News
JV Lands $202M Construction Financing for Naples Mixed-Use Venture
APREA and JSB Capital Group closed on a $202 million construction financing package with Bayview Commercial Mortgage Finance (BCMF) on The Avenue. The funding includes includes $109 million of C-PACE financing and a $93 million traditional construction loan. The milestone kickstarts construction of the mixed-use development near downtown Naples. The Avenue will include for-sale residences...
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Developer Duo Eyeing $100M Investment in Greensboro Mixed-Use Venture
Simpson Commercial Real Estate and Brown Investment Properties purchased 61.7 acres near Toyota’s $14 billion battery manufacturing facility (shown), with plans to develop a mixed-use project to be called Woody Mill. The joint venture paid $8 million for the site. The Triad Business Journal reports the team is planning to build a 240-unit Class A...
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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,...
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La Caisse Indefinitely Suspends Investment in Brossard Apartment Project
Construction of the massive Prével apartment project will not begin this fall, after La Caisse indefinitely suspended its investment in the development. The decision delays the first phase of the proposed $1.2-billion Panama Project in Brossard, Que., a transit-oriented rental development near the Panama station of the Réseau express métropolitain (REM). Construction of the first...
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Affiliated Closes Financing on Mixed-Income Fort Lauderdale Apartment Project
Affiliated Development has closed on a $74 million construction loan with Pacific Life Insurance Company for The Cove, a mixed-use, mixed-income multifamily development on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Just over half of the 374 units will be restricted to families earning 120% of the Area Median Income....
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Marcus & Millichap Closes $12.5M Sale of La Mesa Seniors Housing
Marcus & Millichap finalized the sale of 5035-49 Guava Ave., an 81-unit seniors affordable multifamily property located in La Mesa. The property sold for $12.5 million, or $154,320 per unit. “Age-restricted communities with long-term affordability protections are rarely available for acquisition in San Diego County,” said Christopher Zorbas, executive managing director investments. “This transaction reflects the continued demand for well-maintained affordable senior housing, and despite broader industry headwinds, we remain confident in the long-term fundamentals...
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NPCG Arranges Sales in Charlestown, Leicester
Northeast Private Client Group (NPCG) arranged the $3,525,000 sale of 250 Main ST. in Boston’s Charlestown neighborhood. Investment associate Tom Egbers represented the seller and procured the buyer. 250 Main St. is a mixed-use property located in Charlestown. The property offers the buyer a well-positioned mixed-use asset in one of Greater Boston’s most sought-after urban neighborhoods, with strong residential and...
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Merchants Capital Closes $160M Multi-Investor Tax Credit Fund
Merchants Capital announced the closing of Merchants Capital Tax Credit Equity Fund 31, a $160 million multi-investor fund with 10 institutional investors. Merchants Fund 31 will infuse equity into nine affordable housing properties, creating or preserving more than 1,400 affordable homes in Rhode Island, Ohio, Kentucky, Pennsylvania, Connecticut, Utah and Michigan. The investors included both...
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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