Regions
TODAY’S DEAL: Marcus & Millichap Arranges Sale of 136-Unit Rental Property for Over $33M
Marcus & Millichap Real Estate Investment Services has brokered the sale of Waterstone Millbrae, a 136-unit, 114,440-sq.-ft. multifamily property in Millbrae, Calif. The sale price of $33,782,500 represents $248,400 per unit and $295 per square foot.
Asset Plus, Meeks + Partners Celebrate Grand Opening of Mixed-Use Student Housing Community
Asset Plus Companies, along with Meeks + Partners, recently celebrated the grand opening of The Lofts at Wolf Pen Creek, a 679-bed mixed-use student housing community.
James R. Gillespie Named Distinguished Alumnus by College of Applied Health Sciences
Jim Gillespie, President and CEO of Coldwell Banker Real Estate LLC, Parsippany, New Jersey, has received the 2009 Distinguished Alumni Award from the College of Applied Health Sciences at the University of Illinois at Urbana-Champaign. He was honored for his outstanding contributions to business and community growth through leadership and philanthropy. The award was announced Friday, October 9, 2009, during ceremonies at Huff Hall.
Lighthouse at Oyster Bay Is Now Open
The Lighthouse at Oyster Bay, St. Maarten’s newest privately owned luxury condominiums, and the Pavilion, a 40-unit timeshare building is now open.
TODAY’S DEAL: Cushman & Wakefield Arranges $43M Sale of 2 Atlanta Properties
Cushman & Wakefield has completed the sale of two suburban Atlanta properties: Madison at River Sound, a 586-unit apartment complex located in Lawrenceville, and Covington Glen, a 254-unit apartment complex located in Decatur.
Despite Economy, Greystar is Pleased with Leasing Pace at Two New Houston Communities
Greystar Real Estate Partners recently completed and opened two luxury garden communities, Northgate Oaks Apartments (pictured) and Yorktown Crossing, in the Houston market.
MULTI-HOUSING EXECUTIVE UPDATE: MBA Names Brad Cheney and Pace Bradshaw as Directors of Legislative Affairs, and Other Moves
The Mortgage Bankers Association (MBA) has appointed Brad Cheney as director of legislative affairs and has also promoted Pace Bradshaw to director of government affairs.
TODAY’S DEALS: Alliant Capital Closes Two Loans Totaling Over $7M for Two Apartment Communities, and Other Transactions
Alliant Capital LLC recently completed the acquisition financing of Spring Lake in Seattle and the refinance of Misty Bayou Apartments in Houma, La., for a total of $7.7 million.
Nevada Latest State to Allow Apt. Owners to Offer Surety Bonds, Other Security Money in Place of Security Deposits
A new law affirms that apartment landlords throughout the state of Nevada can offer a surety bond or a combination of a surety bond and other security money as an option in lieu of a traditional security deposit as required by the landlord. A.B. 512 revises provisions relating to security deposits for the rental of real property (BDR 10-921). Both a security deposit and a surety bond as a security deposit alternative provide for the protection of the landlord.
Q&A with Jack Perlman: Escrow Provides a Sense of Security for Investors in Mexico
Jack Perlman is a real estate developer in Playa del Carmen (main beach town in the Riviera Maya region, by the Caribbean Sea) and owner of Condo Hotels Playa del Carmen. Perlman is opening a fifth luxury condo called El Taj Condo Hotel (pictured) this January, as well as an upscale beach club.