Regions
JV Acquires SoCal Student Housing for $43M
Riverside, Calif.–Among other perks, the Palms on University boasts a fitness center, computer lab, game room, tanning salon, pool and spa, and outdoor basketball and volleyball courts.
Multifamily Owners Focus on Green Benchmarking
Energy efficiency in the multifamily sector could be improved by about 30 percent nationwide by the end of the next decade, but owners must first know how much energy their portfolios consume.
TODAY’S DEALS: CBRE Completes $62.5M LA Sale
CB Richard Ellis completed the sale of a 204-unit L.A. apartment community; Cohen Financial arranged a $7.75 million loan; and J.I. Kislak Inc. purchased three distressed multifamily properties.
Economy Watch: Simon Quits Bid for Largest British Mall Owner
Simon Property Group decided it doesn’t want to be the biggest U.K. mall owner badly enough; U.S. housing prices continue to fall; and small businesses continue to struggle.
TODAY’S DEALS: Franklin Street Closes $850K Sale of REO Property in Tampa
Franklin Street Real Estate Services oversaw an REO sale; UIP and JCR aquired two apartment buildings; and Johnson Capital secured financing on two Chicago apartment buildings.
Westchester County Apartment Complex Sells for $28M
New York–Phoenix Realty Group and Property Resources Corp. have acquired a Westchester County, N.Y. apartment property for $28 million.
TODAY’S DEALS: NorthMarq Capital Arranges $31M, 7-Year Mortgage
NorthMarq Capital arranges a Freddie Mac mortgage; Red Mortgage Capital LLC closed on a refinancing; and Chozick Realty brokered the sale of student housing.
Wood Partners Buys Land for Project near Growing Fort Belvoir Army Base
Alexandria, Va.–Wood Partners has acquired three acres in Alexandria for development of a 290-unit luxury apartment community that will answer demand spurred by growth of the US Army’s Fort Belvoir base.
TODAY’S DEALS: HFF Closes $86.5M Sale to Avalon Bay, Arranges Financing
HFF arranged acquisition financing for an $86.5 million sale; Sterling closed on a student housing community; and Waterton bought both a construction note and mezzanine loan.
JP Morgan Buys Chicago Multifamily Trophy Property for $182M
Chicago–J.P. Morgan Asset Management will take a majority stake in the 87-story Aqua, a mixed-use development in downtown Chicago.