Regions
Home Properties Acquires Baltimore-Area Apartment Asset for $186M
Home Properties paid cash for the 1,350-unit apartment property, or about $138,000 per unit, and it estimates that the first-year cap rate will be 5.9 percent.
TODAY’S DEALS: Campus Crest Completes the Purchase of Two JV Properties
Campus Crest Communities acquires a full interest in two joint venture properties; Marcus & Millichap lists a luxury rental in Valdosta, Ga.; and George Smith Partners arranges $15.2 million in debt and equity financing for a Denver high-rise.
Joint Venture Buys Alexandria Residential Portfolio for $125.5M
By Adrian Maties, Associate Editor The Praedium Group, a privately held real estate investment firm based in New York, has formed a joint venture with The Milestone Group, a Dallas-based multifamily real estate investment and management company, to buy the Alexandria Portfolio, a 556-unit multifamily portfolio in Alexandria, Va. The unknown seller was represented by […]
Homeless Shelter Now Environmentally Sustainable
A 100-year-old farmhouse in Placentia, Calif., that had been converted into a shelter for people who are temporarily homeless has recently been retrofitted to make it more energy efficient.
$267 Million Residential Development to Turn the Page of Riyadh Real Estate Market
Gulf Related, a joint venture created by Gulf Capital, an alternative investment firm that mainly activates in the Middle East, and Related Companies, the largest privately owned real estate development firm in the United States, is set to tap into Riyadh’s growing residential market.
TransUnion Survey Shows Property Managers Doing Better Than Last Year
According to a recent TransUnion survey, both large and small property managers are doing better than they did a year ago and are more easily attracting residents while increasing rental prices.
Blackstone Group to Renovate Houses for Rent
Blackstone Group LP, a private-equity firm that specializes in commercial real estate, has recently started investing in the residential market by taking advantage of a 34 percent drop in single-family home prices.
MHN Interview: TreeTop Development’s Revitalization Success Story
Adam Mermelstein, managing member of TreeTop Development, recently spoke to MHN about a revitalization project, and why this is important for both the residents and TreeTop’s bottom line.
San Diego Investor Acquires Two Value-Add Apartment Properties
Pathfinder Partners LLC, a San Diego-based firm specializing in opportunistic investments in distressed real estate and defaulted loans, has closed on two multifamily deals in the western United States. One property is in Denver, while the other is in Long Beach, Calif.
TODAY’S DEALS: Home Properties Buys Maryland Asset for $186M
Home Properties buys a 1,350-unit asset; a 42-unit property trades for $4.9 million in Oakland, Calif.; and Red Mortgage provides $21.2 million in financing to the first 221(d)(4) FHA loan to benefit from North Carolina’s Brownfields Agreement.