West
Rent Control: Back in the Spotlight
With California’s Prop 10 on the ballot this November, industry leaders worry that restrictive new measures could spring up around the country. Meanwhile, cautious investors are realigning portfolios and rethinking strategies.
HFF Lands $27M Refi for LA Student Housing Portfolio
The portfolio comprises 19 communities totaling more than 81,000 square feet near the University of Southern California.
Capstone Development Opens $350M Student Housing Assets
The properties include The Village Phase 2, The University of Massachusetts Boston Residence Hall and Dining Center, Vi Hilbert Hall, Montage on College and Calaveras Hall.
KeyBank Arranges $63M for Multifamily Portfolio
The properties include Cambrian in Aurora, Colo.; Ascott Place in Tampa; and The Cascades in Phoenix. The loans were secured through Fannie Mae.
Trinity Properties Lands $300M Refi in San Francisco
PGIM Real Estate Finance provided the refinancing package on eight of the owner’s communities.
Gearing Up for Successful Multifamily Operations
With changes in resident expectations driving different approaches to asset management, Sunrise Management CEO Joe Greenblatt provides insights into how owners can stay ahead of the curve.
Sacramento Multifamily Asset Commands $14M
JCM Partners sold the 76-unit community to IDS Real Estate Group, which landed an HFF-originated, $7.6 million Freddie Mac loan to finance the acquisition.
JCM Partners Sells Sacramento Community for $61M
The buyer, 29th Street Capital, financed the acquisition of the 417-unit multifamily asset with a nearly $47 million Freddie Mac loan.
TruAmerica Expands Salt Lake City Footprint with $46M Buy
The 253-unit Country Lake in Silicon Slopes is the company’s fourth community in the metro. The new owner has plans to renovate the 1973-built property.
SoCal Affordable Community Changes Hands
The 60-unit fully affordable property fetched a price tag of $3 million, with the buyer landing $2.7 million in acquisition financing.