Regions
SoCal Luxury Community Breaks Ground
Modera San Diego, a 368-unit upscale multifamily property in the city’s East Village neighborhood, will welcome its first residents in spring 2021.
NJ Mixed-Use Development Site Commands $48M
Meridian Investment Sales represented both parties in the deal for the 3.4-acre lot, which will be turned into five buildings consisting of 477 residential units and some 23,000 square feet of retail space.
Stonehenge NYC Names New VP
The firm hired Kunal Chothani, an industry professional who will serve as vice president of acquisitions. Prior to this role, Chothani was head of the New York subsidiary of Akelius Residential Property AB, where he managed transactions and assets valued at more than $1 billion.
5-Building St. Louis Community Changes Hands
The 104-unit Tuscany Village, built in 1972, last traded in 2014 for nearly $3 million, six months after a foreclosure action.
Gellar Associates Acquires Baltimore Asset
The buyer, Geller Associates, opted to finance the acquisition under Fannie Mae’s Green Rewards program and will implement energy and water saving measures.
Phoenix Community Trades for $32M
The property, built in 1985, is located in Phoenix’s Metrocenter submarket and was 92 percent occupied as of December, according to Yardi Matrix.
NMHC’s 2019 Apartment Strategies Outlook Conference Coverage
From sessions ranging from an economic outlook and market expectations, to investor obstacles, the conference covered an array of subjects that outline the multifamily market’s future.
Multifamily Brokerage: The Case for Specialization
What can residential agents learn from their commercial counterparts? For one thing, pick a geographic market or price point and get to know it well.
Lion Real Estate Expands Nashville Footprint
The acquisition, valued at more than $13 million, adds 160 units to the firm’s portfolio. The community last changed hands in 1990.
How to Reduce the Cost of Development
At NMHC’s 2019 Apartment Strategies Outlook Conference in San Diego, a group of panelists shared ideas on how to lower development costs through innovation and simplified amenities.