News
Ballast Returns to Pacific Heights with 1690 Broadway Acquisition
Ballast, a vertically integrated real estate investment and operating platform, has acquired 1690 Broadway, a trophy multifamily property in San Francisco also known as the Grosvenor Atrium. The 80-unit community in San Francisco’s Pacific Heights neighborhood came to market earlier this year for the first time in half a century. The purchase price was not...
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Luxury Lincoln Park Apartment Development Launches Pre-Leasing
Moyer Properties has started pre-leasing at The Maven, an 84-unit luxury apartment community at 537 W. Drummond Place in the heart of Chicago’s Lincoln Park neighborhood. Cross Street is the exclusive leasing and marketing firm for the property. The seven-story mid-rise offers a collection of studio, one-bedroom, and two-bedroom residences ranging from 415 to 1,047...
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One Camelback Office-to-Apartment Conversion Nearly Complete
Kinella Capital and developer TK Stratton are making strides with One Camelback, the adaptive reuse project that was stalled until earlier this year. Kinella Capital purchased the onetime office building last year for $36 million and is moving fast on the repositioning. The project, on the corner of Camelback and Central, is on track for...
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American Ventures Moving Ahead on $250M Elgin Development
Elgin Commons, a new, 46-acre mixed-use development featuring approximately 300,000 square feet of retail space and a 125-key hotel, is set to be developed in Elgin. The $250 million project currently includes a national restaurant breakfast chain, a national automotive repair operator, and a medical developer with additional retail and service offerings available. The Elgin...
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NY State Seeks Community Input for Aqueduct Racetrack Redevelopment
The Hochul administration has launched a community engagement and site planning process for the approximately 100-acre state-owned Aqueduct Racetrack in South Ozone Park, Queens. Beginning this month, Empire State Development will conduct a series of community workshops and outreach initiatives to gather input from the public on priorities including housing, public open space, retail and...
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Yardi Matrix Reports “Tepid” Multifamily Rent Growth in April
U.S. multifamily advertised rents rose $4 month-over-month in April to an average of $1,758, but rents remain down 0.2% year-over-year., Yardi Matrix reported. Although April saw a second month of growth after declining during the winter, the increase was “tepid” compared to historical seasonal levels, according to the firm’s Multifamily National Report. Advertised rents are...
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Grand Peaks Sells Miami-Area Apartments for $65.5M
Grand Peaks Properties sold Cascade at the Hammocks, a 264-apartment complex at 10605 Hammocks Blvd., to Bowery Properties for $65.5 million. The S. Florida Business Journal reports that the buyer assumed the seller’s $40.58 million mortgage with JPMorgan Chase through a commercial mortgage-backed securities (CMBS) trust. The price worked out to $248,106 per unit. The West...
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Work Underway on Massive Apex Development
Site work is wrapping up and construction workers are ready to start building on what will be a $3 billion development in Apex. The Triangle Business Journal reports RXR is developing the 1,200-acre Veridea site, which will start with two industrial buildings totaling 213,000 square feet. 1.3 million square feet of warehouse space is planned....
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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