News
Austin Hotel-to-Apartment Conversion Opens to Tenants
Pfluger Architects and developer SHIR Capital completed a hotel-to-apartment transformation in Austin. Veer Apartments, a former Quality Inn located at 7928 Gessner Drive, is now a renovated five-story building offering studio apartments in two floorplan choices. Veer Apartments features more than 89,000 square feet of living space and amenities in 174 pet-friendly units, all outfitted with...
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Logos Faith Will Deploy Modular Construction on South LA Project
Logos Faith Development, a Los Angeles-based, mission-driven real estate development firm specializing in transforming underutilized church land into community-centered affordable housing, plans to build multiple projects using modular housing units from Model/Z Modular. Modular housing units promise to deliver housing faster, more cost-effectively, and with less waste than traditional “stick-built” construction. The first project that...
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Albion Residential Closes on Financing for First St. Louis Project
Albion Residential, a Chicago-based firm specializing in the acquisition and development of luxury rental apartments, has closed on its construction loan for Albion West End, the company’s first development in the St. Louis market. Financed by Pacific Life Insurance Company, the loan enables construction to begin immediately on the 30-story luxury residential tower. Albion Residential...
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Rockpoint, Lincoln Property Acquire Luxury Williamsburg Rentals
Boston-based Rockpoint has acquired 56 N. 9th St., a luxury residential property located in the Williamsburg submarket of Brooklyn. Rockpoint acquired the property in partnership with Lincoln Property Company. Financial terms of the transaction were not disclosed. A JLL Capital Markets team led by Nicco Lupo, Lauren Kaufman and Devon Warren represented the borrower and arranged the financing....
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JLL Tapped to Market Bard College’s Great Barrington Campus
JLL has been retained by Bard College as real estate advisor and broker as the school relocates its Bard College at Simon’s Rock campus in Great Barrington, MA to its Massena campus near the main campus in Annandale-on-Hudson, NY. As part of the real estate strategy, JLL will assess the value of the Simon’s Rock...
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BXP Breaks Ground on Lexington Residential, Adds Northwestern Mutual as Investor
BXP recently launched construction on 17 Hartwell Ave., a 312-unit residential project in Lexington, MA, and announced Northwestern Mutual as an investor on the project. The 5.25-acre property was acquired by the joint venture from an affiliate of BXP for $21,840,000 on June 27. The project, in which BXP has a minority interest, obtained a $98.7-million construction loan from Northwestern...
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Buckingham Lands $330M Loan for Apartments in Midwest, Southeast
CBRE Capital Markets’ Debt & Structured Finance team secured a $330-million financing for a seven-property, 2,381-unit multifamily portfolio in five states on behalf of a multifamily fund sponsored by Indianapolis-based Buckingham Companies. The portfolio includes assets in Indiana, Ohio, Kentucky, Tennessee and Georgia. The CBRE Debt & Structured Finance team of Shawn Rosenthal, Jason Gaccione, Tom Traynor, Tom Rugg,...
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Three-Asset Phoenix Apartment Sale Closes for $244.8M
Sunroad Enterprises sold a three-multifamily community portfolio to Fairfield Residential for $244.8 million. The 907-unit, three-complex sale is worth nearly $270,000 a unit. The Phoenix Business Journal reports the three properties include Lazo Apartments in Chandler, a 346-unit project that sold for $100 million. Built in 2001, the last time the project sold was in...
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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