Interstate Equities Pays $84M for Hercules Multifamily
JLL Capital Markets arranged the $83.5-million sale and $54.275-million financing of The Dylan, a 232-unit apartment community in Hercules. JLL represented the seller, Hercules Development Partners, in the sale to Interstate Equities Corporation and arranged a five-year acquisition loan through Freddie Mac.
Senior managing directors Ryan Wagner, Brandon Geraldo and Matt Kroger and director Fatai Alashe of JLL’s Capital Markets Investment Sales and Advisory team represented the seller. Executive managing director Charles Halladay and director Matt Cimino led the Capital Markets Debt Advisory team representing the borrower.
Completed in 2022, The Dylan is located along San Pablo Bay at 2200 John Muir Pkwy. “The East Bay continues to attract significant investor attention due to its relative affordability compared to core Bay Area markets, robust income growth projections and limited new supply,” said Wagner. “Hercules, with its unique waterfront position and excellent regional connectivity, has emerged as a standout performer.”
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ORIX Buys 322-Unit Austin Apartment Community
ORIX Corp. USA has purchased Strata, a 322-unit luxury asset in Austin, Texas, from Maverick Development Group. In addition, Multi-Housing New reports Franklin BSP Realty Trust issued a $42 million acquisition loan set to mature in 2031. Strata is part of a six-phase project set to include more than 2,000 units. ORIX’s new community comprises...
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Sycamore-Led Team Converting Nursing Home to 75 Supportive Units
Hunt Capital Partners, Sycamore Development, and ASD – A Home for Life announced the financial closing of The Meadow, a $33 million rehabilitation development at 8130 Meadow Road in Dallas. The project, led by Sycamore Development and co-developed by ASD, will convert a former nursing home facility constructed in 2016 into 75 new homes with...
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Germantown Developer Reveals Schedule for Mixed-Use Project
Proffitt Dixon Partners wrapped up the 345-unit Chamberlain House (shown) earlier this year and is now unveiling its construction timeline for Ferra, a venture featuring 325 apartments, ground-level retail and restaurant space. The Nashville Business Journal reports the company is looking at 2027 to break ground on its latest project, with delivery slated for the...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout