News

Bascom Expands California Footprint With $17M Buy

Bascom Group LLC acquired its 23rd multifamily property in Central California. Casanova Grove is a 76-unit community located in Monterey and the new owner is planning to upgrade it.

Market Rate

Mission Lenders Fueled Motor City’s Comeback

After the housing crash, Detroit’s revival was powered by mission lenders. Nearly 42 percent of investment in Detroit real estate was possible with financing from such alternative financing organizations. Urban Institute’s Brett Theodos filled MHN in on mission lending and its opportunities for expansion.

Finance & Investment

JV Secures $130M Senior Loan for Minneapolis Condos

Provident Real Estate Ventures and Shamrock Properties Inc. will develop The Legacy, a 374‐unit property that will include an eight‐story podium with a 14‐story and a 17‐story tower, along with three levels of subterranean parking.

Condo

Regions

Change City

Boston Affordable Housing Gets $14M Renovation

LIHC Investment Group and Weston Associates received financing that will keep the 380-unit Shore Plaza Apartments affordable for the next 20 years.
Boston 19 September 2017 17:44
Mallory & Evans Brings Student Housing to SC, AL

The company is adding Bellamy Coastal and Bellamy Florence to its luxury student housing brand. Totaling $56 million, the two communities are scheduled for completion by fall 2018.
South 19 September 2017 16:57
Bellwether Enterprise Closes $51M Refi

The company arranged the refinancing of Alley 111, a 12-story apartment building offering a mix of studios, one- and two-bedroom units, along with 4,000 square feet of retail space.
Seattle 19 September 2017 16:24
FL Mixed-Use Community Adds Multifamily Component

Edera at Coconut Point will be the only residential rental property within the 500-acre, master-planned, mixed-use development.
South 19 September 2017 16:10
HFF Arranges Sale, Financing of Metro Houston Apartments

Hilltop Residential is the new owner of Villages of Cypress Creek, a 384-unit, Class A community in the city’s northwest suburb of Cypress, Texas.
Houston 19 September 2017 15:47
CIM Group Reaches Construction Milestone in DTLA

888 S. Hope—a 34-story apartment tower featuring 525 units, 6,000 square feet of ground-floor retail space and a public pocket park—is scheduled for delivery in mid-2018.
Los Angeles 19 September 2017 14:26
SunCap Property Breaks Ground on NC High-End Community

The four-story, 47-unit community will offer two-and three-bedroom apartments with rental rates estimated to start at $3,400 per month. The property marks SunCap’s first multifamily development in Charlotte.
Charlotte 18 September 2017 20:22