Regions
TODAY’S DEALS: Kennedy Wilson and Partner Acquire 160-Unit Calif. Asset
Kennedy Wilson buys an asset for $33.5 million; Archstone breaks ground in the Bay Area for the second time in two months; and LNR Property and LYND close the development rights for a 35-story luxury apartment high-rise in Miami.
SBV Buys OKC Apartment Property
SBV Communities, the multifamily real estate division of Kansas City, Mo.-based Spectrum Business Ventures Inc., has bought the 119-unit Ridgeview Apartments in Oklahoma City for an unspecified price.
$109M Mall Redevelopment in Johannesburg, South Africa
Hyprop Investments Ltd, a leading specialist retail property fund in Africa, announced work commencing on the R920 million (or $109.5 million) extension and redevelopment of Rosebank Mall.
ParkCentral Under Construction in Nashville’s West End
ParkCentral, an eight-story, 200-unit luxury rental community overlooking Centennial Park in Nashville’s West End, is now under construction.
Economy Watch: ECB Stands Ready to Buy Euro-Zone Debt
As expected, European Central Bank president Mario Draghi said that the ECB was going to start buying short- and medium-term government debt, especially that of Italy and Spain, the weakest large links in the euro zone.
TODAY’S DEALS: Grosvenor Picks Up 360-unit Community in Washington
Grosvenor buys a Seattle asset; Marcus & Millichap brokers the sale of a 61-unit community in Canoga Park, Calif.; and Beech Street Capital arranges a $23.1 million refinancing for a portfolio of four properties located in Arizona, Texas and New Jersey.
Rego Park Multifamily Redevelopment Now Open
Residents are now moving into the Contour, a redeveloped building in the Rego Park neighborhood of Queens that went from office space to apartments. Occupancy will be about 70 percent once the building’s residents have moved in.
Skyline Equities Realty Sells Development Rights for Miami Condominium Community
Skyline Equities Realities has recently completed a deal to sell its luxury community SkyPalace, located in Miami, within Mary Brickell Village. Lynd Development and LNR Property will be the new developers of this property. Blackrock Realty Advisors will serve as the equity source.
Boston Capital Invests in Three Oklahoma Affordable Multifamily Developments
Boston Capital is investing in the construction of three affordable multifamily developments in Oklahoma totaling 105 units that will be built with tax credit equity from the Low Income Housing Tax Credit program.
New Residential Condo Development Breaks Ground in Flourishing Luxury Real Estate Market
An affiliate of Ledcor Properties Inc., 26th Avenue River Investments Inc., has broken ground on a new luxury residential condo development in Calgary, Canada.