News
Phoenix Eyeing City Land for Transit-Oriented Mixed-Use Project
The City of Phoenix is rezoning nearly 1.5 acres at the corner of 35th Avenue and McDowell Road to encourage residential and commercial redevelopment near public transit. AZBEX reports Phoenix owns the property and, once rezoning is secured, plans are to issue a request for proposals for redevelopment of the site. The city said once a successful...
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Terra, AB Ink $410M Loan for Miami Condos
Terra and AB Asset Management secured a $410 million construction loan, allowing them to move ahead on the construction of 194 condos at the site of the former Malone Hotel. The hotel has since been demolished and the development team is ready to go on what will be dubbed the Well Coconut Grove. Tyko Capital...
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Hawthorne Pays Nearly $61M for Cary Apartments
Hawthorne Residential Partners agreed to terms with DRA Advisors on the sale of The Hawthorne at the Parkway, a 247-unit apartment complex in Cary for $60.85 million. DRA Advisors has changed the property’s name to Crestline Cary. The complex, which is 92% leased was built in 1992. The Triad Business Journal reports Hawthorne Residential Partners...
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Bascom Venture Sells Oxnard Apartments to Hines for $105M
Bascom Northwest Ventures, LLC closed announce the sale of Tempo at Riverpark Apartments in Oxnard. The 235-unit property was sold by a Bascom-affiliated venture for $105,000,000 to a venture led by Hines. Located adjacent to The Collection at Riverpark, a shopping center anchored by Whole Foods, REI and Cinemark, Tempo at Riverpark was developed and...
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Greystone Provides Bridge Loan, Preferred Equity on New Rochelle Rentals
Greystone provided a $125.8-million bridge loan and arranged $19.5 million in preferred equity financing for The Alary, a newly completed 315-unit multifamily property located in New Rochelle, NY. The bridge loan was originated by Greystone’s Donny Rosenberg and Jared Kaufman, with preferred equity placement led by Greystone Capital Advisors’ Matthew Zisler. The financing was structured...
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Bank of Canada Expected to Hold Prime Rate at 2.25%
The Bank of Canada is expected to hold its key overnight lending rate at 2.25% again Wednesday amid ongoing trade tensions with the U.S. The BoC will announce its decision on Wednesday as Prime Minister Mark Carney’s government continues to negotiate a new Canada-U.S. trade with little sign of progress. The U.S. Federal Reserve is...
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Northmarq Arranges $66M Financing for Kansas City Apartments
Northmarq’s Kansas City Debt + Equity team, led by Greg Duvall, arranged $65.677 million in financing for the Residences at Prairiefire, a 426-unit low-rise apartment community located in Overland Park, Kansas, acquired by Price Brothers. Northmarq secured the acquisition financing on behalf of Price Brothers through Freddie Mac. The transaction was structured with a 10-year...
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Fairlawn, Promus Realty Properties to Develop UIUC Student Housing Project
Fairlawn, together with Chicago-based Promus Realty Properties, announced a joint venture to deliver Mosaic, a 283-unit and 371-bed student housing community adjacent to the University of Illinois Urbana-Champaign’s (UIUC) Engineering Campus. Located at 401 S. Wright Street, site demolition is complete, and construction is now underway. Mosaic will feature elevated amenities including a sky lounge,...
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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