Regions
TODAY’S DEALS: Forestar Group Sells 289-Unit Austin Asset
ARA brokers a sale for The Forestar Group; Transwestern facilitates the sale of a Houston property for HIG Realty Partners; and Aries Capital arranges a $7.5 million seniors housing construction loan that also funds pre-construction costs.
PREI Adds Michael Gallagher as Portfolio Manager on REITS Strategies
Prudential Real Estate Investors has added Michael Gallagher as a director and portfolio manager to its global real estate securities team.
Hutton Companies’ $30M Community Nears Completion
Hutton Companies announced that The Paseos at Magnolia Luxury Apartment Community, a $30 million community in Riverside, Calif., is near completion.
AMCAL Announces Grand Opening of L.A. Seniors Apartments
A grand opening heralding completion of the first phase of the Linda Vista Senior Apartments will be held in Los Angeles. The announcement was made jointly by AMCAL Multi-Housing, the community’s developer, and the East L.A. Community Corporation (ELACC).
Economy Watch: Employment Surprises on the Upside
The creation of 175,000 jobs in May by the U.S. economy, as reported by the Bureau of Labor Statistics, was taken as good news mainly because economists, pundits, and investors were expecting a mediocre or worse report (even though it was only a little better than mediocre).
$238 Million Uplands Residential Community Opens In Baltimore
Uplands, a new, $238 million residential community located in Baltimore, oficially opened its gates to the public on Monday, June 3.
Milestone Apartments REIT to Pay $46 Million for Alpharetta Community
According to an official company announcement, Milestone Apartments REIT has agreed to pay $46 million for the Century Windermere, a 346-unit Class A multifamily apartment community located in the Alpharetta/Cumming submarket of Atlanta.
Dominium Acquires 144 Units Spread Over Three Properties
Dominium announced that it has acquired 144 units spread out over three sites. The communities are called Somerset Properties, and are located in Willmar, Minn.
TODAY’S DEALS: U.S. Bank Closes $55.1M for Affordable Seniors Developments
U.S. Bank paves the way for two Retirement Housing Foundation projects in L.A.; Beech Street closes $8.5 million for a Tampa refinance; and Alliant Capital provides a $975,000 loan.
Presidio Apartments Becomes Bell Lake Creek after Bell Partners Acquisition
The Austin Presidio Apartments community has been acquired by the investors from Bell Partners Inc. on May 30th. The transaction cost has not been made public, but the property, which will stay under the management of Bell Partners, will change its name into Bell Lake Creek.