News
URI, Gilbane Break Ground on Expanded Campus Housing
The University of Rhode Island (URI) and Gilbane broke ground Wednesday on the first of three new on-campus residence facilities in Kingston, RI. Through a public-private partnership, Gilbane will develop and build two new residence halls with apartment-style suites on Flagg Road, located on the northwest side of campus, and reconstruct the Graduate Village Apartments...
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Ethos Commercial Advisors Arranges Construction Financing for Vancouver MF
Ethos Commercial Advisors secured construction financing for Ellison Ridge, a 222-unit, 200,000-square-foot multifamily development in Vancouver, Washington. The project is located near downtown Vancouver, an area experiencing strong year-over-year rent growth and sustained inbound migration. The development will include nine residential buildings ranging from two to three stories, along with a single-story clubhouse. Ellison Ridge...
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Ballast Expands Residential Portfolio with $23M Seattle Investment
Ballast has acquired Serene Terrace, a premier 55-plus manufactured housing community in Lynwood, Washington, within the Seattle metropolitan area. The $22.8 million acquisition strengthens Ballast’s growing manufactured housing portfolio. Serene Terrace includes 131 sites and is currently 90% occupied. Ballast has allocated nearly $2.5 million toward capital improvements focused on upgrading infrastructure, enhancing amenities, and...
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BHI Provides $56M to Redevelop Richmond Office Tower into Hotel, Multifamily Project
BHI, the U.S. Branch of Bank Hapoalim, B.M., has provided developer Douglas Development with a $56 million construction loan to reposition the former Dominion Energy high-rise office building located at 707 East Main Street in downtown Richmond, Virginia. The financing is part of a broader $158.44 million capitalization for the project at the 20-story Eighth...
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CUSMA Uncertainty Prompts BoC to Hold Key Interest Rate at 2.25% Again
The Bank of Canada held its overnight lending rate at 2.25% again Wednesday amid ongoing trade tensions with the U.S. and economic uncertainty. Bank of Canada Governor Tiff Macklem cited uncertainty surrounding the reopening of the Canada-U.S.-Mexico Agreement as a key factor in the decision. Commercial real estate industry reaction to the hold was somewhat...
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JV Debuts Denver Apartment Venture
A three-team joint venture delivered The Bellwether, a 253-unit rental community in the Denver Tech Center. The Bellwether development team consisted of Opus, Miller Global Properties, and Principal Asset Management. The Denver Business Journal reports the development, at 7831 E. Union Ave. replaced a surface parking lot next to a 13-story office building. The building fills...
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Centurion Purchases 748-Bed Texas State Student Housing Project
Palantine Capital Partners offloaded Arba San Marcos, a 240-unit student housing community serving Texas State University in San Marcos. The buyer was Centurion Property Group. The San Antonio Express-News reports that Centurion took out a $42.5 million loan from Ladder Capital Finance of New York to make the purchase. Arba San Marcos was built in...
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MG Picks Up 330-Unit Farmers Branch Rental Community
A joint venture comprising HLC Equity and the Hampshire Cos. sold Sola Galleria, a 330-unit multifamily community in Farmers Branch. MG Properties was the buyer. The property offers one- and two-bedroom units, along with amenities such as a pool, fitness center, computer lounge, coffee bar, clubhouse kitchen, zen lounge, outdoor grilling and dining stations, and...
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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