News
PPR Capital Management Acquires 232-Unit MF Near Milwaukee
PPR Capital Management (PPR), a private equity real estate investment firm, has acquired The Villas at Foxwood, a 232-unit townhome-style multifamily community located in Brown Deer, Wisconsin, approximately 15 minutes northwest of downtown Milwaukee. This $38.3 million acquisition represents PPR’s first investment in the Milwaukee area and marks the firm’s expansion into the upper Midwest...
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Boerum Hill Apartments Score $166M Construction Loan
SCALE Lending, the debt financing arm of Slate Property Group, has finalized a $166-million construction loan for the development of a multifamily project located at 280 Bergen St. in Boerum Hill, Brooklyn. The 30-month whole loan was arranged by Galaxy Capital. Goose Property Management, a Brooklyn-based real estate developer and property manager, will use the funds...
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MassHousing Provides CommonWealth Builder Funds for Amherst Condos
MassHousing has provided $9.9 million in CommonWealth Builder financing for the development of Amherst Community Homes in Amherst, which will create 30 new condominiums for purchase by moderate-income, first-time homebuyers. Valley Community Development is developing the new homes in 15 duplex buildings in North Amherst with 10 of the units restricted to homebuyers earning up to 80% of the Area Median...
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WNC Closes Tax Credit Fund at $228M
WNC & Associates has closed WNC Institutional Tax Credit Fund 57, L.P. (Fund 57), a $228MM fund which includes 26 multifamily properties across 17 states. Investments in affordable housing through Fund 57 encompassed a mix of 12 new construction properties and 14 preservations totaling 1.908 units. “WNC remains deeply committed to addressing the affordable housing...
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Harbor Group Pays $182M for Needham Apartments
Harbor Group International has paid $182 million for a 390-unit apartment complex off Kendrick Street in Needham, MA, or about $467,000 per unit, reported the Boston Business Journal. Known as The Kendrick, the property was owned and developed by Toll Brothers. The five-acre property was last assessed at $119 million, the Business Journal reported. Pennsylvania-based...
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Bellevue Towers Trade for $193M to The Sobrato Organization
CBRE arranged the $192.85 million sale of Soma Towers, a 273-unit multifamily community in Bellevue, Washington. Su Development sold the asset to The Sobrato Organization. CBRE’s Eli Hanacek, Kyle Yamamoto and Mark Washington represented the seller. “The property garnered significant interest from buyers because of the exceptional quality of the asset, strength of the market,...
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$27M Multifamily Sale in Virginia Secured by KLNB
KLNB has successfully arranged the $26.5 million sale of Avalon Townhomes, a 182-unit townhome community located in Hampton, Virginia. The property was sold by West End Capital Group and acquired by Two Rivers Realty Partners in partnership with Rock Creek Property Group. The transaction was led by KLNB Principal Rawles Wilcox and KLNB Senior Vice...
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312-Unit Tucson Rental Project Fully Funded, Under Construction
MC Companies started work on The Place at Mason Ranch in Tucson. Conceived in 2021, when MC Companies paid $4.4 million for the land, the project reached a significant milestone in late March with the closing of its construction loan, a $49 million loan from lender Kennedy Wilson and a preferred equity line of credit for...
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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