Regions
The Snavely Group Buys 32-Building Cleveland Asset
Willogrove encompasses 384 units and is located in the city’s Willoughby submarket. The sale involved a $21.4 million loan held by First National Bank of Pennsylvania.
Avanath Buys Maryland Senior Community
Delivered in 2006, the 102-unit Victoria Park at Edgewater in Anne Arundel County traded for a little over $11.3 million.
Chicago Multifamily Report – Winter 2019
Rent growth in the metro continued to accelerate and reached 3.2 percent year-over-year as of January, due to increasing demand, particularly for Lifestyle units.
Timberland Partners Expands Multifamily Portfolio
The transactions are the company’s fifth property in the St. Louis metro and first in the state of Arkansas.
JV Acquires Denver Portfolio for $177M
Oak Coast Properties and BMC Investments will rebrand the properties as a single community serving workforce renters. HFF arranged a $120 million Freddie Mac acquisition loan for the three assets.
Alliance Residential Opens Portland Community
The developer broke ground on the 147-unit Class A project, known as Broadstone Reveal, in mid-2017, with BMO Harris Bank providing construction financing.
Freeman Webb Sells Nashville Apartments for $24M
NexBank provided the buyer with nearly $19 million in acquisition financing for the 192-unit multifamily asset in the East Nashville/Inglewood submarket.
Detroit Multifamily Report – Winter 2019
Demand is steady in Detroit, bolstered by household formation and job gains. Drawn by the metro’s low entry costs and attractive yields, investors are targeting assets with a value-add component.
New York City Luxury Tower Gets $215M Refi
The 450-unit residential building, the tallest tower in Queens, opened in 2017 and was developed by Heatherwood Luxury Rentals.
Alliance Residential Sells Luxury Phoenix Asset for $84M
The seller opened the 316-unit Class A community in summer 2018. Thrivent Financial provided the buyer with more than $50 million in acquisition financing.