Value-add apartment community in Northern Virginia trades for $80.5 million
Transwestern Commercial Services (TCS) announced it has brokered the sale of Misty Ridge, a 409-unit apartment community at 1989 Delaware Drive in Woodbridge, Virginia. TCS Executive Vice Presidents Dean Sigmon and Robin Williams and...
Joint venture of PCCP, LLC and Intracorp to develop two for-sale townhouse projects totaling...
PCCP, LLC announced today it has formed a joint venture with Intracorp for the ground-up development of two, for-sale townhouse projects totaling 129 units within the Puget Sound region. The portfolio includes Kelkari, a...
Sunroad Enterprises hires multifamily real estate industry leader David Dufenhorst
Sunroad Enterprises, a San Diego-based real estate investment and development company, announces that David Dufenhorst has been hired as President of Sunroad Real Estate Investments. As President, David will lead Sunroad’s rapidly growing multifamily real...
IPA brokers three-property East Texas multifamily portfolio sale
Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of a three-property, 658-unit multifamily portfolio in East Texas. The assets are: Pine Knoll, a 310-unit apartment complex built in...
JLL arranges financing for Overlook Pointe in Broward County
JLL announces that it has arranged financing for Overlook Pointe, a 249-unit, Class A apartment community in Pompano Beach, Florida. JLL worked on behalf of the borrower, Bell Partners, to secure the acquisition loan through...
Oregon revamps its housing laws
The governor of Oregon is expected to sign into law several bills to address housing issues in the state. Two bills, HB 2001 and HB 2003 have the potential to transform Oregon’s neighborhoods. Eliminating single-family...
Falling mortgage rates bolster Freddie Mac’s Apartment Investment Market Index in Q1
The Freddie Mac Multifamily Apartment Investment Market Index (AIMI®) rose by 2.4 percent in Q1 2019 as mortgage rates fell and net operating incomes (NOI) continued their decade-long rise. The annual change in the index remained negative...
Class A 290 unit apartment community in Nashville, TN MSA trades for $60 million
Marcus & Millichap, a leading commercial real estate investment services firm, today announced the sale of The Grand Reserve Spring Hill, a 290 unit, class A apartment community located in Spring Hill, Tennessee, according...
Trez Forman Funds $11 million loan for adaptive reuse project in downtown Birmingham, AL
An Alabama developer received an $11.227 million loan from Trez Forman Capital to fund redevelopment of a prime piece of property in downtown Birmingham, Alabama. Orchestra Partners is planning a four-story condominium building and...
Core Spaces announces strategic partnership with Goldman Sachs
Core Spaces, one of the nation's leading developers, owners and operators of high-quality, mixed-use properties in educational markets, announced today its partnership with affiliates of the Merchant Banking Division of Goldman Sachs to recapitalize...
JLL arranges $50.4M financing for Denver apartment project
JLL announces it has arranged financing totaling $50.4 million for the development of Farm Haus, a 280-unit, Class A apartment project in the north Denver suburb of Longmont, Colorado. JLL worked on behalf of the...
JLL arranges $42.5M financing for mixed-use property in Jersey City
JLL announces the $42.5 million financing of RIVET, a mixed-use multihousing and retail property located in the heart of New Jersey City University’s University Place in Jersey City, New Jersey. JLL advised the borrower, a...
BLS reports mixed results for jobs
This week, the Bureau of Labor Statistics (BLS) released its Job Openings and Labor Turnover (JOLT) report for June. Its data on the parts of the jobs market of interest to the multifamily industry,...
Assessing the impact of New York’s rent control law
A pair of recent reports from Yardi Matrix and from the National Apartment Association (NAA) focus on the impact of New York’s recently enacted rent control law on the ownership and operation of the...
Twin-tower development site in Denny Triangle sells for $72 million
A multifamily development site, located at 1901 Minor Avenue in Seattle, Washington, has been purchased by Concord Pacific, a Canadian residential developer, for $72 million. Kidder Mathews commercial real estate brokers, Ross Klinger and...
