News
S3 Raises $1.3B of Capital with Third Credit Fund
Private construction lender S3 Capital announced the final close of S3 LB RE Credit Fund III with $850 million of discretionary fund commitments and an additional $465 million of co-investment commitments. The fund closed at its hard cap, exceeding its initial $650-million target. The fundraise brings total investable capital to approximately $1.3 billion and supports expected loan...
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RioCan Selling $379M Worth of Canadian Apartment Assets
RioCan is in the process of selling Canadian apartment assets for $379 million as it accelerates the monetization of its RioCan Living portfolio and shifts capital toward its retail-focused strategy, the REIT announced in its quarterly earnings report. Toronto-based RioCan completed the previously announced sale of the Underwood Apartments in Calgary and reached. The REIT...
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Marcus & Millichap Sells Minnesota Apartments in 1031 Exchange
Marcus & Millichap completed the sale of Falcon View Apartments, a 36-unit multifamily property located in Falcon Heights, Minnesota, for $5.09 million. The property is situated on 1.56 acres at 1800-1818 Larpenteur Ave. W. near the University of Minnesota’s St. Paul campus. “We continue to see strong interest in the submarket of Falcon Heights,” said...
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Canadian Residential Rents Fall for 19th Consecutive Month
The average asking rent for all residential properties in Canada declined 4.7% year-over-year in April to $2,027, marking the 19th consecutive month of annual rent decreases, according to the latest National Rent Report from Rentals.ca and Urbanation. Average rents were down about $100 from a year earlier and 7.4% lower than two years ago, although...
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California-Based Company Purchases Portland Apartments for $31M
California-based Laurel Property Group has purchased the Grant Park Village Quimby apartment property in Portland, Oregon, for $30.7 million, or $183,832 per unit. The complex at 1580 N.E. 32nd Ave. in the Grant Park neighborhood has 167 studio, one- and two-bedroom apartments. The apartment community also has a fitness center, resident lounge, pet spa and...
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Minto Completes Sale of Toronto Apartment Property for $90.75M
Minto Apartment REIT has completed the sale of its 150 Roehampton property in Toronto’s Midtown areaa for $90.75 million to an unidentified private real estate investor. The sale price represents a premium to the REIT’s IFRS value for the asset, Minto said previously. Net proceeds of approximately $67 million, after mortgages and commissions, are expected...
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JVM Realty, DRA Advisors to Acquire 340-Unit Multifamily Property in Plainfield
JVM Realty Corp. has entered into a joint venture partnership with DRA Advisors to acquire Enclave at 127th, a 340-unit multifamily community located in Plainfield, Illinois. Enclave at 127th has been part of JVM Realty’s portfolio since 2014. Built in 2013, the community offers a mix of studio, one-, two- and three-bedroom apartment homes in...
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BMC Lands $68M Refi for Denver-Area Apartments
BMC Investments and Rockpoint have closed on a $68 million refinancing on the Madison at Copperleaf, a 330-unit apartment project in Arapahoe County, just outside Denver. The three-year, floating-rate bridge loan was arranged by Walker & Dunlop and was provided by Prime Finance. The Walker & Dunlop Capital Markets Institutional Advisory team was led by Dustin Stolly,...
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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