West
Steadfast REIT Purchases $63M Denver Asset
The acquisition of Belmar Villas marked the REIT’s sixth multifamily purchase. The 318-unit community comprises 17 three-story buildings featuring one-, two- and three-bedroom floorplans that will soon undergo renovations.
Demand Outpaces Supply in Salt Lake City
Driven by robust population growth and low unemployment, Utah’s largest city is rapidly expanding, generating healthy housing demand. It continues to appeal to major employers, such as Amazon, UPS and big-brand companies based along the Wasatch Front.
Pacifica Refinances 9 Senior Housing Properties for $78M
Capital One provided the loan for the portfolio, which includes properties in Arizona, California, Florida, Oregon and Utah. The mortgage consists of $67.7 million in initial funding.
Nelson Brothers Acquires 184-Bed Student Housing
The company plans to convert 39 three-bedroom units into four-bedroom units. The community is in close proximity to multiple Pullman Transit bus routes, including an express route to the Washington State University campus.
Bellwether Secures $75M Refi for Luxury Inland Empire Asset
The company arranged a $59 million permanent loan and a $16 million mezzanine loan for a 298-unit community asset in Ontario, Calif.
Avanath Acquires Affordable Asset in Denver
Represented by ARA Newmark, the company purchased the affordable community for $13.6 million and plans to implement light capital improvements and improve operational efficiencies to drive value.
Windermere Real Estate Hires COO
Brooks Burton previously served as executive vice president & COO of HER Realtors and Trident Holdings. He will work at the company’s Seattle office.
Joint Venture Acquires LA Communities
Strategic Housing Partners and Rockpoint Group have acquired two portfolios and an additional community, totaling more than 1,200 units.
Capital One Closes $12M HUD Loan for Portland Skilled Nursing Facility
The financing proceeds will refinance a comprehensive renovation program of the 128-bed property in Gresham, Ore.
Ensemble Breaks Ground on Downtown Long Beach Community
Sonata Modern Flats features 112 units alongside a 605-foot-long elevated pedestrian walkway designed as a linear park.