Multifamily construction spending on the rise
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in August was up 0.6 percent month-over-month. Spending on single-family residential construction rose 1.7 percent while...
Shopoff Realty Investments Sells Fully Entitled 141-Unit Townhome Development in Chula Vista
Shopoff Realty Investments announced that the company has successfully sold its 141-unit Moss Street Townhome project to Shea Homes. The 6.94-acre property is located in Chula Vista, California at the intersection of Moss Street and Industrial...
The Mogharebi Group Close on $18M 100-Unit Multifamily Community in Sacramento California
The Mogharebi Group has arranged the $17.9 million sale of Rosemont Terrace, a 100-unit garden-style multifamily community in Sacramento, California. Mogharebi Executive Vice President Otto Ozen represented the seller, a Southern California-based private investment...
Institutional Property Advisors Brokers Houston Texas 115-Unit Multifamily Asset Sale
Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Icon at Yorktown, a 115-unit apartment property in Houston, Texas. “Houston was the only major Texas market to record a drop in...
JPI to be Acquired by Sumitomo Forestry America, Inc.
JPI, a leader in the development of Class A and attainable multifamily communities, and Sumitomo Forestry America, Inc. (“Sumitomo Forestry”), proudly announce the signing of a definitive agreement for the acquisition of JPI’s operating...
Acadia Realty Trust Secures $33M to Refinance a Luxury, Pre-War Loft Building in NoHo
JLL Capital Markets has arranged $33 million in financing for 640 Broadway, a renovated luxury, nine-story, pre-war loft building stretching a full city block on Bleecker Street, between Broadway and Crosby Steet, in Manhattan’s...
MSCI: Multifamily property prices resume decline
The latest commercial property price report from MSCI Real Capital Analytics said that multifamily property prices in August were down 0.8 percent from their level of the month before and down 14.9 percent from...
Fewer parking space requirements, lower rents
New research suggests reductions in parking space requirements for apartment projects can lower development costs and rents and lessen environmental impacts. Parking regulations are a central zoning component of apartment development in the U.S. But,...
Capstone Closes $13.5M Off-Market Sale of Cottage Gardens in Greensboro North Carolina
Capstone Companies has successfully facilitated the $13.5M off-market sale of Cottage Gardens, an apartment community in the Eastside Park submarket of the Greensboro, North Carolina MSA. Built in 1960, Cottage Gardens features multiple 1- to...
Ariel Property Advisors Arranges Sale of Brooklyn Properties for Over $10M
Ariel Property Advisors announced it has closed two investment sales transactions in Brooklyn, including the sale of a mixed-use development site in Cobble Hill as well as two mixed-use properties in Bushwick, for a...
AHV Communities Announces Leasing Now Available for Frame Med Center in San Antonio Texas
AHV Communities, the leader in Built-for-Rent® single-family (SFR) and attached home rental communities, announced that leasing has commenced for Frame Med Center, its newest community that offers a lock-and-leave lifestyle for renters in San...
MG Developer and Baron Property Group Secure $18M Land Loan for Multifamily Development in...
MG Developer, now the most active developer in Hialeah and Coral Gables, announces it has secured an $18 million loan for its third transient-oriented multifamily development, Metro Parc North, a 663-unit multifamily property, located...
SPI Advisory Acquires 164-Unit Apartment Community in New Braunfels, Texas
SPI Advisory and its partners finalized the acquisition of Riverbend Apartments (formerly known as “Hawthorne Riverside”), a 164-unit, Class A- institutional-quality apartment community built in 1995. Riverbend Apartments boasts direct access to the Guadalupe River...
Berkadia Secures $72M in Construction Financing for Multifamily Property in Montana
Berkadia announced the construction financing secured for the second phase of the existing 19th & Graf Apartment Homes, a garden-style multifamily property in Bozeman, Montana. Located at the intersection of Graf Street and South 19th...
Kidder Mathews Sells 121-Unit Apartment Building for $19M in Seattle’s Northgate Neighborhood
Northgate Apartments, a former senior living facility totaling 121 units in Seattle, Washington sold Wednesday this week for $19M. The sale was fully marketed by Kidder Mathews’ Simon and Anderson team. The property was...