Regions
Steadfast Management Names New President
A 30-year industry veteran and former Camden Property Trust executive, Michael Brown will oversee Steadfast’s 36,000-unit, 19-state multifamily management portfolio.
Bell Partners Buys Pasadena Asset
Cushman & Wakefield arranged Hines’ sale of The Ellington, a 212-unit, transit-oriented development. Completed in 2016, the community includes 25 affordable residences.
FirstService Residential to Manage NJ Properties for Alfred Sanzari
The portfolio includes 535 units in Bergen and Middlesex counties and is nearly 100 percent occupied. This is the first time Alfred Sanzari has partnered with a third-party manager.
Goldman Sachs Buys AZ Luxury Property
The 341-unit Hanover Mill Avenue was purchased from The Hanover Co. and is situated three blocks from Arizona State University, within walking distance of the Metro Light Rail.
Affordable MN Property Lands $6M Construction Loan
Dougherty Mortgage facilitated the HUD loan for the planned Thomas Avenue Flats in St. Paul. The community is expected to open in spring 2019.
CT Community Lands $53M Refi
The 468-unit Broadmoor Apartments in Hamden received a 10-year refinancing loan, arranged by Meridian Capital Group.
Economy Watch: Tax Credit-Financed Multifamily Performing Well
Multifamily communities financed by the federal government’s LIHTC program are operating better than in any period during the program’s history, according to a recent CohnReznick report.
View From the Southeast: Key Multifamily Issues
Jay Jacobson, president & CEO of EDEN Multifamily, discusses the most in-demand amenities as well as the importance of flexibility during development.
Security Properties Closes Denver Community Recap
The 120-unit affordable property in Commerce City is slated for renovations, which will include the addition of a fitness center, computer lab and laundry room.
South Bay Luxury Community Sells for $107M
TH Real Estate has acquired a newly constructed 186-unit asset located in Santa Clara, Calif. Designed by KTGY Architecture + Planning, the property came online in the spring of 2017.