Regions
Green Apartment Building Springs to Life, Eradicating Crime Hot Spot in Washington, D.C.
Washington, D.C.–Wheeler Terrace, a neglected 161-unit apartment building that had become a magnet for criminal activity in Washington, D.C., has undergone a renaissance.
Condo Sales See Slight Uptick in August
Washington, D.C.–The sales of existing U.S. condominiums and co-ops gained some traction in August, according to the National Association of Realtors, but only as a modest uptick.
DEAL OF THE DAY: Berkadia Supplies $11M Refinance Loan Carrying 4.15% Interest
Santa Cruz, Calif.–Berkadia Commercial Mortgage LLC originated $11,000,000 in fixed-rate debt through its Freddie Mac program for the refinance of Hidden Creek Apartments, a multifamily property in Santa Cruz, Calif. The loan features a fixed rate of 4.15 percent.
United Group Wins $20M Financing for Seniors Properties
Albany, N.Y.–The United Group of Cos. has obtained senior loan financing totaling $20.2 million for two independent living seniors housing properties, the Lodge at Bridgemill in Canton, Ga., and Colonial Square, in Utica, N.Y.
DEAL OF THE DAY: NorthMarq Helps Refi CMBS Loan with $4.2M Mortgage from Alternative Capital Source
Garland, Texas–Paul Brighton, senior vice president and senior director of NorthMarq Capital’s Dallas Regional office, arranged first mortgage financing of $4.2 million for Country Village Apartments, a 160-unit multifamily property located at 4362 W. Walnut in Garland, Texas.
Work Gets Underway on Wellness-Centric St. Clair Apartments for Seniors in Tennessee
Maryville, Tenn.–St. Clair Apartments at Asbury Place Merryville, a continuing care retirement community (CCRC) in Maryville, Tenn., moves closer to becoming a reality as Asbury Inc. commences construction of the independent living apartment building.
Ground Breaks on Gleneagles II Apartments in Master Planned Southern Maryland Community
Charles County, Md.–Saint Charles, a 9,100-acre master planned community that American Community Properties Trust (ACPT) is developing in Charles County in Southern Maryland, continues to fill out.
DEAL OF THE DAY: Kislak Brokers Sale of Bank-Owned Property for $460,000 in Market Seeing Increased Demand for Smaller Properties
Hillside, N.J.–The Kislak Company Inc. announced the sale of a bank-owned mixed-use retail and multifamily property in Hillside, N.J. for $460,000. Vice President Jeffrey Squires represented both parties in the transaction.
Apartments Lead the Commercial Real Estate Pack in Recovery
New York–Apartment properties have been the first kind of commercial real estate to show signs of genuine recovery this year, and the outlook is even better.
MHN Interview with Dale Phillips: We Think Las Vegas Is Ripe with Opportunity
Scottsdale, Ariz.–Dale Phillips talks to MHN about the shift in Mark-Taylor’s growth strategy and why, despite Las Vegas’ destroyed real estate landscape, the company thinks it’s a good place to invest.