News
Young Homebuyers Facing Affordability, Other Challenges
Strong equity gains over the past 30 years are dimming the dream for future generations of as home-ownership rates decline nationally and in major markets, according to a new report from RE/MAX Canada. In its analysis of data and market conditions, the RE/MAX Housing Market Drivers report found that, although each generation has faced significant...
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North Van 70-Year-Old Apartment Building Sells for $320K per Unit
A 70-year-old North Vancouver, B.C., apartment building has been sold for a strong average price of $320,000 per unit. The 10-unit Dianne Apartments at West 4th Street in Lower Lonsdale fetched a total price of $3.2 million, said Goodman Commercial, which helped broker the transaction. Upgraded over the years, the asset traded at a 3.2%...
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1M-SF Wynwood Plaza Debuts in Miami
L&L Holding Company and Oak Row Equities, along with project partner Shorenstein Investment Advisers (“Shorenstein”) and co-investor Claure Group, formally opened Wynwood Plaza at 95 NW 29th Street in Miami. A luxury apartment community and a Class AAA office tower anchor the one-million-square-foot urban campus. At the center of the development are a mix of shops...
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McDowell Building 16th Florida Affordable Housing Project
McDowell Housing Partners (MHP) announced the financial closing and the beginning of construction of Ekos at Pembroke Park, a 10-story, 150-unit affordable senior housing community located at 5595 S.W. 41st in Pembroke Park, Florida. It’s McDowell Housing Partners’ 16th affordable housing project to start construction in the state of Florida. Financing for the $64.68 million development was...
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Construction Debt on Brentwood Multifamily Retired via HUD Loan
Gantry secured a $48.9-million permanent loan to retire construction financing for the development of the Silvergate Apartments at 1290 Business Ctr. Dr., Brentwood. Principal Tom Dao and senior associate Erinn Cooke with Gantry’s San Francisco production office represented the borrower, a private real estate investor. The 35-year, fixed-rate, non-recourse loan was secured via a HUD...
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East New York Development Site Will Support Mixed-Use Affordable
Ariel Property Advisors arranged the $7,050,000 sale of 749 Van Sinderen Ave., a development site in the East New York neighborhood of Brooklyn. The 22,500-square-foot lot was recently rezoned from M1-1 to C4-4L, resulting in 103,500 buildable square feet of mixed-use development potential. An Ariel team led by partner Sean R. Kelly, director Stephen Vorvolakos and senior associate...
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Sacramento Apartments with Strong Track Record Fetch $55M
CBRE facilitated the $54.6-million sale of The Falls at Arden, a 272-unit multifamily community located at 2345 Northrop Ave. in Sacramento. The property was acquired by locally based Jackson Square Properties. Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller, Demmon Partners, a family-owned real estate investment, management and development firm based in Sacramento. Ryan Greer and Trevor Breaux with CBRE’s Capital...
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Interra Realty Brokers Sale of Vintage Apartment Building in Old Town
Interra Realty brokered the $2.95 million sale of 1350-1352 N. Cleveland Ave., a six-unit apartment building in Chicago’s Old Town neighborhood. The sale equated to $492,000 per unit. Interra Senior Managing Partner Brad Feldman represented the seller, Highland Real Estate Partners. Feldman also represented the buyer, a private investment firm. The building was fully occupied...
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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