The long senior moment
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, began Charles Dickens in A Tale of Two Cities. This...
Trepp looks at the state of CMBS loans in Q3
A new report from Trepp takes a look at the state of commercial mortgage-backed securities (CMBS) lending in Q3 2022. While the report covers lending for all commercial property types, this article focuses on...
Rising employment reported for apartment operations
The October Employment Situation Report from the Bureau of Labor Statistics stated that employment in apartment operations jobs rose while employment in residential construction jobs was nearly unchanged. Economy continues to produce jobs The Bureau of...
Berkadia arranges $93.6 million loan for Palm Beach County apartment communities
Berkadia announces it has secured a $93.6 million loan to refinance two multifamily communities located in Palm Beach County: Advenir at Banyan Lake and Advenir at La Costa, both vintage garden-style multifamily assets located...
Excelsa Properties acquires $78 million multifamily community in Columbia, Maryland
Excelsa Properties has closed on the $78 million purchase of a 325-unit multifamily property located at 5764 Stevens Forest Road in Downtown Columbia, Maryland. The value-add property, Columbia Pointe, was jointly acquired by Excelsa...
Institutional Property Advisors brokers multifamily sale outside of Austin
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Parkwood Terrace, a 144-unit, value-add asset in Round Rock, Texas. “This asset’s immediate submarket has the second highest occupancy in the...
CBRE arranges $42.6 million sale of 233-unit apartment community in Springfield, Mass. to Stockbridge...
CBRE announced that it has arranged the $42.6 million sale of Stockbridge Court, a 233-unit apartment community located at 35 Willow Street in Springfield, Massachusetts. CBRE Capital Markets’ multihousing experts Simon Butler, Biria St. John...
Marcus & Millichap arranges $11.4 million acquisition and renovation financing for Harbor Ridge Apartments...
Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $11,390,000 in acquisition and renovation financing for Harbor Ridge Apartments, a 102,985-square-foot, 112-unit multifamily development located...
Viking Partners names Jordan Meehan as new acquisitions manager in Denver
Jordan Meehan has joined Viking Partners as an Acquisitions Manager in the private equity real estate investment firm’s Western U.S. office in Denver, Colorado. Meehan is the firm’s first acquisitions-focused hire in the West...
Interra Realty brokers $4.1 million deconversion sale of Arlington Heights multifamily property
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the deconversion sale of a 34-unit multifamily property in Arlington Heights, Ill. The property, 202-222 N. Salem Ave., traded for $4.1...
Historic Minneapolis multihousing community sells to national investor
JLL Capital Markets announced that it has closed the sale and arranged the acquisition financing of Gaar Scott Historic Lofts, located in the North Loop neighborhood of Minneapolis, Minnesota. JLL represented the seller, Gaar Scott...
Cushman & Wakefield arranges sale of Emblem Grayson
Cushman & Wakefield announced that the commercial real estate services firm arranged the sale of Emblem Grayson, a newly built 344-unit multifamily community in the Loganville submarket of Atlanta. Cushman & Wakefield’s Robert Stickel and Alex...
Rental vacancy rates rise in Q3
The Census Bureau released its quarterly report on home ownership and occupancy for Q3 2022. It showed that the rental housing vacancy rate was 6.0 percent, up from a level of 5.6 percent in...
Single-family rental townhome community in Charleston suburb trades
JLL Capital Markets announced that it has closed the sale of and arranged the acquisition financing for Chamberlain Pines, a 132-unit single-family rental community in the Charleston, South Carolina suburb of Summerville. JLL represented the...
Cushman & Wakefield arranges sale of Orlando Hotel that will become affordable housing
Cushman & Wakefield announced that the commercial real estate services firm has arranged the $7.1 million sale of Ambassador Hotel, a 155-room building on 2.5 acres located at 929 W Colonial Dr. The hotel was...
