Market Rate
JV Wraps Up NYC Mixed-Income Community Makeover
Nelson Management Group and L+M Development Partners have completed a complex, four-year renovation of the 318-unit Promenade Apartments in the Bronx.
Philadelphia Portfolio Lands $35M Refi
Meridian Capital arranged the financing on behalf of Lindy Communities for six buildings. One of the largest properties is the 111-unit Academia Suites.
Capano Residential Nabs DE Community
Merion Realty Partners sold the 231-unit property in Wilmington, Del., after completing a $2 million refurbishment that included the renovation of 84 units.
Toro Real Estate Acquires Assets in AL, TN
The firm purchased an apartment community in Mobile, Ala., and a student housing property in Clarksville, Tenn.
HFF Finances 2 Denver Communities
Working on behalf of Mountain View Capital LLC, HFF secured the financing for Coronado Crossing and Valley Park Village. The Denver properties feature 430 units in total.
JV to Develop $110M SLC Community
Giv Group and Domain Properties will transform a two-acre parcel into The Exchange, a nine-story development that will include market-rate, affordable and micro units, as well as office and retail space.
JV Snags $90M DC-Area Portfolio
Besyata Investment Group and The Scharf Group purchased The Communities at Arbor Vista in the Washington, D.C., submarket of Adelphi, Md. The partnership plans to modernize both the amenities and units.
Manhattan’s Beekman Tower Lands $70M Refi
Meridian Capital Group arranged the 10-year CMBS loan for the 26-story Art Deco building. The property recently underwent a $24.2 million renovation to reposition it as corporate housing.
Covenant Sells 272-Unit Atlanta Asset for $32M
The deal continues the Atlanta market momentum for Covenant Capital Group, following the company’s sale of the 500-unit Viera Briarcliff in June for $76 million. Mike Kemether and Travis Presnell of Cushman & Wakefield worked on behalf of StoneBridge Investments, the seller, while Elliott Throne, Gregg Shapiro and Ware Shipman of HFF secured acquisition financing.
CBRE Brokers $28M Sale of Jacksonville Community
Resource Real Estate acquired the asset which boasts numerous community amenities including a resort-style swimming pool and sundeck, a clubhouse and tennis court.