Mid-Atlantic
Baltimore Community Lands $73M HUD Construction Loan
The 317-unit Berkleigh in Middle River is part of Baltimore Crossroads @ 95, a large-scale project that will encompass office space, retail, two hotels, 1,000 homes and two multifamily properties.
Overbuilding in Richmond?
Following several years of strong supply, the area’s multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.
Donaldson Group, DRA Advisors Grab $15M MD Community
The joint venture plans to renovate the Brinkley Manor Apartments, including common and outside areas, as well as the individual units.
DC Asset Changes Hands for $3.5M
Marcus & Millichap closed the sale of Gresham House, a 15-unit community in the Columbia Heights neighborhood of Washington, D.C. The property includes 3,358 square feet of retail and office space.
Upcoming VA Community Lands $24M Construction Financing
Berkadia’s Senior Managing Director David Blake arranged a 40-year loan for the development of a 168-unit residential property in Christiansburg, Va.
Pillar Secures Co-Op Loan for DC Community
The 273-unit mid-century asset received $14 million in refinancing via a fixed-rate Fannie Mae cooperative loan with a 30-year amortization schedule.
Richmond Community Changes Hands
The 75-unit 2001 East Apartments, which is located close to the Church Hill Historic District, traded for $9.7 million. Rents at the residential property, which also has two commercial suites, equate to an average of $1,177.
Downtown DC Project Lands $170M in Financing
Portals Residential Phase V Building will feature 373 rental apartments, a sky terrace, an infinity pool, state-of-the-art fitness facility, as well as a rooftop walkway around the building.
Richmond Assets Trade for $6M
Marcus & Millichap brokered the sale of The Park at Forest Hill and Chateau de Ville, two properties totaling 119 units. The communities are located within a three-minute drive of each other.
Richmond Development Scores $40M Construction Loan
Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.