Sale and acquisition financing of independent living community in Detroit suburbs completed
JLL Capital Markets announced that it closed the $17 million sale and arranged $25.35 million in acquisition and renovation financing for The Park at Trowbridge, a 298-unit, seniors housing community located in the northern...
ECI Group names Eric Fenton Vice President of Development
ECI Group, an Atlanta-based, privately owned, multifamily owner and developer, welcomes longtime multifamily development executive, Eric Fenton, to the company, where he will lead their multifamily development platform in Florida. “We are very excited to...
American Landmark acquires 300-unit multifamily community in Orlando
American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired City West Apartments, a 300-unit multifamily asset in Orlando. The property will undergo a $3.575 million capital improvements...
American Landmark acquires 223-unit multifamily community in Fort Lauderdale, Florida
American Landmark Apartments, one of the fastest-growing multifamily owner-operators in the country, announces it has acquired The Marin by Arium, a 223-unit multifamily community in Fort Lauderdale, Florida. The property will be renamed The...
NMHC President Doug Bibby postpones retirement
Doug Bibby, the veteran president of the National Multifamily Housing Council (NMHC), has announced that he will now retire at NMHC’s Annual Meeting in January of 2023. For more than twenty years, Bibby’s leadership has...
$46.5 million financing secured to develop Fishtown Kensington Village in Philly
JLL Capital Markets announced it has arranged a $46.5 million construction loan for the development of Fishtown Kensington Village, a 297-unit multihousing property located in Philadelphia, Pennsylvania. JLL worked on behalf of the borrower, an...
NAHB holds COVID-19 vaccine awareness week in construction April 19-23
The National Association of Home Builders (NAHB) and construction industry partners are organizing the COVID-19 Vaccine Awareness Week in Construction, April 19-23 to encourage construction professionals to do their part to help the country end the pandemic...
Construction materials prices jump again in March
The Bureau of Labor Statistics (BLS) released its Producer Price Index report for March 2021. It showed that construction materials prices were up 2.4 percent in the month, seasonally adjusted. The index of materials...
Inland Empire multifamily asset closes at $88 million
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of District at Grand Terrace, a 352-unit multifamily property in Colton, California. The property sold for $88 million, or $250,000 per...
48-unit multifamily asset sells in Tallahassee
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Glen Hollow, a 48-unit apartment property located in Tallahassee, Florida, according...
$25 million sale of 125 Magnolia sets new multifamily sales benchmark for emerging Jersey...
The $25M sale of 125 Magnolia at Journal Square has set a new multifamily benchmark for Jersey City’s newest upmarket neighborhood in the elevatored/pre-war apartment building category, according to Gebroe-Hammer Associates Executive Vice President...
Berkadia arranges $27.54 million in acquisition financing for 263-unit community outside of Baltimore
Berkadia announces it has arranged $27.54 million in financing for the acquisition of Melvin Park Apartments, a 263-unit community in Catonsville, Maryland. Senior Managing Director Mitch Sinberg, Associate Director Matthew Robbins and Senior Analyst...
79.8 percent pay rent by April 6
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 79.8 percent of apartment households made a full or partial rent payment by April 6 in its survey of 11.6 million units of professionally...
The Multifamily Group brokers 48 units in Temple, Texas
The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced this week they facilitated the sale of Jamestown and Williamsburg in Temple. TMG Advisor Danny Wieland represented the seller, and Vice President...
HUD wants your input
The Department of Housing and Urban Development is planning to introduce new physical inspection standards for housing. They are seeking input from knowledgeable parties as part of the process of developing these standards. Multifamily...
