Regions
Cleveland Multifamily Report – Summer 2019
The metro’s multifamily sector remained relatively stable in early 2019, with rents increasing 2.4 percent year-over-year through May, just 10 basis points below the national average.
Energesco, FCP Invest in Energy Efficiency at The Woods at Addison
The project is partially financed through a grant from the Maryland Department of Housing and Urban Development’s Multifamily Energy Efficiency and Housing Affordability Program.
New Jersey Luxury Project Receives $60M Construction Loan
Cushman & Wakefield secured the financing for a joint venture of PCD Development and Saber Real Estate Advisors. The loan will be used for the construction of a 421-unit high-end community in Bogota, along the Hackensack River.
$1B Redevelopment Breaks Ground in Baltimore
The city’s housing authority started the first phase of a six-year plan that will create 1,345 new residential units, as well as a variety of community resources and services.
Goldman Sachs Provides $106M Loan for Nashville High-Rise Project
Plans for the 29-story SoBro development call for 354 units above a podium with four levels of parking and 7,600 square feet of retail space.
NAI Capital Brokers Pasadena Transaction
Mario Gandara, Ramzy Prado and Jenny Eng of the company’s Multifamily Services Group worked on behalf of both the seller and the buyer.
Wood Partners Breaks Ground on Luxury Portland High-Rise
The upcoming community will incorporate the northern part of the Artists Repertory Theatre building and will also feature ground-floor retail and affordable units.
Boston Capital Sells Phoenix Asset for $65M
KeyBank provided Eaton Vance Investment Managers with a $45.8 million Fannie Mae loan for the acquisition of Aventura in Avondale, a 17-building gated community.
IPA Arranges $27M Seattle-Area Asset Sale
Almost half of the community’s 134 units were recently renovated. The previous owner rebranded the property, formerly known as Rainier Meadows.
LA Luxury Development Receives $24M Loan
PacTen Partners secured the loan for the construction of a 140-unit transit-oriented condominium project located in the heart of the city.