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JV Secures $49M for 5 South Carolina Properties
Arbor Realty Trust arranged the financing on behalf of Friedlam Partners and EBEX Holdings for the portfolio, which comprises more than 775 units.
Berkadia Lands $37M for TX Asset
The borrower, American Landmark Apartments, will invest in capital improvements, including upgrades to unit interiors and amenity packages.
Newcastle Acquires Chicago Multifamily Asset
Sean Connelly and Davis Edgerly from 33 Realty represented both the buyer and the seller in the $5.4 million transaction within the Logan Square neighborhood.
Hunt Real Estate Secures $23M for Phoenix-Area 1031 Exchange
The 224-unit Canyon Woods and the 148-unit Shadow Rose are both slated for upgrades, with ownership set to invest roughly $3.5 million in improvements.
Opus Breaks Ground in Downtown Minneapolis
The six-story building is the company’s third residential development in downtown Minneapolis and its eighth in Minnesota. The community is expected to be delivered in 2020.
Covenant Capital Group Raises Record $395M
Covenant Apartment Fund IX is the largest fund in the company’s 18-year history. The capital will go toward revitalizing recently acquired properties.
Bank of America Provides $25M for Bay Area Refi
The loan retires a prior, $30 million CMBS mortgage from late 2008, which had been set to mature in January.
Blackstone Sells $40M Phoenix Asset
TH Real Estate acquired the 240-unit multifamily asset, securing $40 million in revenue bond financing from Maricopa County’s Industrial Development Authority.
Decron Properties Buys San Jose Apartments
The partially affordable property last changed hands in 2012, when Greystar purchased the 208-unit community from Invesco for nearly $60 million.
Aura Properties Breaks Ground on MA Mixed-Use Project
The company is developing the five-story, 42,000-square-foot building in Brookline, with a completion date scheduled for next August.