Market Rate
Boston’s Hood Business Park Gets Residential Component
The mixed-use project will add 177 units and 10,500 square feet of retail space to the Hood Business Park complex.
Berkadia Facilitates $15M Vegas Sale
Desert Palms North Apartments was built in 1992 and features mixed unit types, ranging in size from 520 to 975 square feet. According to Yardi Matrix data, monthly rent averages at $648.
Las Vegas Asset Changes Hands
Berkadia arranged the sale of Emerald Park Apartment Homes, a 300-unit community. The buyer paid $95 per square foot, equating to a 5.5 percent cap rate.
HFF Arranges $20M Seattle Sale
PCCP and Westbridge Properties have sold the 1990-built Arterra Townhomes, an 81-unit community in Kent, Wash.
DC Community Trades for $10M
Greysteel brokered the sale of Cascade Park Apartments on behalf of NOVO Properties, located within minutes of the Capitol Riverfront. According to Yardi Matrix data, occupancy is currently at 94 percent.
Western Securities to Expand TX Community
Designed by BGO Architects, Phase II of Mustang Station in Farmers Branch, Texas, will encompass 186 units. KWA Construction serves as the general contractor on the project.
Bell Partners Acquires Annapolis Asset
The company purchased the now rebranded Bell Annapolis on West, a 300-unit community. Including this property, Bell Partners has completed $645 million in multifamily acquisitions in 2017.
HFF Lends a Hand in Denver Community Sale
The company marketed the sale of the 291-unit Greenwood Park located within Denver’s Tech Center. Holland Partner Group and Principal Real Estate Investors were the buyers.
Dougherty Closes Acquisition Loan in South Dallas
The company secured a $6.6 million Fannie Mae loan for the acquisition of a 113-unit multifamily asset in DeSoto, Texas. Dougherty’s Minneapolis and Vienna, Va., offices arranged the financing through a partnership with Old Capital Lending.
Lantower Lands 451-Unit FL Asset
The company purchased Seneca at Cypress Creek, a 2010-built community in the Lutz/Wesley Chapel submarket of Tampa, Fla. With this acquisition, Lantower’s portfolio comprises 14 multifamily properties totaling 4,600 residential units.