Regions
On the Market: 5 Interesting Listings for the Week of 6/11
This week’s listings include a rehabilitated historic asset in St. Louis and a newly constructed community in Las Vegas’ Spring Valley.
Orange County Community Sells for $28M
Marcus & Millichap has arranged the sale on behalf of Stellko Properties, a 1031 exchange buyer. The acquisition was financed with $14.7 million.
Brooklyn Luxury Community Receives $68M
Canadian Imperial Bank of Commerce originated the two-year loan for Trinity Place Holdings’ building, which features 105 units and 6,200 square feet of retail space.
Marcus & Millichap Arranges Chicago Community Sale
The new owners, a group of private investors based in California, are set to convert the property into rental apartments and improve the rooftop deck.
Supply vs. Demand: Multifamily’s Tug of War
At the National Apartment Association’s Apartmentalize conference in San Diego, experts shed light on generational changes, rent control and other crucial issues facing the industry.
Walker & Dunlop Arranges $40M for Hotel-to-Multifamily Makeover
The firm structured equity and debt financing for The Mark, a 227-unit community in Alexandria, Va. Northpoint Realty Partners and Persimmon Capital Partners are the project sponsors.
Akara Partners Buys Land for Downtown Phoenix Tower
The project, Kenect Phoenix, is set to comprise 320 units across 23 stories, and feature multiple rooftop amenities, as well as 8,000 square feet of ground-floor retail.
JV Grabs Nashville Apartments for $45M
Admiral Capital and Security Properties purchased the 240-unit property from Venterra Realty, which had acquired the asset in 2012 for $27.7 million.
Hunt Mortgage Group Refinances Suburban Chicago Property
The company provided $26 million for Riverwood Apartments in Lansing, which includes 354 units and 500 parking spaces.
Nexus Brokers 1031 Exchange Denver-Area Sale
Investment Advisor Sean Holamon represented seller Harmony Premier Properties in the disposition of the eight-unit asset. The new owner is planning upgrades in order to increase rent.