New York-based KKR & Co. has expanded its Seattle-area footprint with a pair of acquisitions totaling $172 million. CBRE arranged the sale of CRU at Willows 124, a 195-unit, new-construction multifamily community in Redmond, Washington, for $94 million. CBRE represented the seller, Goodman Real Estate, in the transaction. CBRE also brokered the $78 million sale...
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PCCP has provided an $80 million loan to Foulger-Pratt for the refinance of The Rae, a 343-unit, apartment property located at 10401 Motor City Drive in Bethesda, Maryland. Foulger-Pratt completed development of the property in 2023. The Rae is a wrap-style apartment asset with units spanning studio, one-bedroom, and two-bedroom floor plans with an average...
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Christie Love Thomas has been promoted to president at Jona Capital, the Love family’s investment arm, which has a controlling interest in Kingsett Capital, one of Canada’s largest institutional investment firms. Love moved up from her formper position of vice-president of strategy. Clarke has revamped its senior executive team and those of its subsidiaries Ravelin...
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InterRent has closed on its $4-billion friendly takeover by international investors, the REIT announced Thursday. Carriage Hill Property Acquisition Corp. — a newly formed entity owned by Ottawa-based CLV Group and Singapore-based GIC — acquired InterRent in an all-cash transaction, including net debt. Operating like a special-purpose acquisition company common in the U.S., Carriage Hill...
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S3 Capital originated a $111 million construction loan to finance the development of Sense22, a 36-story multifamily development located at 114-138 NE 22nd St in Edgewater, Miami. JLL Capital Markets’ Max La Cava worked on behalf of HA Emprendimientos to arrange the financing. HA Emprendimientos develops residential and mixed-use projects across the United States and Latin...
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Tareen Development Partners plans to bring 311 apartment units to a former strip club site in Nashville. The property is the former home of Pure Gold’s Crazy Horse. It would include 36 proposed studios, 166 one-bedroom, 71 two-bedroom, 35 three-bedroom and three live-work units. Reid Shippen acquired the property from Nashville-based development firm The Mainland Cos....
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Lion Real Estate Group acquired Briarhill Apartments, a 292-unit multifamily community at 1470 Sheridan Rd. N.E. in Atlanta. Built in 1988, the approximately 254,624-square-foot property is on nearly 10 acres of land and is 94% occupied. The Atlanta Business Journal reports Lion paid $51 million for the property. Beacon Real Estate Group.was the seller. “This...
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(Rather than using the buildup of unsold condos as a learning opportunity, politicians and pundits have again looked for a scapegoat, write Goodman Commercial brokers Mark Goodman, Ian Brackett and Megan Johal in this guest column for Connect.) By Mark Goodman, Ian Brackett and Megan Johal, Goodman Commercial Nobody eats their own quite like Canadian...
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