Newmark Arranges Sale, Financing for Charlotte Affordable Rental Community
Ascent Housing paid $28.8 million for a 140-unit affordable multifamily community in Charlotte. To help fund the deal, the company closed on $15.9 million in acquisition financing. Eller Capital was the seller of the Reserve at Waterford Lakes at 8725 Kody Marie Court.
Newmark arranged the sale and acquisition financing. Newmark’s Jason Kon, Dean Smith, John Heimburger, Sean Wood, John Munroe and Brenna Campbell represented the seller. Josh Davis and Patrick Breed secured the financing through Freddie Mac.
Ascent Housing is committed to maintaining affordability while investing in resident-focused programming, including on-site collaborations that support financial empowerment, education, health and wellness initiatives.
Built in 2008, Reserve at Waterford Lakes offers one- and two-bedroom apartment homes featuring modern kitchens with black or stainless steel appliances, glass cooktops, nine-foot ceilings and crown molding. Community amenities include a swimming pool, fitness center, resident lounge with games, business center and outdoor picnic and grilling areas.
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JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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National City Investment Group Commences Workforce Housing Build
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Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
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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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Greg Corbin
Northgate Real Estate Group
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