Regions
TODAY’S DEALS: MAA Completes Two Florida Acquisitions
MAA acquires two recently constructed apartment communities in Florida; Edgewood Capital finances the acquisition of a 186-unit property in Jacksonville; and Berkadia originates an acquisition loan at 80 percent LTV.
Condo in Morristown Named Community of the Year by NJBA
Morristown, N.J.–The luxury condominium community 40 Park has won Community of the Year from the New Jersey Builder’s Association.
TODAY’S DEALS: Donaldson Group and Angelo, Gordon Acquire 599-Unit Property
The Donaldson Group finalizes the acquisition of a 599-unit community in Forestville, Md.; NorthMarq Capital arranges a $32M mortgage via a life insurance company; and Prometheus expands its management role in the Pacific Northwest with three new properties.
Miller Honored as Legislator of the Year
Chicago–The Institute of Real Estate Management and the CCIM Institute have jointly honored U.S. Congressman Jeff Miller with their 2011 “Legislator of the Year” award.
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.