Regions
The Next Wave in Multifamily: Middle-Market Assets
With multifamily development hitting the brakes in major cities and shy rent growth on the horizon, investors are setting their sights on middle-market assets owned by Baby Boomers. Industry leaders predict that, as this $10 trillion market changes ownership, the largest transfer of properties in the history of real estate will occur.
Stepp Commercial Closes Sale of Long Beach Property
The community traded at a 3.8 percent cap rate and a price per unit of nearly $456,000, a record high for the Belmont Shore area in California.
Greystar Opens CA Luxury Mixed-Use
Access, located in Culver City, includes 115 luxury apartments and 31,240 square feet of retail. The community has been designated LEED Silver.
Legacy Partners Refinances $37M Loan for SoCal Community Makeover
The company has received HUD approval to refinance a loan from Greystone and plans to renovate a 209-unit property In West Covina, Calif., that it has owned and managed since 2007.
Meridian Lands $20M Loan for Chicago Asset
Meridian secured a bridge loan for the acquisition of Ivy Park Homes, a rental townhome community in the South Side neighborhood.
Confluence Starts Work on Suburban Denver Apartments
Timberline Farms, a 314-unit, garden-style community, will feature one-, two- and three-bedroom apartments, with the first building slated to deliver in the second quarter of 2018, and the last building completed by the second quarter of 2019.
Don’t Waste Money on Leadership Development
Many companies throw thousands of dollars into leadership development programs without first trying to figure out exactly what they are trying to fix.
Bellwether Closes First Equity Financing for $199M Deal
The mortgage banking firm arranged joint-venture equity financing on behalf of John M. Corcoran & Co. for the purchase of Windsor Garden Apartments, a 914-unit community in Norwood, Mass.
Manhattan Valley Portfolio Sells for $52M
Eastern Consolidated recently brokered the sale of a four-building multifamily portfolio comprising 100 apartments located at 60-68 W. 107th St., on New York City’s Upper West Side.
Boston Project Transforms 4 Sites into Affordable Housing
Codman Square Neighborhood Development Corp.’s $20 million Dorchester initiative includes 44 units in four buildings, two of which were constructed by NEI.