SB Real Estate Partners breaks into Inland Empire with Redlands acquisition for $46.2 million
SB Real Estate Partners (SBREP) has acquired ReNew Redlands, a Class B, 124-unit garden-style apartment community located in Redlands, Calif, for $46.2 million. The property has been renamed Portola Redlands, and SBREP intends to...
Multifamily housing construction activity slows
The Census Bureau’s new residential construction report for September showed lower multifamily housing construction activity than in recent months. Multifamily housing permits issuance declines The number of permits issued for buildings with 5 or more units...
Cushman & Wakefield arranges multifamily sale on behalf of TWO Capital Partners
Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of Capital Club at Indian Land, a 312-unit apartment community located in Indian Land, South Carolina. Marc Robinson, Jordan McCarley, Brooks...
The Beach Company acquires Charleston, South Carolina apartments
The Beach Company announced the October 6 acquisition of the Windjammer Apartments, a 212-unit garden-style multifamily community in the West Ashley submarket of Charleston, South Carolina. Located in a well-established area, the community offers convenient...
$45 million in construction financing secured for ultra-luxury condominium development in Charlotte
JLL Capital Markets announced that it has arranged $45 million in construction financing for The Regent at Eastover, a 32-unit, boutique, ultra-luxury condominium development in the Eastover neighborhood of Charlotte, North Carolina. JLL worked on...
Financing arranged for new infill multihousing development near Denver
JLL Capital Markets announced that it has arranged a construction loan for the development of The Charles Denver West, a 230-unit, Class A, multihousing community in the Denver community of Golden, Colorado. JLL represented the...
432-unit Phoenix multihousing community closes
JLL Capital Markets announced that it has closed the sale of and arranged acquisition financing for Oxford Apartment Homes, a 432-unit, low-density garden-style multihousing community in Phoenix, Arizona. JLL marketed the property on behalf of...
Multifamily housing starts up in Fannie Mae forecast
Compared with earlier forecasts, Fannie Mae’s October economic and housing forecasts call for higher multifamily housing starts over the next 6 months while also anticipating lower GDP growth and higher inflation. Housing: less single-family, more...
Berkadia arranges $28.35 million in combined financing for the acquisition of two multifamily communities...
Berkadia announces it has secured $28.35 million in combined financing for the acquisition of two multifamily communities in Brandon, Florida. Bayshore Investment Partners, a Miami-based private equity firm, acquired Avenue at Creekbridge, a 112-unit...
Stepp Commercial completes $2.5 million sale of 8-unit apartment property in Long Beach
Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed the $2.5 million sale of an eight-unit apartment property located at 1148 Stanley Avenue in the Eastside submarket of Long...
Institutional Property Advisors facilitates Inland Empire seniors housing asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Zen Diamond Valley Senior Living Apartments, a 177-unit multifamily property for seniors in Hemet, California. The asset traded for $23.85...
Institutional Property Advisors completes Southeast Valley of the Sun Multifamily property sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Delano, a 265-unit multifamily property in Mesa, Arizona. The $64 million sales price equates to $241,509 per unit. “Mesa’s low cost...
Trez Capital hires commercial real estate veteran Justin Driscoll as Managing Director for New...
Trez Capital is pleased to announce that Justin Driscoll has joined the firm as managing director of the real estate bridge financing program, based in the New York office. A Long Island native, Driscoll...
Construction materials price rises pause in September
The Bureau of Labor Statistics (BLS) released its producer price index (PPI) report for September 2021. It showed that construction components and materials prices were down 0.2 percent in the month, seasonally adjusted. However,...
Berkadia arranges acquisition loan for 148-unit multifamily community in San Antonio, Texas
Berkadia announces it has secured financing for the acquisition of Castle Hills Townhomes, a 148-unit apartment community in San Antonio, Texas. Senior Managing Director Mitch Sinberg of Berkadia Boca Raton and Managing Director Brad...
