Regions
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.
More People Are Now Renting By Choice
Chicago–According to a new survey conducted by Apartments.com, a notable percentage of people actively looking to lease in today’s apartment market are not hunting because they have to rent but because they want to rent.
DEAL OF THE DAY: NorthMarq Arranges 35-Year, $15M Mortgage via AmeriSphere
Memphis, Tenn.–Sam Berns, senior vice president and managing director of NorthMarq Capital’s Upstate New York Regional office arranged first mortgage financing in the amount of $15,002,500 for Crescent at Wolfchase, a 200-unit multifamily property located here.
MHN Interview with Lisa Gelfand: Stimulus Money Helped Start Three Projects
Lisa Gelfand, principal at Gelfand Architects talks to MHN about the importance of the AARO funds in getting these projects done and the challenges in converting former these hotels into residential units.