M&T Realty Capital Corporation (M&T RCC) closed on a $141.4-million bridge loan for Anagram Turtle Bay, a newly constructed 194-unit multifamily community located at 300 E. 50th Stt. in Manhattan’s Turtle Bay neighborhood. The financing was provided to an ownership group led by Global Holdings, MAG Partners and Safanad. The three-year bridge loan, which includes...
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Marcus & Millichap has completed the sale of 1939 N. Kenmore Ave., an 18-unit multifamily property located in Los Angeles. The property sold for $5.28 million. “Properties with this charm and character that have been owned by the same family for several decades rarely come to market in Los Feliz,” said Jeff Louks, executive managing director investments. “The level of interest throughout the...
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Greystar has received a $3.8-million Housing Development Incentive Program (HDIP) award from the Massachusetts Executive Office of Housing and Livable Communities to support the redevelopment of 437 Whittenton St. in Taunton, MA. The long-vacant Whittenton Mills site will be transformed into a 390-unit apartment community set to become the largest modular residential project in Massachusetts. HDIP is a...
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The 800-acre campus of Hampshire College, the Amherst school that’s expected to shut down this fall, could be rezoned to allow for housing, community or business use, reported the Boston Business Journal. The town of Amherst aims to have a draft of the official zoning plans by January 2027, officials said. Housing, especially for seniors and students, is a...
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Interstate Equities Corporation (IEC), a vertically integrated real estate investment and management firm specializing in multifamily properties throughout California and Washington, reached the final close of IEC Institutional Fund VI (with $215 million in equity commitments. The new fund continues IEC’s value-add strategy of targeting multifamily communities of 40 to 400 units in supply-constrained West Coast markets. As of the final close, the...
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For the fourth year of our annual Leadership Series, Connect CRE has focused on the apartment sector. We invited 18 multifamily heavyweights to provide their unfiltered views of the current market, its challenges and opportunities. The insights of these power players have been collected in a downloadable report, and we’re also presenting them individually, in...
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David Bassal has joined Savills‘ Quebec industrial real estate practice, serving as a senior vice-president in the firm’s Montreal office. Bassal joined Savills from Michael White Realties, where he advised both tenants and landlords across a broade range of industrial real estate transactions. “Throughout his career, Bassal has advised clients on lease negotiations, asset dispositions,...
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Montrose Properties is appealing a British Columbia court judge’s refusal to add the firm as a party to the controversial Cowichan Tribes property-title case and reopen it. Montrose has submitted an appeal application to the B.C. Court of Appeal following B.C. Supreme Court Justice Barbara Young’s June decision that kept the company on the sidelines...
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Recckio Real Estate & Development
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