Regions
6 Steps to Improve & Sustain NOI
Real estate managers can significantly improve asset value by controlling variable expenses. Laila Partridge of WegoWise shares how owners and managers can get on the fast track to scalable and sustainable savings.
Inside the 2017 MHN-CPE Awards Event
The 2017 MHN Excellence Awards drew multifamily professionals from around the country to celebrate the industry’s top projects, professionals and companies.
Suburban LA Community Sells for $20M
Marcus and Millichap brokered the sale of Villa Hermosa Apartments in Norwalk, Calif. The sale marks the largest non-institutional multifamily transaction in the suburban city.
JV Receives $61M Loan for MD Development
Walker & Dunlop provided a 40-year, fixed-rate HUD loan for the development of Monarch at Waugh Chapel. The apartment community will be situated midway between Washington, D.C., and Baltimore, along U.S. Route 3.
Tikijian Closes 304-Unit Indianapolis Community
SL Systems LLC purchased the asset and plans to renovate the exterior and upgrade the unit interiors. The community was 95.7 percent occupied as of September.
Kiser Group Brokers Uptown Chicago Community Deal
The sale of the 41-unit property closed at $4.9 million. The asset is a 1920s vintage building consisting mostly of studio apartments.
REVA Development Opens Luxury IL Community
Located near suburban Chicago’s Deer Park Town Center, the property features a combination of mid-rise flats and rental townhomes, totaling 236 units.
Passco Nabs 5th Property in KC Metro Area
Greenwood Reserve, a 228-unit luxury community in Olathe, Kan., traded for $38.3 million. Jeff Stingley of CBRE represented both the buyer and the seller, an affiliated entity of Cityscape Residential. Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing through Fannie Mae.
Baron Properties Buys Phoenix Community for $20M
Since acquiring Capella Place in 2012 for less than half the price, Gelt has made several improvements, adding value to the 150-unit property.
Nusbaum Opens Doors of 1st MD Project
The Fred, a 240-unit apartment community, is situated only an hour away from Baltimore and Washington, D.C. The company initially invested $50 million into the development, which broke ground last year.