News
Uncommon Developers Takes Community-Building Approach
Asked what Uncommon Developers seeks to bring about with its mixed-use and multifamily projects, co-founder Ryan Hekmat replied, “job creation.” More broadly, Hekmat told Connect CRE that the goal is to grow the local communities surrounding the projects. “Our focus is to create environments that strengthen communities economically and socially through housing, opportunity, public spaces, and experiences that elevate quality of...
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HUD Section 223(f) Loan Refinances Chula Vista Multifamily
Walker & Dunlop, Inc. arranged a $101,561,900 loan to refinance Enclave Heritage Flats, a 312-unit multifamily community in Chula Vista. A Walker & Dunlop Capital Markets Real Estate Finance and Walker & Dunlop Affordable Housing team, led by Gregory Richardson and Jeff Kearns, arranged the financing on behalf of the client, The Baldwin Company. The loan was secured through...
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Coastal NJ Apartments and Retail Sell in 1031 Exchange
ICON Real Estate Advisors arranged the $19.35-million sale of The Pavilion, a newly constructed 46-unit multifamily building located at 165 Pavilion Ave. in Long Branch, NJ, and an adjacent retail property at 231 Third Ave. The sale price included $18 million for The Pavilion and $1.35 million for the retail property. The buyer, Henshaw Realty, acquired...
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East Lyme Apartment Complexes Land $116M Freddie Mac Financing
Newmark arranged $115.6 million in financing to refinance The Cove at Gateway Commons and Sound at Gateway Commons, both located in East Lyme, CT. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac. “We were pleased to help our client secure 10-year fixed-rate financing that supports their long-term objectives, and...
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Vancouver’s Massive Oakridge Park Retail Centre Set to Open Thursday
Vancouver’s long-awaited Oakridge Park shopping development will officially open to the public on Thursday, marking the debut of what developers say will redefine retail and dining in the city. QuadReal Property Group, which co-owns the site with fellow Vancovuer-based firm Westbank will make the occasion with a ribbon-cutting ceremony Thursday morning. Doors will open to...
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Quebec City Condo Listings Rise, Sales Fall
Condominium listings in the Quebec City region rose 27% year-over-year in April while condo sales fell 6%, as rising supply and softening demand began easing some of the market pressure that has defined recent years,” according to the Quebec Professional Association of Real Estate Brokers (QPAREB.) A total of 1,006 residential transactions were recorded across...
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Empire Group Starts Work on $170M Phoenix Apartment Tower
Empire Group of Cos. has closed on a $131.2 million financing package and broken ground on The Whitney. The Phoenix Business Journal reports total development costs for the 24-story tower at the southwest corner of Central Avenue and McDowell Road in Phoenix are estimated at around $170 million. Financing includes an $84.7 million senior loan...
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Northmarq Arranges Refi for 199-Unit Corpus Christi Rental Community
Northmarq’s Debt + Equity team, led by Cheryl Higley and Ryan Shoars, arranged the refinancing of Wood River Apartments, a 199-unit multifamily community located in Corpus Christi. The Northmarq team arranged the fixed rate financing, on behalf of the borrower, through its in-house Northmarq Edge lending program. The transaction was structured as a non-recourse loan, five-year fixed rate, full-term interest-only, and step...
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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