News
Manhattan Enters New Era of Office-to-Resi Conversions
New York City is entering a new era of office-to-residential conversions, CBRE reported. Conversions in Midtown Manhattan are taking place at an unprecedented rate, as developers acquire underperforming assets in the primary business district and peripheral areas. And the conversion trend is not limited to Midtown, with the pipeline reaching from Battery Park to Central...
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San Antonio Rehabs, Add Units to Affordable Rental Property
A partnership of PROSPERA Housing Community Services, Bexar County, and the City of San Antonio has wrapped up the $55.4 million, 234-unit rehabilitation project involving the merger of two adjacent affordable communities in San Antonio. Funding included $22 million in low-income housing tax credits. The community caters to residents earning between 30 and 80 percent...
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Downtown Las Vegas Mixed-Use Project on Way
Red Ridge Development has started work on a downtown mixed-use project in Las Vegas. Origin at Symphony Park and Cello Tower are part of a six-acre development that will combine retail, offices, and a luxury condominium tower. In addition, a yet-to-be-announced grocery chain will also be part of the mix. The 32-floor Cello Tower will...
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Developer Team Building $80M Houston-Area Multifamily Community
The team of WNC & Associates and Pedcor Companies has started work on a 264-unit affordable housing community in the Houston suburb of Kohrville. Willow Creek Manor is expected to cost $79.8 million. Commercial Edge reports Willow Creek Manor’s construction was funded through four percent Low Income Housing Tax Credits, tax-exempt bonds, and an FHA...
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Berkadia Helps Sell Ocala, Pensacola Apartments
Hamilton Point Investments acquired Retreat at 42nd, a 268-unit apartment complex in Ocala, and Legends at Pine Forest, a 170-unit apartment community in Pensacola, Florida. SCorUSA owned and sold both. The Ocala property sold for $50 million. Cole Whitaker, David Etchison, and Mary Beale of Berkadia Central & North Florida led the transaction on behalf...
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TM Seeking 3rd Plantation Apartment Venture
TM Real Estate has built two apartment developments near what used to be an American Express campus in Plantation. Now, it’s building a third. The site will be on 4.3 acres at 8490 Cleary Blvd., on the corner of Pine Island Road. The S. Florida Business Journal reports the developer filed a plan for Shalimar...
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NRP Planning 377-Unit Matthews Rental Community
After spending $3.5 million on a 15-acre site in Matthews, NRP says it will begin work on a 377-unit apartment project before the end of the year. The Charlotte Business Journal reports that Brigman Family Farm Properties was the seller. The development, at 11347 Brigman Road in Matthews, will also include 19,000 square feet of...
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Greystone Provides $41M for Minnesota Senior Housing Portfolio
Greystone has provided $41 million in bridge financing to Oxford Capital Group for the acquisition of six assisted living facilities totaling 372 beds in Minnesota. The financing was originated by Greystone Managing Director Christopher Clare. Greystone’s David Young, Ryan Harkins, Ben Rubin, Parker Nielsen, and Liam Gallagher also assisted on the transaction. Greystone’s $41 million...
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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