Regions
Pure Snags $48M Phoenix Asset
The 264-unit Pinnacle at Union Hills previously traded in 2014, when TA Associates Realty acquired the Class A asset from JP Morgan Asset Management for $36.3 million.
Richmond Development Scores $40M Construction Loan
Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.
Berkshire Group Nabs DTLA Luxury Apartments
This is the company’s second purchase in the Los Angeles market in the last year. The 266-unit community also features over 8,500 square feet of ground floor retail.
Economy Watch: AIA Predicts More Construction Starts in 2018
The Architecture Billings Index has posted three consecutive months of design revenue growth, according to the AIA, which bodes well for construction spending growth next year.
Who’s Paying the Highest Property Taxes in the US
The fact that Manhattan dominates the rankings doesn’t come as a shock, but the difference in numbers might. The list compiled by COMMERCIALCafé is quite the mixed bag.
Universe Holdings Starts LA Buying Spree
The company has added to its California portfolio with the $12.6 million acquisition of the 45-unit Villa Edgemont in Los Feliz.
Kettler Opens Luxury Community in Tysons Corner
Highgate at The Mile is a 395-unit mid-rise residential property that boasts an array of amenities and is situated within walking distance of first-class retail, restaurants and key employers, such as Freddie Mac and Hilton Worldwide.
NY Launches $20B Affordable Housing Initiative
The five-year plan was created to combat homelessness and proposes $10 billion to create and preserve more than 110,000 units across the state, including 12,000 units is designed through the newly enacted “Affordable New York” program.
NEI Completes Phase II of Boston Redevelopment
The company developed a 39-unit affordable community in the property, part of an initiative to transform as many as 11 acres of vacant lots in Boston into a mixed-use, transit-oriented development.
Tiffany Rufrano Joins Greystone Development
Greystone has selected Rufrano as its new director of asset management. A former Paramount Group vice president, she brings more than a decade of experience in asset management, acquisitions, financing and investment banking.