West
29th Street Capital Buys 12th Bay Area Community
The acquisition of the 79-unit community in San Leandro, Calif., brings the company’s multifamily portfolio to more than 7,600 units. As part of its value-add investment strategy, the company plans to invest $2.3 million in capital improvements.
HFF Secures $23M for Walnut Creek Condos
The 48-unit community will be developed by a joint venture led by The Address Co. The property is slated for completion in the summer of 2018.
Changing Strategies for Multifamily Investment
In this video, David Blatt, CEO of investment bank Capstack Partners, discusses financial strategies under the new administration, how rising interest rates will impact multifamily deals and how the energy market rebound will change the demand for housing.
JV Nabs $37M East Bay Value-Add Apartments
Trion Properties and DVO Real Estate plan to modernize the 146-unit property in San Leandro, Calif., which was built in 1967.
Starwood Receives $250M Loan to Acquire 11 Properties
The portfolio, built between 1985 and 2002, contains 2,136 units, located in Washington, Oregon, Colorado and Arizona. Twenty-five percent of the loan balance qualifies as affordable and is exempt from Freddie Mac’s production cap.
2-Community Sale Fetches MGPG $68M
The properties, located in Henderson and North Las Vegas, Nev., comprise 641 units. Both communities feature one-, two- and three-bedroom floor plans with high-end amenities.
HFO Investment Sells $15M Oregon Community
Mactrust LLC acquired the community for $15.2 million, or $90.719 per unit. The buyer plans to continue making improvements to the property, which is located close to an array of green spaces, retail and schools.
Marcus & Millichap Sells $48M Community
A partnership between Millcreek and a global real estate investment manager sold the 134-unit property near downtown Portland. The luxury community, Modera Goose Hollow, is LEED Gold-certified.
SALT Luxury Residences Open in Tempe
SALT, Tempe’s first luxury residential community opened in February 2017. The class A apartment building was developed by OlliverMcMillan in partnership with Ascentris.
From Dentistry School to Luxury Condos
Trumark Urban developed the 76-unit community, which includes 60 flats, six triplex townhomes and 10 townhouses. The architectural firm Handel Architects maintained the original façade while designing three-dimensional window bays and floor-to-ceiling glass windows for expansive views, enhancing the building’s geometric presence.