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Multifamily Deals Span California, Carolinas and Beyond

Photo: Sunsweet Apartments, Courtesy of Northmarq Multifamily transactions continued to move across a range of markets, from a $45 million sale in Morgan Hill, California, to construction financing for a 24-unit condominium project in Arcadia. The latest deals also include apartment sales in Nebraska and South Carolina, refinancings in Colorado and North Carolina, and financing...

3.8% HUD Loan Assumption Attracts 10+ Bidders for $26.6 Million Modesto Apartment Sale

A Southern California family office made its first Modesto multifamily acquisition by purchasing the 100-unit Marc at 1600 for $26.6 million through a 1031 exchange. The buyer was one of more than 10 bidders for the property, which was marketed by The Mogharebi Group (TMG) of Costa Mesa, CA, on behalf of seller Tesseract...

Partial Office-to-Residential Conversions and Financing: The Case for a Floor-by-Floor Approach

Above photo: 100 Wall Street, VTS Marketplace Office-to-residential conversions might bring to mind occupier relocations, gutted interiors and retrofitted systems. Then, there are the partial office-to-residential conversions, in which some space is allocated to office occupiers, while upper floors are converted into for-rent units. “We are seeing partial conversions become an increasingly relevant option for...

Why Bonaventure Waited Four Years to Break Ground on the 344-Unit Attain at Swift Creek

In an environment where multifamily developers scramble to make projects work economically, Bonaventure took a different approach with Attain at Swift Creek in Chester, VA, a southern suburb of Richmond. It waited. The 58-acre site was under contract for four years while the developer worked through entitlements, changing construction costs and interest rates, and a...

$14 Million Residence Inn Buy Paves Way for Multifamily Conversion in Supply-Constrained Market

Photo Source: JLL Torrington Real Estate Development closed on its $13.5 million buy of the 96-room Residence Inn Boston North Shore/Danvers. The Boston buyer also secured municipal zoning approvals from the Danvers Zoning Board of Appeals to convert the 1989-built property at 51 Newbury St. into an 88-unit apartment building. “Torrington recognized the value in...

Fortify Holdings Sells 178-Unit Spokane Apartment Property for $22.5 Million

A Portland multifamily developer, investor and apartment manager sold Go Go Heights, a 178-unit garden-style apartment community at 7024 N. Colton St. in Spokane, Wash., for $22.5 million. LC Gogo Heights LLC, an affiliate of Fortify Holdings, sold the property to c702 LLC, a Seattle-based private investor. The property was 85% occupied at closing, underscoring...

The Evolution of Student Housing Investments: Q&A with Adam America’s David Brickman

Once the purview of mostly mom-and-pop owners, student housing has been treated as an institutionalized asset class since the late 2000s. And just like other real estate properties, this niche multifamily sector continues to evolve. ApartmentBuildings.com recently asked Adam America Real Estate CEO David Brickman, for his analyses and insights about student housing investments. Q....

Adam America, Stellar Communities Obtain $35.1-Million Refi to Buy Time for Florida BTR Sale

Adam America Real Estate and Stellar Communities closed on $35.1 million in financing for the recently completed Havens at Hickory Tree Reserve in St. Cloud, FL. The 36-month bridge loan, provided by CoreVest American Finance Lender LLC, replaces the property’s original construction financing from BHI and gives the joint venture time to stabilize and sell...

All Features

Multifamily Deals Span California, Carolinas and Beyond

3.8% HUD Loan Assumption Attracts 10+ Bidders for $26.6 Million Modesto Apartment Sale

Partial Office-to-Residential Conversions and Financing: The Case for a Floor-by-Floor Approach

Why Bonaventure Waited Four Years to Break Ground on the 344-Unit Attain at Swift Creek

$14 Million Residence Inn Buy Paves Way for Multifamily Conversion in Supply-Constrained Market

Fortify Holdings Sells 178-Unit Spokane Apartment Property for $22.5 Million

The Evolution of Student Housing Investments: Q&A with Adam America’s David Brickman

Adam America, Stellar Communities Obtain $35.1-Million Refi to Buy Time for Florida BTR Sale

Brokers

Remax Professionals

Jared Ennis

Rick Recckio

Eamonn McConnell

Lenders

Management

Essex Property Trust, Inc.

Josh A

Bob Tuteur

Andrew Schildcrout