Regions
TODAY’S DEALS: Associated Estates Grabs 250-Unit Community in Virginia
Associated Estates buys a 250-unit Class AA community in Fairfax, Va.; BRE properties acquires a 150-unit community in California for $48.8 million; and ARA brokers the sale of an apartment property at $72,120/unit.
Buckingham Cos. Commences Rebranded CityWay Project in Indianapolis
Indianapolis–Buckingham Cos. has just broken ground on its new upscale mixed-use development in downtown Indianapolis. Designed as a transformative development, the $155 million project will mark another big step in bringing together two areas of the city.
AvalonBay Wins Bid to Acquire NJ Hospital Site for Redevelopment
Princeton, N.J.–AvalonBay Communities Inc. has inked a deal to buy the University Medical Center at Princeton from the nonprofit Princeton HealthCare System (PHCS), as well as nine houses that the health-care organization owns nearby.
TODAY’S DEALS: ARA Arranges the Sale of a Texas Community
ARA arranges the sale of a 160-unit community in Beaumont, Texas; Oak Grove Capital originates $59.5 million bond credit enhancement; and Marcus & Millichap sells a community in Washington, D.C., for $30.8 million.
Moinian Wins Mortgage Extension for 100 John Street
New York–The Moinian Group has obtained an extension of the securitized $84 million mortgage loan on the Renaissance at 100 John Street, the residential portion of a 36-story mixed-use property in downtown Manhattan.
Two Ribbon Cuttings Cap Affordable Housing Effort in Albany
Albany, N.Y.–On Tuesday, July 12, officials of Omni Housing Development attended a pair of ribbon cuttings marking completion of two different affordable apartment renovations in the Albany area.
Joint Venture Formed to Recapitalize Two Archstone Apartment Properties
Washington, D.C.–Allianz Real Estate and the Canada Pension Plan Investment Board (CPPIB) have acquired an 80 percent interest in two Archstone apartment properties. The deal was done through a joint venture structure formed by the two with Archstone.
TODAY’S DEALS: NorthMarq Arranges $25M Mortgage for Missouri Community
NorthMarq arranges $25 million for a 412-unit community in Missouri; Oak Grove Capital closes a $437.8 million credit facility for Brookdale Senior Living; and the Largo Group of Companies arranges a $4.2 million mortgage for lofts in Buffalo, N.Y.
Related to Preserve, Renovate Affordable Apartment Communities
New York–Keeping families in affordable apartments not only enhances their quality of life, but does a great deal to stabilize neighborhoods. That’s why the recent acquisition, renovation and preservation of the 48-unit New Horizons affordable housing development on West 111th St. in Harlem was cause for rejoicing.
TODAY’S DEALS: Archstone Buys 224-Unit Asset in Marina del Ray
Archstone acquires a 224-unit community in Marina del Ray, Calif.; Marcus & Millichap sells two New England assisted living facilities; and Transwestern negotiates the sale of a $4.3 million portfolio in Phoenix.