News
Montreal Developers Say REM Costs Are Squeezing Transit-Oriented Projects
Montreal developers say the REM is making transit-accessible real estate more attractive, but warn the growing cost of building around the network could undermine some of the development it was intended to encourage. Executives from Mondev, Rosefellow and Cadillac Fairview raised the concerns during a discussion at Connect CRE Montreal, pointing to transit levies, municipal...
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BGO Acquires Toronto, Victoria Rental Assets Totalling 580 Units
BGO has acquired two Canadian rental assets totalling 580 units on behalf of an institutional investor, adding properties in Toronto and Victoria to its purpose-built rental portfolio. The transactions include RioCan’s remaining 50% interest in Pivot, a 36-storey, 361-unit rental tower at 35 Greenfield Ave. in North York. The acquisition gives BGO’s institutional investor full...
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San Antonio Investor Scores Financing for 312-Unit Rental Asset
Strategic Property Investment has secured a $40.3 million loan for Birwood Heights, a 312-unit community in San Antonio. Multihousing News reports the non-recourse bridge loan features a three-year initial term with a stabilized 6.45 percent debt yield and 80 percent LTV, which would value the property at $50.4 million. Birwood Heights was delivered in 2019....
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29th Street Trades Aurora Apartment Community for $72.5M
29th Street Capital sold the Peakline at Copperleaf apartments for $72.5 million, a significant dip from the price the company paid for the property four years ago. The company paid $104 million from the development iin 2022. Multifamily News reports that the Michelson Organization acquired the property with the help of a $30.6 million five-year...
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Apartment, Townhome Complex in Sammamish Trades Hands
CBRE arranged the sale of Boulder Creek, a 204-unit multifamily community in Sammamish, Washington. Eli Hanacek, Kyle Yamamoto and Natalie Kasper with CBRE’s Pacific Northwest Multifamily team represented the seller, Nuveen, in the transaction. The buyer was not disclosed. “Multifamily communities of this quality rarely come available in Sammamish, particularly assets that combine large floor...
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Embrey to Raze Alamo Heights Rental Units, to Build 296 New Ones
The Alamo Heights City Council has agreed to Embrey’s plan to tear down the 105-unit Treehouse Apartments and replace them with a five-story project called Grove Place. The project, which will have nearly 300 units, will also include a fitness center, clubhouse and other resort-style amenities. The San Antonio Business Journal reports that Ridgemont Properties...
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Inland Secures $112M for Chicagoland Senior Housing Portfolio
JLL has arranged $112 million in acquisition financing from a regional bank for the purchase of a two-property portfolio of independent living, assisted living and memory care communities totaling 330 units in the Chicago area. JLL placed the financing on behalf of an affiliate of The Inland Real Estate Group, LLC. The JLL Seniors Housing...
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Ritz-Carlton Residences Coming to Brooklyn Heights
Marriott International, Inc. and SomeraRoad, a New York- and Nashville-based opportunistic real estate investment and development firm, will partner on The Ritz-Carlton Residences, Brooklyn Heights, a collection of luxury residences. The project to redevelop the former 14-story Renaissance Revival Hotel Bossert at 98 Montague St. represents the borough’s first branded residential offering. “The Hotel Bossert...
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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