Luxury
US Rent Growth Falls Below Long-Term Average
Average U.S. monthly rents increased by $3 to $1,314, the smallest growth seen since April 2011, when rates increased 1.5 percent.
Berkadia Closes Largest San Diego Apartment Transaction
American Assets Trust acquired Pacific Ridge, a $232 million luxury community that includes 533 units and is 95 percent occupied.
Hines, McCaffery Break Ground in Chicago
A new mixed-use building anchoring the Lincoln Park neighborhood is set to rise on the former Children’s Memorial Hospital site.
SummerHill Wraps Santa Clara Luxury Community
The company broke ground on the 186-unit property designed by KTGY Architecture + Planning at the end of 2014. The four-story property features one- and two-bedroom luxury apartments ranging from 758 to 1,378 square feet.
Brooklyn Luxury Apartments Land $120M Loan
Square Mile Capital Management originated the loan on behalf of developer Lightstone, which completed construction in March 2016. The apartment community comprises 344 market-rate and 86 affordable units.
On the Market: 5 Interesting Listings for the Week of 5/1
This week’s listings include a Katy, Texas, property situated on 13 acres and a modern luxury condo development with full entitlements in Scottsdale, Ariz.
Downtown Manhattan Apartments Land $375M Refi
Hunton & Williams LLP acted on behalf of the owners to secure the mortgage and mezzanine loans through Brookfield Real Estate Financial Partners.
Luxury Condo Makes Its Debut in Manhattan
The recently completed 14-unit residential building at 225 W. 17 St. in Chelsea has been designed by award-winning Roger Partners Architects and Neal Beckstedt Studio.
Portland on the Park Welcomes First Residents in Phoenix
Habitat Metro and Sunbelt Holdings developed the project, which is already 72 percent sold. The property is the second and final phase of the Portland Place mixed-use development.
First Phase of Imperial Valley Luxury Community Completed
Sunrise Management is in charge of marketing, management and leasing of the 240-unit project in El Centro, Calif., designed by TSA Architects.