News
HTG Debuts $115M Miami Affordable Housing Project
HTG and Elite Equity Development, Inc. (EED) opened the doors to Naranja Grand Phase I & Phase II, a multiphase, $115 million affordable housing community delivering a combined 320 income-restricted apartments for seniors and families in South Miami-Dade. Located at 28150 SW 147th Avenue and 28050 SW 147th Avenue, Naranja Grand consists of two eight-story...
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Marcus & Millichap’s Azzi Group Handles Sale of Section 8 Housing on Catalina Island
Marcus & Millichap closed the sale of Tremont Street Apartments, a 62-unit multifamily property located in Avalon on Santa Catalina Island. The property sold for $8.64 million or $139,419 per unit. “Affordable housing transactions often require coordination among multiple parties, and this sale was particularly complex due to the ground lease, HUD approval, HAP contract assignment and Freddie Mac loan assumption,” said Arteen Zahiri, associate director investments. “Successfully navigating...
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Wu Administration Eyes $100M Development Incentive Program for Stalled Projects
Boston Mayor Michelle Wu is proposing a $100-million development incentive program to help jumpstart large residential developments her administration says are stalled by high construction and borrowing costs, the Boston Business Journal reported Monday. The program would start with $31 million for four development projects totaling about 1,400 units, including One Mystic, a 408-unit tower in Charlestown’s...
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Burnaby Development Site Near Royal Oak Station Sells For $8.52M
A foreclosed Burnaby development site near Royal Oak SkyTrain Station has sold for $8.52 million after more than two years in court. B.C. Supreme Court documents obtained by Connect show the sale of 6605, 6607 and 6665 Royal Oak Ave. was approved Sept. 3 to 1599667 B.C. for $8,520,880. The 24,683-SF, three-parcel assembly sits about...
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LiUNA Makes First U.S. Development Investment With Fengate
The LiUNA Pension Fund of Central and Eastern Canada is making its first investment in a U.S. real estate development, backing a 380-unit Chicago project alongside longtime investment partner Fengate. The pension fund is the anchor investor in Fengate’s Social Opportunities strategy, which is investing with Chicago-based Mavrek in Julep West Loop, a 25-storey mixed-use...
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Essex Realty Group Markets 20-Unit Multifamily Portfolio in Chicago
Essex Realty Group, LLC has been exclusively engaged to market for sale a 20-unit portfolio, a multifamily investment opportunity comprised of five similar buildings in Chicago’s West Town neighborhood. The portfolio features 20 residential apartments, including 15 three-bedroom, two-bathroom units. Principal Jim Darrow and Director Abe Eilian represent the seller in the offering. All five...
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Brazos Residential Picks Up Challenging Grand Prairie Apartment Asset
180 Multifamily Properties sold The Watson, a 248-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Wes Racht, Nick Fluellen, and Bard Hoover of Marcus & Millichap represented 180 Multifamily and procured the buyer, Brazos Residential. Brazos’s Wyatt Simmons added this, “The Watson was a particularly complex transaction as it...
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Urban League of Metropolitan Seattle Plans Mixed-Use Development Center
The Urban League of Metropolitan Seattle (ULMS) has launched its Reclamation & Restoration Capital Campaign. The initiative will fund a new Empowerment Center at 23rd and Rainier in the Rainier Valley neighborhood, which will serve as the organization’s headquarters and include residential units. The center will be an integrated program hub for residents, bringing together...
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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