News
Berkadia Arranges Sale, Financing of 270-Unit VA Multifamily Property
Berkadia has arranged the sale and financing of Masons Keepe, a 270-unit garden-style multifamily community located in Manassas, Virginia. Senior Managing Director Brian Crivella, Managing Directors Bill Gribbin and Yalda Ghamarian, and Associate Director Jack Canepa of Berkadia DC Metro, along with Senior Managing Director Drew White of Berkadia Richmond, arranged the sale on behalf...
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CIM Group, Hulic Acquire West Hollywood Apartment Property
CIM Group completed the acquisition of Domain WeHo, a 166-unit apartment community in West Hollywood, in partnership with Hulic Co., Ltd. Although terms were not disclosed, LA Business First reported that the previous owner, RREEF Property Trust, paid more than $103 million in 2019. Domain is a seven-story building with 9,185 square feet of ground-floor...
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Kiser Group Brokers $12M Sale of Rogers Park Apartment Building
Kiser Group Directors Jacob Price and Katie LeGrand facilitated the sale of a 78-unit apartment building located at 6748-50 North Ashland Avenue in Chicago’s Rogers Park neighborhood for $11.5 million. The property was acquired by a local owner-operator with an existing portfolio in the neighborhood. Originally constructed in 1927, the vintage mid-rise building features prominent...
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JV Snags Refi on Tempe Student Housing Community
A joint venture between Trinitas Ventures and Harrison Street Asset Management obtained a floating-rate bridge loan to refinance Atmosphere Tempe, a 530-bed student housing community in Tempe, Ariz. TSB Capital Advisors arranged the deal, while PGIM originated the debt. Multifamily News reports that previous financing included a $63.5 million loan from BMO Bank. The developers...
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Core Spaces, Harrison Street Score Refi on Princeton BTR Community
A joint venture between Core Spaces and Harrison Street Asset Management closed on a refinancing of a 408-unit build-to-rent community in Princeton, Texas. Multifamily News reports the note retires a previous $86 million construction loan issued by Western Alliance Bank in 2023, Newmark’s Jonathan Firestone, Blake Thompson, Clint Frease Travis Bailey and Josh Francis secured the latest financing, provided by...
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Tannos Inks Bridge Loan for 163K-SF Friendswood Mixed-Use Project
Concord Summit Capital arranged $28 million in mid-construction financing for The Albritton, a 163,176-square-foot mixed-use project midway between Houston and Galveston, Texas. The debt was structured on a non-recourse basis at a 70% loan-to-cost ratio. Tannos Development Group is the developer. The Albritton, located at 408 S. Friendswood Drive, Friendswood, consists of 111 Class A apartments, 11,000 square feet of ground-floor retail, 9,000 square feet of office space, and a 72,000-square-foot parking garage. The development features an elevated pool and gym,...
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Graycliff Capital Offloads Two Augusta Apartment Communities
Berkadia brokered the sale and financing of two garden-style multifamily properties in Augusta, Georgia: Stevens Creek Commons and Marks Church Commons. Berkadia’s Mike Riley, Ian Shaw, Andrew Mays and Paul Vetter led the sale on behalf of the seller, Haley Real Estate Group. Jake Adoni and Jeremy Lynch of Berkadia’s Philadelphia office secured financing through...
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Work Underway on West Palm Beach Apartments, Hotel
Construction is underway on two projects adjacent to West Palm Beach’s Brightline station. Developers LD&D and IGEQ, together with capital and investment partner FrontRange Capital Partners, started work on Alida Residences, a 181-unit luxury multifamily community, and a 112-key hotel under Marriott’s Tribute Portfolio flag. Both will be developed simultaneously as distinct residential and hospitality properties. The properties will be surrounded...
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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