Market Rate
Tucson Community Gets $19M Refi
Berkadia Managing Director Ed Kim arranged the 10-year loan—which includes five years of interest-only payments at a 75 percent loan-to-value ratio—for the garden-style property.
Hunt Mortgage Closes $37M Denver Construction Loan
Located at the corner of West 38th Avenue and Upham Street, West End 38 is slated to include 165 units and roughly 7,200 square feet of retail space.
Houston Apartment Portfolio Attracts Competitive Offers
Florida-based One Real Estate Investment has purchased Houston Southwest Two Pack, which comprises Airport Gardens and Airport Landing, totaling 412 units.
Baltimore-Area Community Changes Hands for $8M
Built in 1946, the 93-unit property includes 12 garages. The new owner plans to continue the interior renovation of the apartments and make improvements to the amenities.
On the Market: 5 Interesting Listings for the Week of 6/11
This week’s listings include a rehabilitated historic asset in St. Louis and a newly constructed community in Las Vegas’ Spring Valley.
Orange County Community Sells for $28M
Marcus & Millichap has arranged the sale on behalf of Stellko Properties, a 1031 exchange buyer. The acquisition was financed with $14.7 million.
Beachwold Acquires 242-Unit FL Community
Read Property Group sold the asset for $20.2 million after picking it up five years earlier, out of foreclosure, for $5.2 million.
Akara Partners Buys Land for Downtown Phoenix Tower
The project, Kenect Phoenix, is set to comprise 320 units across 23 stories, and feature multiple rooftop amenities, as well as 8,000 square feet of ground-floor retail.
JV Grabs Nashville Apartments for $45M
Admiral Capital and Security Properties purchased the 240-unit property from Venterra Realty, which had acquired the asset in 2012 for $27.7 million.
Nexus Brokers 1031 Exchange Denver-Area Sale
Investment Advisor Sean Holamon represented seller Harmony Premier Properties in the disposition of the eight-unit asset. The new owner is planning upgrades in order to increase rent.