Regions
TODAY’S DEALS: Steadfast Apartment REIT Closes First Acquisition
Steadfast Apartment REIT completes its first acquisition with a Tennessee purchase; NorthMarq Capital finalizes $41 million seven-year refinancing loan; and Cohen Financial secures a $26.3 million bridge loan for a fractured condo in suburban Orlando.
NYC’s First Modular Multi-Story Property Opens to Renters
With Douglas Elliman Development Marketing launching leasing for The Stack, Manhattan’s first modular residential building has hit the rental market.
Apartments Still a Landlords’ Market, Says NAR
By Dees Stribling, Contributing Editor Washington, DC—The forecast for rental apartments is still positive, according to the Q1 2014 Commercial Real Estate Outlook, which was released this week by the National Association of Realtors. In fact, according to the outlook, the apartment sector will remain the strongest kind of commercial real estate into 2015, as it has been for a number of years now. NAR predicts that apartment vacancies nationwide will edge up from 4 percent, as of the second quarter of 2014, to 4.1 percent in Q2 2015. Though that represents a small increase, it doesn’t mean a fundamental…
New Joint Master Plan for Philadelphia’s 30th Street Station Underway
New York-based Skidmore, Owings & Merrill LLP (SOM), in association with Parsons Brinckerhoff, OLIN and HR&A Advisors has been selected by Amtrak, Drexel University and Brandywine Realty Trust to develop a comprehensive joint master plan for the area surrounding Philadelphia’s 30th Street Station.
TODAY’S DEALS: Harbor Group Buys 568 Units in CBRE-brokered Sale
CBRE’s New York Institutional Group brokers a two-property Connecticut sale; Grandbridge brokers $24.5 million Miami rental apartment construction financing; and The Bascom Group closes the first acquisition under its new private capital program.
Foxford Communities Begins Sale of Ill. Luxury Apartments
Foxford Communities have begun sales at Clocktower Pointe, a 108-unit luxury condominium development in Countryside, Ill.
Berkadia Expands Mortgage Originations Capabilities with Acquisition of Keystone Commercial Capital
Berkadia Commercial Mortgage LLC announced the acquisition of Keystone Commercial Capital, a full-service commercial mortgage banking company headquartered in Phoenix.
TODAY’S DEALS: PCCP Provides Northland with $98M for Massachusetts Development
Northland Investment Corp. lands $98 million for a mixed-use development; NorthMarq refinances a student housing portfolio in Idaho; and HFF arranges an $8 million financing through Sun National Bank.
Boston Housing Project Redevelopment Completed
The second phase of the redevelopment of the Homes at Old Colony has been completed. The phase involved work on 129 residential units at the property, which is thought to be the nation’s oldest public housing project.
Greysteel Arranges Sale of Fredericksburg, Va. Community
Greysteel has announced that it has brokered the sale of a 200-unit affordable housing community in Fredericksburg, Va. The transit-oriented community, Townsend Square Apartments, was acquired by Federal Capital Partners for $18.8 million.