Regions
Cornerstone Arranges $14M for MA Asset
Langley Terrace in Newton currently comprises three buildings and one two-family home, which will be leveled in order to construct a three-story apartment asset. Construction is scheduled for completion by June 2019.
Cordish Cos. Completes $120M MO Community
The company launched the 296-unit Two Light, the second new construction high-rise apartment building in downtown Kansas City.
Value-Add Virginia Beach Property Trades for $52M
Seminole Trail Properties has purchased Mariner’s Cove, a 458-unit garden-style community situated within walking distance of two shopping centers.
Tucson Community Gets $19M Refi
Berkadia Managing Director Ed Kim arranged the 10-year loan—which includes five years of interest-only payments at a 75 percent loan-to-value ratio—for the garden-style property.
Hunt Mortgage Closes $37M Denver Construction Loan
Located at the corner of West 38th Avenue and Upham Street, West End 38 is slated to include 165 units and roughly 7,200 square feet of retail space.
Protecting Residents’ Data
At the recent NAA Apartmentalize conference, cybersecurity expert Mark O’Cleirigh of Erin Meadows discussed how to take an active role in mitigating a cyber attack at your community.
San Diego Mixed-Use Tower Tops Out
The Richman Group of California Development Co. and Level 10 Construction have topped out K1, which includes 220 units and 7,000 square feet of commercial space.
Baltimore-Area Community Changes Hands for $8M
Built in 1946, the 93-unit property includes 12 garages. The new owner plans to continue the interior renovation of the apartments and make improvements to the amenities.
Changing the Perception of Affordable Housing
Affordable housing goes beyond the concept of Section 8 housing and government assistance. Industry experts at the National Apartment Association’s Apartmentalize conference shared the benefits that this asset class can bring to a neighborhood.