Berkadia announced that its Student Housing platform had a successful first quarter with significant transaction activity nationwide. The platform transacted on a total of 11,094 beds, showcasing robust investment sales and mortgage banking activity in the sector.
The investment sales arm, led by senior managing directors Kevin Larimer and Brandon Buell transacted on 4,275 beds across eight assets. The sales activity included:
The mortgage banking arm, comprised of managing directors Aaron Moll and Steve Skok, senior managing director Pete Benedetto and director Trevor Friday, facilitated transactions involving 6,819 beds across 12 properties. Key transactions included:
Lincoln Property Company and McCourt Partners have broken ground for ElevenOneEleven, a new mixed-use development in Culver City. The groundbreaking occurred three weeks after Lincoln and McCourt announced $133 million in construction financing from Bank OZK. Set to rise on a vacant parcel, ElevenOneEleven will deliver 344 rental apartments, including 52 affordable units, along with 2,000 square...
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Logisco is stripping back the amenity race with a $60M Quebec City apartment development aimed at renters who would rather pay less each month than fund pools, gyms and other extras. The developer has started construction on 193 apartments at 7075 Wilfrid-Hamel Blvd., the first project under its new Elie rental brand. The 10-storey building...
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Virtus Diversified REIT has purchased a 91-suite retirement residence in Hamilton for $26M, expanding its seniors housing portfolio. The acquisition of Abington Court Retirement Residence at 1500 Main St. E. closed Nov. 3. The independent living property opened in 2005 and added 20 suites in a 2018 expansion. Located west of the Red Hill Valley...
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