Regions
CityView, Dinerstein to Develop CO Luxury Apartments
The proposed 350-unit, Class A development will be replacing an underutilized retail center at the site. Groundbreaking is scheduled for August 2017 and completion for mid-2019.
2017’s Busiest Rental Markets
With apartment construction reaching a 20-year peak, most of the largest U.S. cities continue to add significant levels of rental stock. Denver and Nashville are joining the top 10 list in terms of 2017 apartment completions, according to RentCafé.
Pillar Provides Freddie Mac Loan for Richmond Community
The company originated a $10.4 million, 7-year loan for the acquisition of a 348-unit community located in the Bellwood. The asset has an occupancy rate of 97.4 percent.
Investcorp Snags Phoenix Community for $50M
The 582-unit Tuscany Palms in Mesa, Ariz., last traded in 2014, when P.B. Bell paid $29.5 million for its acquisition.
Changing the HVCRE Rules: What to Expect
In a strict lending environment, the clarification of High Volatility Commercial Real Estate (HVCRE) regulation could help improve loan terms for investors and developers. However, the long-awaited changes, stipulated in a bill referred to the House Financial Services Committee, have little chance of being approved and implemented, Alston & Bird’s Gregg Loubier told MHN.
KTGY, Trammell Crow Break Ground on $135M CA Mixed-Use Project
Dubbed the Alexan Webster, the 1.42-acre destination will include 234 luxury apartments with 15 percent of its units designated as affordable. Completion is scheduled for summer 2019.
10 Markets with the Lowest Expected Supply Growth
The multifamily industry has experienced a recent boom. But with a risk of oversaturation in some markets, development is slowing and deliveries are expected to peak.
Affordable Housing Portfolio Secures $142M in Financing
Harmony Housing tapped KeyBank Real Estate Capital to provide loans to six of its properties, located in Texas, Michigan, Wisconsin and Florida. Each property reserves half of the units for residents making 60 percent of the area median income.
NJ Community Changes Hands in $73M Deal
The Addison at Princeton Meadows was built in 1981 and offers studios and one- and two-bedroom units. It was purchased free and clear of existing debt.
MedEquities Buys IN Skilled Nursing Facilities
Magnolia Health Systems sold the assets for $15 million in cash and will lease them back on a triple-net basis for 15 years.