News
Jax Apartment Investor Inks $73M Refi
Thorofare Capital provided a $73 million bridge loan to refinance The Residences at Enso, a 2023-built, 304-unit multifamily community along the Saint Johns River just south of Downtown Jacksonville. Trevato Development Group will use this interim financing primarily to retire the original bank construction loan on the Class A property, which is located at 3650 Enso Way in the Beach Haven neighborhood and was more than 90% occupied at the time of closing. ...
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Marcus & Millichap Brokers $59M Sale of Minneapolis MF
Marcus & Millichap has brokered the sale of The Liberty, a 242-unit multifamily property in Golden Valley, Minnesota. The asset traded for $59.5 million. “The Liberty is a 96%-occupied luxury apartment and townhome asset poised for continued growth as multifamily supply tapers and demand for well-located suburban properties increases in the Minneapolis-St. Paul area,” said...
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Kiser Group Lists Lakeview Apartment Portfolio
Kiser Group has listed a 134-unit apartment portfolio in Chicago’s Lakeview neighborhood. The portfolio consists of multiple vintage buildings and offers a mix of studio, one-, and two-bedroom units. Kiser Group brokers Lee Kiser, Andy Friedman, Jake Parker and Viktor Radzieta have brought the portfolio to market. The properties, known as The Park Wellington and The...
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AvalonBay Trades Wood-Ridge Apartments for $162M
JLL Capital Markets arranged the $161.5-million sale of Avalon Wesmont Station, a 406-unit apartment community located in the Bergen County community of Wood-Ridge, NJ. Senior managing directors Jose Cruz, Steve Simonelli and Michael Oliver and directors Elizabeth DeVesty and Austin Pierce, represented the seller, AvalonBay Communities. The buyer was Cammeby’s International. Avalon Wesmont Station, situated at 100 Rosie Sq., offers...
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BLVD Group Plans LIHTC Renovations at Woonsocket Apartments
The BLVD Group, a Los Angeles-based developer and owner of affordable housing, announced the $57-million acquisition and planned Low-Income Housing Tax Credits (LIHTC) renovation of Rock Ridge Apartments, a 152‑unit community in Woonsocket, RI. Through this transaction and subsequent development, BLVD will create 30 new affordable units at the property. Upon completion, all units will be available to...
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Tower 16 Acquires South Mountain BTR Community
Tower 16 Capital Partners, in partnership with Raith Capital Partners, acquired Sanctuary at South Mountain, a 166-unit Build-to-Rent property near South Mountain in Phoenix. The property was built in 2023 and acquired for $48 million. The sellers were CRP/Brown 40th and Southern Owner. Tower 16 says that the price is below today’s replacement cost and...
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San Francisco Mayor Lurie Seeks Downtown Financing District
San Francisco Mayor Daniel Lurie and Board of Supervisors President Rafael Mandelman have introduced legislation to create a downtown revitalization financing district. Establishing the district would support the conversion of vacant and underutilized offices and commercial buildings into housing. The financing district would incentivize conversion of underutilized office space into residential units by reinvesting the...
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$2B River Central Could Move Dirt Next Year
It’s never easy dealing with wetlands, but the managing partner of the $2 billion River Central project hopes to start work next year. A wetland area runs through the site near the Dallas-Fort Worth International Airport, and the developer hopes to soon acquire the federal permits needed to get started. River Central is expected 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