Regions
DEAL OF THE DAY: CB Richard Ellis Fund Acquires Apartment Community in S. Florida
Pembroke Pines, Fla.–The CB Richard Ellis Strategic Partners U.S. Value 5 fund has purchased The Resort at Pembroke Pines, a 1,520-unit garden-style apartment community in southern Florida that is 94 percent occupied, via CB Richard Ellis Investors’ Multi-Housing Group.
Land Purchase and Financing Kickstart $47M Suburban Denver Apartment Project
Littleton, Colo.–In a Denver suburb named Littleton, where the limited amount of land for apartment projects is highly coveted, Wood Partners L.L.C. has taken two major steps forward in the development of the 280-unit Alta Aspen Grove.
St. Andrews Apartments in Stamford Poised to Begin
Stamford, Conn.–RiverOak Investment Corp., a private investor, and RMS Construction have formed a joint venture to begin work on the St. Andrews Apartments in downtown Stamford.
DEAL OF THE DAY: Raintree Acquires $68.2M Property, Loan Carries 4.18% Interest
San Diego–Raintree Partners completed the acquisition of Trieste Apartment Villas, a 302-unit multifamily community in the La Jolla area of San Diego County, Calif. The purchase price was $68.2 million, according to Jeff Allen, CEO of Raintree Partners.
Assisted Living Facility Under Way in Suburban Houston
Missouri City, Texas–KEP Hampton ALF L.L.C. has broken ground on Hampton Pointe Manor, a mixed-use senior development in the Houston suburb of Missouri City.
Azure Latest Example of Fairly Brisk Manhattan Luxury Condo Sales
New York–Numerous new luxury condominium properties in Manhattan are experiencing relatively healthy sales activity, and Azure is among the latest to commence the closing of its first group of contracts.
DEAL OF THE DAY: Colliers Brokers Santa Barbara Sale at Cap Rate of 4.11%
Santa Monica, Calif.–Colliers International directed the sale of Villa Cordova, a 21-unit apartment building located at 1133 10th St. in Santa Monica, Calif., to 10th Street Partners LLC., a private investor. The transaction is valued at $5,775,000.
Property Tours: Cancolofts
Deborah Cleary, sales manager at Cancolofts in Jersey City, N.J. takes MHN on a tour of the property.
Chicago Condo Project Re-Purposed Into Warehouse
Chicago–A good many condominium projects came to a screeching halt with the onset of the recession and the housing market contraction, leaving a number of vacant sites in markets nationwide.
DEAL OF THE DAY: Arbor Supplies $1.08M Small Loan
Haltom City, Texas–Arbor Commercial Funding LLC announced the recent funding of a $1,080,000 loan under the Fannie Mae DUS Small Loan product line for the 68-unit complex known as Haltom Oaks Apartments in Haltom City, Texas.