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Top 10 Largest Multifamily Conversions in the Pacific Northwest
The area recorded a high number of adaptive reuse projects that transformed hotels into affordable multifamily communities, breathing new life into historic buildings. Some of the structures served military purposes during World War II.
Wilshire Unlimited Enters Vegas Market With $21M Buy
The company will apply a value-add strategy to the community, which is in need of upgrades and currently has 16 units down due to deferred maintenance.
Tampa Community Changes Hands for $97M
Brokers from Berkadia’s Tampa, Orlando and Jacksonville offices worked together in finding a buyer for The Cove Apartment Homes, a 689-unit garden-style property.
NexMetro Sells First Phoenix-Area Community
Avilla Palm is a hybrid development, with the physical separation and private backyards of single-family homes and the centralized management of multifamily assets.
Blaze, True North Acquire Charlotte Property
The 210-unit Galleria Village Apartments marks the partners’ second purchase in the Charlotte area. The community offers access to a swimming pool, a car-care center and a clubhouse.
Multifamily Community With 753 Units Trades in Indianapolis
Shamrock Communities sold The Cottages of Fall Creek to Pepper Pike Capital Partners. The new ownership will make a significant capital investment in the asset.
Affordable Dallas Property Lands Refi
The 240-unit community, constructed between 1968 and 1976, includes 202 income-restricted apartments. The owner purchased the property in late 2016.
What’s in Store for the Apartment Industry
While demand for multifamily housing remains strong, the sector faces a number of challenges, according to multifamily experts speaking at the National Association of Real Estate Editors annual real-estate journalism conference in Las Vegas.
Cornerstone Arranges $14M for MA Asset
Langley Terrace in Newton currently comprises three buildings and one two-family home, which will be leveled in order to construct a three-story apartment asset. Construction is scheduled for completion by June 2019.
Value-Add Virginia Beach Property Trades for $52M
Seminole Trail Properties has purchased Mariner’s Cove, a 458-unit garden-style community situated within walking distance of two shopping centers.