Regions
TODAY’S DEALS: Construction Loan Kicks-Off NOVUS Development in Maryland
HFF arranges a construction loan with EagleBank for a Maryland TOD development; Avesta Communities acquires a 314-unit property in South Florida; and Marcus & Millichap brokers a 160-unit sale in Mississippi.
LaSalle Group to Develop Two Memory Care Properties in Austin Area
The LaSalle Group, which specializes in memory-care seniors housing, has broken ground on two properties in the Austin, Texas, area.
CBRE Group Hired to Market Laketown Wharf
CBRE Group Inc. has been hired to market and sell the interests of ST Residential and its affiliates in Laketown Wharf, a Panama City Beach, Fla., Gulf-view resort property, with 399 units operating as apartments.
Economy Watch: State Unemployment Rates Mostly Down in March
According to the Bureau of Labor Statistics, during March 21 states had unemployment rate decreases, 17 states and the District of Columbia had increases, and 12 states had no change, compared with February.
Philip Watkins Joins Megalith Capital Management as Principal
Megalith Capital Management, a residential real estate owner and developer focused on investments in New York City and urban, supply-constrained markets, announced that Philip Watkins has joined as a principal.
Grand Opening Announced for New Waldwick Townhome Community
The K. Hovnanian Homes townhomes development, Farm Estates, has announced that it will soon hold a grand opening celebration at the community’s site in Waldwick, N.J.
TODAY’S DEALS: MG Properties Acquires 770 Units in California
MG Properties drops $80 million on four California apartment communities; Beech Street closes a $9.1 million refinance for a Colorado asset; and Essex Realty brokers the sale of a courtyard apartment building in Chicago.
7×7 Development Acquires Site for SF Condos
7×7 Development has acquired 388 Fulton St., one of the last remaining undeveloped parcels in San Francisco’s Hayes Valley neighborhood. Plans for the corner site two blocks west of City Hall call for a 69-unit condo building with retail on the ground floor.
Deco Communities Proceeding With Midtown Phoenix Condo Development
The locally based Deco Communities has acquired 2346 N. Central Ave. in Midtown Phoenix, which is currently occupied by a 23,000-square-foot office building. The company paid $2.35 million for the site, and plans to develop condos there.
CPC Receives $200 Million to Finance New York State Housing
The New York State Common Retirement Fund has committed $200 million in new funding to the Community Preservation Corporation.