Regions
$100M LA Arts District Mixed-Use Advances
Greystar’s Arts District AMP Lofts, which includes 320 units and retail space, received a 48-month construction loan from CIT’s Real Estate Finance .
Sares Regis Breaks Ground on Downtown Long Beach Communities
The three communities totaling 348 units were designed by Studio One Eleven and are adjacent to retail amenities. The properties are slated for completion in 2019.
Pathfinder Snags $25M Seattle Property
The Argyle, a 160-unit apartment community in the metropolitan Seattle suburb Federal Way, stands on five acres and features 13 three-story buildings.
MCA Arranges $6M Loan for Denver Community
The project is an integral part of Belle Creek community, which consists of single family housing, apartments, townhomes and a community center. MCA worked on behalf of an entity sponsored by Chartered Development Corp.
Kiser Group Closes Sale of Illinois Community
The 152-unit apartment complex in Montgomery, Ill. sold for $10.9 million as part of a 1031 exchange between the owner and a Chicago-based investor.
Economy Watch: Rents Volatile in Many Markets in May
While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side.
Sunrise Appoints Small Property Operations Director
Phil Smith will oversee a portfolio of 81 single-family and multifamily properties totaling 688 units throughout Southern California, and spearhead the expansion of the firm’s small properties division.
Soho Properties Launches Sales at 45 Park Place
Construction broke ground on the 50-unit luxury condominium tower in June 2016, and the project is slated for completion in early 2019. Stribling Marketing Associates will lead the sales and marketing efforts for the property.
Berkadia Closes $12M Hollywood Community Sale
This is the first time the 72-unit property has traded in more than 40 years. Since most units lacked kitchens, the property was challenging to finance by conventional lenders.
Berkadia: Student Housing Pre-leasing Rates Still Robust
According to the company’s recent report, pre-leasing rates across the country were higher than any year since before 2012 as of the end of April.