Regions
Berzack Group Joins Lee & Associates
Sherman Oaks, Calif.–The Berzack Group, led by President Warren Berzack, has joined Lee & Associates.
Federated Cos. Acquires Another New England Multifamily Project
Wakefield, Mass.–Federated Cos. has bought Legacy Park Wakefield, a multifamily project that will consist of two four-story garden buildings and a single three-story townhouse.
TODAY’S DEALS: NorthMarq Arranges $40.4M for Portfolio in Pa.
NorthMarq Capital arranges $40.43M for a portfolio of Section 8 properties; Phoenix Realty acquires a $21.5M REO portfolio; and Grosvenor Residential Investment Partners acquires a 121-unit project in Chicagoland.
First Phase Underway for Denver’s Dahlia Square Affordable Seniors Apartments
Denver–McDermott Properties already has a waiting list for its Dahlia Square Senior Apartments, and they’re only in Phase One of construction.
Starwood, Bainbridge JV Bags Apartment Portfolio in Hot Metro D.C. Market
Washington, D.C.–Starwood Capital Group Global and Bainbridge Companies have acquired seven apartment communities in metro Washington, D.C.
TODAY’S DEALS: Cohen Financial Obtains Lower Interest for $8.7M Loan
Cohen Financial arranges an $8.7M loan for the acquisition of Marcus Pointe apartments, and CT Realty and WLCM’s joint venture acquires a cluster of value-added opportunities for $10M.
Southern California on Its Way Back to Health
SoCal may not return to true health until 2013-2014, but institutional buyers are bidding for quality properties.
Ground Broken for Yonkers Workforce Housing
Yonkers, N.Y.–The Yonkers Industrial Development Agency, L+M Development Partners Inc. and the Greyston Foundation have broken ground on 49 North Broadway, an affordable multifamily housing development.
American Campus Communities and ISU Partner on $59.6M Student Apartment Project
Normal, Ill.–American Campus Communities Inc. and Illinois State University will break ground on Cardinal Court, an 896-bed student-housing community.
TODAY’S DEALS: Marcus & Millichap Brokers Sale of Apartments in North Hollywood
Marcus & Millichap brokers sale of the Morrison Apartments in North Hollywood, and Bay Apartment Advisors oversees an apartment sale in Oakland, Calif. for $134K per unit.