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Boston Capital Nabs Charlotte, NC Community
The company acquired the 368-unit property on behalf of Boston Capital Income & Value U.S. Apartment Fund. The cost of purchase, including improvements, reached $60 million.
August Continues Rent-Gain Streak
The economy is doing well and multifamily demand has been consistent, so supply has been one of the trouble spots. However, rents have still increased every month during 2017.
Dougherty Closes $9M Loan for Tallahassee Sale
The company closed a 12-year Fannie Mae financing for the acquisition of a 152-unit market-rate property located within 10 minutes of downtown.
Napali Acquires 2nd GA Community
The company purchased Forest Park Manor, a 100-unit property in Forest Park, and plans to rebrand it as Residences at Stonebrook.
NASA Seeks Developer for 1,930 Silicon Valley Units
In partnership with the U.S. General Services Administration, NASA intends to build a massive community on 45 acres near Moffett Field, Calif. The project will also include 100,000 square feet of retail space.
Transwestern Brokers Denver Community Deal
Jeff Sanders acquired the two apartment communities totaling 429 units for $30.9 million. They were built between the 1960s and 1970s and are located in improving areas close to downtown Denver.
Manhattan Community Trades for $61M
The 117-unit apartment building is situated in the Gramercy Park neighborhood, while residents benefit from easy access to multiple public transportation options.
$50M Community Breaks Ground in Suburban NJ
A public-private partnership is developing Quin Sleepy Hollow, a 212-unit, amenity-filled project that is the largest upcoming residential development in Plainfield, N.J.
On the Market: 5 Interesting Listings for the Week of 8/28
This week’s listings include a newly renovated property in Whittier, Calif., with an abundance of amenities and a historic asset with original 1912 architecture in the trendy Portland neighborhood of Hollywood.
IPA Intermediates Sale of Austin-Area Community
Vantage at Georgetown is a 288-unit community strategically located north of Austin in Georgetown, Texas. The property was acquired by Pensam Residential.