Market Rate
Miami-Area Community Receives $32M Take-Out Loan
Berkadia arranged the 12-year loan through Fannie Mae. The community, completed in 2017, is located near the Ronald Reagan Turnpike and Homestead Air Reserve Base.
Henley, Tower 16 Launch Vegas Brand
The partnership will acquire multiple multifamily assets in the coming months, targeting value-add opportunities and applying renovations under the Altura brand. The first property is slated to open this summer under the new name.
Praedium Group Snags Minneapolis Community
Maverick North Loop Apartments comprises 168 units across two buildings and 5,095 square feet of ground-floor retail, half of which is currently leased to Starbucks.
Top 10 Apartment Owners in Richmond
After lagging the nation for most of 2017, rent growth in the city started rebounding last December. Upscale demand is driven by large commitments made by tech companies in the area, bringing in new multifamily construction.
On the Market: 5 Interesting Listings for the Week of 4/2
This week’s listings include a historic luxury community in Iowa and a property near Lake Michigan’s southernmost point.
Gelt Buys 491-Unit Seattle Portfolio
The seller, FPA Multifamily, recently renovated interior and exterior amenities, including the clubhouse, the fitness center and the parking lot of both properties.
Hunt Mortgage Arranges $9M Loan in VA
Geller Associates acquired Lee’s Landing in Newport News and will improve the community in order to qualify for the Fannie Mae green rewards program.
Walker & Dunlop Secures $75M Refi for Properties in DC, CA
Located in central Washington, D.C., and Sacramento, the properties total 450 units. The bridge loans provide 12-month terms with flexible prepayment options.
Kushner Buys 360-Unit NJ Property
The company has acquired Prospect Place, a two-building community located in Hackensack, N.J., from Greystar.
Dougherty Secures Refinancing for Dallas Community
The 53-unit garden-style property, located in the city’s North Oak Lawn submarket, contains a mix of studio, one- and two-bedroom apartments.