Trades Brooklyn Property for $156M
Principal Global Investors acquired 461 Dean, a 363-unit community—50 units of which are affordable—that opened in late 2016.
Portland Luxury Community Opens Doors
Mill Creek’s Modera Belmont broke ground in May 2016 and features 200 units and more than 10,000 square feet of retail space.
Carmel Partners Sells $129M Upscale Denver Property
Westend, a 390-unit property built in 2015, was 93.5 percent occupied at the time of the sale.
LeCesse Begins 2nd Phase of Orlando Development
The 312-unit BellaNova at JubiLee Park, located about two miles from the city’s airport, is anticipated to open in the summer of 2019.
Luxury Raleigh Community Breaks Ground
The first phase of Exchange at Holly Springs is slated to bring 316 units across 11 buildings, with a second phase in early planning stages.
Encore Kicks Off Ft. Lauderdale High-Rise
The Rise Flagler Village is part of Encore Capital Management’s luxury The Rise product brand and is scheduled for completion in early 2020.