Regions
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.
Economy Watch: Apartment Rents Edge Up in Some Markets
November marked the largest month-over-month increase in U.S. median rent for apartments so far this year, according to a recent ABODO report.
Radnor Property Group Opens Vue32 in Philly
The $55 million project includes 164 units and roughly 14,000 square feet of first-floor retail space. A second phase is slated to open in November 2018.
Greysteel to Sell VA Affordable Housing Portfolio
The company was tapped to market Lexington Commons in Newport News, Va., and Parkwood Manor in Norfolk, Va., totaling 232 units.
NY Nursing Facility Lands $25M Refi
Greystone provided the HUD-insured loan for Adira at Riverside Rehabilitation & Nursing in Yonkers, N.Y. The financing carries a 30-year term at a low, fixed rate.
UIP Snags $32M MD Community
The company purchased the 212-unit Walker House in Gaithersburg, Md., from Washington REIT. UIP plans to renovate the older apartments and some of the community common areas.
US Real Estate Market to Remain Healthy in 2018
TH Real Estate Head of Americas Research Melissa Reagen shared her 2018 outlook for the U.S. real estate market and economy, at the 2017 ULI Fall Meeting in Los Angeles.