News
Free-Market NoHo Apartments Generate Strong Buyer Demand
Marcus & Millichap finalized the sale of 312 Bowery, a multifamily property in Manhattan’s NoHo neighborhood, for $16.65 million. John Stewart and Dylan Torey of Marcus & Millichap exclusively marketed the property on behalf of the seller, Bremen House, Inc., and procured the buyer, Allied Realty & Development Corp. “Buyer demand was some of the strongest...
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Nicholas & Associates Tapped as Contractor for Ground-Up Multifamily Development in Madison
Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Companies, has been selected by Moyer Properties as the general contractor for Aster Flats, a 263-unit, three-building luxury rental community set on a 4.86-acre site in Madison, Wisconsin. The ground-up development is the latest in Nicholas & Associates’ Wisconsin portfolio,...
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Greystone Real Estate Capital Closes on Second Affordable Housing Fund
Greystone Real Estate Capital has closed on Greystone Affordable Housing Fund II LP, a $137-million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. The fund will support the development and preservation of approximately 1,960 affordable housing units across 20 properties in nine states. Approximately 84% of the equity is for developments by repeat developers. The portfolio...
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Enterprise Community Development Announces Redevelopment of Seniors Housing in Silver Spring
Enterprise Community Development, in partnership with Seabury Resources for Aging, announced the redevelopment of Springvale Terrace, an existing senior housing community in Silver Spring, Maryland. The redevelopment will replace the current aging property with a new, modern, mixed-income community designed to better serve low- and moderate-income seniors and support aging in place. Originally built in...
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Prime Residential Pays $51M for Miracle Mile Apartments
Marcus & Millichap closed the sale of Palm Court Apartments, a 132-unit multifamily property in the Miracle Mile neighborhood of Los Angeles. The asset traded for $51.25 million, or $388,258 per unit. “We created a competitive bidding environment, and the multiple offers we received underscore the continued demand for core Los Angeles commercial real estate,” said Jeff Louks,...
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Tree Street Group Closes on Financing for Chicago Geothermal Multifamily
Tree Street Group, together with development partners Magellan Development Group and Mark Goodman & Associates, has closed on construction financing for 410 N. Elizabeth, a 33-story high-rise in Chicago’s Fulton Market neighborhood. It will be an all-electric, geothermal multifamily high-rise and represents the first phase of a two-tower, mixed-use development. Financing included a senior loan...
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Calgary Condo Prices Fall 9% Amid Overall Market Slowdown
Calgary apartment-condominium prices fell 9% in June to a benchmark price of $299,000 as the overall market experienced a sales slowdown, says the local real estate board. A surge in high-density housing supply continued to soften the city’s resale market, said CREB in its monthly market report. June home sales totalled 2,197, up from May...
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AI Completely Changing Multi-Family Real Estate Decision-making Process: Altobelli
AI is completely changing the multi-family real estate decision-making process, says Yardi’s head for Canada. Multi-family investors, developers and operators can no longer base their decisions by using the conventional method of reviewing results from the past five to 10 years and applying them to the next five to 10 years, said Peter Altobelli during...
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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