The Mogharebi Group brokers sale of 168-unit multifamily community in Bakersfield, California
The Mogharebi Group (TMG) has arranged the sale of Tyner Ranch Apartments, a 168-unit multifamily community in the Central Valley city of Bakersfield, Calif. for nearly $31 million. Mark Bonas, Senior Vice President for...
iBorrow provides $11.6 million in financing for acquisition of 92-unit multifamily property in Atlanta...
iBorrow, a nationwide private direct lender for commercial real estate, has provided an $11.6 million loan to enable the acquisition of Wellington Townhomes, a 92-unit multifamily community in the College Park neighborhood of Clayton County, Georgia, according to Brian Good, CEO of iBorrow.
“iBorrow identified...
Institutional Property Advisors completes newly constructed San Antonio apartment sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Vantage at O’Connor, a 288-unit, new construction asset in Northeast San Antonio, Texas.
“Built in 2020, Vantage at O’Connor achieved stabilization...
Construction spending falls on single-family decline
The Census Bureau’s report on construction spending shows that the value of residential construction put in place in June was down 1.7 percent from the revised level of the month before. Residential construction spending...
Institutional Property Advisors facilitates Tucson multifamily asset sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Metro Tucson, a 232-unit multifamily property in Tucson, Arizona. The asset sold for $38.5 million, which represents $165,948 per unit.
“Metro...
Job openings down again in June
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings declined in June from last month’s level. This was the third month...
Multifamily property prices up despite sales slowdown
CoStar reported that its value-weighted index of multifamily property prices increased 22.9 percent, year-over-year, in June 2022. This index was up 1.4 percent month-over-month. The year-over-year increase is down from that seen in May,...
Davlyn Investments acquires second Las Vegas apartment community
Davlyn Investments, a prominent California-based, multifamily investment firm, recently closed escrow on the $65,500,000 purchase of Rancho Destino a 184-unit, luxury, multifamily community in Las Vegas, Nevada. The property, which has been re-branded Aviara,...
Berkadia arranges $45 million refinancing for 883-unit apartment community in Memphis, Tennessee
Berkadia announces it has arranged the $45 million recapitalization of Residences at Lakeview, an 827-unit apartment community in Memphis, Tenn. Senior Managing Director Mitch Sinberg, Managing Directors Brad Williamson, Matthew Robbins and Scott Wadler...
DB Capital acquires Fifth Salt Lake City multifamily community in the past two years
DB Capital Management (DB Capital) and equity partner Thrive FP has acquired Autumn Glen, a 100-unit apartment community in the Salt Lake City submarket of Taylorsville, Utah. It is DB Capital’s fifth purchase in...
Thayer Manca Residential adds property to growing New Mexico portfolio
Thayer Manca Residential (TMR) continues to expand its multifamily portfolio in Albuquerque, New Mexico. TMR has acquired The Village at Tierra Antigua, the fourth property acquired by TMR through its $88 million fund, TMR...
CBRE arranges $77 million sale of 305-unit historic renovated Mill Apartment Community in Haverhill,...
CBRE announced that it has arranged the $77 million sale of Hamel Mill Lofts, a 305-unit historic renovated mill apartment community located at 40 Locke Street in Haverhill, Massachusetts.
CBRE Capital Markets’ multi-housing experts Simon...
Above trend rent growth continues in July
The latest rent report from Apartment List shows that the national average rent growth in July was 1.1 percent month-over-month and 12.4 percent year-over-year. Both of these rates are down from those posted last...
$17.4 million sale of multihousing community in Milwaukee
JLL Capital Markets announced that it has closed the $17.4 million sale of Freshwater Apartments, a 76-unit, mixed-use apartment building in the Harbor District on the eastern edge of Walker’s Point in downtown Milwaukee.
JLL...
Franklin Street arranges $34 million sale of value-add multifamily property on Florida’s East Coast
Franklin Street has arranged the sale of Paradise Cay Apartments, a 197-unit, 216,466-rentable-square-foot multifamily property in Melbourne, Florida, for $34 million, or $172, 588 per unit.
Franklin Street’s Tampa Multifamily Investment Sales Team of Darron...
