Regions
$460 M Beirut Terraces Vertical Village Could Be First Lebanese Global Award Winner
By Eliza Theiss, Associate Editor Beirut, Lebanon—With MIPIM 2013 just around the corner, nominees of the nine categories of the MIPIM Awards are abuzz with anticipation. Among the nominees is Beirut Terraces, Benchmark’s 130-unit luxury residential project currently under construction in Mina El Hosn, the Lebanese capital’s central district and most high end residential area. If successful, the “Best Futura Project”-nominated property will be the first global award winner from Lebanon. Other projects nominated in the category include Culture Casbah in Malmo, Sweden, Nanjing River West CBD in Nanjing China and The Square in Berlin, Germany. Designed by Swiss architects Herzog…
Under-Construction Office High Rise in Downtown Toronto Set to Thrive
A large leasing deal was recently completed at Brookfield’s Bay Adelaide Center in downtown Toronto.
California Apartment Manager Sets Up Shop in Vegas
Sunrise Management, a San Diego-based residential real estate management specialist, has opened a new Las Vegas division and tapped multifamily expert Kathy Relyea to oversee it.
The Klein Company Opens Eco-friendly Apartments in Cherry Hill, N.J.
The Klein Company is opening the Dwell Luxury Apartments, 233 contemporary apartments in Cherry Hill, N.J., outfitted with top-of-the-line finishes and eco-friendly features.
Riverfront Residential’s Luxury N.J. Community 65 Percent Occupied
Riverwalk, a new 158-unit mixed-used community in Elmwood Park, N.J., is already 65 percent leased, according to Riverfront Residential, the community’s developer. This is the first luxury multifamily community in Elmwood Park.
TODAY’S DEALS: NorthMarq Arranges $39.5M Fannie Mae Mortgage for Acquisition
NorthMarq Capital arranges a $39.5 million Fannie Mae loan through AmeriSphere Multifamily Finance; a JV buys a large Maryland asset; and Steadfast acquires a 26.4-acre parcel in Kentucky with plans for a 256-unit development.
Work Under Way on Collings at LumberYard Apartments
Ground has been broken on the first phase of the Collings at the LumberYard, a new apartment property in the borough of Collingswood’s downtown.
Campus Advantage Announces $150 Million Joint Venture with Major Public Pension Fund
Campus Advantage has announced a $150 million joint venture with a major public pension plan that provides investment services to the benefit of public employees and state and local governments.
EdR Partners with Elauwit Networks as Ancillary Income Generator
EdR, a student housing developer, has purchased a 10 percent interest in Elauwit Networks—an Internet, video and telephone service provider.
Florida Crystals, a Newcomer to Multifamily Development, is Sweet on Delray Deal
The swift growth in demand for multifamily living in recent years has spurred many experienced multifamily developers to announce plans to develop new projects. That same demand is now tempting would-be housing developers whose renown was built outside the multifamily industry.