Luxury
TODAY’S DEALS: AEW Buys 128-Unit Hoboken Asset for $67M
AEW Capital Management completes a Hoboken buy; Bloomfield Capital closes a $3.3 million bridge loan for a Houston property; and Arbor Commercial Mortgage funds $9.6 million in FHA financing for a portfolio of properties in Puerto Rico.
Pollack Shores Acquires Luxury Community for $28.2M
Pollack Shores Real Estate Group has recently acquired a 252-unit multifamily community in Melbourne, Fla., for $28.2 million. The community, called Polo Glen Apartments, is currently 94 percent occupied.
BEMT Invests in 24-Story Mixed-Use Luxury Rental Community
Bluerock Enhanced Multifamily Trust has recently announced its investment in MDA City Apartments, a mixed-use luxury rental community in downtown Chicago. The New York-based non-traded real estate investment trust has partnered with Village Green, the owner of the 24-story building. Village Green is an owner / operator with a portfolio of around 40,000 units in 13 states.
Construction Slated to Begin on $148M Joint Venture
Construction will begin later this year on a $148 million luxury community in Evanston, Ill. The project, which was recently approved by the Evanston City Council, was proposed by a joint venture between developers Fifield Cos. and Carroll Properties.
TODAY’S DEALS: Brandywine, Campus Crest and HSRE Partner on $158.5M Project
A joint venture announces a student housing tower in Philadelphia; HFF lands $72 million for a Hoboken refinancing; and Centerline provides $43.1 million in acquisition financing for a Houston asset.
TODAY’S DEALS: Steadfast Buys San Antonio-Area Asset for $34.6M
Steadfast Income REIT closes a 288-unit buy; Kislak Company brokers two sales in Pensacola, Fla.; and UC Funding provides a $4 million investment to facilitate a recapitalization in Florida.
Sterling at Silverleaf Phase Two Coming to Scottsdale
Plans were finalized in mid-January for phase two of Sterling at Silverleaf in Scottsdale, Ariz. A dozen luxury villas starting at $2.2 million will break ground in early spring, with a phase three of 213 luxury condominiums to follow.
Mill Creek Residential Announces New Glendale Luxury Apartment Community
Located at 610, N, Central Avenue, the site will be the home of a new, six-story, mid-rise, high-end apartment structure, one of the first properties of its kind for the developer. Resident amenities will include an underground parking facility, a resort-style pool and spa, an around-the-clock fitness center and yoga facility, a resident clubroom featuring a kitchen and business center, as well as two rooftop decks offering views of the nearby Verdugo Mountains.
Jefferson Apartment Group to Develop Luxury Community Near Johns Hopkins
Jefferson Apartment Group recently broke ground on a residential community in East Baltimore near Johns Hopkins Medical Center.
TODAY’S DEALS: Mack-Cali Buys Two Luxury Properties in Boston MSA
Mack-Cali buys two luxury assets for $150 million; Johnson Capital arranges record loan value per unit of $525,000 per unit; and Marcus & Millichap sells a Delaware property for $5.8 million.