Regions
Top 10 Multifamily Adaptive Reuse Projects
Space conversion has become an increasingly popular trend, providing untapped opportunity for both investors and developers, in addition to neighborhood revitalization. Based on Yardi Matrix data, the list below includes the largest residential properties in the U.S. that went through adaptive reuses without losing their historical value.
San Fernando Valley Apartments Sell for $42M
Ambrus Co. sold a 207-unit, three-property apartment portfolio to Lion Real Estate Group. The acquisition was sourced off-market from a Los Angeles-based private investor who developed the assets 40 years ago.
Capital One Closes Freddie Mac Loan for SoCal Property
The $9.5 million loan will be used to refinance Midway Meadows, a 92-unit apartment community in Orange County’s Midway City.
Calmwater Capital Provides Financing for MI Student Housing
The $12.7 million loan will go into acquiring and upgrading a 144-unit community near Oakland University in Auburn Hills, Mich. The owners are Andover Real Estate Partners and M Group.
Apartment Investment Advisers Brokers Sale of Vintage Community
The sale of the 67-unit mid-rise apartment building located within the city’s Uptown neighborhood closed at $8.3 million. The new owner plans to transform the vintage apartments into luxury units.
Luxury Community Opens on Philly’s Main Line
The 36-acre site where the luxury apartment community is located also features a 20,000-square-foot historic mansion built in 1881, which will be updated with modern amenities.
Affordability, Inequality Major Issues for Housing Sector
Several panels at the 2017 ULI Fall Meeting offered their insights and strategies for improving affordable housing availability in the U.S. Meeting the challenge starts with addressing issues of inequality and lack of economic mobility in many cities.
DC-Area Communities Receive $65M in Financing
HFF helped secure financing for four properties in the Washington, D.C., area. The apartment communities are situated just 30 minutes from downtown and total 920 units.
SmartStop Affiliate Completes $43M Offering of Reno Student Housing
Reno Student Housing comprises The Summit, a 709-bed asset near the University of Nevada. The LEED-certified seven-building community is 97 percent leased.
Russo Starts Work on Mixed-Use Project in Northern NJ
Phase I of Vermella Union includes 462 rental apartments, 65,000 square feet of indoor/outdoor amenities and 40,000 square feet of retail space.