News
Ontario Government Dismisses All RECO Board Members
The Ontario government has fired the Real Estate Council of Ontario’s entire board as a provincially appointed administrator takes control of the regulator. RECO confirmed to The Toronto Star and some other media outlets that all eight board members “cease to hold office upon the appointment of the administrator.” Jean Lépine, who started this week...
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Berkadia, NYU Stern Host University Teams for Second Annual Case Competition
Berkadia recently partnered with the Chen Institute for Global Real Estate Finance at NYU Stern School of Business for the second annual Multifamily Investment Case Competition, held Oct. 16-18. Graduate student teams from leading universities nationwide explored the evolving single-family rental (SFR) and build-to-rent (BTR) asset classes. They presented hypothetical investment strategies for a high-impact...
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Fannie Mae Loan Provides Cash-Out for Inglewood Apartments
Lument closed a $74-million Fannie Mae conventional multifamily loan to refinance Astra Apartments, a 243-unit, class A mixed-use property in Inglewood. Chicago-based managing director Ted Nasca led the transaction on behalf of Black Equities. The fixed-rate Fannie Mae loan was structured with a five-year term, full interest only, and provided cash-out proceeds. Founded in 1989...
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Connecticut-Based Owner-Operator Nabs Wilton Apartments
A CBRE team led by Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer closed the sale of White Oaks at Wilton, a 100-unit apartment community located in the Fairfield County community of Wilton, CT. CBRE represented the seller, LaSalle Investment Management, and procured the buyer, CT Realty Trust, a Connecticut-based multifamily owner, operator and...
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Laurentian Bank to Be Sold for $1.9B
Fairstone Bank will acquire Laurentian Bank for $1.9 billion, and National Bank will take over its retail and small-business banking operations, the financial institutions announced Tuesday. After the proposed deals close, Laurentian’s 57 retail locations in Quebec will be shuttered. Its approximately 2,700 employees will not be transferred, but they will have a chance to...
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Fairstead Completes $35M Acquisition of 120-Unit Virginia Apartments
Fairstead announced the acquisition and planned renovation of Landmark Apartments, a 120-unit affordable housing community in Chesapeake, Virginia. The total acquisition and rehabilitation costs amount to $34.8 million. Funded through the Low Income Housing Tax Credit (LIHTC) and Project-Based Voucher programs in collaboration with U.S. Bank, Berkadia, Freddie Mac, Virginia Housing and Chesapeake Redevelopment and...
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FPA Multifamily Buys $175M Streeterville Residential Tower
FPA Multifamily has purchased a Streeterville tower for nearly $175 million. The California-based real estate investment firm bought the 398-unit apartment building at 340 East North Water Street in Chicago. The transaction marks the highest price for a Chicago apartment building in more than two years, reported Crain’s. A venture of FPA Multifamily bought the...
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Massive Mixed-Use Venture Planned for Goodyear
Harvard Investments is seeking approval for a 1,940-acre planned development in Goodyear. The master-planned community would include thousands of new homes and apartments, as well as retail, dining, and a potential resort. The plan will soon be presented to the city’s planning and zoning commission. The Phoenix Business Journal reports the project is to be...
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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