West
Newland and Sekisui House Form U.S. Joint Venture
San Diego–Newland Real Estate Group L.L.C. and Sekisui House Ltd. have formed a joint venture to acquire real estate development projects in the U.S. consisting of residential and commercial land development.
Denver Conference Focuses on Affordable Housing Near Urban Transit
Denver–The relationship between expanding mass transit and the preservation of affordable multifamily housing was the subject of meeting of about 200 federal, state and local officials in Denver this week.
Adaptive Reuse Project Opens in SoCal
Marina del Rey, Calif.–Latitude 33, formerly an underperforming, institutional-looking office building, has been transformed into a modern luxury beach community.
DEAL OF THE DAY: Berkadia Supplies $11M Refinance Loan Carrying 4.15% Interest
Santa Cruz, Calif.–Berkadia Commercial Mortgage LLC originated $11,000,000 in fixed-rate debt through its Freddie Mac program for the refinance of Hidden Creek Apartments, a multifamily property in Santa Cruz, Calif. The loan features a fixed rate of 4.15 percent.
MHN Interview with Dale Phillips: We Think Las Vegas Is Ripe with Opportunity
Scottsdale, Ariz.–Dale Phillips talks to MHN about the shift in Mark-Taylor’s growth strategy and why, despite Las Vegas’ destroyed real estate landscape, the company thinks it’s a good place to invest.
DEAL OF THE DAY: Raintree Acquires $68.2M Property, Loan Carries 4.18% Interest
San Diego–Raintree Partners completed the acquisition of Trieste Apartment Villas, a 302-unit multifamily community in the La Jolla area of San Diego County, Calif. The purchase price was $68.2 million, according to Jeff Allen, CEO of Raintree Partners.
DEAL OF THE DAY: Colliers Brokers Santa Barbara Sale at Cap Rate of 4.11%
Santa Monica, Calif.–Colliers International directed the sale of Villa Cordova, a 21-unit apartment building located at 1133 10th St. in Santa Monica, Calif., to 10th Street Partners LLC., a private investor. The transaction is valued at $5,775,000.
MHN Interview with Lisa Gelfand: Stimulus Money Helped Start Three Projects
Lisa Gelfand, principal at Gelfand Architects talks to MHN about the importance of the AARO funds in getting these projects done and the challenges in converting former these hotels into residential units.
DEAL OF THE DAY: Hendricks & Partners Oversees $1.7M Sale by Bankruptcy Trustee
Glendale, Ariz.- Hendricks & Partners participated the sale of The Courtyards Apartments, located at 6502 West Olive Avenue in Glendale, Ariz. The 108-unit apartment community was sold for $1,700,000.
DEALS OF THE DAY: Waterton Buys $109.5M in Debt Backed by 4 Assets in North Carolina, California
Chicago– Waterton Residential has acquired $109.5 million of debt secured by four prime multifamily properties located in North Carolina and California.