Regions
BRT Nabs 509-Unit DFW Community
BRT Apartments Corp. purchased Mercer Crossing from Provident Realty Advisors for roughly $86 million. For the acquisition, the buyer obtained a $55.2 million loan from Barings Multifamily Capital.
Inland Acquires $95M Denver Asset
Conifer Creek last traded in 2013, when Grand Peaks Properties sold it for $54.4 million. The community was 96.9 percent occupied as of May.
JV Shells Out $118M for Philly Community
Korman Residential and The Carlyle Group acquired 3737 Chestnut in the University City district for $118 million from Radnor Property Group.
LMC Opens Mixed-Use Community in AZ
Nexa, located in North Tempe, Ariz., consists of 399 units and 4,300 square feet of ground-floor retail. The community is part of a larger redevelopment plan for the Apache Corridor.
Lowe JV Buys 304-Unit B’more Community
The high-end Jefferson Square at Washington Hill includes 20,000 square feet of street-level retail and was completed in 2015. The seller will continue to manage the property.
Brokers’ Corner: Douglas Elliman Adds Top Broker
The company has hired Jerry Huang, a former Goldman Sachs executive with more than a decade of financial experience. In his role, he will be focusing on condos and new developments.
Phoenix Community Scores $24M Financing
The real estate investment trust arranged the first mortgage financing for the community. Pinnacle at Union Hills was purchased for $48 million using proceeds from an equity offering.
San Jose Flea Market Redevelopment to Reach 1,000 Units
Western National Group plans to develop 560 apartments in North Village, a community included in Market Park San Jose, a 120-acre mixed-use project.
Madrona Ridge Changes Leadership
As part of the integration, the company added Mike Voorhees as a president for its Seattle office. He brings more than 23 years of experience in residential real estate management.
Tiny Living Gets Bigger
In this video, Tomas Eliaeson and Thomas Carlson-Reddig of Little discuss why this trend is becoming a more functional choice for universities and what goes into creating these spaces.