Regions
Boston-Area Asset Receives $29M Loan
Reed Realty Advisors will use the proceeds to finance the development of Pac 10 Lofts, a 180-unit affordable housing community in Lawrence, Mass.
Economy Watch: Multifamily Construction Spending Nears Pre-Recession High
Construction spending in 2017 was just 2.6 percent short of the pre-recession peak in 2006, Apartment List reported. Single-family residential construction hasn’t recovered to the same extent.
Wood Partners Opens LA Community
The 280-unit Fifty Five Fifty broke ground in late 2015, and the property offers a mix of affordable and market-rate apartments.
Downtown Phoenix’s 2nd Tallest Residential Tower Underway
Parallel Capital Partners sold a one-acre parcel within Arizona Center to North American Development Group. The company intends to build there a $100 million, 30-story tower.
On the Market: 5 Interesting Listings for the Week of 4/16
This week’s listings include a new community in West Seattle, duplexes in Denton, Texas, and 188 units in Phoenix’s busy Camelback corridor.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in March 2018 in New York City.
KWK Architects Designs $105M MN Student Housing Renovation
The company is updating the University of Minnesota’s historic Pioneer Hall, including adding beds, and providing meetings spaces and a technology center.
TMG Arranges Sale of CA Community
United Development Group traded Casa Del Sol Apartments, a 205-unit community in Bakersfield, to a San Fernando Valley-based private investor.
AZ Senior Community Receives $17M Freddie Mac Refi
Built in 2016, the Phoenix-area American Orchards community offers 38 assisted living and 35 memory care units in two separate buildings.
Top 10 Largest Multifamily Completions in the Midwest
From Chicago to Omaha, multifamily activity across the area has been quite dynamic during the last 12 months, with tens of thousands of units being added to the inventory.