News
NMHC: Fewer Construction Delays but Also Fewer Starts
Results from the National Multifamily Housing Council’s latest Quarterly Survey of Apartment Construction & Development Activity reflect a multifamily construction market showing signs of improvement in certain areas and continued challenges and uncertainty in others. While construction delays occur less frequently compared to the 2022-2024 period, economic uncertainty persists. “The prevalence of construction delays appears to be on...
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Littleton Apartments Trade for $121M
Colt Financing has acquired Broadstone Sterling Ranch, a 332-unit apartment complex in Littleton, Colo., for $121 million. Multihousing News reports that the buyer also took out a $72.6 million Fannie Mae loan originated by CBRE Capital Markets. Alliance Residential Co. sold the multifamily community for $364,458 per unit. Alliance delivered the property last year using...
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Work Underway on Former Metrocenter Mall
Developer Concord Wilshire Capital completed the demolition of the former Metrocenter Mall. The Metropolitan will be a $850-million, mixed-use destination project. The 64-acre development is set to transform the former mall site into a walkable urban village integrating Light Rail with housing, entertainment, dining, and retail. The project is at the intersection of Interstate 17...
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Rockport, Corridor Acquire 4 Dallas Rental Properties
Rockport Equity and Corridor Ventures have acquired a four-asset portfolio totaling 742 units in Dallas. The partnership secured a $93 million acquisition loan issued by Regions Bank. Commercial Edge reports The Ergas Group sold the portfolio after a 10-year hold period. It had acquired the properties in 2015 across two separate transactions involving Waterton and...
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Dinerstein, Maymont Submit Plans for 250-Unit Tampa-Area BTR Community
Dinerstein Cos. is partnering with Maymont Homes (photo) to build a 250-unit build-to-rent community in Land O’ Lakes. It will be the area’s first BTR community. Plans were submitted to Pasco County to start work on the project at Bud Bexley Parkway and Sunlake Boulevard. The new complex will be adjacent to a 41-acre parcel...
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Starlight’s Drimmer Earns Apartment Buildings.com 100 Award
Daniel Drimmer, founder and CEO of Toronto-based Starlight Investments, is among the first winners of the Apartment Buildings.com 100 Awards. He was honoured in the Investors/Owners of the Year category. Read about how he stands out among his peers in the Canadian multi-family sector. By Amy Wolff Sorter Daniel Drimmer is the Founder and Chief Executive...
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Marquette Launches $15M Fund Focused on Midwest Multifamily Properties
Naperville-based Marquette Companies has launched its Marquette SE Fund 25, a co-investment sponsor equity fund with a target size of $15 million for investment in high-quality multifamily developments with value-add opportunities. “We’re approaching a period where the market offers outstanding opportunities for well-capitalized organizations with experience in multifamily,” said Trevor Ryan, president of Marquette Companies....
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Former Everett Hotel Set for Conversion Into Apartments
Sage Investment Group has invested in another Seattle-area property, and the company has completed the $9.5 million acquisition of an Econo Lodge at 9602 19th Ave. SE in Everett, Washington. Sage, which specializes in, plans to convert the 39,600-square-foot building into 124 studio apartments. The seller was Everett-based Double Star Corp., reported the Puget Sound...
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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