News

JV Secures $195M for Residential Development in Arlington

Chicago & Midwest + Apartment Buildings

Hoffman & Associates has partnered with Snell Properties and Mitsui Fudosan America, Inc. to develop 4600 Fairfax, a $195 million residential community in Arlington’s Ballston neighborhood. Hoffman & Associates, Snell Properties and MFA are co-developing the project, an approximately 550,000-square-foot community spanning more than four acres in Arlington’s Ballston neighborhood. The senior construction loan is...

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Oregon Community Foundation Launches $100M Housing Fund

Seattle & Northwest + Apartment Buildings

The Oregon Community Foundation is launching the Building Hope Fund, a $100 million housing fund aimed at helping developers build 10,000 new homes for middle-income residents. Oregon is currently building only about half of the 30,000 units needed every year to pull the state out of its housing crisis. “We hear it from business owners all...

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Rockstar Obtains Refi for 298-Unit Houston-Area Apartment Community

Texas + Apartment Buildings

Marcus & Millichap Capital Corporation (MMCC) arranged a $54 million HUD refinance for Lakeview at Westpark, a 298-unit multifamily asset in Richmond, Texas. MMCC’s capital markets team was led by Brandon Brown. Brown represented Rockstar Capital and secured the financing through KeyBank at a fixed rate of 5.3% with 35 years of amortization.  The rental asset...

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Music Row Apartment Owners Score Refi

Knighthead Funding in partnership with Speedwagon Capital Partners arranged a $27 million refinancing for Signature Music Row – a newly constructed 105-unit Class A multifamily property located at 1005 16th Avenue South in Nashville, Tennessee. Preiss utilized the loan to refinance its construction loan. Preiss is a privately held student housing owner, developer, and operator....

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Crescent Adding to Nashville Rental Community Portfolio

Atlanta & Southeast + Apartment Buildings

Crescent Communities started work on NOVEL Richland Creek, a multifamily and mixed-use community in West Nashville. Crescent Communities’ other area projects include NOVEL Edgehill, NOVEL Harpeth Heights, NOVEL West Nashville, NOVEL Music Row, NOVEL Bellevue Place, NOVEL Lockwood Glen, and Crescent Cool Springs. NOVEL Richland Creek is being developed in partnership with Stockbridge Capital Group, with...

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IPA Arranges First 50-Unit-Plus Encino Multifamily Sale Since 2017

California & West + Apartment Buildings

Institutional Property Advisors (IPA), a division of Marcus & Millichap dedicated to serving the company’s institutional clients, arranged the sale and financing of Park Encino, a 52-unit apartment property in the Encino neighborhood of Los Angeles. The property sold for $28 million, which equates to $538,462 per unit. “Despite favorable demographics, strong submarket fundamentals, and increased demand for housing, no...

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Using Automation to Win Deals: Q&A with Henry AI’s Sammy Greenwall

New York & Tri-State + Apartment Buildings

A broker’s success is based largely on interpersonal skills, yet those skills can be undercut by the time and effort required to complete the manual tasks that are essential to getting a deal done. The dynamic is similar for sponsors looking to bring in limited partners and finding that the hours it takes to put together deal decks are hours that could be better spent...

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Holborn Offering Price Protection on Little Mountain Condo Project

Canada + Apartment Buildings

Holborn Properties is offering future condominium price protection on presales at its Little Mount development project in Vancouver, The Vancouver Sun reported. The program would would cover any drop in condo value if purchasers resell their units three to five years after completion, according to the Sun The incentive is tied to Vesa, a planned...

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