Regions
Urban Capital Partners Acquires Multifamily Community, Formerly Schoolhouse
New Boston Fund Inc. announced the sale of Schoolhouse at Lower Mills, a 62-unit mixed income community in Dorchester, Mass., to Urban Capital Partners LLC.
TODAY’S DEALS: HFF Arranges $86.8M Acquisition Financing for Crow Fund Through TIAA-CREF
HFF worked on behalf of a private real estate fund advised by Crow Holdings Capital Partners LLC to secure a 10-year, fixed-rate loan; and Beech Street closes on a $17 million Fannie Mae refinance loan.
Economy Watch: Jobs Report Mostly Positive, Wall Street Reacts
The headline numbers from the Bureau of Labor Statistics—a net of 165,000 new jobs in April, and upward revisions for the previous months—were well received, especially by investors.
Legendary Ft. Worth Ranch to Become Urban Village
The famous Edwards Ranch, located in the heart of Ft. Worth, Texas, on the banks of the Clear Fork of the Trinity River, will soon be transformed into Clearfork, a 270-acre urban village to be developed by Cassco Development Co., in partnership with Rosewood Property Co.
TODAY’S DEALS: Development Site Near Hudson Yards Sells For $21.25M
A development site positioned in New York City’s Hudson Yards Special District at 511-515 West 36th Street has traded for $21.25 million; and Alliant Capital completes $24.71 million in acquisition loans.
Economy Watch: Hiring Improves in April
The U.S. economy created 165,000 jobs in April, according to the Bureau of Labor Statistics, which isn’t completely robust but at least puts to rest fears of a sharp slowdown in hiring.
500 Lake Shore Drive Marks Related Midwest’s Chicago Rental Debut
Some of the headiest views in Chicago are now available to renters, with the debut this week of 500 Lake Shore Drive.
Investors Buy Metro Atlanta Multifamily Properties
Carroll Organization and NorthStar Realty Finance Corp. have acquired two Atlanta multifamily properties, paying approximately $46 million. The properties are the 396-unit Chattahoochee Landing in Roswell, and the Abbey at East Cobb, a 200-unit property in the East Cobb submarket.
Michael Skrebutenas Joins The Community Preservation Corporation
The Community Preservation Corporation announced that Michael Skrebutenas has joined as senior vice president and regional director of CPC’s Albany office.
TODAY’s DEALS: Cassidy Turley Brokers $73.6M Construction Loan for D.C. Mixed-Use Community
Cassidy Turley announced that it secured a $73.6 million construction loan for Fort Totten Square; and Marcus & Millichap arranged the sale of an Austin, Texas, property.