News
Multifamily Portfolio in Western Wisconsin Sells
Marcus & Millichap has brokered the sale of a 49-unit multifamily portfolio in Ellsworth and Baldwin, Wisconsin. The properties sold for $5.8 million. The subject portfolio includes 25 units across five buildings in Ellsworth, with a mix of 16 two-bedroom, eight one-bedroom and one studio units; as well as two buildings in Baldwin, comprised of...
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JLL Arranges $50M in Financing for Class Apartments in Westampton
JLL has arranged a $50 million financing for a 275-unit multifamily community in Westampton, Burlington County, New Jersey. JLL worked on behalf of the borrower to secure the five-year, fixed-rate loan through a life insurance company. JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Michael Klein and Director...
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American Capital Group, PGIM Form JV for Seattle-Area MF Development
Bellevue-based American Capital Group and PGIM Real Estate have formed a joint venture to develop The Foundry at Totem Lake, a multifamily project in Seattle’s Kirkland submarket. Located at 12700 and 12704 NE 124th St., the development will feature a seven-story residential building, including three stories of structured parking. The community will feature 453 units...
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Alchemy-ABR, Carlyle Top Out Upper East Side Luxury Tower
Alchemy-ABR Investment Partners said Wednesday that 288 E. 88th St., a new 24-story luxury residential rental building on Manhattan’s Upper East Side, has officially topped out at approximately 350 feet. Alchemy-ABR is developing the project in partnership with Carlyle Group. Located at the southwest corner of East 88th Street and Second Avenue, the Hill West Architects-designed...
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PGIM Arranges $80M Loan for LV Apartment Sale
PGIM Real Estate has provided a $80 million floating-rate loan for the acquisition and capital improvement of Lyric, a 376-unit multifamily property in Las Vegas, NV. The loan was provided to RPM Living Investments and Marble Capital. The financing was provided through PGIM Real Estate’s core-plus lending strategy, managed on behalf of third-party investors. ConnectCRE reported...
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Rockwood Capital Obtains $88M Refi on Edgewater Apartments
Rockwood Capital inked an $88 million refinancing for the 297-unit Modera Edgewater in Miami. The transaction refinances a maturing loan, returns equity to investors, and provides long-term fixed-rate financing. Colliers Mortgage Structured Finance Group, led by Jonathan Lee and Shahin Yazdi, arranged the Fannie Mae permanent loan. The team secured an early rate lock before the...
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Charney Secures $135M Financing for Fort Greene Condo Project
Charney Companies secured significant construction loan financing for its development of 95 Rockwell Pl. in Fort Greene, Brooklyn. Financed with $135 million in backing from BH3 Fund Advisors and Madison Realty Capital, the 45-story condominium will bring 182 new units to a neighborhood long dominated by single-family homes. “Closing this significant construction loan is a pivotal moment, allowing us...
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Minnesota Multifamily Property Trades Hands
Marcus & Millichap has completed the sale of Van Dyke Village Townhomes, a 20-unit multifamily property located in Maplewood, Minnesota. The property sold for $2.75 million or $137,500 per unit. “We received significant interest in Van Dyke Village Townhomes due to its townhome-style construction, the strength of the Maplewood submarket and the long-term opportunity to...
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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