News
Adam Neumann’s Flow Makes First West Coast Acquisition
Flow, the real estate company founded by WeWork co-founder Adam Neumann, has acquired The Fay residential tower at 10 E. Reed St. in downtown San Jose for $175 million, the Silicon Valley Business Journal reported. The deal marks the company’s entry into California and the West Coast more broadly. The 336-unit apartment building at Reed and Market...
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Crescent Debuts 151-Unit Lawrenceville BTR Community
Crescent Communities opened its latest build-to-rent community, this one in Lawrenceville. The 151-unit project will be Crescent Communities’ 13th multifamily investment in the greater Atlanta market. Its the first under its Harmon brand. Harmon Cedar Run includes a mix of new townhomes and single-family houses with three or four bedrooms, none of them for sale. Rents for...
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Converted Belmont Mill Trades for $55.5M
Harbor Group International purchased Chronicle Mill at 96 Catawba St. in Belmont from Armada Hoffler Realty Trust (AH). The Charlotte Business Journal reports the Chronicle Mill is a 238-unit adaptive-reuse apartment complex with 9,000 square feet of commercial space. The project comprises Studio, 1 Bed, and 2 Beds. Rents range from $1,335 – $2,176 per month....
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Inland Waterfront Destination Slated for Miramar
Sunbeam and Stiles are building what they say is the first inland waterfront destination in South Florida. Miramar Cove officially broke ground on May 27 in Miramar. Nearly one-third of the 125-acre site is dedicated to water, including fountain shows and a cove filled with translucent blue water surrounded by walkways, restaurants, and gathering spaces. The project’s...
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Covina Apartments Trade on In-Place Cash Flow, Rental Upside
Marcus & Millichap has closed the sale of Vincent Village, a 40-unit apartment property located at 4810 N. Vincent Ave. in Covina. The property sold for $8.2 million, or $205,000 per unit, at a 5.9% cap rate with approximately 29% rental upside.. “The property was located in unincorporated Los Angeles County where annual rent increases...
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Ariel Arranges Condo Construction Loans in Brooklyn, Queens
The Capital Services Group of Ariel Property Advisors recently closed three loans from private lenders totaling more than $17 million to finance condominium construction projects in Brooklyn and Queens. An Ariel team led by senior director Matthew Dzbanek and director Nicholas Campoli arranged the loans on behalf of the developers. The loans included the following: A $6.85-million...
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PCCP, Alliance Residential Snap Up Garden-Style Riverside Complex
A joint venture between PCCP and Alliance Residential Company completed the $65.3-million acquisition of The Hawthorne, a 184-unit multifamily community located at 9170 Indiana Ave. in Riverside. The seller was not disclosed. Delivered in 2023, The Hawthorne is a garden-style multifamily community consisting of 16 three- and two-story buildings and one single-story amenity building. The property...
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Regulatory Issues Hold Back Canadian Housing Starts
Regulatory barriers and structural factors have constrained Canada’s housing-supply responsiveness for almost two decades, according to new analysis from the Canada Mortgage and Housing Corporation. As result, housing starts have not kept pace with demand, and the roadblocks have contributed to higher home prices, CMHC Chief Economist Mathieu Laberge wrote in the report. CMHC found...
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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