West
Brandywine Homes Rescues Stalled Redevelopment Plan in Garden Grove, Calif.
Garden Grove, Calif.–Where others have tried and failed, Brandywine Homes is succeeding.
DEAL OF THE DAY: NorthMarq Arranges $10.35M in Capital Markets, Early-Rate-Lock Execution
Lakeside, Calif.–NorthMarq Capital completed a first mortgage financing of $10.35 million for Stoneridge Apartments, a 132-unit multifamily property located at 12840-12854 Mapleview Street in Lakeside, Calif.
MHN Interview with Ken Ryan: TODs Are about Choice, Not Sacrifice
Ken Ryan of KTGY Group talks to MHN about the issues that are impacting sustainable transportation solutions, transit-oriented developments/districts (TODs) and the challenges in accomplishing the design and pragmatic goals for a TOD.
DEAL OF THE DAY: Berkadia Originates $7.5M Refi for Mixed-Use Property on Behalf of ING Financial
Santa Cruz, Calif.–Berkadia Commercial Mortgage originated $7,500,000 in permanent, fixed-rate debt for the refinance of 1200 Pacific Avenue, a mixed-use property in Santa Cruz, Calif.
Doors of $18M Affordable Seniors Apartment Building Open in Suburban Los Angeles
Los Angeles–Ontario Senior Housing Partners L.P., an affiliate of The Related Cos. of California, just made a much-needed contribution to the affordable seniors housing market in Suburban Los Angeles with the grand opening of the City Center Senior Apartments.
DEAL OF THE DAY: ARA Brokers Sale by Lender of 1,398-Unit Portfolio in Denver
Denver–ARA brokered the sale of three-property, 1,398-unit multifamily portfolio in metro Denver. The buyer, Jackson Square Partners, a California-based apartment investment group, purchased the portfolio for $62,000,000.
Affordable Seniors Housing Breaks Ground in Silicon Valley
Morgan Hill, Calif.–Ground will be broken this week for Horizons at Morgan Hill, a 49-unit affordable seniors housing property in the city of Morgan Hill in Santa Clara County in northern California.
Partnership Formed to Own 275 MF Properties
Gardena, Calif.–Real estate veteran Michael A. Costa, along with El Segundo, Calif.-based Highridge Partners and the financial giant Citibank, have formed a joint venture to own and manage a sizable portfolio of multifamily properites.
DEAL OF THE DAY: KeyBank Provides $39.4M Refi for Construction Loan
Marina del Rey, Calif.–KeyBank Real Estate Capital recently provided $39.4 million in Fannie Mae funding to Golden West Properties.
DEAL OF THE DAY: NorthMarq Arranges $22M Permanent Loan for Newly Constructed Community
Los Angeles–The Denver regional office of NorthMarq Capital arranged permanent financing of $22 million for The Metro Art Apartments located at 11771 Montana Avenue in the Brentwood District of West Los Angeles, Calif.