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Dallas-Area Property Receives $47M Construction Loan
The 308-unit Tower Bay Lofts will be built using Federal Housing Administration financing. The project obtained a “residential” wage decision, resulting in significant savings for the developer.
Planned Durham-Area Project Lands $17M Loan
Trez Forman CEO Brett Forman originated the loan, which will help the borrower in the acquisition of a 138-acre parcel slated for the construction of an 880-unit property.
Kidder Mathews Arranges Sale of San Diego Coastline Community
The company’s Merrick Matricardi, Jim Neil and Eric Comer worked with ACRE on behalf of the buyer. The oceanfront property is one of the few of its kind in the county.
On Demand Webinar: Building and Managing Your Online Reputation
Learn how to make property reviews work for you. Join MHN and social media marketing and management PaaS provider, SOCi for a 60 minute webinar on the latest best practices in reputation management.
Greystone Brown Facilitates $35M Atlanta-Area Transaction
Pennington Pointe, located in Marietta, Ga., previously traded in 2016 for $27.6 million, a sale which was subject to a $22 million Fannie Mae loan, due 2023.
Kennedy Wilson Sells $422M Portfolio
The six communities comprise a total of 2,199 units and are located across California, Nevada, Washington and Oregon.
ABI Brokers $5M Sale in Phoenix
The community underwent an exterior renovation in 2015 when it was acquired by the seller. The current owner has the opportunity to increase value by implementing interior upgrades.
Top 10 Apartment Owners in Kansas City
As rising apartment prices in the city’s metro area have tempered investment activity in the multifamily sector, many of the top property owners continue to be local companies.
Metropolitan America Sells NJ Asset for $22M
Marcus & Millichap represented the seller and its Capital Corp. division arranged $19.8 million in acquisition financing for the 206-unit Robert Towers in East Orange.
DIJ Properties Grabs Dallas Community
The firm funded the acquisition of the 386-unit property with a seven-year, $13.9 million Freddie Mac loan originated by Berkadia.