News
2,500 Apartments Proposed for Staten Island’s Empire Outlets and New York Wheel Sites
The Adams administration has unveiled a new vision for the Empire Outlets and New York Wheel sites on Staten Island’s North Shore. The plan would add up to 2,500 new residential units along the waterfront, along with expanded open space and retail options. The new vision will build upon the success of the Staten Island North...
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“Heavily Distressed” Tyler Rental Property Obtained by VaultCap
Marcus & Millichap announced the sale of The Broadstone, a 100-unit multifamily property in Tyler, Texas. Marcus & Millichap’s Fin Erwin listed the property, “This was a competitive and complex off-market transaction involving a heavily distressed asset that had been marketed by five other brokers for over a year. Despite significant deferred maintenance and low...
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Rockwell Picks Up 6th AZ Rental Property
Rockwell Property Co. completed the $33 million acquisition of Cimarron Apartments, a 210-unit multi-family property located one block from the center of downtown Mesa, Arizona. The seller was a local family that had owned Cimarron for more than a decade as part of a portfolio. The purchase marks Rockwell’s sixth acquisition in Arizona and its first in...
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Where C-PACE Financing Creates an Edge in Multifamily — Insights from Loren Biller
Some developers overlook C-PACE when planning multifamily financing simply because they’re less familiar with it than traditional options. Loren Biller, SVP of Originations at PACE Loan Group, is a featured speaker at Connect Southeast Multifamily coming up on December 4th in Key Biscayne and we caught up with him in advance of the event to explore the unique characteristics...
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Monument Capital Acquires 324-Unit Tallahassee Apartment Venture
Berkadia arranged financing for Grove Park, a 2021-built, 324-unit Class A apartment community in Tallahassee, Florida. David Etchison of Berkadia Central & North Florida arranged the sale on behalf of TrimCor. Brad Williamson of Berkadia Miami and Wes Moczul of Berkadia Orlando arranged acquisition financing on behalf of the buyer, Monument Capital Management of Coconut...
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Starlight Optimistic About North Van Multi-Family Market
Starlight Investments hopes to develop more multi-family projects in North Vancouver, B.C., after completing its first purpose-bult rental project in the city. “We would love to,” said Howard Paskowitz, Starlight’s vice-president of development and public affairs, said in an interview with Connect. “We’ve got a national perspective and a deep commitment to addressing Canada’s housing...
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Ariel Lines Up Acquisition Loan for Brooklyn Brownstone Portfolio
Ariel Property Advisors’ Capital Services team has arranged a combined $24 million in financing for the acquisition of a portfolio of four townhouse properties across some of Brooklyn’s most sought-after neighborhoods, including Cobble Hill, Boerum Hill, Park Slope and Williamsburg. Senior directors Matthew Dzbanek and Matt Swerdlow arranged the loans with one debt fund on behalf...
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Waverly Development Breaks Ground on Framingham TOD
Waverly Development has broken ground on a transit-oriented apartment community at 358 Waverly St. in downtown Framingham, MA, approximately 500 feet from the Framingham Commuter Rail station. The 181-unit urban infill project will rise on a long-underutilized site and will feature nearly 3,000 square feet of retail, 21 affordable apartments, and 230 garage parking spaces. “From day one,...
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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