News
Berkadia Lands Financing for Naples Rental Property Sale
Berkadia secured financing for Interface Properties’ acquisition of Wild Pines of Naples, a 200-unit apartment community with 100 income-restricted affordable units in Naples, Florida. Mitch Sinberg, Michael Basinski, Scott Wadler, Brad Williamson and Matt Robbins aided the sponsors in assuming a $20.62 million senior loan and secured an additional $6 million supplemental through Freddie Mac,...
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Clarion, Cortland Offload Boca Raton Apartments for $152.5M
Clarion Partners and Cortland sold a 384-unit Boca Raton apartment complex for $152.5 million, or nearly $400,000 a unit. The investment arm of the Church of Jesus Christ of Latter-day Saints was the buyer. The South Florida Business Journal reports the apartment complex at 7801 N. Federal Highway last sold for $120.84 million in 2019. Del Ola,...
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George Smith Partners’ Matt Hiller Assesses Growth Outlook at Connect’s Upcoming Texas Multifamily Event in Dallas
Texas is still in the midst of a population boom, with the state adding over 2 million new residents since 2020. Those new residents are going to need a place to live. And that fact is not lost on investors and developers of multifamily communities. At the upcoming Connect Texas Multifamily event (Thursday, August 28th), leading industry...
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Prairie Provinces, Quebec Multi-Res Projects Drive Increase in Canadian Housing Starts
Housing starts in Canada rose 4% year-over-year in July, with 23,464 units recorded in centres of 10,000 people or more, up from 22,610 a year earlier, according to the Canada Mortgage and Housing Corporation (CMHC). The year-to-date total reached 137,875, also a 4% increase from the same period in 2024. The seasonally adjusted annual rate...
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Veris Divests Park Ridge Apartments for $117M
A team led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, and Travis Langer of CBRE Institutional Properties, in partnership with Roland Merchant and Tom Pryor of CBRE’s Investment Banking team, closed the sale of The James, a Class A multifamily community in Park Ridge, NJ. CBRE advised the owner, Veris Residential, on the $117-million sale....
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Bozzuto, Invesco JV Acquires Northern Virginia MF Property
Bozzuto and Invesco Real Estate have jointly acquired Ashton at Dulles Corner, a 454-unit apartment community in Northern Virginia’s high-growth Reston-Herndon corridor. The acquisition is the second in the firms’ joint $330 million multifamily investment program, which has an overall deployment capacity of approximately $1 billion and targets value-add multifamily assets. Located in one of...
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WNC and Partners Launch Construction on Maine Affordable
WNC & Associates, Avesta Housing and master developer Reveler Development launched construction on 89 Elm Apartments, a 201-unit affordable housing community in downtown Portland, ME. This is the fourth community for WNC in Portland, following the recent completion of nearby Riverton Park. Located at 89 Elm St. within walking distance of restaurants, grocery stores, health...
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Graham Street Divests Corte Madera Offices for Resi Conversion
San Francisco-based commercial real estate investment firm Graham Street Realty (GSR), an affiliate of Hamilton Zanze, has sold Hunt Plaza, a 1.57-acre, 68,456-square-foot commercial property in Corte Madera, for an undisclosed sum. The buyer plans to convert the property into an affordable multifamily community featuring 99 homes. GSR sponsored the acquisition of Hunt Plaza, which sits 10 miles north...
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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