News
JV to Develop $67M Ground-Up MF Project in Lehigh Valley
A joint venture led by Greystone Capital, Black Bear Asset Management (BBAM), and The Crest Group (TCG) will develop 1493 Van Buren Road, a $67 million multifamily community in Palmer Township, Pennsylvania. Black Bear Capital Partners served as the advisor on the land acquisition, arranging an 18-month, $8.35 million financing to support the acquisition and fund...
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$3M Grant Awarded to Portland Veteran Housing Project
First A.M.E. Zion Church, in partnership with Logos Faith Development and Rivermark Community Credit Union, announced a $3 million grant to help build housing for veterans in Portland, Oregon. The grant will support the development of 44 units of housing for veterans and their families. “Receiving this $3 million award is nothing short of a...
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California Rent Control Bill Stalls in Committee
A California Assembly bill to limit allowable rent increases and expand rent control to housing types that are currently exempt has failed to advance in committee, halting the measure for this legislative session, the California Apartment Association (CAA) reported. The bill by Assembly member Ash Kalra (D-San Jose) fell short of the votes necessary to...
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Transcend Development Group Buys West Pullman Apartments, Plans Renovations
California-based Transcend Development Group has acquired the 180-unit Indian Trails Apartments at 221 E. 121st St. in West Pullman and plans to invest $25 million to renovate the multifamily complex. The real estate development and investment firm paid $21 million to acquire the property from Sausage King of Chicago and will invest $25 million to...
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Iconic Dallas Highrise to Revert to Lender
A Dallas highrise owner plans to surrender a historic downtown Dallas skyscraper as part of a foreclosure matter. The Dallas Morning News reports building owner Shawn Todd could not pay off The National’s roughly $230 million in debt. Todd says he will turn the 52-story building over to Starwood Capital Group, the lender. The tower...
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Bascom Pays $53.4M for Tucson Apartments
Bascom Arizona Ventures acquired The Retreat at Speedway, a 304-unit multifamily property located at 7401 E Speedway Blvd in Tucson for $53.4 million. The property was acquired by Bascom’s current fund offering, Bascom Value Added Apartment Investors VI, LLC. Weidner was the seller. Located at 7401 E Speedway Blvd, the two-story, garden-style property offers residents...
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Coastland Pays $14.5M for Miami-Dade Apartment Site
After paying $14.5 million for 4.37 acres in Miami-Dade County, The S. Florida Business Journal reports Coastland Construction is planning to move ahead on a 366-unit apartment complex near Tropical Park. Leal Capital sold the property, which now has 111,000 square feet of industrial space on it. The warehouse park is scheduled to be demolished...
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Phillips Collective Debuts $200M Charlotte Rental Community
The Seventeen Hundred on East opened its doors at 1755 Lombardy Circle. Developer Phillips Collective expects costs to approach $200 million, Seventeen Hundred has 295 residences across 57 floor plans. Seventeen Hundred’s amenity collection spans indoor and outdoor spaces including an edgeless rooftop pool with cabanas and daybeds, rooftop outdoor kitchens, private dining rooms with...
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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