Regions
Suburban Twin Cities Apartments Sells for $22.7M
Newport on Seven, a 167-unit apartment property in suburban Minneapolis, has traded hands for about $22.7 million, or over $136,000 per unit.
TODAY’S DEALS: Trammel Crow Starts Second Phase of Austin TOD
Trammel Crow begins a 246-unit asset; The Morgan Group breaks ground on a project in Jacksonville, Fla.; and NorthMarq Capital arranges a $35 million payoff of tax-exempt bonds.
MHN Interview: Madison Apartment Group’s Strategy to Appeal to Gen Y Renters
Madison Apartment Group LP, the multifamily area of BPG Properties Ltd., recently rebranded their website to appeal to Gen Y renters.
Financing in Place for Denver Rental Property Acquisition, Rehab
Los Angeles-based commercial real estate investment banking firm George Smith Partners has arranged financing to permit its client Bruckal Properties Inc. to acquire and rehabilitate the high-rise Wellshire Arms Apartments, a rental community situated on South Colorado Blvd. in Denver.
TODAY’S DEALS: $45M Workforce Housing Community Opens in Florida
A 300-unit workforce housing project opens strong in Florida; HFF secures a $47.8 million three-year ARM through bank; and Newmark Grubb Knight Frank closes a $3.4 million bank-owned sale.
Chance Partners Teams with Carlyle Group on Mixed-Use Development at FSU
Chance Partners LLC and The Carlyle Group have begun construction on the Catalyst, a mixed-use development that sits a few blocks from Florida State University.
Balfour Beatty Communities Awarded DOE Grant for Residential Energy Savings Program
Balfour Beatty Communities LLC has been selected for a Smart Grid Data Access Award from the Department of Energy through its property management division, Balfour Beatty Military Housing Management LLC.
Amenities Geared Towards Seniors Take Center Stage at New Affordable Community
Heritage Oaks Senior Apartments, an Oakdale, Calif.-based seniors community, recently opened for low income seniors age 55 and older.
TODAY’S DEALS: IPA Arranges $21.7M Connecticut Sale
IPA arranges a 188-unit sale; and Beech Street Capital closes a $25 million Fannie Mae loan for a Philadelphia community.
New York-Based Residential Real Estate Franchise Operation Heads into New Markets
Rapid Realty NYC is currently scouting out locations for new franchises in Boston, Philadelphia, Atlanta and Tampa, Fl., as well as other markets across the country.