Market Rate
Scully Co. Expands NJ Community
The developer will add 220 units to Hamilton Greene in Mays Landing. Completion of the new component, The Glades at Hamilton Greene, is scheduled for 2021.
Tampa Property Sells for $34M
Read Property Group sold the 310-unit, garden-style community located approximately 10 miles from downtown Tampa. The sale was subject to a $24.8 million-Fannie Mae loan.
Blackfin, GMF Acquire 600-Unit Community in Virginia Beach, VA
The value-add acquisition of Baker Crossing marks the companies’ first partnership. The property last changed hands in 2005 for $31.5 million.
Colliers International Handles $70M Sale of AZ Property
P.B. Bell sold Laguna Village, a 31-building Class B community in Chandler, to Bridge Acquisitions. The new owner will complete the modernization of the property to increase the asset’s market value.
Phoenix-Area Property Changes Hands for $12M
Dougherty Mortgage originated a $9.5 million Fannie Mae loan for the acquisition of the 120-unit Tuscano Village in Glendale.
Berkadia Secures Acquisition Loan for AL Community
Senior Managing Directors Charles Foschini and Mitch Sinberg, Managing Director Chris Apone and Associate Director Matthew Robbins arranged the financing for the 244-unit asset.
Phoenix Community Sells for $25M
Investors Capital Group financed the purchase of the 184-unit Class B multifamily asset through a Fannie Mae line of credit originated by Berkadia.
St. Louis-Area Community Opens Doors
ZM Management broke ground on the 381-unit development in 2013. The owner financed construction with two loans totaling $21 million.
WA Community Changes Hands
Madison Residential purchased the 63-unit Class B asset for approximately $10 million, with Opus Bank providing more than $7 million in acquisition financing.
Berkadia Arranges $37M Loan for WA Community
The company secured the loan through New Jersey-based PGIM Real Estate Finance on behalf of the borrower, Madison VK LLC.