Regions
INVESTMENT: Transwestern Named Exclusive Sales Agent for 1,107-Unit Multifamily Portfolio
Bethesda, Md.–Transwestern’s Bethesda, Md.-based multifamily group has been named by United Investors Management Corp. as exclusive agent for the sale of a 1,107-unit multifamily portfolio located in Prince George’s County, Md.
Busy Summer Leaves Long Island Oceanfront Condo Property Nearly 60 Percent Sold
Long Beach, N.Y.–The summer proved to be a fruitful period at Aqua, an upscale 36-unit condominium property along the ocean in Long Beach, N.Y., about 25 miles southeast of Manhattan.
DEAL OF THE DAY: Walker & Dunlop Closes $13.8M Acquisition Loan
Atlanta–Walker& Dunlop provided a $13,800,000 acquisition loan for Lansdowne and Gladstone Towers located in Aldan, Pa.
U.S. Residential Group Expands Multifamily Management Portfolio
Dallas–Multifamily management specialist U.S. Residential Group, which has offices in Texas, California and Connecticut, recently won contracts for the management of over 8,300 units in 39 multifamily properties.
Adaptive Reuse Project Opens in SoCal
Marina del Rey, Calif.–Latitude 33, formerly an underperforming, institutional-looking office building, has been transformed into a modern luxury beach community.
Green Apartment Building Springs to Life, Eradicating Crime Hot Spot in Washington, D.C.
Washington, D.C.–Wheeler Terrace, a neglected 161-unit apartment building that had become a magnet for criminal activity in Washington, D.C., has undergone a renaissance.
Condo Sales See Slight Uptick in August
Washington, D.C.–The sales of existing U.S. condominiums and co-ops gained some traction in August, according to the National Association of Realtors, but only as a modest uptick.
DEAL OF THE DAY: Berkadia Supplies $11M Refinance Loan Carrying 4.15% Interest
Santa Cruz, Calif.–Berkadia Commercial Mortgage LLC originated $11,000,000 in fixed-rate debt through its Freddie Mac program for the refinance of Hidden Creek Apartments, a multifamily property in Santa Cruz, Calif. The loan features a fixed rate of 4.15 percent.
United Group Wins $20M Financing for Seniors Properties
Albany, N.Y.–The United Group of Cos. has obtained senior loan financing totaling $20.2 million for two independent living seniors housing properties, the Lodge at Bridgemill in Canton, Ga., and Colonial Square, in Utica, N.Y.
DEAL OF THE DAY: NorthMarq Helps Refi CMBS Loan with $4.2M Mortgage from Alternative Capital Source
Garland, Texas–Paul Brighton, senior vice president and senior director of NorthMarq Capital’s Dallas Regional office, arranged first mortgage financing of $4.2 million for Country Village Apartments, a 160-unit multifamily property located at 4362 W. Walnut in Garland, Texas.