Market Rate
Ferndale Realty Group Sells Cincinnati Communities
Ardizzone Enterprises purchased Apex and Parkton in a transaction which involved two loans totaling $38.7 million. Merchants Bank of Indiana originated the financing.
Top Multifamily Transactions in TN in 2018
Investment in Tennessee stayed strong in 2018, as Nashville’s appeal only grew following Amazon’s commitment to add jobs to the metro going forward.
MI Community Receives $14M Loan
The 88-unit Gateway at Belknap Apartments in Grand Rapids, Mich. received a Fannie Mae DUS Loan funded by Arbor Realty Trust.
Detroit-Area Asset Changes Hands
The 129-unit Kings Gate in Sterling Heights traded with the help of a $7 million loan. The property is close to several shopping centers and educational institutions.
Multifamily’s Evolving Market
RADCO Cos.’ CEO discusses multifamily investment and trends at NMHC’s 2019 Apartment Strategies Outlook Conference in San Diego.
JV Secures $60M Loan for Miami Project
Built by a partnership of Mast Capital and AEW Capital Management, Miami River Walk will encompass 688 units. The riverfront development is likely to attract residents from among the large number of health professionals working in the area.
Oak Residential Acquires 2nd Asset in Las Vegas
The apartment community received upgrades to its amenity package previous to the acquisition. The asset was 98 percent occupied as of December 2018.
Utah Townhome Community Receives $17M Construction Loan
Located in Ogden, with easy access to major employment centers, Moda Vista comprises 79 Class A townhomes. The developer anticipates to begin pre-leasing this fall.
CBRE Secures $33M Acquisition Loan for New Durham Property
Chaucer Creek Capital is the new owner of 54 Station, a 264-unit community completed last year. The company plans to build an additional 24-unit building.
CBRE Arranges Sale, Financing of Central FL Asset
Shelton Granade, Luke Wickham and Justin Basquill handled the transaction on behalf of the seller, while Ben Roelke and Ian Walker secured the financing for the buyer.