Institutional Property Advisors brokers $116 million multifamily asset sale in Metropolitan Phoenix
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Liv Crossroads, a 356-unit multifamily property in Gilbert, Arizona. The $116 million sales price represents $325,843 per unit. “Adhering to the...
JLL arranges $27 million in acquisition financing for grocery-anchored multihousing property in prime Manhattan...
JLL Capital Markets announced that it has arranged $26.85 million of acquisition financing for The Nathaniel, a grocery-anchored, 85-unit apartment building located at 138 East 12th St. in the East Village neighborhood of Manhattan. JLL...
Interra Realty brokers $2 million sale of multifamily property in Melrose Park, Illinois
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a 29-unit multifamily property in Melrose Park, Ill. for $2 million. The property 1123 N. 33rd Ave., was a...
Commercial property loan delinquencies under watch
A pair of reports, one from Trepp and one from the Mortgage Bankers Association (MBA) show that delinquency rates for commercial mortgages are generally low. However, delinquencies rates are rising for certain categories of...
The Mogharebi Group arranges $50 million sale of 237-unit multifamily community in Central California
The Mogharebi Group (TMG) has brokered the sale of Oak View Apartments, a 237-unit garden-style multifamily community in Visalia, Calif., for $50 million. The buyer of the fully occupied property is a Southern California-based...
New Jersey multihousing community secures $11 million financing
JLL Capital Markets announced that it has arranged $11 million in permanent financing for Rahway Plaza Apartments, a two-building, 288-unit high-rise apartment community located in downtown Rahway, New Jersey. JLL represented the borrower, Denholtz Properties,...
Senior housing construction activity slows
NIC Map Vision reports that senior housing construction starts slowed dramatically in Q3 in the face of rising interest rates and construction costs. However, results vary greatly by the market segment of the product...
Single-Family construction slows in post-Covid hot markets
The big jump in single-family home building activity that occurred in the aftermath of the COVID-19 pandemic in large metro outlying counties and exurban areas has shown a marked decline over the past 12...
Rising employment reported for multifamily
The Employment Situation Report from the Bureau of Labor Statistics stated that employment in both residential construction and in apartment operations edged higher in November. Economy continues to add jobs The Bureau of Labor Statistics (BLS)...
ABI Multifamily brokers 59-unit Midtown apartment community for $21.5 million
ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $21,538,462 / $365,059 per unit / $421.81 per square foot sale of PURE Midtown, a...
$99.5 million financing secured for Chicago trophy apartment tower acquisition
JLL Capital Markets announced that it has closed the $99.5 million financing of The Elle, a 496-unit, trophy, high-rise multihousing community in the South Loop submarket of Chicago, Illinois. JLL worked on behalf of the...
RADCO acquires Solis Reynolds Place in Atlanta; Multifamily property rebranded as Lyra by Radius
The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, announced the acquisition of Solis Reynolds Place, a newly constructed 228-unit multifamily asset located in Duluth, Georgia, a northeast Atlanta suburb. The...
Multifamily construction spending steady as single-family falls
The Census Bureau’s report on construction spending shows that the value of multifamily residential construction put in place in October was up 0.6 percent month-over-month. Spending on single-family fell for the 6th month in...
Institutional Property Advisors negotiates Tempe apartment property sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of La Serena, a 160-unit multifamily asset in Tempe, Arizona. “Located in South Tempe, where limited multifamily inventory and extreme barriers to...
Zillow’s hot housing takes for 2023
Midwestern markets will heat up, and more friends and family members will pool their money to buy homes together in 2023, as people look for new ways to overcome the housing affordability crisis. However,...
