News
Nuveen Arranges C-PACE Loan for Converted Gastonia Cotton Mill
Lansing Melbourne Group obtained a $6.5 million C-PACE loan from Nuveen for the Trenton Mill Lofts, an 85-unit apartment complex that was previously Trenton Cotton Mill, Gastonia’s oldest standing textile mill. Built in 1897, it had stood abandoned since then. In 2022, Lansing Melbourne converted it to an upscale multifamily property, which boasts apartments and...
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Multi-Tenant Retail Center In Irving Park Trades Hands
Greenstone Partners has completed the sale of 3951 N. Kimball Avenue, a multi-tenant retail center located in the heart of the Irving Park neighborhood in Chicago, Illinois, for $1.265 million. The nearly 5,000-square-foot property features a 10-space parking lot and great street exposure with dual ingress/egress from Irving Park Road and Kimball Avenue. Upon closing,...
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Sage Investment Buys WA Motel for Conversion to Apartments
Kirkland-based Sage Investment Group recently closed on the purchase of a Studio 6 extended-stay lodging property at 24035 Van Ry Blvd in Mountlake Terrace, Washington. According to Emily Hubbard, co-founder of Sage Investment Group, the company purchased the 1997-built property for $12.14 million. Sage plans to convert the property into 120 studio apartments, which are projected...
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Thousand Oaks Rentals Secure $182M in Debt and Equity
JLL Capital Markets arranged $182 million in construction financing and joint venture equity to capitalize the development of Hillcrest Apartments, a 333-unit multifamily development located directly across from Amgen’s headquarters in Thousand Oaks. Managing director Bercut Smith and senior director Matt Benson represented the borrower, The Latigo Group, in arranging the financing from Bank OZK, Affinius Capital...
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Development Team Breaks Ground on Final Stage of Bronx’s La Central
New York City Mayor Eric Adams, BRP Companies, Hudson Companies, J.P. Morgan and project partners recently broke ground on Phase II of the La Central housing development to bring 420 new affordable homes to the Melrose neighborhood of the Bronx. Phase II will encompass a range of unit types from studios to four-bedroom apartments, along...
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Newmark Arranges $25M Sale of Multifamily in Philadelphia
Newmark has arranged the $24.5 million sale of 1600 Callowhill Street, a boutique multifamily asset in Philadelphia, Pennsylvania. Newmark Executive Managing Director Erin Miller, Managing Director Steven Schultz and Associate Chris Koehler, represented the seller, Ivy Realty. The buyer is Turio Residential Company, a newly formed venture led by industry veteran Gianni Parente, marking the...
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Walker & Dunlop Closes $135M Fund for Multifamily, Industrial Investments
Walker & Dunlop Investment Partners has closed its seventh discretionary equity fund, Fund VII, a $135 million opportunistic vehicle focused on multifamily and industrial real estate across the U.S. Fund VII, managed by Brian Cornell, Ryan Castle, Marcus Duley, and Mitch Resnick, has already seeded eight investments, totaling over 50% of its capital commitments, and...
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POAH Secures Financing for East Cambridge Adaptive Reuse
Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150–year–old, underutilized church at 49 Sixth St. in East Cambridge, MA into housing. The project will ultimately create 46 affordable family-sized apartments. “I have been collaborating with the POAH team for several years on affordable housing projects,”...
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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