News

Broad Creek Spends $94M on Charlotte Value-Add Apartments

Atlanta & Southeast + Apartment Buildings

Broad Creek Capital (“BCC”) bought its first apartment property as part of its new value-add fund. The company closed the BCC MAF I, a private-markets investment firm focused on U.S. real estate assets with a target of $150 million in total capital commitments. BCC MAF I completed the off-market acquisition of Loft One35, a 298-unit multifamily...

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Cortland Buys 19 Elme Communities

Atlanta & Southeast + Apartment Buildings

Atlanta-based Cortland announced a portfolio acquisition from Elme Communities (NYSE: ELME). The $1.6 billion transaction consisted of 19 multifamily properties encompassing nearly 6,000 units.  The acquisition grows Cortland’s footprint in Washington, D.C., Northern Virginia and Atlanta. Cortland plans to renovate the properties by modernizing unit interiors, upgrading amenities. The portfolio sale marks the first step...

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Tenants Show Increasing Demand for Hamilton, Vancouver, Regina Apartments

Canada + Apartment Buildings

Multi-family tenants are showing increased demand for Hamilton, Vancouver and Regina, says a new report from RentCafe. Hamilton made the largest jump on RentCafe’s renter-interest list in the third quarter, moving up 12 positions to 12th overall. Vancouver rose 11 places to No. 11, marking the only large city to see a major renter-engagement boost...

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Province Set to Assume Control of Embattled RECO

Canada + Apartment Buildings

The Ontario government has received an auditor’s report on shuttered iPro Realty, but the findings are not yet being made public, The Toronto Star reported. The Real Estate Council of Ontario announced that its board has received a copy of the report compiled by law firm Dentons, and the results were shared with Stephen Crawford,...

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H&R Plans to Divest $2.6B in Assets Following Strategic Review

Canada + Apartment Buildings

H&R REIT plans to sell approximately $2.6 billion in assets following a months-long review of strategic alternatives.,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,WQEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE. The move comes after the REIT’s special committee engaged:L with multiple interested parties that had initially submitted a non-binding expression of interest to acquire all of H&R’s assets. Through late winter and spring, the committee evaluated the proposals,...

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CEDARst Breaks Ground on Second San Diego Multifamily of 2025

California & West + Apartment Buildings

CEDARst Companies, a nationally recognized multifamily real estate developer, broke ground on Bancroft Lofts, a $106-million multifamily community located at 3760 Bancroft St. in San Diego’s North Park neighborhood. The 255,000-square-foot development will deliver 218 apartments, with completion anticipated by December 2027. Bancroft Lofts marks CEDARst’s second project to break ground in San Diego this...

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Arrow Arranges CMBS Refi Through Deutsche Bank for Hyde Park Multifamily

New York & Tri-State + Apartment Buildings

Arrow Real Estate Advisors has arranged a $50,000,000 refinance on behalf of Lexington Property Group for The Royal Ledges Apartments, a 19-building, 222,000-square-foot, 272-unit multifamily community located at 4676 Albany Post Rd., Hyde Park, NY. The loan was provided by Deutsche Bank. Arrow founder and managing partner Morris Betesh, director Israel Mermelstein, SVP Omar Ferreira...

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Broad Creek Capital Announces First Close of $150M Multifamily Fund

Washington DC + Apartment Buildings

Broad Creek Capital, a private-markets investment firm focused on U.S. real assets, announced the first close of BCC Multifamily Advantage Fund I, its dedicated U.S. value-add multifamily vehicle. The fund is anchored by a select group of U.S. municipal institutions and family offices across the United States and Europe. The close of the fund marks...

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